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Financing Investment Properties – Good News For the Conventional Investors!

Fannie Mae is changing their rules regarding multiple mortgages to investors in order to help jump start the housing recovery. Their current policy of financing a maximum of four investment or second home properties has been changed to five to ten for properties purchased after March 1, 2009, whether or not Fannie Mae is the investor on the borrower’s other mortgages. The following are the new eligibility requirements:

Eligibility Requirements
· Limit of five to ten financed properties per borrower, with underwriting requirements including a 720 minimum credit score and 70-75% maximum LTV/CLTV/HCLTV (depending on the transaction and the type of property involved).
· Applicable to whole loan purchases or mortgaged backed securities.
· Lenders must use a special code 150 when they are delivering loans to investors or to borrowers for second home properties.

Reserves Requirements and Assignment of Rents

The following are the new Fannie Mae reserve requirements for loans on investment properties and second homes to borrowers with multiple financed properties:

One to four financed properties (including the subject

· Two months of reserves on the subject property if it is a second home,
· Six months of reserves on the subject property if it is an investment property, and
· Two months of reserves on each other financed second home or investment property.

Five to ten financed properties (including the subject

· Two months of reserves on the subject property if it is a second home,
· Six months of reserves on the subject property if it is an investment property, and
· Six months of reserves on each other financed second home or investment property.

Investment property borrowers must now execute a Multi-state 1-4 Family Rider Assignment of Rents Form 3170 authorizing the assignment of rental revenues to the lender. Fannie Mae is deleting the requirement for rent loss insurance though. For more information, visit Fannie Mae’s website.

Understanding How Investment Loans Differ from Typical Mortgage Loans

Investment loans differ from a typical mortgage loan on a primary residence. Since the money will be used for investment purposes, lenders usually require a larger down payment for one thing. The interest rate is usually higher as well. Investment loans are for shorter periods of time while the monthly payments are higher, but less money is paid in interest during the term of the loan.

Requirements for Conventional Investment Loans

Lenders require a title policy be purchased, an inspection be conducted and an appraisal be done on the property to make sure the property appraises. Every conventional lender will review the borrower’s current debt to income ratio, past credit history and ability to repay the loan.

Hard Money Lenders

Investor funding through hard money lenders is an alternative to obtaining traditional conventional financing for many investors these days. Hard money loans can be used for not only acquiring property but rehabbing and resale of single family homes. Hard money lenders look at the asset more than the borrower’s credit history and income so it is easier to get financing.

Hard money lenders are mostly other investors who have cash and are willing to loan to you as an investor. Finding them is not that difficult. The best way to find a hard money lender is to get a referral from another investor or friend or family member. In fact, you may already have a family member that is interested in loaning to you. There are many hard money lenders that advertise on the Internet as well.

Hard Money Loans

Currently foreclosures are skyrocketing in Michigan due to the drop in real estate values. People who borrowed in order to buy their house are now owing more on their homes due to the total worth of their home declining.

For those who have received low-interest-rate mortgages (ARM) in the past are now having there ARM increasing interest rates which in return increases the monthly payments. The monthly payments are getting too high for some to handle. The current situation is a real estate investor’s dream. Real estate investors are now about to get homes very reasonably, but in order to do this the investor needs to have fast money.

The answer to this problem are “hard money” loans. They do not require income or credit checks. The loan is given on LTV which is Loan-To-Value ratio of the property. These hard money lenders usually lend up to 75% LTV. If you are planning to purchase these houses in order to “flip” them, lenders will let you buy the property and will give you extra cash for renovations. For a Michigan investment property, these hard money loans only go up to 50% LTV due to the economic times of the state.

Many bargain properties will be found at auctions which requires the purchaser to pay a deposit of a percentage of the house when the action is won. After it is won and the non-refundable deposit is made you will have about a month- 30 to 45 days to pay for the property; most likely by getting a mortgage loan. Conventional mortgages normally take longer than the 30-45 day range and this causes the bidder to lose their deposit made at the auction.The great thing about hard loans is that you can usually get them within a week or two. Thus, hard money loans are what most investors do unless they are wealthy.

Hard money loans are not made by banks. They are made by private investors so it’s important to have a mortgage broker. They will be able to work between you and the lenders so that they have good working relationships. At the end of the deal the mortgage broker charges a percent amount of the loan obtained. The only price that you personally will need to pay is for the property appraisal.

If you are looking to “flip” a house use “hard money” loans and make sure to have a great Mortgage broker to help you along the way.

Unsecured Business Loans – Niche a Path For Successful Venture

Every business machine is funded to propel smooth. A consistent back up of fund is an essential fuel to run the venture successfully. An entrepreneur has to make himself/herself well equip with steady financial mobility. Fund deficit could erupt anytime for any purpose, you may feel an external financial help in case of failure of your own resources. So, here the concept of unsecured business loans makes you upkeep with your finances. You can go for the loan facility with a feasible business plan to substantiate your demands.

Basically, unsecured business loans are not secured against any kind of your fixed asset. However generally, your asset is kept as collateral that assures the loan repayment. It also helps you fetch a good amount of money. But scenario is outright different in unsecured loan provisions. You get the fund you need without any sort of pledging-placing. This facility helps you accomplish any of your business expenses. You can invest the granted amount on several heads like buying machinery for a plant, raw materials, acquisition of land, an office premises, paying wages and salary to the employees, etc.

Unsecured business loans help you obtain the appropriate sum for your business. The loans enable you to convert your effort into a successful venture. It niches a path for instant success in your career. For all that, amount under the provisions differs with the borrowers’ repayment capacity and with lenders lending profitability as well. Even then, a borrower of any financial class can take out a sum anywhere from £1,000 to £25,000. You find a viable source of fund that makes you possible to avail even the larger sum.

You can make the loan application online as well as offline, processing online is preferred though. A simple online application is made. The application is reviewed by your lender concerned. And later, a confirmation is made to you. You get the fund you require and invest as per your requirements.

So, unsecured business loans niche a path to get success in your business venture.

The Other Stones that Might Just be Your Favorite for Jewelry

Often when we think of luxury jewelry and the latest trends, we think of only the most precious of stones. We think of ocean blue sapphires, fire red rubies, star-like diamonds and forest green emeralds. However, though these stones are valuable and therefore equated with glamor and luxury, they can and have been overplayed. Sometimes we see them way too much in a single fashion season. Why settle for the usual suspects? Today we see many more artistic and dazzling pieces of jewelry using semi-precious and unknown stones. Their artistry and uniqueness make them precious as well.

What are these “other” stones, you may wonder? Well, you may want to immediately run to garnets and turquoise, topazes and amber. However, there are many more stones out there that catch the eye and sparkle with all the allure of the more commonly know stones. They, too, can make the fashion headlines and compete with the trendiest of trends.

It should be noted that not just any jewelry designer is able work with these stones and take them to the highest echelons of glamor. It is truly painful to find what was a gorgeous stone and see it in a cheap looking piece resembling more to a child’s dress-up accessory. One must look for artists in jewelry making when seeking pieces with semi-precious and precious stones alike. Take a Judith Ripka ring, for example, and see what a true artist can do. In her work you find trendsetting and classic pieces alike that will wow your wardrobe for a lifetime. Her rings are always set in a precious metal but she plays with stones and turns them into gems. She uses mint green quartz stones, crystal stones of various colors, and madiera citrus stones to name only a few. These exquisite and uncommon stones found their way into her collections years ago and have wowed the fashion community ever since. Yes, she uses traditional precious and semi-precious stones as well. You can find rings and Judith Ripka earrings as well as Judith Ripka bracelets with white and colored diamonds in them. They, too, are works of art.

The challenge is to find luxurious and truly special creations in any of the stones that you want in your collection. It is especially exclusive to procure jewelry with semi-precious stones that are extraordinary. The use of these stones is becoming more and more common. However, not every designer has the ability to pull it off in the ever-changing fashion industry and create pieces like a Judith Ripka bangle using green tourmaline stones or yellow beryl stones. It takes someone with their finger on the pulse of the fashion and jewelry industry to create such valuable and precious pieces.

This year explore the jewelry fashion scene and discover that the “usual suspects” have taken a hiatus and more colorful and exceptional stones are taking center stage. You will find great delight in uncovering this exciting reality. Add pieces to your jewelry boxes that will delight you for years to come.

Ladies Dress Watches – The Past and Future of That Which Elegantly Tells More Than Just Time

We often forget the progression and evolution of the things we know and use almost every day.

The Ladies Dress Watch is today one of the more eloquent, complementary and even crucial accessories for a fashionable woman dressing up for almost any occasion.

But wrist watches for women took time, so to speak, to arrive at their sleek and charming designs and to accomplish a certain look as to not overwhelm a woman’s wrist as well as being comfortable and functional.

The wrist watch itself actually came out of a necessity of soldiers to have a more quick and efficient way to look at their watch at a time where everyone had pocket watches. Except for the more expensive ones, pocket watches were big, heavy and clunky devices which taking in and out of your pocket on the battle field was less than desirable. and so improvising with strapping them their wrists using leather straps gave birth to the wrist watch.

But as the progression from the pocket watch to the wrist watch was heading forward, the system and tools by which they were produced did not allow yet for a wrist watch to be thin and have smaller internal parts to be built in such a way and still function correctly. This posed a challenge as how to create a ladies watch to appeal to woman, integrate well with their style, look and figure and still tell the time.

This is most likely why, in general, ladies’ watches have developed over the years into a clean and simple format and design that singles the elegance that a watch can possess as it sits on a wrist. While men’s watches developed variations and additions to chronograph functions, changes to ladies dress watches as well as ladies sport watches, were made to the shape of the dial and case, and to colors for the wrist strap and dial itself. In ladies dress watches and ladies fashion watches, the variations of subtle elements of color and shine such as the spectrum of silver-tone and gold-tone mixed with metallic ion black or sparkly blue, became one of the outstanding features of the design as opposed to technical features.

In contemporary fashion, ladies dress watches are a leading component of the waves of new fashion trends and styles. They take a good place between ladies sports watch and ladies fashion watches or jewelry watches. The Ladies Sport Watch incorporates materials that are more durable and resistant as well as lighter, this creates a light and more comfortable watch to wear for sports and casual occasions. Fashion and Jewelry watches are some times heavier than dress watches and often have diamonds embedded in the case surrounding the dial, or have the square dial in a gold or white gold case and are much more open about attracting attention and extravagantly sparkling in a room.

The ladies dress watch continues to evolve and as its variations keep finding their way into more styles, the lines between the different types sometimes gets blurred, and that is part of the ever changing fashion of accessories. But these watches look to have a colorful future that escapes the boundaries of silver and gold, as black and blue take a more prominent role in shaping the personality of these elegant and beautiful crafted marvels. These watches may even transform in surprising ways such as to integrate with rings in much the same way as some bracelets do, and it will be fascinating to see how the ladies dress watch in the times to come.