The First Home Owners Grant

Copyright 2006 Tracey Anderson



The Australian federal government introduced the First Home Owner Grant (FHOG) in 2000 to compensate for the GST (goods and services tax) and to make buying a home easier for all Australians. Since that time, this popular grant has helped people in every state to buy their first home. As a result of this grant, as well as other economic factors, homeownership in Australia is now at an all-time high.



Depending on your lender, you may be able to use the $7,000 grant as part of your down payment. Not all lenders will allow it to be used in this way however, so if that is your intent, take the time to shop around and compare lenders. The mortgage market is highly competitive, and more lenders are starting to allow the grant to be used as down payment.



There may be circumstances where you may prefer to stay with a certain lender, even if that lender does not allow the funds to be used as down payment; for example, if the lender offers the most attractive interest rate, or lower fees than other lenders. Buyers must balance the cash they have available for down payment against these other factors that may make the loan less costly overall. Even if you do not use it as a down payment though, there are many other practical uses for the Grant. The process of purchasing a home entails many expenses. The Grant may be used to offset any of these expenses as the buyer sees fit. For example, you may use it to offset stamp duty or insurance, real estate agent fees or other mortgage-related costs, such as points or application fees.



The Grant is administered by each state or territorial government. Most first-time buyers will qualify for the grant; specific requirements are available online on the FHOG website (http://www.firsthome.gov.au/). Qualifications are very similar, regardless of your state. You must be a citizen or permanent resident of Australia, and you must be a natural person--in other words, not a corporation. Also, each applicant and applicant\'s spouse must not own, or have owned property in Australia in the past, even if it is property that is held with another individual. None of the applicants may have received the Grant previously. The Grant is meant for owner-occupants. Applicants must be buying the property for living in, and be prepared to occupy it within a year of purchase.



The Grant is not means-tested and is therefore available to all applicants regardless of income category. The grant is not taxable. In addition to the Grant, you may also be eligible for exemption from conveyance duty, depending on your state.

Article Source: http://www.articledashboard.com

Tracey Anderson is a mortgage broker specialising in helping Australian homebuyers find the right mortgage. For more information visit MortgageMall (www.mortgagemall.com.au).

Rising Rents Grad Students buy Condos

Given the rising rents in Philadelphia and the surrounding area, many students and parents are finding it more reasonable to buy a condo. Rents in the city are at $1300.00 to $1350.00 a month for a one bedroom unit.

Since students tend to be in the area for at least three years, they are good potential buyers. They are using their time in the city to advance their education and great an appreciated investment. Real Estate currently is a better investment than taking a chance in the stock market which has been under performing in the last few years.

There are many advantages to home ownership for students and their parents -

1.Stable housing costs 2.Location of your choice 3.Reduced transportation costs 4.Lenders are willing to finance the entire purchase price 5.Future income rentals 6.Ease of sale of units

My daughter attended Drexel University for five years to pursue her Engineering Studies. At the time, buying condominiums was not \'vogue\'. Had I done so, the value of the property now would be more than double.

If you have students going to College in the future, this would be a good idea to consider. The obvious reason is the appreciation will help in the future to offset the cost of your \'pricey\' education.

Nancy is an Accountant and Real Estate Professional. Visit RealEstateLady

Article Source: http://EzineArticles.com/?expert=NanWood

Instant Approval Credit Cards Are They Worth It?

What could be better than getting a credit card, in a hurry, and with a good amount of credit on it? Many credit card companies make such offers, and this article will show you what to look for when you shop for instant approval credit cards.



It used to be that you would fill out an application, put it in the mail, and then you might wait up to a month to get a response from a credit card company. Imagine, in the computer age, waiting up to a month before word gets back to you as to whether or not you have been accepted! Now, though, it has changed, you can get an instant approval credit card online - in just a few seconds. But are instant approval credit cards worth it?



Are Online Applications Secure?



Many wonder if the Internet is secure -- that is, will their ID be stolen if they type in some of their personal information. The honest answer is that it is possible -- just like it is more probable that a letter could also be opened and your data stolen from that. The Internet, though, has some very secure Web sites - especially official sites of the credit card companies.



How Long Will It Take?



The Internet allows for information to be submitted in an instant -- as you know. Once received, your application will go through a process of being checked against your credit rating. The credit card issuing company will have their own preferred source, and from this they will either approve or disapprove of your instant approval credit card application -- and get the results back to you -- all within mere minutes. In some instances, the company will need to take a further look at your credit history in order to make a fuller determination.



If approved, there will be a little waiting period before you can actually use the card. Obviously, it will have to be mailed to you. That can take up to about 10 days.



What Should You Look For In A Card?



There are four basic things you need to consider in a card, before you fill out the application.



The APR



This is the interest rate of the credit card. It usually is stated in two different ways, since it refers to two different rates. The first is the introductory rate - you want to look for a card that has 0% for this, and you want it to be for a year. After that, the card will go to a regular APR. You need to compare cards, and try to get the lowest APR possible.



The Annual Fee



The best is to get a no annual fee card. Some instant approval credit cards have no annual fee, but only for the first year.



The Benefits



The benefits that you need to look for should be geared to your particular situation. If you travel a lot, and fly, then you will want a card that gives you air miles. Other cards will give you cash back, or rebates of between 1 to 5%, particularly on purchases of groceries, medicines and gas (these are among the highest rewards). The rates that determine your benefits will vary, though, depending on the type of purchase, and the type of card. Some of your better cards, which require an excellent credit rating, may even give you 10 or 20,000 air miles just for signing up and making your first purchase!



Balance Transfers



If you have more than one credit card, and you want to consolidate it all to a 0% APR to save some money, then be sure that it has this feature - not all cards will permit this. This could work great for you if you will seek to pay it all off within one year.



If you have other credit cards and feel you are paying too high of a rate of interest, then getting your instant approval credit cards online may be what you need to get a better rate. After all, it will only take a few minutes, and you could be on your way.

Article Source: http://www.articledashboard.com

For more on instant approval credit cards, Robert Alan recommends that you visit CreditCardAssist.com