How to Get an FHA Loan

An FHA loan is obtained through the Federal Housing Administration mostly by applicants who do not qualify for conventional loans under current market conditions. The minimum qualifying conditions require a 580 Fico Score and a minimum 3.5% downpayment (cash-in-hand). There are also other contingencies such as not having been bankrupt for the last 2 years, have not been foreclosed on for at least 3 years, and the housing being applied for must…

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Invoice Financing vs. Invoice Factoring

Both invoice discounting and invoice factoring are means for a business to use money owed to them to get working capital now. Table of Contents: Side by Side Comparison:Main DifferencesWhy Choose One Over the Other?What to Consider Side by Side Comparison: Invoice financing is commonly used to refer to invoice discounting, which is a loan or line of credit which uses money owed to the borrower as collateral.Invoice factoring is a means of alternative financing in…

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The Difference Between a Roth IRA and a 401(k)

What's Covered in this Article Side by Side ComparisonSimilaritiesYou Might Not Qualify for a 401(k)Employed? Here's What to Look forLimitations Side by Side Comparison An IRA (individual retirement account) is a kind of savings account that an individual can invest in for their retirement. A 401(k) is also a savings account, but one that workplaces often offer to help their employees save for retirement. Similarities The income invested and annual growth is untaxed for both investments, but both options…

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How to Get a Loan to Buy a New Business

To get a loan to buy a business, an individual must first select what business to buy. Then they must pick the type of financing which best suits their needs and means. It’s important to investigate the history of the business and get a projection of future profits and consider those numbers concerning the cost of the business. The borrower typically needs a credit score of at least 650 to qualify for a…

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Best Real Estate Crowdfunding Sites Right Now

What is Real Estate Crowdfunding? Real estate crowdfunding is a type of investing which involves taking small investments from a very large group of people to fund large-scale real estate investments. Typically, the funds are pooled into a portfolio of property investments, to stabilize the investment. Each of the investors gains a stake in the portfolio based on their portion of the investment. Stakeholders receive either interest on their investment or their…

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Types of Collateral for a Business Loan

The six (6) types of collateral for a business loan include: EquipmentReal EstateInventory FinancingReceivables (Invoice Factoring)Personal GuaranteeBusiness Lien Equipment Equipment is used as collateral most commonly for industrial or agricultural businesses. The equipment used as collateral can be equipment already owned by the borrower, equipment the borrower is borrowing money to buy or a combination of the two. Highly specialized equipment may have a lower value as collateral, because of the difficulty…

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Best Loans for Bad Credit Businesses

Best Loans for Bad Credit Businesses If you’re a small business with bad credit, it can be difficult to secure financing, especially when many banks will reject loans for small businesses with bad credit outright. It’s understandable that many lenders will see your application as high risk, but be assured there are still good options out there. With the power of the internet on your side, it's easier than ever to secure…

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