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Tips memilih web hosting

2012-01-31T13:21:00.000-08:00

Anda kebingungan memilih tempat hosting? Ada ratusan penyedia hosting di Indonesia yang menawarkan berbagai layanan yang bervariasi jenis dan mutunya. Mana yang harus Anda pilih? Faktor apa saja yang perlu Anda perhatikan? Kami memberikan beberapa tips di sini mengenai faktor-faktor apa yang sebaiknya dilihat oleh calon konsumen, dari yang kurang penting hingga yang paling penting.

Harga

Kalau kita perhatikan bagaimana cara konsumen berbelanja barang komputer atau HP di mal Mangga Dua Jakarta atau BEC Bandung, biasanya adalah sebagai berikut: konsumen menginginkan barang dengan spesifikasi X, Y, Z. Konsumen bertanya pada sebuah toko (A) berapa harganya. Toko A memberi harga. Konsumen bertanya pada toko lain (B). Toko B memberi harga. Demikian seterusnya sampai diperoleh beberapa harga. Konsumen akhirnya memilih toko yang memberikan harga termurah.

Hal ini mudah dilakukan untuk barang-barang seperti elektronik/komputer karena kita mengetahui persis spesifikasi yang kita inginkan, dan tiap toko menjual barang yang sama jika spesifikasinya sama. Tapi tidak demikian halnya dengan jasa, yang sulit dibuat spesifikasi eksaknya. Karena itu harga kami tempatkan sebagai faktor yang sebaiknya dipertimbangkan lebih belakangan (tingkat kepentingannya rendah), mengingat harga yang sama belum tentu berarti tingkat layanan yang sama.

Dalam hal harga, MWN menurut kami termasuk dalam hosting yang cukup ekonomis dan kompetitif. Masih banyak perusahaan hosting yang harganya lebih mahal, terutama untuk kelas penyedia hosting yang memiliki tingkat layanan yang setara. Namun kami tidak menutup mata bahwa ada juga tempat hosting yang menawarkan harga yang lebih murah. Saran kami adalah, sebaiknya Anda mempertimbangkan faktor-faktor lain dulu selain harga. Karena sekali lagi, harga yang lebih murah tidak berarti value lebih baik, karena tingkat layanannya belum tentu sama. Dan pada umumnya pepatah "You Get What You Pay For" berlaku juga di sini.

Keberadaan Perusahaan Yang Jelas

Menurut kami faktor ini lebih penting dari harga, mengingat terlalu banyaknya penyedia hosting di Indonesia, yang rata-rata: 1) tidak berbadan usaha; 2) tidak memiliki lokasi fisik yang jelas; 3) kelangsungan hidupnya antara beberapa bulan hingga 1 tahun saja, yang mana setelah itu menghilang tanpa jejak.

Bagi konsumen yang baru mencoba layanan hosting pertama kali dan tujuannya hanya untuk belajar/pengalaman/coba-coba mungkin hal ini tidak masalah. Tapi bagi sebuah perusahaan atau situs yang ingin lebih serius ini bisa menjadi masalah. Misalnya: data website/database Anda tiba-tiba hilang karena server sudah tidak online berikut si pengurus hosting tidak bisa dihubungi untuk Anda minta datanya. Atau nama domain Anda jadi tersandera karena kontak/password domain ada pada pihak hosting dan lagi-lagi kini mereka tidak bisa dihubungi.

MWN sendiri sejak 2002 telah menjadi badan usaha berbentuk PT dengan kedudukan di Jakarta. Tersedia alamat fisik, kantor, nomor telepon, alamat email, kontrak perjanjian hosting yang jelas dan diaudit oleh konsultan hukum, dsb. Sebelum menjadi PT kami pun telah beroperasi selama beberapa tahun tanpa menyembunyikan lokasi kantor kami maupun nama-nama pengurus dan staf. Sejak awal kami mencoba untuk menjadi penyedia hosting yang bertanggung jawab, yang mudah dihubungi (atau diomeli ;-)) manakala terjadi sesuatu dengan server atau data Anda. Kami menyadari bahwa konsumen membutuhkan pegangan atau kontak & identitas yang jelas. Sayang sekali masih banyak penyedia hosting di Indonesia yang ingin main aman, agar bisa sembunyi-sembunyi/mudah kabur kalau terjadi insiden.

Stabilitas Server dan Jaringan/Konektivitas

Semakin penting website/perusahaan online Anda, maka semakin penting pula stabilitas dan uptime (dan faktor harga menjadi semakin relatif rendah kepentingannya dibandingkan faktor stabilitas ini). Ada beberapa hal yang mempengaruhi stabilitas/uptime, yaitu mesin, jaringan, dan software / keamanan. Karena itu di MWN kami memberlakukan beberapa policy sebagai berikut:

a) Mesin selalu ber-spesifikasi cukup baik agar cukup kuat dan stabil dalam menampung account hosting. Saat ini spesifikasi standar mesin-mesin baru kami adalah Dual Xeon dengan RAM 2GB. Dan setiap mesin umumnya tidak diisi lebih dari 200-300 account agar tidak memberatkan mesin. Angka ini diperoleh dari pengamatan dan pengalaman. (Kami kadang geleng-geleng kepala saat mendengar ada penyedia hosting yang menjejalkan 500 bahkan 1000 account ke dalam 1 mesin).

b) Kami memilih datacenter yang memiliki koneksi Internet yang cepat, stabil, dan redundant. Di luar negeri kami saat ini menempatkan di ThePlanet/ServerMatrix, sementara di Indonesia yaitu di gedung IIX2 (pusat ISP dan Internet Indonesia). Umumnya klien kami sarankan menaruh website/accountnya di luar negeri, karena secara keseluruhan stabilitasnya lebih baik (mis: rata-rata orang berlangganan milis Yahoo! Groups, dan server di luar akan lebih cepat/stabil dalam menerima email yang berasal dari luar negeri pula).

c) Kami amat memperhatikan keamanan server. Ini karena server yang sering dihack akan menjadi sering down bahkan sering kehilangan data, sesuatu yang amat mengganggu operasi server.

d) Kami amat tidak mentolerir spammer atau user yang iseng mencoba-coba membobol keamanan atau memasang software yang mencurigakan. Ini karena server yang mengirimkan spam akan cenderung diblacklist oleh server lain, menyebabkan account-account lain di mesin yang sama terganggu penerimaan emailnya. Demikian juga software-software yang mencurigakan kadang menghabiskan resource CPU/memori atau membuat server menjadi terblokir oleh server lain.

Backup

Faktor ini amat penting karena seringkali data di server (termasuk email dan database) adalah satu-satunya kopi yang dimiliki oleh pelanggan hosting. Pengalaman telah membuktikan, adanya backup harian dan histori 1 minggu pada server-server MWN telah beberapa kali menyelamatkan kehilangan data yang penting akibat mesin/harddisk crash, atau kecelakaan karena tak sengaja terhapus, dsb. Sebaiknya Anda bertanya kepada penyedia hosting, seberapa sering mereka melakukan backup, dan menghindari penyedia hosting yang tidak jelas policy backupnya dan hanya seminggu atau sebulan (!) sekali melakukan backup.

Fasilitas/fitur

Tentu saja ini menjadi faktor penting, karena apa artinya Anda berlangganan hosting kalau Anda tidak dapat menjalankan aplikasi yang Anda inginkan? MWN sendiri selalu berusaha menyediakan aplikasi/software/librari yang standar dibutuhkan banyak orang, seperti PHP, MySQL, Perl, dengan versi yang cukup baru dan berikut librari-librarinya. Jika ada kebutuhan akan software/librari khusus tertentu, Anda dapat menghubungi support kami untuk mendiskusikan apakah software tersebut dapat diinstal di tempat kami. Sebagai catatan, saat ini kami hanya menyediakan hosting berbasis Unix (Linux). Dalam hal email, kami pun terus berupaya meningkatkan mutu layanan. Kami telah memasang antivirus dan antispam di server SMTP. Anda dapat memasang autoresponder dan blacklist sendiri untuk memblokir email yang tidak diinginkan. Tersedia akses mailbox melalui webmail, POP3, forwarding, dan IMAP4. Anda dapat menggunakan secure POP dan secure IMAP (via SSL). Kami pun menyediakan layanan SMTP agar Anda dapat mengirim email tanpa harus bergantung pada ISP. Dalam hal mengupload website, kami menyediakan beberapa mekanisme, yaitu lewat interface web (control panel), FTP, shell (SSH), dan FrontPage.

Support

Mengapa faktor ini kami tempatkan sebagai nomor satu, yang terpenting? Ini karena kami menyadari, apa yang sebetulnya dijual oleh sebuah perusahaan hosting bukanlah seiris ruang pada harddisk, atau bandwidth, atau software, melainkan jasa support. Ruang harddisk atau server dijual oleh toko komputer. Bandwidth dijual oleh ISP atau datacenter atau NAP (network access provider). Software dijual oleh software house atau toko CD. Semua barang itu dapat Anda peroleh/sewa sendiri pada penyedia jasa lain yang telah disebutkan. Tapi jasa support adalah sesuatu yang Anda peroleh dari perusahaan hosting, yang membedakan hosting bayar dan hosting gratis, yang menjadi value yang Anda bayar.

Karena itu sebagai perusahaan yang sah dan jelas keberadaannya, kami menyediakan kantor yang bisa Anda kunjungi untuk melihat/berhubungan langsung dengan staf kami (terlalu banyak penyedia hosting yang bersifat "virtual" tanpa bentuk badan usaha dan lokasi fisik yang jelas). Kami juga menyediakan layanan support teknis lewat telepon, email, dan Yahoo! Messenger 24 jam (banyak penyedia hosting yang hanya mencantumkan email atau HP/SMS, di mana Anda tidak bisa bicara langsung dan tidak ada kejelasan kapan pesan Anda akan direspon). Dan terakhir, untuk pelanggan paket platinum, kami meng-assign satu staf private assistant yang dapat Anda hubungi secara pribadi untuk membantu Anda dengan masalah-masalah pada account Anda.

Kesimpulan

Tentu saja keputusan akhir memilih penyedia hosting berada di tangan Anda sebagai konsumen. Tulisan ini kami buat untuk membantu agar Anda tidak bingung atau terkecoh melihat fasilitas-fasilitas yang ditonjolkan penyedia hosting melalui iklan-iklan atau website mereka. Sebaliknya, Anda menjadi sadar mengetahui faktor apa yang sebetulnya penting dan seberapa besar value apa yang Anda peroleh dari sebuah penyedia hosting.

(Sumber:Masterweb.net) Mau pasang web? klik disini.

Semoga bermanfaat.

Thx. Nizh4m

Successfully Building A Lender - Friendly Credit Report.

2009-04-25T06:43:00.000-07:00

Perhaps you are looking to or need to loan some money, maybe from a large, well-known bank, or some smaller financial institution. However, loaning money is not as easy as coming to the lender and asking for a loan – chances are, it will not come quickly, if ever the loan is approved (there is a chance that it may not). Lending institutions, just as a normal stranger, would hesitate to lend some money to somebody they don’t exactly know.

Logically, lending institutions would first want to know the person they are lending money to, because there is always the risk that they will not be paid back, or will receive incomplete payments. This is the reason why there are credit reports. These credit reports are simply records and listings of credit activities, including credit card accounts, past and present loans, unpaid balances, and even how quickly you pay your bills and debts.

Credit reports ultimately affect your credit rating, which the lenders look at when deciding whether or not to loan you money, including how much. These credit reports come from consumer reporting agencies, which are bodies tasked to collect and properly distribute to the proper recipients these reports regarding the consumer. Don’t worry, these credit reports cannot be distributed to just anyone, or else they would be in violation of federal law.

In order to have a greater chance at securing a loan, your credit report and rating must be in good standing. Take note, it is not the consumer reporting agency that declares whether you can get a loan or not – it is the lenders themselves. The consumer reporting agency merely provides the necessary information to give the lenders some background about the person asking for a loan.

A credit report usually contains identification, credit information, public records, and recent inquiries. Identification contains any relevant information including name, address, work history, etc. Credit information contains any credit card accounts, credit limit, bills paid and unpaid (if any), and the like. Public records are simply any state or county records while recent inquiries are those who have acquired your credit report within the past year.

In order to build a lender-friendly credit report, these factors must be addressed and should reflect your good standing. These parts of a credit report should complement each other and show that you are basically a person to be trusted with the money that they lend. Any suspicious data that they find could potentially be the key to the lenders not approving the loan.

For the identification part of a credit report, they will take a look at your work history, so if you have job instability, it will reflect on your credit report and would likely discourage them from loaning you money. It would be better if you stick to a job for quite some time before changing work. They will also take a look at the companies you’ve worked for, if these are in good standing as well.

With regard to credit information (which is perhaps the most important part of the report), you should make sure to pay any bills on time – electricity, water, telephone, cable, etc. Unpaid bills are a big discouragement to lenders, including any previous loans that you may have paid in full, but after the agreed-upon time. If they see that you are a responsible person when it comes to finances, you have a better chance of securing a loan, also with a higher amount.

Public records are usually used to see if you’ve been paying your taxes properly. This, like credit information, shows them your responsibility in financial dealings. They will also state if you have filed for bankruptcy and the like.

The deed of your home (to be used in home mortgages) is sometimes not enough for the lenders – they actually want to look at your credit report and deduce if you are able to pay the loan, and if you’re good in handling finances. If you have a good credit report and subsequently a good credit rating, a loan or home mortgage is not as difficult to obtain. It is important to keep in good standing financially, since consumer reporting agencies are observing you carefully.

The Secret Of Home Mortgage Refinancing

2009-04-06T01:58:00.000-07:00

The Secret Of Home Mortgage Refinancing

Refinancing your home mortgage comes with numerous advantages. Primarily, home mortgage refinancing could save you a lot of home on your payment. It can also allow you to pay off the full home mortgage faster, especially when you have feasible terms.

When you’re planning to refinance your home mortgage loan, make sure to consider these four important things to ensure it will not cause any problems afterwards:

* Learn the terms of your original mortgage

Before shopping around for the appropriate home mortgage lender, ensure that your original mortgage does not have pre-payment penalties or any kind of early payoff penalty.

Many people refinance their home mortgage not knowing that they will be charged for a pre-payment penalty. These penalties usually range from six months up to three years, plus another penalty for early payoff.

Although penalty amount varies, the average pre-payment penalty amounts to a six-month worth of mortgage interest. In order to justify refinancing mortgage loans with pre-payment penalties, you need to have significant payment and interest savings.

* Maximize your options

In order to ensure you’re getting the lowest rate in the market, apply for pre-approvals to several different lenders. However, make sure that the lender is not pulling out your credit history during an initial pre-approval application.

Be aware that every time your credit history is pulled, it slightly reduces your credit score. When your credit history has too many inquiries, this may prevent you from refinancing your mortgage loan with a low rate.

In addition, assess different lender offers concerning interest rate offerings and closing costs. Remember that these two factors will largely affect your lender choice. Choose a lender with feasible rates to maximize your mortgage refinancing benefits.

* Choose your lender

Once you have compared different lenders, you can now allow your choice of lender to pull your credit history. Then, make sure to get the interest rates and closing costs into writing. Ask your lender to provide you with a quotation in advance of all possible costs involved with your loan.

Ask for information about whether the refinancing loan, which you will be getting, has pre-payment penalties. Most lenders leave this important information out, knowing they might scare consumers away.

In refinancing home mortgage, make sure you shop around and assess different lending options. Do not grab the first opportunity that comes before you. Be a smart consumer and refinance your home mortgage with the lowest rate possible.

Consult Professionals for Home Mortgage.

2008-06-11T00:25:00.000-07:00

Buying your dream home can be quite confusing. You are probably just like the millions of aspiring home buyers who do not have enough know-how to determine whether you are getting a great deal or not, you probably are not sure whether a particular home mortgage offer is right for you. If such is the case, it is best that you consult professionals so that you would know what to look for when buying a house or getting a home mortgage.

What to expect when consulting professionals for home mortgage?

You should expect home buying professionals to do the following for you when you consult them:

1. Check your qualifications to determine the price range that is affordable to you

2. Consider your preferences or wishes to look for homes that would fit your taste and requirements

3. Take you to the actual location of houses that would meet your specifications

4. Give you a good backgrounder on the area where the house is such as the profile of the community, where schools are, the location of hospitals, the rates of property taxes, specific building codes and regulations, the quality of services in the community, etc.

5. Give you the specifics of each property such as the zoning, the size of the house and lot area, the age of the property, the equipment there, the utilities, and the other important information about the property.

6. Be your representative to the seller and present what you can offer to them

7. Be the one to arrange the details of closing

8. Give you advice about mortgage lenders and rates, attorney for the real estate, title companies, and home inspectors.

9. Help you determine if the deals are good or not.

Tips when consulting with professional:

-Even if you already have a house in mind, be sure to as the professional to show you more houses. When buying a home, it is important that you see all options before closing a deal.

- Check for signs that you are being manipulated in a certain way either to veer you away from or to persuade you towards a particular house or community. If such as the case you can look for a second opinion.

- Always read everything carefully before signing. Even if it is the professional’s job to help you get a great deal out of a home or mortgage, you still have to be cautious when doing such a major purchase.

It is always best to consult professionals when you are confused about something. When getting home mortgage, a professional can help you make more sense of such important matters.

Choosing The Right Lender.

2008-06-09T05:11:00.001-07:00

Loans are often difficult to obtain, especially with credit reports and credit ratings made easier this time with the advent of technology. Some banks, financial institutions, and other lenders are very picky when it comes to the person applying for a loan, home mortgages included. You can’t really blame them, since they are just being careful with their money, just like any normal person would.

Lenders look for specific things when deciding whether to grant a loan or not, and this is usually reflected in either the credit rating or credit report, or both. However, being careful or specific when it comes to decisions should not be with the lenders only. The borrowers themselves can search for a specific lender, one that offers them the best deal and where they would be most comfortable with.

Lenders can come at various descriptions – national banks, financial and money lending institutions, up to small money lending businesses. They all are unique when it comes to their lending policies, which is a good thing because borrowers have the freedom to choose. In looking for the best lender for you, here are just three important things to consider:

First, the ability. Yes, lenders, no matter how big or small they might be, should have enough money to be able to lend you what you need, so it’s not really a question of their capability, since they won’t be in that business if they couldn’t lend. This is normally the area where national lenders beat out their local counterparts.

Ability refers to the various loan types that lenders can offer – which translates to diversity in products. Because a national lender has access to capital in any kind of economic environment, they often have more to offer than locals, which have fewer sources that potentially could dry up. As a borrower, you ought to consider the ability of the lender in various sources, including services during the loan (which could translate to less hassle), of which national lenders are advantageous.

Second, rate of interest. As is often the case, local lenders have more of an advantage here as they usually bring their interest rates down in order to entice borrowers to do business with them. It is understandable that they do this so that their national counterparts would not be able to monopolize the business locally. Nationals usually have a fixed rate that would have to go through some channels in order to be lowered, which is not much the case with locals.

Since the rate of interest determines how much you will be paying over the course of the loan, this is an important factor to look out for, particularly for the borrower. One percentage point can make a big difference between the borrower being able to pay the loan or not. The consequences of not paying a loan can be grave, both for the short term and long term of it, so this particular factor should be taken into consideration carefully.

Third, accessibility and relationship. As a borrower, it would be more to your benefit if you establish a good working and professional relationship with your lender. Sometimes, this is a hard task to accomplish, while sometimes it can be easy, and so it’s more of a case-to-case basis. A poor relationship with your borrower can potentially lead into a lot of different problems.

In accessibility, there are some things to look out for. One of these is what types of clients the lender loans money to – since there are some that require a higher credit rating, while some deal only with those who have bad credit. It would be better for you to know beforehand what type of borrower a certain lender does business with before actually applying for the loan.

In relationship, a one-on-one professional relationship with a lender is recommended. This is for your benefit as you will be updated and reminded as to the status of your loan, whether there is a payment soon, any potential problems, and the like. If there is no, one-on-one relationship, there could be problems.

These are just three important things to look for in a lender. There are some more, but these are some of the most important. By following these three, you are well on your way to choosing the proper lender for you.

Applying For A Home Mortgage Plan Online.

2008-05-23T23:47:00.000-07:00

Since the advent of the worldwide technology that is the Internet, human life has never been the same. Internet did not only changed the way we do business, or how we communicate with one another, it has also changed the landscape of our lives and how we do things.

The Internet has provided a way to make things better and easier. So how does the Internet manifest itself in our daily lives? Let’s take a look at a very practical example- applying a home mortgage plan. During the days when the Internet was still being conceived, getting a home mortgage plan will take a very long time.

One has to physically visit application centers and meet different kinds of brokers just to know which deal is the best. Now, with the Internet already established, everything has been cramped down into a world which can be accessed with a click of a mouse.

Another good thing about the Internet is that it has broken down the walls of information asymmetry. Back then, many lenders may resort to bringing interest rates up or creating a temporary market shoot up just to earn more money.

They can do this because the people have no other source of information regarding the going rates of home mortgage plans except the lenders themselves. But now, because of the Internet, this information asymmetry has been broken down into pieces. People can access the Internet and find the best deals for a home mortgage plan. Now, that’s convenience and fairness.

A good number of the lenders who have Internet websites usually have a certain “mortgage calculator” which one can use to be able to have an idea as to what kind of loan he can avail. There are also calculators which can give good estimates as to how much one will be paying for a certain period of time throughout the payment period.

One has to make sure to make a good assessment of the different rates that the different lending institutions are offering. This is something that can be done easily with the Internet, since everything is already uploaded and readily made available.

Once the initial research has been done, one can apply for the home mortgage plan of his choice online. This eliminates the need to physically apply for a home mortgage plan at a center.

Going online is the way to go in applying for a home mortgage plan. Just make sure that you did the necessary preliminary research about the company and the rates that they are giving out.

7 Tips to Getting the Best Home Mortgage Arrangement

2008-05-23T00:55:00.000-07:00

Choosing the best home mortgage arrangement is like going to a shop to get a pair of custom-tailored jeans. It might fit the other guy perfectly, but it might not be as good for you. The best home mortgage is one that you’ve decided on after you’ve factored in several considerations.

So before going to a lender to arrange the best home mortgage for you, find out first if you have enough power to negotiate. Here are some tips:

1. Consider your income and disposable cash. If you have a consistent source of money and have sizable cash in bulk to take care of the 20% downpayment, that’s a point for you. If you pay a substantial amount now, you can arrange for lower monthly payments.

2. Take care of your debts. The lender will want to check your credit history to see if you are capable of consistent and responsible payments. A good record can help you a get an arrangement that’s more to your liking.

3. Don’t worry too much about rates. Although timing can factor into a good home mortgage deal, it’s best not to obsess about it too much. Concentrate more on how much you can spend for how long minus your debts.

4. Understand the different kinds of mortgages available. Make sure you know the facts before deciding on one. It might look like the best deal at the start, but consider what happens down the line. It might cost you more money.

5. Consider how long you plan to stay in the house. If it’s 10 years or less, you might be better off taking an ARM (Adjustable Rate Mortgage) than an FRM (Fixed Rate Mortgage). While monthly payments will go up and down with an ARM, the risks are outweighed by the savings.

6. If the lender allows it, try to pay more each year. Adding a month’s worth of payment to your loan that will also cover the principal will result to a shorter period of loan and save you thousands of dollars. If you can arrange for it, instead of paying monthly, pay twice a month.

7. Refinance your mortgage if the interest rates are favorable – meaning, low. Just make sure that it is at least 1% lower. Otherwise, it’s not worth the effort. Refinancing will give you more cash that you can use to pay off the principal. Result? A loan that gets smaller and smaller.

Getting the best home mortgage arrangement will require some research on your part and coupled with consistency and money smarts, you can always find one that’s just right for your needs and wallet.

An Introduction To Home Loan Interest Rates.

2008-05-21T22:44:00.000-07:00

Getting a home loan is one of the very important aspects of modern living, and one of the most important parts of this endeavor are interest rates. However, a lot of people cringe at the very mention of interest because of the common image that is another venue for expending money. But this intimidation in turn results into the little knowledge about interest rates that most people have.

To conquer the fear of something, one should know more about it. Here is a little some useful information about home loan interest rates that could help one get acquainted with home loans in general:

What are the two types of home loan interest rates?

There are two major types of home loan interest rates available for people who are planning to borrow money to buy a house. The first is the fixed rate home loan, in which there is a fixed interest rate as well as monthly dues extended over a fixed period of time, such as 15 years or 30 years. The second type is the adjustable rate home loan, where the interest rates vary up or down according to the fluctuation of the interest rates in the market.

Fixed Rate Home Loan Interest

Fixed-rate home loans are generally the more popular type of interest rate scheme among the two. They are very popular mainly because people are quite adamant about the image of their home payments falling down or rising up because of varying interest rates. People usually get fixed-rate home loans whenever the rates offered for a particular time are quite low, making the mortgages quite affordable for them.

Fixed-rate home loans are generally divided into two types according to the duration of loan 15 or 30 years. Some people believe that 30 years is quite reasonable, while other think that 15 years is more so. Here are the advantages and disadvantages of each type of fixed-rate home loans:

30-year Home Loan

This type of fixed rate loan provides the borrower a chance to loan money for a long time without being bothered by fluctuating payments and interest rates. Many people believe that this type of loan is more affordable because the monthly payment rates are significantly lower that those involved in a 15-year loan since the interest rate is distributed over a wider period of time. The smaller increments of monthly payments allow the borrower to allocate their resources to other investments, which may help them maintain their houses better.

The disadvantage of a 30-year home loan is that it takes very long for borrowers to develop equity since the payments made during the early portions of the loan term just go mostly to the interest instead of the principal.

When computing the overall interest rates, they are significantly higher than that of a shorter-term loan since the term for amortization is much longer. The interest rates for this type of loan are also significantly higher than for the 15-year home loan.

15-year Home Loan

This type of home loan is good for others because they allow the borrowers to develop equity significantly faster because the amortization schedule is shorter. When computing for the overall interest, the borrower would get a significantly lower total than those who are on a longer term. Interest rates for this type of loan are also significantly lower than for the 30-year home loan.

However, some people cannot afford this type of loan because the monthly payments may be very much higher than with the 30-year home loan. Typically, buyers could only acquire houses of smaller value than what they may be able to afford with a loan of a longer term.

Adjustable-rate Home Loans

Despite the idea of fluctuating interest rates, some people prefer adjustable-rate home loans. Those who do generally understand that the interest rates do not really rise or fall like a seesaw. Adjustable-rate home loans actually start with fixed rates for a particular, longer period and then followed by a significantly shorter period of adjustable interest rates.

What is good about adjustable-rate home loans is that the fixed interest rates for the initial period are very much lower than that of fixed-rate home loans. And this fixed-rate portion of the loan is very much longer than the adjustable part. For instance, the fixed-rate term might be 10 years long, while the adjustable rate term would be just a year. Some people actually get to save more in such scenario.

However, people still have to be careful when getting adjustable-rate home loans. Careful study must be made to ensure that interest rates in the adjustable part of the loan do not rise dramatically.

Knowing about the types of interest rates for home loans is an important factor when planning to borrow money to buy a house. To know more about home loan interest rates, it is best to consult with loan experts.

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Opening A Home Mortgage Business

2008-05-21T00:47:00.000-07:00

Jackie works as a real estate agent. The job kept this person out on the field often because the apartment, condominium or home had to be presented to the potential customer.

The salary of this person was commission based. This meant there would only be a paycheck if a deal was closed. Things like this did not happen everyday so Jackie decided to request for transfer into another department in the company as a loans officer.

The new job required going into the field once in awhile and a lot of paperwork to finish while being in the office. The pay here was much more stable since the employer paid a base salary as well as commission for every client that was approved.

Jackie was doing well at the new post and the boss also took notice. Less than a year later, this employee was promoted to the position of broker. This meant more money coming in since this individual would now be the middle person in closing deals.

The highest position in any home mortgage company is the broker. This is because the firm where Jackie was employed in not only sold property but also helped customers find ways to pay for the loan.

Feeling that this was the end of the road and there was nowhere else to go, Jackie left the firm after working there for 5 years and decided to open a home mortgage business.

Jackie did not have enough money to rent office space to start the business. The only thing this individual had was the experience of how a home mortgage company operates so this had to be done by working at home.

The first people that Jackie called up were some clients who purchased a piece of property before. Some of these individuals were ready to buy again while those who weren’t gave the names and numbers of friends and family instead.

Using some former contacts in other real estate companies, this person was also able to get some houses, condominiums and apartments, which can be shown, to potential customers. Being the owner of the business, all the money now went to Jackie whenever a deal was made.

It took awhile for someone like Jackie to learn everything before deciding to put up a home mortgage business. People can do the same thing this person did and be more successful than those who have no idea where to begin and learn from the mistakes made. [array]