What is an Adjustable Rate Mortgage?..

November 7th, 2006

mortgage loanAn adjustable rate mortgage is just what its name implies-a home mortgage loan with a variable interest rate that is adjusted during the life of the loan.

Adjustable rate mortgages usually have two numbers associated with the loan offer, such as 1:1, 3:2 or 5:1. The first number specifies the number of years that the adjustable rate mortgage will operate like a fixed mortgage until it comes up for an interest rate review for the first time.

The second number specifies the interval of years which the mortgage will be reviewed for its interest rate after the initial review. For example, in a 5:1 adjustable rate mortgage, the mortgage would operate with a guaranteed fixed interest rate of x% until it is five years old, then it would go up for its first interest rate review. At that time, the interest rate would change to y%, and each year after that, for the life of the loan, the interest rate would be reviewed again.

When you go to apply for a mortgage, you will be given two options-a fixed rate mortgage or an adjustable rate mortgage. It is important that you do a good deal of research before you choose one or the other type of mortgage to ensure that you are doing what is best for your situation. Choosing an adjustable rate mortgage will depend largely on the current realty market in your area and your own financial situation.

Discuss your options with your bank or financial advisor before making any decisions on your home mortgage loan.

About the Author:
Ken Charnley is a personal finance publisher whose website http://www.online-loans-pro.com/ is dedicated to quality information on online loans. For all your online loan needs visit and Apply for Loans Online
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Basement waterproofing tips from the experts…

October 30th, 2006

It is very important to determine the water source. One of the first things you have to do when facing such a problem is checking your gutter system; gutters can be choked-up with leaves. It is suggested that you extend your gutters eight feet away from your house. In order to do this, you can use plastic pipes buried and connected to underground drains.

Wet Basement

You have to be careful not to place the end of the gutter too close to your neighbor’s house because you can find yourself with a lawsuit. You may find yourself in the situation when the ground surrounding your house slopes toward your home, therefore gathering water near your foundation. See if the water irrigation system for your house is releasing too much water near your house; also look for any cracks in the basement walls.

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Buying a home: tips and wish list

October 28th, 2006

Preplanning is a Must

In order to save money, time and energy, one of the best tips on buying a home involves the preplanning process of house hunting. When you analyze what you want and need in a home purchase, you will be able to make better decisions that will stand the test of time. When you need help buying a home, you will be able to effectively direct yourself in the right direction. When you are unclear on what type of help you need when buying a home, your house-hunting process will take much longer than it should. You will be scrambling about an array of properties that could easily be eliminated if you have a focus on the kind of features you would like to have.

A nice tip on buying a home is to make a list of all of the things you want in a house. Do you prefer a deck or patio? Does the size of the yard matter to you? How many bathrooms would you like? Gas or electric stove? Once you have completed your list, you can better pinpoint additional tips on buying a home. Don’t be afraid to express all of the things you desire or need when buying a home. For some, this is the time to purchase the home of their dreams and focusing is the best way to go about it.

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Kitchen Design – Guide for Planning Kitchen Layouts

August 9th, 2006

Planning your kitchen layout – Choosing and positioning kitchen wall/floor units

There are three stages to planning a kitchen:

  • Measuring up and noting the position of the existing services, windows and doors.
  • Working out the plan to get the appliances, work tops and cupboards where you want them.
  • Deciding on any changes to the services (electricity, water, drains) you need.

The following is intended to help you with the actual planning, but they are only suggestions and will not be practical in all situations, you will often have to compromise. The golden rule is – keep it simple – and remember that the kitchen is one of the main selling points for a house.

The principal activity zones in the kitchen are generally recognised as being – food preparation, cooking and serving, and finally washing up. Each activity zone needs to include the worktop(s) and appliances required for that activity, also the zone will require the storage space for the utensils, ingredient etc. required for it.

In addition to the three zones, it is important to arrange the appliances and worktops in the correct order i.e. worktop – appliance – worktop. A work triangle is formed between the three zones (as shown in the diagrams below). For the greatest efficiency the total length of the three sides of the triangle should be between 3600mm and 6600mm, and as far as possible, the work triangle should be uninterrupted by through traffic.

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Ranch Style

July 28th, 2006

The Ranch style is also known as American Ranch, Western Ranch, or California Rambler. Although Ranch style homes are traditionally one-story, Raised Ranch homes may have several levels of living space.

Ranch Style

Traditional Ranch homes reflect a hard-working, simple life and are often considered a expression of the informality of Western culture. Because these homes are uncomplicated, critics often say the Ranch style has no style. The style is also dismissed because it has become so common. “Ranches” are found in the suburbs throughout North America, making the style synonymous with the concept of tract housing: fast-built, cookie-cutter homes.

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