Tag: Get

How to Get a Business License #best #online #business


#business license

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How to Get a Business License

If you are planning on starting your own business. chances are that you will need some type of license or permit – maybe more than one – to move forward legally. A business license is a permit issued by a government agency that allows business to be conducted in said government’s geographic jurisdiction. By and large, your state or local government will determine which licenses and permits are required to operate in its jurisdiction. Additionally, the federal government requires special licenses for certain industries.

Why Is a Business License Required?

Obtaining a business license is necessary for three main reasons:

  1. So the government can track taxable revenue
  2. So consumers are protected in federally regulated industries
  3. So that you may demonstrate your level of professional expertise

Determining the requirements for your business is the first and most important step.

Identifying License and Permit Requirements

Business licensing requirements are determined by:

  1. Business activity
  2. Physical location

The U.S. Small Business Administration provides a great resource for determining the licensing requirements in your area. After entering in your local zip code and the type of business you are starting, you are presented with a list of the permits and licenses you will need along with the locations at which you can find the requisite forms.

NAICS Code

Before you can apply for a license, you will need to determine your business activity code. which is based on the North American Industry Classification System (NAICS). In order to select the proper code, you must determine the activities from which your business will derive the largest percentage of its total receipts, which is defined as the sum of gross receipts or sales plus all other income.

Taxation Requirements

The Internal Revenue Service requires businesses to register to receive a Federal Tax Identification number. also known as an Employer Identification Number (EIN). Your business will need an EIN if you can answer yes to any of the following questions:

  • Do (or will) you have employees?
  • Do (or will) you operate your business as a corporation or a partnership?
  • Do (or will) you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?
  • Do (or will) you withhold taxes on income, other than wages, paid to a non-resident alien?
  • Do (or will) you have a Keogh plan ?
  • Are (or will you be) you involved with any of the following types of organizations?

    Trusts, except certain grantor-owned revocable trusts, IRAs, Exempt Organization Business Income Tax Returns

    Real estate mortgage investment conduits

    Licenses and Permits

    Federal

    If your business will fall under the regulating eye of a federal agency, you will need to obtain the corresponding federal license or permit. Examples of business activities that may require such licenses include:

    • Agriculture
    • Alcoholic beverages
    • Aviation
    • Firearms, ammunition and explosives,
    • Fish and wildlife,
    • Mining and drilling
    • Nuclear energy
    • Radio and Television broadcasting
    • Transportation and logistics

    Permits can usually be found online, on the website of the entity that regulates the specific regulated activity the business will engage in. For example, if your business is involved in agricultural activities, you can find the necessary applications at the website for the U.S. Department of Agriculture. If you plan to broadcast your own television or radio program, you can find the necessary application online via the Federal Communications Commission .

    State/Local

    It will also be necessary for you to register for applicable tax permits with state and local agencies. For instance, if your business will be selling goods or services, and you are operating in a state which levies an income tax, you will be obligated to obtain a tax license so that the state can track your taxable revenue. Contact the license commissioner in your county or municipality and the office of your state’s Secretary of State to find out the exact requirements that apply to you.

    Home-Based Considerations

    Even sole proprietorships run out of someone’s home are required to obtain business licenses in some areas. These can include:

    • General business licenses
    • Trade licenses (such as a license to operate a child care service or sell real estate)
    • Sales tax permits
    • Health and safety permits
    • Sign permits
    • Zoning permits

    Filling Out and Filing the Forms

    Once you figure out the licenses and permits you need to legally register your business, you will then need to fill out the necessary forms. These can be obtained from the appropriate federal or state agencies, and they usually can be found online. You may print the forms, fill them out, and mail them back to the agency; however, in many instances you will be able to fill out the forms and submit them online. Regardless, information you can expect to disclose may include, but not be limited to, the following:

    • Type of business
    • Business address
    • Name of business owner
    • Contact information
    • Federal ID number
    • NAICS code
    • Number of employees

    Expect to pay a filing fee, which can range from around $50 to hundreds of dollars or more, dependent upon the region you are filing in and the types of activities your business will be conducting. Fees are often calculated as a percentage of revenue, with a base minimum for new companies. The time it takes to receive your license can vary from a few days to a few weeks.

    Ongoing Licensure

    Obtaining the necessary licenses and permits for your business is required in order to operate legally. Moreover, the task is not a one-time occurrence. Most licenses and permits will need to be renewed periodically. For example, if you are running a restaurant with a bar, you will need to renew your liquor license once a year.

    While this process can seem daunting, being familiar with the steps will go a long way in making the experience as painless as possible.

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Get Listed with Bizify the Free Business Directory Today #business #loan #rates


#free business directory

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Join the fastest growing free business directory

Bizify is one of the fastest growing free business directories in the UK for both small and large companies who wish to make themselves found online. The best thing about Bizify is how easy it is to use, and how fast you can search for, and find, exactly what you are looking for. Whether you’re a Carpenter in Kent or a Printing Company in Newcastle, Bizify has a space for you in our online business directory .

Business
of the Month

Xebra Accounting

How did Xebra Accounting come about? Xebra Accounting started when I left a larger accounting practice to develop cloud based accounting services, which I saw as a game changer as to how accountants work with their clients. The name was simply an idea that we came up for a modern firm, and when we saw the designers logo ideas, our xebra stood out from her other ideas. What is a typical day like at Xebra Accounting? We are a small team, but do operate as a team, so that we help and support each other. We.

What makes different?

There’s no one thing that separates us from most other business directories. however the overall service we are offer is far different to most. As well as being able to search for businesses as usual, you can also use Bizify as a Social Media Directory. providing unique benefits for both your customers and you as a business. Offering a free place to advertise and connect with businesses you require, Bizify also presents you with the opportunity to integrate your favourite images, videos and trusted customer reviews.

Bizify is an ideal place for you to list your business online. As a team of creatives, we specialise in helping you to get the best out of your advertising and online marketing. We are able to re-design your website or build you one from scratch. As well as this, we can help you to optimise your search results (via Google, Bing and Yahoo), with our industry leading SEO services.

Are you looking for a FREE Business Directory?

As a free online business directory. Bizify lets you advertise your company for free. The power is totally in your hands as we allow you to add your own information and various other attributes, such as opening times and reviews. This allows you to be easily found by those who require your services anywhere in the UK.

During the hardest recession known for generations, we have provided an all in one solution to advertising for free online. Because of our efforts, hundreds of companies are listing their business right here with Bizify. From plumbers and electricians through to multinational chains, we cater for all.

How does Bizify work?

Incredibly easy to use, Bizify is highly suited for businesses looking to advertise and customers performing a search. All you need to do is type in the kind of business you require and the location you are searching from. From there our advanced online directory will then do the rest, pulling up all the relevant businesses in that specific area and allow you to find exactly who or what you so desperately need.

Bizify work to give you the best service for your time and trouble by updating our records and listings daily. Doing this allows us to deliver the most effective results that have been optimised especially for you.

The benefits of Bizify couldn’t be clearer. With free business listings that offer a variety of features, including the ability to upload your own logo, integrate your Facebook page and add your company information, Bizify allows you to advertise your businesses services and skills to those who live and work locally.

So what are you waiting for? Sign up today. get listed and get reviewing other local businesses today .

Free SEO Report

For all small businesses looking to expand and grow, getting the fundamentals right is extremely important. No doubt you will have already signed up for a FREE business listing with Bizify, allowing you to be found on the web in more places than one, and are looking for new ways to improve your business online.


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How to Get a Small Business Loan – Finance a Business – Wells Fargo

#getting a small business loan

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Financing a growing business

Learn about financing options for small businesses.

Supporting both the operation and expansion of a growing small business often requires some additional financial support. Getting a small business loan or grant can help you bridge the gap when you need to make capital investments, increase your workforce, or move to a larger space. To help you decide which type of funding might be right for you, here are a few great small business-financing options:

Line of credit. Using a line of credit as working capital can make it easier for you to manage your cash flow as your income or expenses fluctuate. It allows you to borrow only the funds that you need giving you more control over the amount of interest you will accrue.

Business loans. For larger investments, it may be time for a term loan. Like a mortgage or personal loan, term loans come with fixed interest rates and monthly payments over a period of years. Unlike a line of credit, a business loan will provide you with a large sum of cash upfront. These loans can be ideal for expanding your space or funding other large investments.

Commercial loans. For established businesses that own commercial real estate, a commercial loan is another option. Like a home equity loan, a commercial loan allows you to borrow against the equity you’ve built in your business property. Depending on the value of the property and the equity you hold, this could mean more borrowing power.

Equipment loans. If you’re specifically looking for cash to fund the purchase of new equipment – including vehicles, manufacturing or production machinery, farming equipment, or other necessary equipment – then an equipment loan or leasing program may be what you need. Like business loans, equipment loans offer fixed interest rates and payment plans over a period of time.

SBA loans. Wells Fargo is the nation’s #1 provider (by dollar volume) of loans guaranteed by the US Small Business Administration – or SBA 7(a) loans. SBA 7(a) loans have longer repayment terms and lower down-payments than most conventional bank loans, and can be used for the purchase of owner-occupied real estate, business acquisition, equipment, or working capital. Wells Fargo also offers the SBA 504 program for larger, fixed asset purchases or construction.

Federal or state grants. Small business grants – money that does not need to be repaid – are limited and harder to secure than loans. State and federal business grants are funded by taxpayer dollars, and the money is awarded through a complicated legislative process. For more information on how to get a small business grant, visit www.grants.gov.

By knowing which small business financing options are available, you’ll have a better idea of where to turn when you’re ready to take your business to the next level.

Business insights from experts

Discover our comprehensive resource library, offering guidance and information to help you start, run and grow your business.

Wells Fargo Works for Small Business ®


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32 Business Listing Sites That Will Get You Referral Traffic – Dex Media #current

#business listings

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32 Business Listing Sites That Will Get You Referral Traffic

Not all online searches and transactions are performed on search engines. Directories and social media websites expand your reach and have some of the hottest leads on the web at an inexpensive cost. Whether free or paid, these marketplaces are worth spending your advertising budget on.

Should You Submit to Online Directories?

Yes! You should submit your business information and website to relevant directories, and I’ve included a list below. This list is a great sources of leads, consumer reviews and referral traffic. Free or paid, it is important you control your business profile because you need to engage and advertise to consumers where they want to be. Once you claim your profile, update any information that is inaccurate. and be sure to provide details about your business that are a selling point and may draw a new customer in. Most importantly, claim ownership now so that you can respond to positive and negative reviews of your business in the future.

How Many Is Too Many?

There is no set number of directories your business should or shouldn t be in. It s the quality and relevancy of the directories that is important to keep in mind. Links from spammy websites, hacked websites or low quality sites constitute bad neighborhoods that you don’t want to belong to. Linking to your site from these bad neighborhoods on purpose will make you a target for manual penalties from the search engines.

How to Tell Which Directories Are Legit

I have put together a list of 32 directories I recommend, below. But there are many more worth considering. If you re interested in submitting your site to a directory, take a look at the businesses listed and if you would feel comfortable calling on those businesses and they are relevant to your business, then you should feel safe submitting to and being a part of that neighborhood. The quality of the sites you are listed in is important, so stick to the best. The goal is to make sure that the most accurate, up-to-date information about your business gets published where your potential customers are searching.

Getting Started

On any of these sites, search to see if your business is already listed, then claim control of your existing listing instead of submitting a duplicate. For new submissions, I’ve linked to the deepest page that can help you set up a new business profile quickly. Also if you have a directory that you think should be included, please feel free to mention it in the comments.

Need help submitting? This can be very time consuming, and we can help. You can start by evaluating the accuracy of your listing using our free tool, and claim control quickly and easily by syndicating your information through our network, or we can do the legwork for you.

Originally posted on March 3, 2014.

Updated on June 19, 2015.

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About Ben Kaylor

Yeah I SEO. Need some help? I blog here, play here and work here. Check out my articles and connect with me on Google+. Be sure to tell me how great you are, because I know I’m not the only one.

Hi there! Description for each directory must be unique. I have a representatives of our comany worldwide. So I collected database directories all over the world and I want to place there information about our representatives in each country ( addresses will be their ). but url will be of our general site. So, how to make each of them unique description of the company? Or I can write the same information about our company in each directory? In this case can be a penalty from Google or not? I d be glad for any advice!

thank you for share this beautiful blog post with precious business directory site list 🙂

Hi this list is worldwide do you have list for specific country like, australia, new Zealand, south africa and many others countries?

Great and very informative article. This will help us to link building. I want to ask you a favor. We are a web development company. You can tell us, how do we create back links to our company?

This article list is so useful… Surely it will help to increase website traffic… Thanks for informative information sharing


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Get online with Business Web Hosting – BT Business #business #brokers


#business web hosting

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Cookies are small text files that are stored on your computer when visiting some websites. We use cookies to make our website easier for you to use. You can remove any cookies already stored on your computer, but this may prevent you from using parts or our website.

Select an option below to control the cookies types used on bt.com or find out more about cookies .

  • Targeting
  • Functional
  • Strictly necessary performance

This site will

  • Remember what is in your shopping basket
  • Remember your log-in details
  • Make sure your logged in areas are secure
  • Offer live chat support
  • Make sure the website looks consistent
  • Allow you to share pages with social networks
  • Allow you to comment on blogs
  • Send information to other websites so that their advertising is more relevant

This site will

  • Remember what is in your shopping basket
  • Remember your log-in details
  • Make sure your logged in areas are secure
  • Offer live chat support

This site wont

  • Allow you to share pages with social networks
  • Allow you to comment on blogs
  • Send information to other websites so that their advertising is more relevant

This site will

  • Remember what is in your shopping basket

This site wont

  • Remember your log-in details
  • Allow you to share pages with social networks
  • Allow you to comment on blogs
  • Send information to other websites so that their advertising is more relevant
  • Provide you with live, online chat support
  • Improve overall performance of the website

BT Web Hosting


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How To Get Your Very Own Free SSL Certificate #get #ssl #certificate #from #server


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Popular Topics

MakeUseOf

Top Deals

A Secure Sockets Layer (SSL) certificate helps us to encrypt the data being transmitted via the Internet. It will come in handy if you are running a blog or a personal webpage and logging into them from an unsecured public access WiFi Hotspot (such as coffee shops, airports etc).

SSL certificates encrypt the login data before transmitting them to your ISP/server making it harder for eavesdroppers to break in. That s exactly why banks, financial institutions, ecommerce sites etc. use SSL for securing login information, user identity information and credit card data.

SSL certificates cost a lot if bought from providers like Verisign, GoDaddy etc. For those us who don t run mission critical portals, that is not an option. Let us see how to get free SSL certificates from StartSSL .

Obtaining The Free SSL Certificate

A simple signup form kickstarts the process of getting the free SSL certificate. All the details, including home/company address to phone number are mandatory requirements. Once the signup is done, an email with the verification code is sent to the email address you specified.

After entering the verification code, the application is sent to the second stage of verification by the StartSSL team and we are advised to wait for about six hours before being contacted by their team.

However, I got a confirmation mail in less than 5 minutes with a link to the account. Remember, this email is good for only 24 hours from the time it has been received, so act fast.

Installing The SSL Certificate

StartSSL offers free certificates with no holds barred and with absolutely no hidden charges. You can choose either a 128 bit or 256 bit key for encryption.

We have the option to choose between a high grade or medium grade private key. Once the type of key is selected, it is generated and we are taken to the installation page.

Once the install button is clicked, the certificate is installed. There is also an option to download and store the certificate to an external disk and I strongly advise you to do it.

Now that the certificate is installed in the browser, we can just click on the Authenticate option to enter the control panel. No need for an username and password. We are identified by way of the unique private key and hence it is very important to back it up securely.

Validating The Domain Name

After authentication, we can start the process of validating the domain name the email address with the help of the Validations Wizard. From the dropdown, you can choose the appropriate option. Let us go ahead and validate a domain name.

Once we enter the domain name, an email address has to be associated with it to confirm domain ownership.

Once the email address is verified, the domain is validated. However, this being a free SSL certificate, StartSSL requires the renewal of this validation every 30 days, which involves the same process.

Certificate Wizard

I chose the Webserver certificate since I am planning to use it for my WordPress installation. We need to enter a password to create a private key and then we have to enter the subdomain where the certificate will be used. Subdomain is a mandatory requirement.

The certificate created will support the domain and the sub domain. As the final step, we now have the text box displaying the encoded certificate information. Copy the content, paste it in a notepad file and rename the file as ssl.crt

The same page also has links to download the intermediate and root certificates. Download them to the same folder.

Uploading Files To Server

Navigate to the How to Install section in the FAQ section. Choose your server setup, for example Apache and you will have the code to modify the http.conf or ssl.conf file. Copy it and update the file in the root folder of the domain in your webserver.

From the same page download the ca.pem sub.class1.server.ca.pem files. Upload all the files to the root folder and now we have the SSL enabled connection at the website.

Final Thoughts

Please exercise caution with the last step and ensure that all the directories (marked by arrows in the image above) follow the same naming convention of your ISP or location in your webserver. And do remember to validate the domain every 30 days to enjoy the security provided by the free SSL certificate.

Are there any other services offering free SSL certificates? If you know of any, do share them with us.

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Arizona Probate Services #arizona,probate,services,do #it #yourself,informal,formal,small #estate,affidavits,paralegals,low #cost,fast,easy,cheap,experienced,legal,papers,probatecourt,phoenix,save,money,filings,court,fees,how #do #i #get #appointed #as #executor,do

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We professionally prepare probate legal documents and help you understand the mandated court process.
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Don’t want, or can’t afford an attorney. you may not need one!
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A commonly asked question is: Do I need an attorney for Arizona probate?

The simple answer is no – anyone can file their own documents with the probate court. The right answer is one that only you can answer. Many probate cases are standard and only require an understanding of the court document requirements and the timing of the process. Some probate cases are more complex and you should be represented by legal counsel.

At Arizona Probate Services, we will discuss your situation with you. If we are uncomfortable about preparing the documents for your particular situation, we will recommend you seek legal counsel. We will always be honest and upfront with you. Integrity and a commitment to quality is the foundation of our business.

Then documents are filed with the court when it is appropriate, you administer the estate, and close probate when it is time! With our help, it’s that simple!

Thank you for supporting Arizona Business!

All fees on this website are subject to change without notice.

NOTICE TO CONSUMER
Arizona Probate Services is an Arizona certified legal document preparer, certified by the Arizona Supreme Court. The purpose of a Certified Legal Document Preparer is to provide professionally prepared legal documents and procedural assistance at an affordablecost. A Legal Document Preparer cannot represent you in court. A legal document preparer is not a lawyer, is not employed by a lawyer, and cannot give legal advice, and communications with a legal document preparer are not privileged (meaning we are subject to subpoena).

This website is intended to provide general information about Arizona legal issues and process. However, legal information is not the same as legal advice, which is the application of the law to a specific situation. The information provided on this website is not intended or meant to provide a comprehensive picture of any particular situation.


Content copyright 2010-2011. Arizona Legal EASE, Inc. All rights reserved.


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Credit Cards – Compare Best Card Offers & Apply Online #get #a #credit #cards,

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Compare partner credit card offers from our most
popular categories

How to choose a credit card

When looking to get a credit card, there are a variety of things you should consider. If you want a rewards card to use frequently, you might not mind paying a $100 or $200 annual fee. You should also consider the regular APR (as opposed to the introductory rate) and the interest rate. A good interest rate is dependent on how you will use the card. For example, a 20% interest rate is fine if you plan on paying off the balance every month.

It pays to ask these kinds of questions before you fill out the application form. Here are 9 questions you want answered before you sign on the dotted line.

The “very first question” the consumer should ask is, “Why am I applying for this card? Why do I need this card?” says Bruce McClary, media director for ClearPoint Credit Counseling Solutions, a nonprofit affiliated with the National Foundation for Credit Counseling

Some positive reasons: The card has low or no fees, a lower interest rate or offers a rewards program that suits your spending habits. “It has to make sense, and it has to fit into your overall lifestyle,” McClary says.

Do you pay off your credit card balances every month? If so, “you don’t care what the interest rate is because you won’t pay any,” says Ric Edelman, author of “The Truth About Money.” “But you care about the (annual) fee,” he says.

If you run a balance, you want the lowest rate you can get, even if that comes with an annual fee.
One clue to your usage: “Look at your past history,” says Edelman. “Because what you’ve done before is what you will be doing.”

If you’re shopping for a card, chances are you’re comparing card terms. But if an issuer sends you an offer, it’s tempting to apply and see what you get.

“It’s really difficult to pick one (in isolation),” says Kelly Rogers, chief development officer for the Consumer Credit Counseling Service of Orange County and adjunct faculty at Chapman University. “If someone just shows you one car, how do you know if it’s the right car for you?”

Her advice: Do a side-by-side comparison of several different cards before you apply.

Don’t be afraid to plug the card name, “complaints” and “customer service” into your favorite search engine. “I go through and see who has the least amount of complaints and issues,” says Rogers.

Some cards will give you a range of rates you could get, but often that window is pretty wide, says Nick Bourke, director of the Safe Credit Card Project at The Pew Charitable Trusts. Other cards may offer a specific rate (or terms) and either approve or reject you.

If you’re operating totally in the dark, you have another option: Apply by phone and push for an answer on your rate and credit line before the account is opened.

While there are no guarantees, sometimes you can get an answer, says Bourke.
“I’ve actually done this myself,” he says, admitting “you do have to go pretty far in the process.”
You may have to ask for the department that’s actually evaluating your application to get an answer, he says.

“The thing that you want to do is when you’re talking to the person on the phone taking your application is you want to push them as hard as you can to get your APR and credit line,” Bourke says. Then, once you have the information and before the account is opened in your name, “you can say yes or no at that point,” he says.

According to the Credit Card Accountability, Responsibility and Disclosure Act of 2009, if a card offers a lower interest rate during an introductory period, the promotional rate has to last at least six months. While that introductory offer may be appealing, the regular rate is what you’re really buying.

So find out when the introductory APR expires and what the new rate will be. You can find this information online in the terms and conditions for the card or you can ask a service representative.

Another smart question: How long is that grace period? “Some cards start charging interest immediately,” says Edelman. A card can have different grace periods for balance transfers and cash advances than it does for purchases.

You can find information about the grace period in the credit card offer, thanks to federal rules that took effect in 2010. Look for a summary table of rate and fee disclosures, which will include a statement that explains how to avoid paying interest.

If you’re getting the card for points or rewards, this is one you definitely need to ask, says Josh Frank, senior researcher with the Center for Responsible Lending. Some issuers will revoke rewards if you’re late with a payment by even one day, he says.

“A lot of times, the answer they will give you is that they can take away or reduce your rewards for any reason,” he says. While that’s true, the issuer will have a policy on revoking or reducing points, and that’s what you want to ask about, he says. Under what specific circumstances would they reduce or eliminate a customer’s points?

In most cases, “this is one the customer service agent should know the answer to,” he says.

Some card issuers use your purchase records to assess your ongoing creditworthiness.

That means if you suddenly use your card to purchase retread tires, pay for a session with a marriage counselor or make a purchase at a market on a sketchy side of town, you could see your APR climb or your credit limit fall, says Frank. If you see this practice as an invasion of privacy, ask beforehand if the issuer does this, he says.

How to phrase it: Can my transactions ever be used in rating my credit risk?

And that’s one question the customer service representative “might not know the answer to,” says Frank. “You might want to ask them to transfer you to the credit department manager.”

If you are guaranteeing a card account by co-signing for a college student, ask if you will be on the hook for the debt after the other party turns 21, says Chi Chi Wu, staff attorney for the National Consumer Law Center.

Many times, “there is nothing to prevent the issuers from saying you’re going to be guaranteeing this card 15 years from now — long after junior is out of college,” she says.

In addition, find out exactly what has to be done to get you off the account. Are you free to complete those steps yourself? Or will you need the cooperation of someone who might not want you — and those charging privileges — to go away?

Federal regulations limit your liability for unauthorized credit card charges to $50 if you report it within two business days. The longer you wait, the more you may lose. Many issuers cap losses at zero dollars, provided you follow a few rules. So find out how the card would handle charges you didn’t make, says McClary.

Also, does the issuer monitor usage and shut down the card if it sees out-of-the-ordinary charges or spending locations? That feature can be great if you always use the card for the same types of purchases in the same geographic area, but cumbersome if you’re getting the card for travel.

While it sounds counterproductive, you want to ask some detailed questions on how the issuer will treat you if you run into financial problems, says McClary.

Will you lose points or benefits? Will you be hit with late fees or a penalty rate? Ask what those penalties are or look online at the terms and conditions for the card.

Some issuers have programs to slash interest temporarily for customers who get behind, he says. Others don’t. So find out ahead of time what kind of programs the issuer offers that will help you rehabilitate your account and restore your original terms, McClary says.

Ask about the “worst case scenario,” he says. “When do they consider an account to be charged off? And when do they send an account to a collection agency?”

“It may be a little tough to get a hold of that information because it might not be readily available at the customer service level,” says McClary. “You may have to punch it up a level.”

Bankrate’s best credit cards


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Pre-Qualified Vs #how #to #get #preapproved #for #a #loan


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Pre-Qualified Vs. Pre-Approved – What s The Difference?

Ralph Waldo Emerson, American essayist and poet, once said that the future belongs to those who prepare for it. This is sage advice for homebuyers who need to lay the necessary groundwork to buy the home of their dreams.

Without proper preparation, many buyers get lulled into the mistaken notion that if a lender pre-qualifies them for a mortgage this means that they have been pre-approved for a home loan. Unfortunately, there’s a world of difference between these two terms. If you’ve ever been confused by the two, we’ll bring you up to speed on how these terms differ – and why a misunderstanding can mean disaster for borrowers.

The Skinny on Pre-Qualified

Getting pre-qualified is the initial step in the mortgage process, and it’s generally fairly simple. You supply a bank or lender with your overall financial picture, including your debt, income and assets. After evaluating this information, a lender can give you an idea of the mortgage amount for which you qualify. Pre-qualification can be done over the phone or on the internet, and there is usually no cost involved. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home.

The initial pre-qualification step allows you to discuss any goals or needs you may have regarding your mortgage with your lender. At this point, a lender can explain your various mortgage options and recommend the type that might be best suited to your situation. (For more, see Mortgages: How Much Can You Afford? )

Because it’s a quick procedure – and based only on the information you provide to the lender – your pre-qualified amount is not a sure thing; it’s just the amount for which you might expect to be approved. For this reason, being a pre-qualified buyer doesn’t carry the same weight as being a pre-approved buyer who has been more thoroughly investigated. (To read more, see 4 Steps to Attaining A Mortgage .)

The Skinny on Pre-Approved

Getting pre-approved is the next step, and it tends to be much more involved. You’ll complete an official mortgage application (and usually pay an application fee), then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to “property” on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. You’ll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock in a specific rate.

With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller. as he or she will know you’re one step closer to obtaining an actual mortgage.

The other advantage of completing both of these steps – pre-qualification and pre-approval – before you start to look for a home is that you’ll know in advance how much you can afford. This way, you don’t waste time with guessing or looking at properties that are beyond your means. Getting pre-approved for a mortgage also enables you to move quickly when you find the perfect place. When you make an offer, it won’t be contingent on obtaining financing, which can save you valuable time. In a competitive market, this lets the seller know that your offer is serious – and could prevent you from losing the home to another potential buyer who already has financing arranged.

Once you have found the right house for you, you’ll fill in the appropriate details and your pre-approval will become a complete application.

Getting Committed

The final step in the process is what’s called a “loan commitment ,” which is only issued by a bank when it has approved you, the borrower, and the house in question. This means the home should be appraised at or above the sales price. The bank may also require more information if the appraiser brings up anything he or she feels should be investigated (i.e. structural problems, accessibility issues, outstanding liens or litigation in progress). Your income and credit profile will be checked once again to ensure nothing has changed since the initial approval. (For more, see Understanding Your Mortgage .)

A loan commitment letter is issued only when the bank is certain it will lend, so the commitment date on your purchase contract should be closer to closing than to the date of your offer. (The seller can ask to see that letter as soon as the date has passed, so beware of anyone who tries to put an early commitment date into your contract).

The Bottom Line

Be warned. Pre-approved and pre-qualified are not the same thing. Don’t assume that the bank will provide your loan until you have the former. The mistake could cost you your new home, so before you meet with the banks, do your homework by getting pre-approved. Another important way to prep for getting a mortgage is researching interest rates using a tool like a mortgage calculator.

Doing this could help you save thousands of dollars in interest over the life of your mortgage and gives you some background knowledge when you meet with the banks. Remember, the future belongs to those who prepare for it.


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Why Do I Need to Get a Mortgage Pre Approval? #how #to #get #mortgage

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Why Do I Need to Get a Mortgage Pre Approval?

Why all the fuss about a mortgage preapproval?!

Buying a home

I hate to answer my own question with a question. but, are you serious about buying a home? If so, keep reading, as I’ll uncover the reasons why getting pre-approved for a mortgage is critical when you’ve made the decision to buy a home. This applies to you as a first-time home Buyer or as a repeat home Buyer.

Why Pre Approval?

First and foremost, you want to let any home Seller know that you’re well qualified to buy a home and that you’re serious about buying a home: you prepared by doing proper planning for home ownership and you can afford the home they’re selling.

A pre-approval is a letter than can set you apart from other home Buyers presenting their offer without a solid pre-approval letter. Your offer will be held in high regards with your offer being perceived to be of greater value due to your ability to show the home Seller that you’re able. Yes, that’s it; you’re financially able to buy their home. A good sign for any home Seller.

Different local markets will further express upon the importance of a pre-approval, particularly in a Seller’s Market. What is a Seller’s Market? A Seller’s Market, as the name implies, is when the market favors Sellers (sorry Buyers). It’s a time when Buyers need to be on top of their home buying game if they want to secure the home they’re considering buying. A Seller’s market highlights too few homes to meet the need of Buyers, so Buyer competition will be fierce. Your offer needs to shine above the competing Buyers and a pre-approval is just one way in which to let it shine!

A pre-approval gives the home Seller a reason to select your offer.

Lastly, a pre-approval makes it easier on your emotions. There’s nothing worse than falling in love with a home only to find out later that you can’t even afford the home. With a pre-approval you know exactly what you can afford and won’t be looking at homes in the wrong price range that only are apt to provide great heartache. Get pre-approved.

What is a Pre Approval?

A pre-approval is a Lender provided, written letter that indicates your ability to finance a home purchase. The letter will detail that you have been conditionally approved for a mortgage loan based upon a review of your assets, income and debt. It will detail such items as your base loan amount, type of loan program, the sales price for the home you can purchase, and the property address to be determined once you find a home to buy. Typically it will include the length of the mortgage loan term and can include your rate of interest and could even include an estimate of your monthly payments details that include principal, interest, taxes, homeowners insurance and if applicable; mortgage insurance, flood insurance and any homeowner’s Association fees.

In addition, the letter will conclude that the approval is subject to such items as your final verification of your employment income prior to closing, the funds required to close on your home purchase, that the home you buy must appraise to support the purchase purchase, no change in your credit profile, a satisfactory Title Policy and final underwriting, to name a few.

This pre-approval subject to conditions, will be based upon financial documentation that you provided for review, such as the following:

You’ll also provide authorization to access your credit report. Careful calculations are considered to assess your debt-to-income ratio.

The letter confirms that your assets, income and creditworthiness have been reviewed and based upon the Lender’s findings, you are a good a candidate for final loan approval. Keep in mind that this does not guarantee your ability to get a mortgage, but rather enhances the strong likelihood of getting a mortgage.

These details as described, shows that the proof of your ability is needed prior to receiving a written pre-approval letter, unlike a pre-qualification letter that simply reveals a conversation with no verification of assets, income or debt determined.

Who needs to get a Pre Approval?

A mortgage pre-approval isn’t limited to a few, but rather anyone who wants to buy a home. If you’re looking to buy a home in Coral Springs Florida or looking to buy a home in Boca Raton Florida or anywhere nationwide for that matter, you’ll need a pre-approval letter. If you’re a first-time home Buyer do you need to get pre approved? Yes. How about if you’re buying another home? Yes. First, second, third, prior Short Sale, prior Foreclosure, any home Buyer needs to obtain pre-approval for optimum success with buying a home.

When do you get a Pre Approval?

Have you made the decision to buy a home? Have you made all the preparations required to get your credit in order? Have you saved money towards a down payment, closing costs and simply for being a new homeowner? If you’ve answered “yes”, then now is the time to get a mortgage pre-approval before you even take a step inside a home you think you like or might like.

A pre-approval is one of the most important steps of buying a home. It’s also one of the first things you do when buying a home.

Where can I get a Pre Approval?

An experienced Mortgage Broker (Lender) can get you the Mortgage pre-approval that you need. The Realtor that you hire to assist you in your home search, should have a few Mortgage professionals who she/he can refer you to for your final selection. You’ll discuss their loan programs and rates. Or simply do your homework in researching for a Lender who can assist you. If in your search, you have a telephone conversation or a brief in person meeting and they’re ready to give you what they call a pre-qualification letter without ever reviewing your financials, run! Keep looking. This is not the Lender for you. I’ve described above what it is you need to be pre-approved for a mortgage and a pre-qualification without reviewing your particulars, is a waste of paper and time. In addition, if you’re thinking about selecting a Realtor and they haven’t recommend that you receive a pre-approval letter before you start looking at homes, then think again about this Realtor’s expertise.

Wrap-up

Pre Approvals aren’t optional if you’re serious about buying a home. You need to know how much you re able to afford and ultimately how much money you can offer the home Seller. And simply said, it’s just part of the facts about buying a home if you want to have any kind of success at buying a home.

A pre-qualification gets you nowhere. A pre-approval can get you the home you love. Now go buy a home!

Mortgage mishaps by Frederick Real Estate online

Quick home tips by Cincinnati Real Estate

Book an appointment nowto learn more about getting a MortgagePre Approval when buying a home in Southeast Florida. Call/Text Lynn at 954-464-1100 or email Lynn at nP ag Yo ous om

Today’s article “ Why do I need to get a Mortgage Pre Approval?” written by Lynn Pineda. You’ll find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Boynton Beach, Coral Springs, Delray Beach, Coconut Creek, Deerfield Beach, Margate, Parkland, Pompano Beach, Tamarac, Sunrise, Plantation and Ft Lauderdale areas within Broward and Palm Beach counties.

Lynn Pineda, a licensed Southeast Florida Real Estate Agent serving Southeast Florida for over 10 years. Keller Williams Coral Springs Realty. Real Estate Promises Delivered. You can speak with Lynn by calling/texting her at 954-464-1100 or you can email her at: Ly I in ur e. if you need to buy or sell a Southeast Florida home. Your local, trusted professional when it’s time to buy or sell a home. Real Estate promises delivered. Sept 17, 2015.

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