• Mortgage Loans Terms explained

    Lets take a look now at some mortgage loan terms and what they mean. Adjustable rate mortgage is the type of mortgage where the interest rates change over time and are based on a set index or margin. Changes to your rate are made at set times and within set limits according to your contact. Amortization is when you pay your mortgage through installments gradually over a set period of time. Annual Percentage Rate or (A.P.R.) is the percentage rate you pay on your mortgage annually. Generally this percentage is higher than the actual stated percentage due to outside credit costs.

    Appraisal is the determination of the market value of your homes value and is done by a professional. It is used to determine insurance rates and mortgage rates among other things. Cash Reserve is your cash reserve is having enough money left over after closing to pay your first two mortgage payments.

    Closing is the point at which the sale of the home has been finalized. This is the point at which the buyer signs for the home and the closing costs have been paid. The deed is a legal document that is considered the title to the property. Earnest Money is money that is given to the seller buy the intended buyer in order to bind the forthcoming transaction.

    Equity is the value of your home above and beyond the loans you have on your property. Fixed-Rated Mortgage is the type of mortgage where the interest rate has been determined and set for the entire term of the loan.

    There are many more terms that are used in the real estate world and they are easily accessible online or at your local library. You should definitely do your research into all of the information available to you before you buy a home so you will understand what you are doing. Research an understanding is a very important part of any investment.


  • Top Reasons People Take Out Personal Loans

    Life can throw little curve balls at you all the time and sometimes those curve balls can get expensive. When people get hit with bills they cannot pay, or they start to make future plans that they need to finance, many will turn to taking out a personal loan. Check and see if any of these top reasons that people take out a small loan apply to you and your situation.

    Home Renovation – One of the more expensive rooms in your home to renovate is the kitchen and when it comes time to put in a new sink or a new kitchen floor then a small loan is a great way to finance it. You can also use a loan to put some new appliances in as well.

    New Computer – If you find yourself with a need to be connected to the rest of the world then you are in need of a new computer. You could sign up for a credit account with the computer manufacturer but the chances are pretty good that the interest rate on that account will be fairly high. The solution could be a small loan, with a low interest rate, as a way to finance your new computer.

    Big Screen – People who love movies tend to invest in some of the better movie watching equipment and a prime investment for any movie lover is a home entertainment theatre system. For a really impressive plasma screen, speaker system and proper seating your finances might need a little lift, all for the love of movies.

    Landscape – Many people use their garden as their escape from the rest of the world and if you really want to take your garden to the next level then you need some serious landscaping. You can finance your garden landscaping and, when the garden is done, you will have your own oasis from the rest of the world. Not only this, the resale value of your home will be boosted by the improved garden.

    Backyard Pool – When the weather is hot every Aussie wishes they had a swimming pool installed in time to fend off the heat of the summer sun. Having a swimming pool installed is a great gift for your family!

    Fun on the Water – Some people look to the open waters as their source of relaxation and to do that you need a boat. Buying a boat to get away from it all is something that doesn’t come cheap. After the boat, you’ll need to moor it, have a boat license and pay for fuel and upkeep.

    Wedding Bells – The happiest day of a young couple’s life can also be one of the most expensive days. A young couple seeking to get married, enjoy the day and invite the family, then jet off to some exotic island for the honeymoon is enough to make some people postpone their big day until they’ve saved up enough. A small loan might be a wise idea, to speed up that joyous day!

    A Family Holiday – At some point everyone just needs to get away from it all and go on holiday but many people do not take that well needed rest because they feel they do not have the finances, and perhaps they do not have the cash flow right then and there. A low interest rate loan can get you on the beach and away from it all in no time.

    Cash Flow – Sometime you can get caught in a situation where you need additional cash flow to fund a hobby you have taken up or maybe invest in a idea that you have been cultivating for a very long time. A personal loan can help you increase your cash flow and bring your ideas to life.


  • Women perception towards gold loan

    EXICUITIVE SUMMARY MUTHOOT FINANCE GOLD LOAN The Muthoot Group (TMG) has a huge holding of gold in the private sector, but they feel that it is still a very small percentage. They have about 65 tons of gold in custody and expect that more could be put to productive purpose if the awareness and benefits of Gold loan is spread.

    Muthoot Smart Plus Gold Loan They have been actively involved in campaigns to spread message regarding the financial potential of gold holdings with individual consumers in India. -There is traditional perception that to avail of a gold loan is a desperate measure. The truth is quite the contrary, and by availing of a gold loan, one can change the profile of gold holdings from an idle asset to a productive asset-, says TMG managing director George Alexander Muthoot. Their efforts show the house-wives what the family’s gold holdings can achieve for their husband’s business. The group’s recently-launched gold loans at an interest rate of 1% a month offered had been well received in the market, prompting even those who had not previously considered taking a gold loan to avail of the scheme. Muthoot said many also realized how gold loans could work out cheaper than personal loans and loans on credit card accounts.

    What is Gold Loan? To start with let us define the term gold loan. It is nothing but a loan which one can take from someone against gold. This gold can be in the form of bars or in the form of coins or in the form of jewelry. Just imagine a scenario where you have enough gold jewelry stored in your house and you are looking for some quick money. So, what can you do in that scenario? Will selling the gold off be a good idea? The answer is a big -no’. In this scenario, one can go for gold loans. You can borrow some money from a person keeping the gold jewelry with him and when you have enough money in your own hand, you can take back the jewelry after paying back the loan to the person. This way, you will neither lose the jewelry nor be suffering from the problem of the need of instant money. Gold Loan Is For Whom – The Kings or Beggars? We always have a perception that gold symbolizes prosperity and loan is for the poor. So, how can these two words -gold’ and -loan’ come side by side to form a phrase gold loan? If you think you are someone who has no or little idea about the answer to the asked question, then you must read on this article to have a good idea about gold loan. Why to options for Gold Loan? Now that you know how to get a gold loan, you must spend some time knowing why it’s a good bet to opt for gold loans. Firstly, gold loans are one of the most secured loans. Secondly, one can use the loan taken against gold to fulfill any purpose. So, he or she does not get constrained by the purpose of the loan in this case. As far as the interest rate is concerned, the banks are charging an interest of twelve and a half percent annually while the non-banking organizations are charging at a rate of around two percent monthly. These rates are at par with the rates involved with the other types of loans. So, gold loans are good in this aspect as well. Research Objective Identify and understand where service gaps exist gold loan. Priorities those gaps in terms of relates to impact on Women’s towards gold loan. Identify the reasons for the existence of those gaps develop a programme of activities to close those gaps between women’s in gold loan. Location of the study: The study was conducted in the city of Davangere.

    Duration of the study: This study was conducted for the duration of 60 days.

    Sample size: The sample size of the respondents is 50.

    Data collection method: Primary and secondary data was used for the study. Primary Data: Survey method and Questionnaire Secondary Data: Scholar articles @google.com & www.orgncr.com

    Problem Definition: Management problem: To identify the involvement of women’s in gold loan. Research problem: -Women’s perception towards gold loan-.

    RESEARCH DESIGN AND METHODOLOGY: CharacteristicsMeasuring groupNumber of valid responsesValid Percentage GenderMale1428.14 Female3671.86 8383 Total50100 AgeLess than 29 years911.50 30-44 years1023.30 45-54 years1936.70 Over 55 years1228.50 Total50100 DepartmentBusiness1938.00 Non-business3162.00

    Research instruments: The research instrument used for this study is structured questionnaire and survey method. Research type: Descriptive Research is used for the study and under that survey technique is used. The descriptive research was used because here the research has no control over the variables, he can only report only what is happening. Sample area: Sample area is basically the place where the researcher conducted his survey or study. The study was conducted in city of Davanagere. Sample size: The sample size of 50 respondents was taken for the study. Sample technique: Simple Random Sampling technique was used for the study to select the sample from the population. Research description: Sample element: Every individual who taken a gold loan customer Sample unit : Every individual Sample time : March-2012 to May-2012 Sample extent : Davangere city Sample frame : Not specific (sample frame means list consisting of all Sampling unit) Sample size : 50 respondents (for descriptive research the sample size Will be large) Sample method: Probability sampling Data Analysis and Interpretation This survey starts by checking for missing values, outliers, and normality. These tests will be followed by reliability test for the factors being investigated. This is followed by a brief discussion of the validity of the new measures created for the study. The factors are then used to compare against the demographic variables. Mean values of Gender perception towards gold loan GenderRespondents consciousnessPercentage Male1428 Female3672 Total50100

    Data Interpretation: Interpretation of data is done by using statistical tools like Bar diagrams, and also using quantitative techniques (by using these techniques) accurate information is obtained

    Conclusion:- To end, we can give a friendly-warning to all our readers. Please, go for gold loans only if you are confident enough to repay the amount in future. Otherwise, it is not your cup of tea.

    QUESTIONNAIRE Dear Sir / Madam, We the students of BIET-MBA PROGRAMME, Davangere undertaking a study on -Women’s perception towards Gold Loan- (With Special Reference To Muthoot Fin Corp), Davangere city as a part of subject assignment. We request you kindly to fill up the questionnaire by sparing your valuable time. The information provided by you will be used for academic purpose only.

    DEMOGRAPHIC PROFILE 1. Name: _____________________________________ 2. Gender: a. Male _____ b. Female _____ 3. Age: a. Less than 29 years [ ]b. 30-44 years [ ] c. 45-54 years [ ]d. Over 55 years [ ]

    4. Occupation of respondents: a)Farmer / Household [ ] d) Business man [ ] b)Professional [ ] e) Govt. Employee [ ] c)Private employee [ ] 5. Monthly Income: a) 10000-15000 [ ] b) 15000-30000 [ ] c) 30000-50000 [ ] d) above 50000 [ ] 6. Do you aware about gold loan? a) Yes [ ] b) No [ ] 7. How did you get the information about Gold loan? a) Advertisement [ ] c) family & relatives [ ] b) Friends & colleagues [ ] d) Internet [ ] e) Other ————–.. 8. Have you taken any gold loan recently from any Institution? a) Yes [ ] b) No [ ]

    9. If Yes, from which institution? a) Muthoot Fincorp[ ] b) Manapuram Gold loan [ ] c) Banking Sector [ ] d) Others——— 10. Have you faced any problem while taking the gold loan from Muthoot Fincorp? Yes [ ] No[ ] 11. If yes, please mention the problem: a) Delay in sanctioning of loan[ ] b) Delay in disbursement of loan [ ] c) Insufficient loan [ ] d) High rate of interest [ ] e) Quality of service is poor [ ] f) Documentation [ ] g) Valuation of gold [ ] 12. How many years you are required to repay the loan amount: a) 4 years [ ] c) 8 years [ ] b) 6 years [ ] d) 10 years [ ]

    13. What is your opinion about financial assistance given by Muthoot Fincorp? a) Highly satisfied[ ] b) Satisfied [ ] c) Dissatisfied[ ] d) Can’t Say [ ] 14. Your opinion about interest charged by the Muthoot Fincorp: a) Very High [ ] c) Reasonable [ ] b) High [ ] d) Low [ ] 15. Your Suggestions towards gold loan in Muthoot Fincorp. —————————————————————- THANK YOU DATE: Signature


  • Loans for Bankrupt People – Get Your Financial Support Back

    If you had declared the bankruptcy, then it is surely your worst day of life. However, at that time you also have different opportunities like loans for bankrupt people which are planned help for bankrupt people. This financial option offers the financial help so that bankrupt people can regain their monetary status.

    These loans are available in secured and unsecured form. Borrowers can go for the loan according to their convenient. In the secured from, there is a requirement of placing the security against the loan amount. Without the security lender does not offer the amount. Homeowners can avail the cash with no hassle in the secured form.

    However, tenants have the option of unsecured form to avail the loan amount. It is an advantage for the borrowers because of the no risk factor. They can avail the cash without any risk, but at higher interest rate. This is the perfect option if you need small amount to borrow.

    With the help of the loans for bankrupt people, borrowers can smile once again because they will use this money to maintain their financial standard again. To get the approval you must be 18 years old with the UK citizen. It is very important that you have stable job so that you can pay back the loan on time. The person must possess an active bank account for the money transaction.

    The online mode of applying for this credit option is just fantastic way to get the cash. In the online mode you do not need to go outside and search for the lender. You can easily sit at the front of your computer to make some healthy search.

    A good search will be able to give you reliable lender for your procedure. It is very important that you select the right lender because you provide your crucial personal information to your lender.


  • Loan Against Property In Ncr A Godsend During Financial Distress

    It is natural for you to get a bit worried about your finances when you want to send your son or daughter abroad for education, or even when you are seeking to finance your business” expansion.

    One of the various ways you can arrange finance is by taking a loan. You can either take a personal loan or take a loan against property.

    Loan Against Property (LAP)

    A loan against property is funds disbursed against the mortgage of property. Typically, the amount of loan given is a certain percentage of the market value usually in the range 40% to 60%.
    Loans against property are generally available for:

    “Expanding business

    “Son”s/daughter”s marriage

    “Financing studies abroad

    “Funding medical treatment

    “Funding a vacation

    A loan against property in NCR is given against any type of property that can include residential, commercial or industrial.

    Some of the requisites to apply for LAP are:

    “the individual must have property in his/her name

    “LAP can be applied to property that is collateral

    “there should not be any other encumbrances

    While loans against property are obtainable from leading banks, certain finance distribution companies also make LAP available. In addition, some well-known finance distribution organizations offer loans with cutting edge approval processes enabling speedy approval and quick disbursal of loan amounts.

    Some of these companies provide customized financial services including corporate debt syndication for large loans.

    It is surprising that many individuals are reluctant to leverage their property for taking loans.

    “When finances are strained, many prefer to borrow from family or friends”, says a financial expert.

    “But prudent borrowers have experienced that taking a loan against property is the best option because it is cheaper than a personal loan and importantly being a collateral loan you can get a higher amount than the one you get for an unsecured loan”.

    Here are some important pointers.

    “If the loan is against property that has multiple owners, then all of them will have to be joint applicants to avail the loan.

    “The property should be clear, without any encumbrances.

    ” The lender, such as a bank, will make a thorough check of all the documents related to the title of the property, and also ask for proof of identity such as passport or PAN card.

    “If you are an employee, the bank may ask for bank statements for the past six months, and if you are self-employed you may be asked for certified financial statements for the past two years.

    While taking a loan against property in NCR, borrowers must exercise due diligence, because in all matters related to loans, certain risks are involved.

    Firstly there is no scope of any mistake; everything should be right the very first time itself. Secondly you cannot default on loan payment. This can result in loss of ownership of property in a worst case scenario.

    But with good homework, and financial discipline, a loan against property is a boon in need.