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[ad_1] Lt Governor Tamilisai Soundararajan administered the oath of office and secrecy to N Rangasamy. [ad_2] Source link

[ad_1] The combined market cap of cryptocurrencies has been on a tear as institutional investors like Morgan Stanley, Grayscale, MasterCard dabble in crypto [ad_2] Source link

[ad_1] Equity markets continued their upward march on Friday and closed the week’s last trading session with gains. [ad_2] Source link

[ad_1] Coronavirus is everywhere and even the world’s highest peak was not spared. People climbing the world’s highest peak are now being tested positive and now there is a fear of a serious outbreak in base camp of Mt Everest. [ad_2] Source link

[ad_1] Coronavirus is everywhere and even the world’s highest peak was not spared. People climbing the world’s highest peak are now being tested positive and now there is a fear of a serious outbreak in base camp of Mt Everest. [ad_2] Source link

[ad_1] Tesla’s Elon Musk — a long-time proponent of cryptocurrencies — has sounded a note of caution for investors looking to gain from the boom in the prices of Bitcoin, Ethereum, Dogecoin and others [ad_2] Source link

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[ad_1] The post How to Get a Mortgage for a Rental Property appeared first on Millennial Money. There are plenty of benefits for a real estate investor to own a rental property. If done well, this type of investment can be a cash cow, leading to residual payments through monthly rent and significant tax deductions.  Yet investors are often surprised to learn that financing a rental property is a bit different than financing a personal home. It’s not impossible to get a mortgage loan for a rental property, but it can be a bit trickier. With that in mind, here’s a breakdown of what you need to do to get a home loan for a rental property. Steps to get a mortgage for a rental property  The good news is that the process isn’t all that different from buying a home. So, investors who have gone through the process before should at least be well-versed in the steps required to do it again.  Here’s what this entails. Make sure you’re financially ready Find a great real estate agent Get prequalified and preapproved Check out different loan types Shop around for lenders Buy the rental property 1. Make sure you’re financially ready The first thing you should do when considering real estate investing is to conduct a personal assessment upfront.  During this exercise, you’ll want to take a look at your overall financial portfolio to check whether real estate makes sense for your needs. It’s also a good idea to make sure you are in a strong position to ask a lender for money. Check your credit score and determine whether you need to take action to improve your rate by paying down credit card debt. If you have a low credit score or high debt, it’s going to be hard to secure financing for this type of investment.  That said, there may be some small steps you can take to boost your score.  Keep in mind that there’s a slew of fees real estate investors need to consider. On top of property taxes and closing costs, you may also have to absorb homeowners association (HOA) fees and property management company expenses, too. Plus, if you’re getting a multi-unit property, there may be additional upkeep and repair costs. Overall, you don’t want to put yourself in a tenuous financial position in the near term just because you’re excited about the long-term prospects. Make sure you can comfortably afford to jump into this project. Learn More: What to Know Before Getting a Mortgage 2. Find a great real estate agent  Once you determine that it’s a good time for you to buy, find a real estate agent to help source a property. Whether you’re a first-time buyer or an experienced investor, it helps to have someone with deep knowledge of the local market and is a trained negotiator and expert buyer.  On top of that, a qualified real estate agent should have connections to local lenders who may be able to help get a loan. They should also know about foreclosure opportunities, potentially hooking you up with a lucrative investment opportunity. 3. Get prequalified and preapproved  Gather your essential paperwork and go through the prequalification and preapproval process. This is important even if you went through prequalification and preapproval in the past. Chances are, your financial situation has changed since then, and so it’s a good idea to start fresh. Getting prequalified and preapproved can increase your chances of getting a preferred rate. To get prequalified and preapproved, gather all your important details — like your recent tax returns, proof of employment, bank statements, and a list of all your assets. 4. Check out different loan types Unfortunately, you’re going to face a limited selection of options from the lender. There simply aren’t as many mortgage options for investment properties as there are for homebuyers who plan on living in the property they purchase.  For the most part, this is because government-backed loans — such as loans from the Department of Veterans Affairs (VA), Department of Agriculture (USDA), and Federal Housing Administration (FHA) — are only meant to be used for primary residences.  That said, there are some potential workarounds. If you really want a FHA loan or VA loan, talk to the lender about some potential options — like living in a multifamily home and renting out the units you’re not occupying. There may be some options that you can explore. To give you a better idea of what your options might look like, here are the main types of investment loans.  Conventional loans A conventional loan is a type of loan that isn’t backed by the U.S. government. It requires having a good credit score of at least 620 and a manageable debt-to-income ratio that doesn’t exceed 45%. Commercial loans If you’re investing in real estate through an entity like an LLC or S-Corp, then you’ll want to look into commercial loans. Although the interest rates are typically higher and the mortgages have a maximum 20-year amortization schedule, these loans offer more flexibility than conventional loans. Non-conforming jumbo loans  A non-conforming jumbo loan is a mortgage that is too expensive for Freddie Mac and Fannie Mae to cover. Learn More: Best Mortgage Rates for 2021 5. Shop around for lenders Wait and see what the lender offers and then request a copy of the preapproval letter in writing. Take this preapproval letter and meet with different lenders to see if they can beat the interest rate. Talk to multiple providers and shop around until you have a clear sense of where you stand. Avoid the temptations to take the first offer that comes your way. You can always circle back and agree after you’ve done your due diligence. It’s easy to get discouraged after talking to a lender or feel stuck with the information that they give you. However, there are usually alternatives available. So, keep looking until you get an answer that you’re happy with. Persistence almost always

[ad_1] Crude Oil Slips as Jobs Shock Casts Doubt on U.S. Demand [ad_2] Source link

[ad_1] U.S. screens 1.64 million people at airports, highest since March 2020 [ad_2] Source link