Mortgage Home Buyers - Free Essay Example

Sample details Pages: 3 Words: 957 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Introduction: Buying a home depends on a person financial capability whereby if one is financially stable one can own a large and well designed house. Many people are now using mortgage system to buy homes. Mortgage is a legal agreement by which a bank or an organization lends money to a person in order to buy a house and then the individual must pay the money back over a given period of time with interest. This paper focuses on the important issues that home buyers should take into consideration before making decision on buying a home, many home buyers will prefer mortgages to finance home buying but there are certain restriction in acquiring a mortgage that is pout in place by mortgage organization and banks to restrict bad debts and losses, this paper discusses the qualification of acquiring a home and the mistakes that a home buyer should not make when making decisions regarding home buying financed by mortgages. Qualifications: Down payment funds: A home buyer should be in a position to pay a certain amount of the value of the house, the amount that the home buyer is willing to put down as a form of down payment determines the amount to be given. Some mortgage companies will set a certain amount example 20% of the loan must be put down as down payment. This is first qualifying issue for a home buyer and therefore a home buyer must have saved some amount toward home buying. The income credit ratio: This ratio is important when one wants to acquire mortgage, this ratio determines wether an individual is able to repay the installments that are put in place by the mortgage from, this is a way of determining the creditworthiness of a home buyer and if this ratio is satisfactory the next qualifying issue is administered. Credit history: Mortgage firms will also check the credit history of a home buyer, if the credit history of a home buyer is poor this will disqualify him or she from getting the mortgage, the worst case is where a home buyer was bankrupt or even cases where the home buyer was late in paying bills. Stable and sustainable income: A home buyer with a stable and sustainable income will definitely qualify for the mortgage, however if the mortgage firm finds out that the client has an unstable and unsustainable income then this definitely discourifieds him or her. Cash reserves: The amount of savings also determines where one qualifies for a mortgage, high credit reserves will increase the possibility of qualifying for a mortgage whereas a inadequate reserves will disqualify individuals. However despite the various high requirements by mortgage firms an individual can still acquire loans even if they do not meet all the requirements, some of this reason include if the home buyer is accepting to pay high installments for the mortgage, and the existence of alternative loan programs? These issues are discussed below: Higher ratio payment: Most mortgage firms requir e that an individual pay a certain ratio of income as installment, however if an individual is willing to apply a higher ratio then this may lead to the qualification of the individual for the mortgage, a larger down payment may also automatically qualify an individual for the mortgage. Mortgage mistakes that a first time buyer should never make: Always there is a need to find the right person to guide you through the mortgage system. There are many mistakes that people make when buying a home whereby they realize when it is already late, one must be aware of interest rates and the time period which one will be required to pay, also installments to be paid and the possible changes in interest rates that may affect the personal income of an individual. Credit reports are important when buying houses, a home buyer must provide statements from banks showing his or her creditworthiness and the possibility of repaying the loan. There is also need to assess any possible risks inv olved in home purchasing whereby people are not well aware of their job security in their current job which may result into default of prepaying the mortgage. A home buyer should also make reasonable offers to sellers of homes, this should show how serious the buyer is and a result the buyer will end up getting the best home, however home buyers should not buy houses that are over and above the market price just to later find out that the home they acquired is not that worth in the market, this happens in case the buyer wants to resell the house to other buyers. Therefore from our above discussion it is clear that there is a need to take time to view all the available offers in the market, since mortgages are paid back for a longer time example 10 years there is need to properly asses possible future income generating projects that will help in repaying the loan, there is also a need to assess any possible changes in interest rates in the near future that may increase the leve l of interest rate paid. Conclusion: The mortgage process is the most ideal way to use in order to buy a home. One can buy a house by acquiring loans from various organizations such as banks and repay the amount in the future .there is also a need to consider insurance payments when acquiring homes and also possible changes in interest rates that may increase the installments of an individual. References: Real estate (2008) home guide, retrieved on 29th April, available at www.realestateabc.com/homebuying/ Robert Irwin (2003)Tips and Traps When Buying a Home, McGraw Hill publishers, New York Sid Davis (2004) Guide for Buying a Home, Amacom publishers, New York Don’t waste time! Our writers will create an original "Mortgage Home Buyers" essay for you Create order

Volume, Risk, and Price Variances Essay Example

Essays on Volume, Risk, and Price Variances Essay The paper â€Å"Volume, Mix, and Price Variances" is a  perfect example of an essay on finance accounting. Based on the variance analysis on the excel file, the revenue (actual price * the actual number of shots and patients) was $ 66,000 and $ 98,000 generated by flu shots and patient treatment respectively. Therefore, the total revenue for the organization = ($ 66,000 + $ 98,000) = $ 164,000. Since the total cost of operations (wage rate/ hour * number of hours) = (40 * 1,000) = $ 40,000. Therefore, the profits attributed to the organization = (Revenue – cost) = (164,000 – 40,000) = $ 124,000 (Finkler, Purtell, Calabrese Smith, 2013).Variance Changes is the contrast between genuine results and expected results. The expected results are the standard expenses and standard incomes. There are various types of variances (selling price variance, the sales volume variance, price, rate and expenditure variances, and usage and efficiency variances). The price variance is a measure of the impact on the expected benefit of an alternate offering cost to the standard offering cost. It is ascertained as the contrast between the standard income from the real amount of merchandise sold and the genuine income (Finkler, Purtell, Calabrese Smith, 2013).The sales volume variance is the distinction between the real units sold and the planned amount, esteemed at the standard benefit or commitment per unit. At the end of the day, it gauges the build or decline in the middle of standard and genuine benefit or commitment as an aftereffect of the business volume being higher or lower than planned. Price, rate and expenditure variance measure the contrast between the real measure of cash paid and the measure of cash that ought to have been paid for the genuine amount of materials or the real number of hours of work or variable overheads utilized (Finkler, Purtell, Calabrese Smith, 2013).Usage and efficiency variance measure the contrast between the real physical am ount of materials utilized or the hours taken and the amounts that ought to have been utilized or taken for the genuine volume of generation. These physical contrasts are then changed over to cash values by applying the fitting standard expense. The purpose of contrasting flexed spending plan and genuine figures is to see what remedial activity, if any, is expected to guarantee that the arrangement will be effectively finished. In this way, every difference should be considered to see whether it ought to provoke control activity (Berger, 2011).The following three aspects should be kept in mind while conducting a variance analysis: materiality, trend, and controllability. Materiality - insignificant variations in a solitary period are certain to happen infrequently and are unrealistic to be critical. Getting a clarification is liable to be lengthy and disturbing for the director concerned (Berger, 2011).Trend - Be that as it may, little varieties that happen reliably may require more consideration. Fluctuation pattern is more imperative than a solitary arrangement of changes for one bookkeeping period. Pattern examination gives data which gives a sign concerning whether a fluctuation is fluctuating inside adequate control constraints or is moving into a crazy circumstance. The pattern is talked about further beneath (Jackson, Sawyers Jenkins, 2009).Controllability - Controllability should likewise impact the choice of whether to examine further. On the off chance that there is a general overall cost increment in the cost of a vital crude material, there is nothing that should be possible inside to control the impact of this. In the event that a focal choice is made to honor all representatives a 10% expansion in compensation, staff costs in a division will increment by this sum and the change is not controllable by a division's administrator. Wild changes require an adjustment in the arrangement, not an examination concerning the past (Jackson, Sawyers Jenkin s, 2009).

Alternative Teaching Strategies Free Essays

From Infancy until the late stages of our lives, we undergo different stages of development. In each of the stages, we are supposed to be mastering some craft, or prioritizing a task that we have not given the time of day before. Several psychologists have come up with theories about these stages, each intertwined with the other. We will write a custom essay sample on Alternative Teaching Strategies or any similar topic only for you Order Now This paper will concentrate on Jean Piaget’s theory of Cognitive Development, specifically, to Concrete Operational Stage, in relation to the experience of tutoring Math to the children in St. Kitts. According Perret-Clermont and Bessire, (2004) from encyclopedia. com, â€Å"Piaget compared ideas and facts, the philosophy of science and the observation of children, working out the fundamental principles of genetic epistemology. † Concrete Operational Stage happens from the ages 7 to 11 years. According to Piaget, at this stage, reversibility, that is objects when changed has the ability to return to its original state, is attained. According to Marshall (1998) in encyclopedia. com, â€Å"In the stage of so-called concrete-operations (which lasts from about the ages of 7 to 11 or 12), children start to classify objects, can take the role of others and understand the nature of cause and effect, but still have difficulty thinking about abstract concepts without referring these to real events or particular images with which they are familiar. † Edwards, Hopgood, Rosenberg and Rush (2009) further wrote in their website, â€Å"During this stage, the thought process becomes more rational, mature and ‘adult like’, or more ‘operational’, although this process most often continues well into the teenage years. The process is divided by Piaget into two stages, the Concrete Operations, and the Formal Operations stage, which is normally undergone by adolescents. In the Concrete Operational stage, the child has the ability to develop logical thought about an object, if they are able to manipulate it. By comparison, however, in the Formal Operations stage, the thoughts are able to be manipulated and the presence of the object is not necessary for the thought to take place. † Other characteristic for this stage was mentioned by Atherton (2009) in the Learning Teaching website: â€Å"Can think logically about objects and events; Achieves conservation of number (age 6), mass (age 7), and weight (age 9); Classifies objects according to several features and can order them in series along a single dimension such as size. † An Anonymous writer from Child Development institute (2008) said the following for this stage of development, â€Å"Evidence for organized, logical thought. There is the ability to perform multiple classification tasks, order objects in a logical sequence, and comprehend the principle of conservation. Thinking becomes less transductive and less egocentric. The child is capable of concrete problem-solving. Some reversibility now possible (quantities moved can be restored such as in arithmetic: 3+4 = 7 and 7-4 = 3, etc. ) Class logic-finding bases to sort unlike objects into logical groups where previously it was on superficial perceived attribute such as color. Categorical labels such as â€Å"number† or animal† now available. † It is from these that the project was initiated. For two months, the author of this paper has spent time with the school kids of St. Kitts. Everyday, tutorial lessons were held to aid children in accomplishing their tasks at school. A set of survey questions was also distributed to find out their views to help in setting up the project. The survey consisted of 10 questions specifically phrased and distributed to both the children and their parents. Of the ten questions answered by the children, the top four questions that were noticeable were questions number 2, 4, 5 and 9. Question number two asked them if their parents spend quality time with them and their schoolwork. Nearly 70% of the population said â€Å"no. † Majority of the children answered 4-5 hours with question number four that asked about the amount of time they spend playing after school. When asked if they spend time studying at home, besides at school, for question number 5, only 43% said â€Å"yes. † It is however, noteworthy that 100% of the children answered â€Å"yes† in question number nine, â€Å"if I were to tutor you for the next two months, do you think you will be better? † As for the result on the survey to the parents, the top four questions that had numerical impact were questions number 1, 2, 3 and 5. For question number one, only 50% of the parents say that they are involved in their children’s homework. The involvement of the 50% though varies from subject to subject as they have limited knowledge to some areas. Close to 74% of the parents answered â€Å"yes† to question number two, â€Å"Do you ask to see their homework? † Comparing the results for both questions number one and two, the disparity between involvement (helping children out) and simply looking at the homework, is already evident. Looking at the homework does not necessarily mean seeing through the process of its completion. One of the more interesting results is the answer to question number three, as it deals with time frames parents set to their children in accomplishing their homework. Only 20% of the population does it. The last question that had impact is for the one that asked whether or not parents cut out distractions (like TV or computer) in the background? Only 12% were confident in saying â€Å"yes,† whereas a majority rated it as â€Å"not sure. † This result roots from the fact that they don’t entirely remove these distractions, because most of the parents still do their own chores and tasks while their children are doing their homework. The experience has brought the conclusion that lack of attention and attentiveness to and from the kids are the biggest contributors for the knowledge deficit in the community. The objective of the project is to come up with an alternative that will help children concentrate on doing assignments to gain desire for learning anew, to help and equip parents with the styles of teaching, so that after this project, they can do it themselves. The project and teaching plan, however, are limited to tutoring Math, and not other subjects. Nursing Diagnosis: Knowledge deficit related to lack of application of age-appropriate (developmental stage) learning methodology. While the children answered in such manner to the survey questions, an apparent lack of appropriate application of the developmental ability and capability is a contributor to making the children interested in the subject area and making the parents involved in the assignments. Parents have little knowledge on how to approach teaching children, and they are not wary about the fact that children at different stages comprehend lessons in different manners or levels. How to cite Alternative Teaching Strategies, Papers

Driverless Cars for Better Transportation Service - myassignmenthelp

Question: Discuss about theDriverless Cars for Better Transportation Service. Answer: Introduction The paper reflects on Ethical and social issues that will affect the society if driverless cars are introduced in the future. According to Richtel and Dougherty, driverless cars are generally defined as robotic vehicles that are mainly designed for traveling between destinations without a proper human operator [5]. It is identified that driverless cars will be helpful in eliminating accidents that are generally caused due to the error of the driver. Furthermore, the driverless car will be advantageous in improving the traffic flow by dramatically enhancing highway capacity and will also assists in eliminating different types of traffic congestion [3]. In spite of the advantages, driverless cars can creates number of ethical as well as social issues that generally assists in affecting the society. In this report, different types of ethical as well as social issues that are associated with driverless cars are elaborated. Ethical as well as social issues that are associated with driverless cars The driverless cars are generally representing major innovation for the entire automotive industry as their potential impact in context to timing as well as uptakes remains hazy. The automotive vehicles are generally playing a significant role in context to economy, mobility as well as society [6]. They will be quite helpful in reducing traffic, enhancing safety, better transportation service, as well as helpful in reduced emission. In spite of the advantages, it is analyzed that there are number of ethical and social issues that will affect the society if driverless cars are introduced in the future. The technologies that are associated with driverless cars are presenting number of ethical challenges. One of the common arguments on behalf of driverless cars is that they are helpful in decreasing traffic accidents by enhancing the welfare of the humans. Even if it is found to be true, it is identified that deep questions remain about how the companies of car or the public policy will be helpful in identifying or safety. The question that whether artificial intelligence can actually replace the different capacities associated with moral agents leads to the rise of trolley problem [4].The engineers who are associated with driverless cars will need to tackle the questions as well as different complicated scenarios. Another ethical concern related with the introduction of driverless cars is the loss of number of the drivers. It is identified that more than 3.5 million drivers of truck generally overhaul cargo as per the statistics of American trucking associations [7]. If driverless cars will be introduced then the drivers of the automobile will lose their jobs which, is considered as one of the ethical responsibility of the society [2]. The displacement of the people from their job is not only the transformation of labor but also the transformation inn transportation whether transport, public or private. Autonomous cars generally will make decision depending on speed, road conditions, weather as well as data gathered with the help of different sensors that generally include LiDARS and radars. The driverless cars will generally calculate the course of action as per the speed of travelling as per example [1]. However the main problem is in processing as well as gathering the required data that quickly enough for avoiding dangerous situations. It is identified that during this situations, it only depends on the vehicle to keep an individual alive or dead. One of the biggest concerns is to keep the autonomous vehicle protected from hackers. Due to the use of driverless cars, there are number of understandable concerns that are associated with vulnerability as well as network malfunction that is generally an issue for individuals, governments as well as in business. It is identified that the security of customer data, software enabling as well as network co-ordination in autonomous vehicles must be secured properly due to Cybersecurity issues [7]. Data collection is considered as most common as the individuals have certain assurances around personal as well as private information. Self driving cars can struggle for interrupting with different unusual situation that is traffic officer who is waving vehicles. It is analyzed that simple programming will not work properly as it is quite impossible to code the entire scenario in advance [6]. Body languages as well as other conceptual clues are quite helpful in navigating with different situations but it is quite challenging for a computer to analyze all the scenarios and thus the rate of accidents can be enhanced on the roads if driverless cars are introduced in the future. Autonomous vehicles are unable to figure out the responsibilities as well as the future tricks. They are also unable to notify the passengers who is for example reading or taking a nap and therefore it is quite difficult to respond properly by the car at proper time which can create number of problems [3]. In addition to this, it is found that other issues like user acceptance as well as cost will be generally decided in the market place. One of the hardest issues that are associated with driverless cars is that they generally want to make proper societal tradeoffs between tremendous cost as well as wonderful benefits. As with proper technological transition, it is analyzed that driverless cars will generally face number of social as well as ethical issues. Conclusion It can be concluded from the entire assignment that in future if driverless cars are introduced, it have both advantages as well as disadvantages. It is identified that the driverless cars are helpful in eliminating accidents that generally occur due to the human errors. However, there are number of ethical as well as social issues that are generally associated with the introduction of driverless cars. Due to the ethical as well as social issues, number of problem can arise that include loss of personal data, increased road accidents as well as malfunctioning of network. Therefore, it is quite important to think about the mitigation plan for the social as well as ethical challenges which will be occurred before the introduction of the driverless cars. References Bonnefon, J.F., Shariff, A. and Rahwan, I., 2016. The social dilemma of autonomous vehicles.Science,352(6293), pp.1573-1576. Colquitt, J., Dowsett, D., Gami, A., Equities, I.F., Jaysane-Darr, E., Partner, I.P.C., Manley, C., Equity, F., Shad, R. and Income, I.F., 2017. Driverless cars: How innovation paves the road to investment opportunity. Greene, J.D., 2016. Our driverless dilemma.Science,352(6293), pp.1514-1515. Pendyala, R.M. and Bhat, C.R., 2014. Activity-Travel Behavior Impacts of Driverless Cars. In93rd Annual Meeting of the Transportation Research Board. Richtel, M. and Dougherty, C., 2015. Googles driverless cars run into problem: Cars with drivers.New York Times,1. Thierer, A. and Hagemann, R., 2015. Removing roadblocks to intelligent vehicles and driverless cars.Wake Forest JL Pol'y,5, p.339. Waldrop, M.M., 2015. No drivers required.Nature,518(7537), pp.20-20.