FHA versus Rural Housing Loan
The Federal Housing Administration and the Rural Housing Loan are both federal housing loan programs that provide the opportunity to those with bad credit or of a lower income bracket to get a home. They are often used by first time home buyers because the requirements on both housing loans are lax by comparison to a loan that you would receive from a bank or mortgage company.
FHA mortgage loans are federally insured. They have very lax qualifications for those with bad credit or first time home buyers. The loan requires a very low 3.5 percent down payment. Closing costs and insurance are normally cheaper on FHA mortgage loans when compared to other home loan or federal housing mortgages.
The Rural Housing Loan is known for requiring no down payment so it is often utilized by those who have a lower income. The USDA backs the loan. One of the few differences between the rural housing loan and the FHA mortgage loan is that it requires you to move into a rural area as defined by the USDA.
This does not mean that you will be forced to live on a little house on the prairie. Many area deemed rural include many small towns and communities with a Wal-Mart, McDonalds and Pizza Hut just two minutes away.
Both of these federal housing programs have their perks. The question really shouldn’t be which loan is better than the other, but which loan it better for the specific buyer. Do your research then apply for the federal housing loan that is right for you.
FHA mortgage loans are federally insured. They have very lax qualifications for those with bad credit or first time home buyers. The loan requires a very low 3.5 percent down payment. Closing costs and insurance are normally cheaper on FHA mortgage loans when compared to other home loan or federal housing mortgages.
The Rural Housing Loan is known for requiring no down payment so it is often utilized by those who have a lower income. The USDA backs the loan. One of the few differences between the rural housing loan and the FHA mortgage loan is that it requires you to move into a rural area as defined by the USDA.
This does not mean that you will be forced to live on a little house on the prairie. Many area deemed rural include many small towns and communities with a Wal-Mart, McDonalds and Pizza Hut just two minutes away.
Both of these federal housing programs have their perks. The question really shouldn’t be which loan is better than the other, but which loan it better for the specific buyer. Do your research then apply for the federal housing loan that is right for you.
Why company registration is significant and my experience of registering a company
When a company is to be started and about to open, one of the key things to focus is the registration of the company.
One has to get the company registered and unless and until this is done, the company will not be able to trade or do big business. When my business partner and I started our own company, we also had to complete the company registration which both consumes time and is complex.
In hindsight, I needed the help of a specifically skilled agent to do the registration; apparently, that helps to make this task simpler. The very first thing I had done in performing the registration of my company was getting approval from the registrar of companies so that I could choose my own office name. Then, I had to prepare the Memorandum of Association, and that was done by seeking help from an agent who is an expert in this stuff.
The articles and the documents with all the significant information were then worked upon. I had to pay a certain amount of money to ROC (i.e. the registration fees), and then I was given the certificate of Incorporation.
After all these things were done, I was issued the business commencement certificate by the Public limited company. I always wanted to have my company name of choice and thus getting the name registered with ROC directory was an important step for me.
Since I had my corporate partner along with me, I had access to all the information about the workers who would be a part of my company and so the creation of the memorandum of association was an easy thing for me. Some of the documents I had to submit for the registration are the Memorandum and articles of association as I have already written above. The corporate and share certificates along with the minutes and bank accounts were also submitted. However, the one thing I forgot to submit was the seal or the stamp and thus I was issued a letter from the registrar and had to submit it as soon as I could.
After going through all these hoops, I was summoned by the registrar on the grounds that I had not submitted the director and the secretary’s name while applying for the registration; I had hoped these sorts of problems would be overcome by seeking the help of agents. I had to study the corporate laws before establishing the constitution of my company, and the rules and laws that needed to be defined at the time of registering.
However, the rules which are defined during the registration process can always be changed by following certain procedures. To my advantage, I had taken the help of an advocate to define my constitution, and I would advise you to do the same. Thus while registering for my company, there were so many issues that I have described above, and with the process becoming more complicated, people are seeking registration online which saves a lot of time and effort.
One has to get the company registered and unless and until this is done, the company will not be able to trade or do big business. When my business partner and I started our own company, we also had to complete the company registration which both consumes time and is complex.
In hindsight, I needed the help of a specifically skilled agent to do the registration; apparently, that helps to make this task simpler. The very first thing I had done in performing the registration of my company was getting approval from the registrar of companies so that I could choose my own office name. Then, I had to prepare the Memorandum of Association, and that was done by seeking help from an agent who is an expert in this stuff.
The articles and the documents with all the significant information were then worked upon. I had to pay a certain amount of money to ROC (i.e. the registration fees), and then I was given the certificate of Incorporation.
After all these things were done, I was issued the business commencement certificate by the Public limited company. I always wanted to have my company name of choice and thus getting the name registered with ROC directory was an important step for me.
Since I had my corporate partner along with me, I had access to all the information about the workers who would be a part of my company and so the creation of the memorandum of association was an easy thing for me. Some of the documents I had to submit for the registration are the Memorandum and articles of association as I have already written above. The corporate and share certificates along with the minutes and bank accounts were also submitted. However, the one thing I forgot to submit was the seal or the stamp and thus I was issued a letter from the registrar and had to submit it as soon as I could.
After going through all these hoops, I was summoned by the registrar on the grounds that I had not submitted the director and the secretary’s name while applying for the registration; I had hoped these sorts of problems would be overcome by seeking the help of agents. I had to study the corporate laws before establishing the constitution of my company, and the rules and laws that needed to be defined at the time of registering.
However, the rules which are defined during the registration process can always be changed by following certain procedures. To my advantage, I had taken the help of an advocate to define my constitution, and I would advise you to do the same. Thus while registering for my company, there were so many issues that I have described above, and with the process becoming more complicated, people are seeking registration online which saves a lot of time and effort.