Construction Loans: Types, Coverage, And Everything You Need To Know

If you’re in need of financial help to build or renovate your dream home, then construction loans are the answer to your prayers. However, it is essential to note that such mortgage is different from your traditional home loans.

If you’ve made up your mind to build your home rather than buying a prebuilt home, then you must know that construction loans work differently from a traditional mortgage. Here is what you need to know about Construction Loans.

Defining Construction Loans

Construction Loans are short-term loans borrowers can use to cover the cost of your home’s building or rehabilitation. When approved, all you need to pay while your house is being constructed is the interest of the loan, meaning you have ample time to save for the amount you need to pay for the loan. Once construction is complete, you can either pay in full or convert the loan into permanent mortgages.

Construction Loan Coverage

The coverage will depend on your project, but it usually covers for the following:

  • Closing costs
  • Contingency reserves
  • Fees
  • Interest reserves
  • Labor
  • Land
  • Materials
  • Permits
  • Plans

The Three Basic Types of Construction Loans

Usually, lenders only offer to construction loan types – the Construction-to-Permanent Loan and the Stand-Alone Construction. However, there are those who also provide Renovation Construction Loans.

Construction-to-Permanent Loans

Also known as One-Time-Close Construction Loans, these are an excellent choice for people who already have a definite timeline and straightforward construction plans at hand. You can enjoy predictable interest rates, and it can convert to a permanent mortgage after your project is complete.

Stand-Alone Construction Loans

These will require you to get qualified and approved for the loan. One needs to pay the mortgage once the construction is complete, and may require you to pay closing costs multiple times. The interest rate is unpredictable, meaning if it increases while your home is under construction, you can expect higher interest rates after completion. This is for individuals with large cash reserves.

Renovation Construction Loans

These are the type of construction loans that allow borrowers to fund major renovations and repairs. Thus, the renovation construction loan is perfect for people buying a fixer-upper. The costs are wrapped in the mortgage together with the purchase price.

Good Read: Loan options abound for remodeling projects

Advantages and Disadvantages Of A Construction Loan

  • You will only pay the interest of the loan until construction is complete. Your lender won’t ask you to start paying for the principal amount during the construction phase. You’re only expected to pay the interest thus giving you more time to save.
  • They usually come with higher qualification standards. Since construction loans are flexible, they are often harder to qualify for. Most lenders will ask for 20% down payment along with a good credit score.
  • Such loans have very flexible terms. The terms are so versatile to the point wherein you can make the conditions work around your needs and situation.
  • Since such loans are short-term mortgages, they come with risks. Like any
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3 Essential Marketing Strategies For Your Business Start-Up

It’s no secret that marketing is essential to all businesses, but none more so than a new start-up adventure. After all, unless people are aware of your start-up, it’s going to be hard to get those initial sales up and running.

So today, the experts from Kendon Packaging will run through the essential marketing strategies that simply must be implemented by any business hoping to succeed in a competitive and saturated market.

Image: Unsplash


Page one of any marketing textbook will emphasise one thing – branding, branding, branding.

If you’re able to create a distinguishable and memorable brand, you’ll soon see your sales spike. Consumers like familiarity, so go with something simple and eye-catching that will keep your product range in the customers’ minds and will make them more inclined to choose your product on the shelves.

The key with branding is to keep it consistent regardless of its medium. From advertising boards to product packaging, consistent typography, colour and style will begin to subconsciously reiterate your brand name in the minds of the consumer, helping them associate your brand with the product type and subsequently making you a more prominent industry player.


It may have been around for a while, but email still serves as one of the – if not the – most effective forms of communication between consumer and company. Begin to build a mailing list of subscribers, collecting the addresses from physical customers and through offering a ‘sign up’ option clearly displayed on your website.

Once you’ve obtained an interested potential customer’s email address, mailing lists allow you to instantly reach their inbox with promotional material – and what’s more, it’s free! Be sure to diversify your outreach with a mix of non-commercial and commercial content, as well as varying the medium (videos, photographs, text – mix it up!) to ensure your subscribers stay engaged and in turn keep opening those emails.

Social media

With 2.46 billion people using social media in 2017, to say these platforms can’t be ignored would be a monumental understatement.

The advantages of social media are vastly extensive, making its use a fundamentally essential part of any marketing strategy, especially start-ups. Begin by establishing a presence across the major platforms (Facebook, Twitter, Instagram) by creating content that users (potential customers, remember!) can engage with, obtaining likes and follows in the process.

While you should, of course, utilise tools such as hashtags to create an aspect of authentic consumer interaction, you should set aside a small budget to fund Facebook and Twitter promotional campaigns. These allow you to reach a specifically targeted demographic from the growing online users and, therefore, serve as an imperative marketing tool for any business, old or new.

Image: Pixabay

Embarking on a new business adventure can be a daunting prospect, but by utilising these 3 essential marketing strategies, you should be up and running in no time at all – with word spreading and sales increasing much faster than you may think.

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Track and Trace Processes Reduce Pharmaceutical Drug Related Crimes and Abuse

The pharmaceutical drug industry provides lots of medical relief for people suffering from various ailments. The United States is considered the number one country in terms of criminal activity related to prescription drugs. The Food and Drug Administration (FDA) establishes certain regulations to help control the illegal activity surrounding the prescription drug culture. Track and trace processes have been included within FDA regulations for control of the prescription drug market.

Pharmaceutical Drug Abuse in the U.S.

The National Study on Drug Use and Health states that there are close to 28.6 million Americans who use drugs within 2016. Some of these individuals where at least age 12. According to this report at least 1 in 10 people struggle some level of addiction to prescription drugs. These numbers clearly reveal that prescription drug usage is at epidemic proportions. The abuse of prescription drugs within modern American society would probably be out of control if it were not for FDA regulations and track and trace protocols.

Drug Supply Chain and Security Act (DSCSA)

The Drug Supply Chain and Security Act (DSCSA) was signed into law by former President Barack Obama back in 2013. This piece of legislation was designed to keep track of prescription drugs from the time they’re created up until the time they reach the consumer. The DSCSA was not necessarily written in response to the current prescription drug abuse epidemic.

The bill was created in response to contaminated drugs from a prescription drug incident that killed 76 people back in 2012. Now, this legislation is being used to deal with the current abuse of drugs today. According to the FDA, manufacturers, re-packagers and wholesale distributors must keep track of drugs along the supply chain. This tracking system allows authorities to keep track of drugs while stopping various criminal acts from occurring with these medications.

Practical Track and Trace Processes for the Pharmaceutical Industry

Serialization is a more formal name for the track and trace process that is used for the prescription drug supply chain. This procedure is primarily carried out by recording, capturing and maintaining information about medical narcotics as they make their way to the market. Manufactures will have to record information about the amount and type of drugs they release to re-packagers.

Prescription drug re-packagers will have to do the same thing before they release these drugs to shippers. This process continues all the way until it reaches retail pharmacy outlets. At this point pharmacies, doctors and authorized medical personnel will have to keep track of medical narcotics and the consumers who are using them. There are many great products, like rfXcel software, that can help the pharmaceutical business to keep track of meds.

The Pharmaceutical Market is Changing

The pharmaceutical drug market is changing, and it is harder for people to misuse and abuse prescriptions. While there are solid practices in place that keep criminals from exploiting the system, it still occurs. In closing, prescription drugs are to help people to overcome various conditions. These …

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Your Digital Signage Software Platform Must Be Durable

When you are working with a digital signage system, then you need to make sure that your software set up is correctly configured to be able to function effectively with your digital signage software provider. On the other hand, you ought to also be aware that you will also need a good understanding of the workflows and processes desired by the users. Indeed, your digital signage software platform must be durable, well adapted, and compliant with the requirements of your business.

Also, you should take into account any resource-related hazards which may cause issues while you are trying to implement your digital signage software platform. Furthermore, it should also be noted that you may need to perform individual resource monitoring for your digital signage software platform. Hence, you should be cognizant of the efficiency and the performance of the digital signage software platform that you have chosen to use for your business. Also, view this link for more data.

Some digital signage software platforms have a higher level of efficiency when compared to other solutions, and you should, therefore, make sure that whatever solution you have chosen for your business will be able to handle all the functional requirements that you have defined for your digital signage needs. On the other hand, it must also be said that there are many different digital signage players, so you need to make sure that you select the right one that will be able to satisfy all your needs.

Also, you should be aware that, based on the general constraints of the service and a case study, you ought to be able to define the most appropriate overall management methods for your digital signage software platform. It also makes sense that different digital signage software platform providers will cater to varying businesses with regards to the functionalities that they offer their clients. Consequently, you should be aware that you need to carefully look at all the different digital signage software platform providers to be able to select the digital signage software platform that is most appropriate for your business.

You should also frequently analyze your organization’s infrastructure to take into account and plan with regards to the constraints associated with each resource that you use for your digital signage software platform. Furthermore, it should also be noted that you should monitor and service the individual performance of your digital signage software platform resources. Also, you should be aware that risk analysis is a discipline that you may use to study all the different aspects of your digital signage software platform solution.

Additionally, you should give some thought to any alerts and critical remarks that may be raised during and before the implementation of your digital signage software platform project to bring it to a successful conclusion. On the other hand, it must also be said that for a significant digital signage software platform project, a manager can be appointed to assist you with each task in the overall implementation of your digital …

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Why People Often Participate in Mortgage Note Sales

It’s becoming a relatively common practice these days to engage in mortgage note sales. If you’ve heard others talking about it, there’s a good chance that you’re highly intrigued. People who own notes who make the decision to say goodbye to their investments can in many cases reap many diverse rewards. If you want to learn the ins and outs of mortgage note sales and associated topics, then you should check out the information that’s available through In-depth knowledge can help you figure out whether you actually want to go through with mortgage note sales.

Mortgage Note Sellers Can Handle Their Debts

If you want to do away with credit card debt, selling a mortgage note can help you get on the right track. It can help you do away with all different types of debt in general. This can be especially helpful to individuals who are irritated by debt that has racked up significant interest rates with the passing of time.

Mortgage Note Sellers Don’t Have to Think About the Possibility of Foreclosure

Foreclosure can be a frustrating and time-consuming procedure, to say the least. If you take the time to sell a mortgage note, you don’t have to concern yourself with the unpleasant possibility of foreclosure at a later time. Note foreclosure can require a lot of money, first and foremost. It can zap you of energy and tire you out as well.

Mortgage Note Sellers Can Get Their Hands on Instant Money

People who sell mortgage notes are able to get their hands on instant money. People inevitably come across tough circumstances that call for rapid cash. If you’re in the middle of a rut and feel like you have nowhere to turn for wherewithal, selling a mortgage note may be a logical and smart option for you to consider. Selling a mortgage note can help you cover tuition, a major move across the country and so on and so forth. If you’re interested in fast money but don’t want to have to deal with acquiring a loan, going to the mortgage note selling route can be incredibly wise.

Mortgage Note Sellers Can Forget All About Pesky Monthly Payment Requirements

Having to deal with payments on a monthly basis can be seriously stressful for many people. If you want to be able to easily forget all about the inconveniences that are associated with dealing with monthly payments, then you should enter the realm of mortgage note sales as soon as possible.

Mortgage Note Sellers Can Complete Significant Investments or Purchases

Getting your hands on actual cash can help you complete substantial investments or purchases as you desire. If you want to be able to do something big that involves a sum of money, selling a mortgage note can point you in a direction that makes sense. The positives of mortgage note sales are plentiful and varied as can be.…

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Best Deals on Term Plans

A term plan is a kind of pure life protection plan which remains valid only for a certain term or pre-decided time span.

Basically, there are two kinds of Life policies.

  1. Life Policy

The first type of life policy is a “whole” life policy. This means that the policy will remain in force for the whole life, without changing. In short, this policy will be in action as long as the person covered under the policy, is alive and as long as the premiums are being paid.

  1. Term Plan

The second type of policy is, “term”, policy. This means that the policy will remain in force for a term only, and no changes can be made for a specified period of time. For example, 5, 10 or 20 years, or till the covered person reached the decided age.

Well! Both the types are designed for different purposes and have their different pros and cons.

The policy term is designed to cover your life only for as long as you want the coverage or it is needed; for example, a credit life policy on a loan. If you finance a car and purchase credit life, it will cover the amount of the unpaid balance only for the term of the loan, because you won’t need it after you have paid it off.

Apart from this, there are some term policies that cover you only till a certain age. Also, you can avail policies that are “guaranteed renewable”. You will see that they are generally term policies that can be renewed at the end of the term but at whatever premium is in effect at that time, for whatever age you are at the time of renewal. Also, let us tell you that not all policies are renewable, so you’ll have to check it while getting a policy for you.

When it comes to the price, term policies are comparatively less expensive than buying a whole life policy, but again most of them expire even before the life being covered.

Yes, whole life policies are expensive, but depending on the age at which they are purchased, they usually seem more economical in the long run. As the premiums never go up, the benefit never goes down.

Importance Of Different Term Plans In Your Life

Given below are different term plans and their importance in your life:

  1. Level Term Plans

The level term plan is the most basic and simple form of term insurance. In this plan, the sum assured remains the same throughout the policy tenure and benefits will be paid to the nominee on the death of the life insured during the active policy term.

  1. TROP (Return of Premium) Plans

Unlike the above term insurance, this plan comes with a mutual benefit wherein the total premium paid will be returned to the life insured even if she/he survives the policy tenure.

  1. Increasing Term Plans

In increasing term plans, the policyholder can easily increase the sum assured on an annual basis during …

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Ease Your Winter Worries by Hiring the Best Snow Removal Contractor

Whether you are a homeowner or a business owner, everyone that lives in a northern area knows that once winter arrives, the snow will arrive as well. Due to this yearly annoyance, home and business owners have to make their decisions as to how they are going to deal with snow removal. For homeowners, this task is often simply taken on their own shoulder but for busy business owners, it is usually a responsibility that is preferable to contract out to a snow removal service. It is, of course, true that many homeowners also prefer hiring snow removal services. The fact is that in today’s busy world, whether you have a business to run or a job to get to, snow removal can represent an annoyance that many people simply prefer to have taken care of by the pros. People who live in areas where the snowfall is particularly heavy also often times get hit with snowstorms that produce an accumulation of snow that is difficult for a person to take care of themselves without professional snow removal equipment. With this in mind, here are some key tips to consider when you are looking for this year’s snow removal contractor. Be sure and also check out these great articles here for more on the topic.

Keep These Tips In Mind When Hiring A Snow Removal Contractor This Year:

Do Your Due Diligence As Far As Getting Recommendations – The first step to hiring the best available snow removal service is to get as many recommendations as you can so you can compile a list of potential companies to hire. You can get these recommendations by word of mouth and this is highly advisable. Never forget as well that the web is an indispensable source for finding great reviews on virtually any established company working in your area.

Make Sure To Get Multiple Quotes – Once you have put together your short list of potential snow removal contractors, it is time to get quotes. Make sure you get a minimum of three quotes so that you really get a good idea of where the best deal lies for your snow removal needs.

When Getting Estimates, Make Sure That The Contractor Sends Out Someone To Actually Look At Your

Property – When you are getting estimates from a snow removal service, you should insist that the potential companies send representatives out to actually view your property. This is the only way that they can give you an accurate estimate as to the costs of providing you with snow removal service.

Make Sure The Company You Hire Has All The Necessary Insurance – A final point is that you want to make sure your snow removal service is fully insured. This is more important than you might immediately think. Should any damage be caused to your property or anyone else’s as a result of your snow removal contractor, you are going to want to a company that is fully insured.

When …

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Why You Need Smart Locker Solutions

A smart locker solution is a mechanical lock designed to lock and unlock a system when it receives such instructions from the authorized individual. Often, a wireless protocol is applied. Apart from that, a smart locker solution monitors access followed by the sending of signal alerts to the owner of the property. In most cases, smart locker solutions are used in homes, parking lots, and public areas like shopping malls. This is why you should consider buying a smart locker;

  • Safety Enhancement 

A smart locker is safer than the traditional key locker. Given that most burglaries are forced, having a smart lock will always save you from such instances because you are the only authorized person to access.

  • Notifications 

With a smart locker, you should not worry about staying late at work. In case of an intruder at your home, you will receive instant notifications about it. That way, you can call the police and report a break-in.

  • Increased Convenience 

Many people would agree that it is pretty easy to lose a house keys. But that is not all. It is even easier to drop your car keys along the shopping aisle. A smart locker is just what the name suggests; smart- This eliminates the use of a physical key meaning that you cannot lose it.

  • Increased Connectivity

Incorporating a smart locker into your system of security enhances connectivity between your gadgets. If you want to protect your property, pair up the smart lockers with the following devices;


  • Video surveillance
  • Security alarms


  • Allows Temporary Access 

Smart lockers can allow you to have multiple user codes. Simply put, you can have temporary access and share it with guests in addition to servicemen. Later on, you can delete the code and create a new one for your use.

  • Enhancing Hospital Management Solutions

Smart lockers can be integrated into hospitals to ensure that assets are intact. They can also be used to secure sensitive keys. This enhances security as the keys will always be in the hands of the authorized personnel.

  • Enhancing School Management Solutions 

Smart lockers have intelligent key systems that provide an audit system. This allows the management of a particular school to monitor its items and know when something has been removed from its usual storage location. Coupled with the unique tagging technology, it is very easy to tell when an item is missing.

  • Promoting Auto –Dispensing Needs 

A smart locker can be set to cater for your auto – dispensing needs. For instance, if you are working in a pool as a manager, the device distribution might be set to allow the last device to recharge while the others handle the distribution.




Smart lockers provide a high level of security. They also offer effective ways to manage access followed by finding out the whereabouts of equipment. Coupled with the ability to enhance accountability, smart lockers will often cut down the impending damages in properties. With that said, the above benefits should encourage you to …

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