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Digital Currency - Cashless Society and Future of Money

  What can replace cash? Due to lots of innovation in this 21st century, nothing seems impossible around the globe. Reality is in front of us, as money will strip off its tangibility and cryptocurrency will appear out as individual units for virtual exchange. This requirement can be fulfilled with the help of Internet, iPhone or any Android-Gadget. Cashless transactions are practiced globally. Various countries like India, Sweden, and Belgium etc... have taken a back step from paper currency. Sweden has an objective to become the first country in terms of cashless economy. Two years ago, demonetization took place in India and most of the population in Belgium does their payment through cards or mobile phone apps. Even, there is a creation of law to limit the cash transactions up to a certain amount. The capability of digital currency Exchange There is a great opportunity for everyone to invest in tokens. The waves related to Cryptocurrency may give an allowance to receive the tokens w

What you need to know about qualifying for a home loan


Are you anticipating buying your first home? First home is the dream of any buyer. But before taking into consideration the scenario of the present real estate market, you should make it sure that you are qualifying for a home loan. It will make your journey to purchase your dream home smoother. The most easy and accessible way for this is taking help of a mortgage broker. But it might increase your headache as it does not guarantee that you'll get the most suitable loan.

While deciding the type of loan you want first look at your finance and then decide the type of loan. If you have no idea about how to qualify for a mortgage loan you will be left with very less options. And of course it means you will have to repay more than you should. Your present credit score is the first & foremost factor to be taken into account by the mortgage lenders to approve you the loan. Rather it is only one side of the coin. Each lenders has their different guidelines for different home loan programs.

There are some general home loan guidelines I'm providing here, check it out:
1. The total of your monthly payments on mortgage, homeowners insurances, taxes and any other home related spendings ( fixed ) must be between (25-28)% of your gross monthly income.
2. The total amount calculated according to above formula with any other long term debt must be less than 40% of your gross monthly income.
3. More improved will be your credit score more better options and lucrative interest rates will be opened to you for qualifying for a home loan.
4. The amount you are able to spend as the down payment is also an important factor to any lender. A large down payment assures them that you have control over your financial situation and it's a positive aspect for you to get approved.
5. If you are a self employer, your status might not be tempting for the lenders as lacking a regular job is considered from a negative view point.
6. Your regular pay check is your positive side.
7. Lenders want a stable income record means stability in your job is also a factor.
8. Your credit card debt ( if you have any ) might be counted by the loan agent against how much home you can afford.
9. Know your debt to income ratio. Take help of different calculators and get to know if your debt load is quite healthy or you should take immediate action against it.

If all these seems too much time consuming for you take help of a professional. Only they can provide you with the proper guidance about qualifying for a home loan to make your dream come true.

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