Very Low to Moderate Income Housing Loans

Very Low to Moderate Income Housing Loans The following is a summary of information about low to moderate income housing loans available to individuals or families through the U.S. Department of Agricultures Rural Development program as listed in the  Catalog of Federal Domestic Assistance  (CFDA). During the fiscal year 2015, a  total of $18.7 billion in loans were granted. The average direct loan granted was for $125,226 while the average guaranteed loan was for $136,360. Objectives To assist very low, low-income, and moderate-income households to obtain modest, decent, safe, and sanitary housing for use as a permanent residence in rural areas. Types of Assistance Direct Loans; Guaranteed/Insured Loans. Uses and Restrictions Direct and guaranteed loans may be used to buy, build, or improve the applicants permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Marianas, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent o f the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an effective interest rate as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RHS Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender. Eligibility Requirements Applicants must have very low-, low- or moderate incomes. Very low-income is defined as below 50 percent of the area median income (AMI), low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI). Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt. In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history. Beneficiary Eligibility Applicants must meet eligibility requirements. Guaranteed Loan Low and Moderate income eligible. Credentials/Documentation Applicants may need to submit evidence of inability to obtain credit elsewhere, verification of income, debts, and other information on the application; plans, specifications, and cost estimates. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles. Application Procedures This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. For direct loans, an application is made at the Rural Development field office serving the county where the dwelling is or will be located. For guaranteed loans, an application is made to a participating private lender. Award Procedure Rural Development field offices have authority to approve most Direct loan requests. Processing of guaranteed loans varies in each State. Consult your local telephone directory under U.S. Department of Agriculture for a Rural Development field office listing or visit the website http://offices.sc.egov.usda.gov/lcoator/app for a State Office listing. If no backlog exists, decisions on direct loan applications are made within 30 to 60 days. Requests for guarantee loans are acted upon in 3 days of receipt of the lenders request for guarantee. Range of Approval/Disapproval Time For direct loans, from 30 to 60 days subject to availability of funds, from the time the application is filed if no backlog of applications exists. A pre-qualification may be provided to potential direct loan applicants upon call or visit a Rural Development office, though results are not binding. For guarantees, a decision is required within 3 days of loan package submission by the approved lender. Information Contacts Regional or Local Office Consult your local telephone directory under United States Department of Agriculture for Rural Development field office number. If no listing, contact appropriate Rural Development State Office listed in Appendix IV of the Catalog or on the internet at rurdev.usda.gov/recd_map.html. Headquarters Office Director, Single Family Housing Direct Loan Division or Director Single Family Housing Guaranteed Loan Division, Rural Housing Service (RHS), Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474 (direct loans), (202) 720-1452 (guaranteed loans).

Energy Transfer in electrical circuits Research Paper

Energy Transfer in electrical circuits - Research Paper Example Home appliances and industries transform energy into other forms to a desired form. Electric circuits are utilized for these operations. Energy is not in the form of matter that can be saved. â€Å"Energy can neither be created nor it can be destroyed, it can be changed from one form to another form† (Moan & Smith, 2007). The phrase â€Å"source of energy† or â€Å"sources of energy† is a wrong phrase as energy is impossible to create. We can only alter it from one form to another form. Battery converts chemical energy to electrical energy. Battery does not generate energy. A power plant converts chemical energy of fuel to electrical energy. Fossil fuels had converted solar energy to chemical energy (Moan & Smith, 2007). An ideal energy conversion system is that that has no losses. One form or energy is converted to the other desired form without any losses. The efficacy of such a system is 100%. It means that the ratio of inputs and outputs equal 1. Practically it is impossible to have an ideal system. A practical energy conversion system does have some losses and thus the desired output is always less than the input. In power generation, internal combustion engine are only 40% efficient. 60% of the input energy is wasted as heat energy that is undesired. If a combined cyclic plant is utilized to convert energy, 80% efficiency can be achieved, as a carefully designed heat recovery system recovers most of the thermal energy that goes to waste. In the similar manner, an electric motor does not convert all the input energy to mechanical energy, some of the energy is dissipated as heat and bearing losses. An electric bulb wastes about 95% of energy, which is dissipated in the form of heat and converts only 5% of the energy to light energy (Bbc.co.uk, 2014). There is much difference in energy and power. Energy yields power. Electrical energy is the product of electrical power and time. If electrical energy is denoted

Chocolate Research Paper Example | Topics and Well Written Essays - 1750 words

Chocolate - Research Paper Example It played an essential role in the Aztec and Maya religious and royal events. Cocoa seeds in native America were used as an offering to deities, as well as serving chocolate drinks in sacred occasions. The American settlers from Europe fattened and sweetened it through the addition of milk and refined sugar, two ingredients that were not known to the Native Americans. In contrast, they did not infuse it into their diet, although, later, it was integrated into their desserts and sweets (Drowne & Patrick 27). It was in the 18th century that John Cadbury came up with the process of emulsification to create solid chocolate, which was the beginning of the modern chocolate bar. While cocoa was, originally from the Americas, West Africa, today, produces more than 65% of the cocoa in the world, half of which is planted in Cote divorce. The chocolate industry in the United States forms part of the largest food and beverage companies. They are in charge of the manufacture of cacao beans, the s ale of raw chocolate, and the manufacture of other chocolate related products (Allen 67). The chocolate industry has undergone numerous changes in both production and market trends over the years, which affect the industry in either a positive and negative manner. Production Based on the cocoa grinding reports released for cocoa traders, which was produced by the NCA in cooperation with the New York Board of trade, the grinding in the first quarter amounted to 119,022 metric tons - a decrease of 4.04 percent (5,006 mt) over 2011. The Unites States market on chocolate or candy stands in a shaky position. In North America, there has been a 2% decrease since quarter 3 in 2011 (124,621 metric tons) (Taylor & Akila 43). There is a rather decreased demand for chocolate in the market currently which means the producers need to correct where the problem lies. Cocoa, which originated in South America, was first planted in the US state of Hawaii by William Hillenbrand, a German physician, in 1850. While cocoa was long considered, as a crop to be grown in the plantations, the biggest challenge in the American market has been making money from it (Taylor & Akila 50). The plant is suited to the climate in Hawaii, although it is tricky to grow, requiring a lot of expertise in chocolate processing. Competition with low-cost producers in South America, Africa, and other countries is not easy because Hawaii has high costs of labor and land. However, Hawaii cocoa has been proven as a gourmet product for which a buyer can pay premium prices. Local cocoa farmers can also gain added value through the creation of farm tours around the popularly romanticized product (Taylor & Akila 50). Currently, dried cocoa seed sales, also referred to as cocoa beans, is estimated at a cost of $200,000 every year based on production per acre estimated for fifty acres, as well as a price of $2.47 dry bean price a pound (Taylor & Akila 52). Much higher sales can be derived by those planters who proc ess their product into chocolate at prices of approximately $40 a pound for retail. Industry growth, in the absence of expansion on a plantation scale, over the last few years, has been from small farms with a few of these farms having processing plants for their cocoa. Advances over the last ten years have increased the economic sense in the processing of chocolate from cocoa on a small scale sans specialized

GENDER AND JIM CROW Women and the Politics of White Supremacy in North Essay

GENDER AND JIM CROW Women and the Politics of White Supremacy in North Carolina, 18961920 - Essay Example The book revisits the history of oppression of blacks by white supremacy in the nineteenth century in the state of North Carolina and in the process makes many startling revelation hitherto either ignored or suppressed. Her theses is the emissarial role of contemporary African American women during 1896-1920 when their husbands, fathers ,brother and sons had been denied of surfage, in bringing out African American men and women to the main stream politics in North Carolina hitherto denied due to machinations of American white men. Gilmore reminisces as a young white North Carolinian girl her varied experiences and steps into the shoes of few African American women who had acted as ambassadors to their white male American counterparts by coming to the mainstream though not directly in politics but through academics, social organizations and other charitable institutions. The book which showed Gilmore as the historian in the making also was the precursor to her stream of further works on African Americans endless saga in the U.S. even today. It was by a chance discovery of discrete participation of African American women who were wives of the church leaders, or themselves teachers, college professors in finding a solution to overcome the supremacy of whites over blacks in North Carolina that prompted her to write this dissertation as conferred by her in the introduction pages of the book. I initially encountered this group of black middle-class women while investigating the 1920 election in North Carolina, the first in which women voted..That investigation of women's political culture soon doubled back on itself as I realized that gender and race were no less intertwined in men's politics than they were in women's.( Gilmore, 1996 p xvi) Kennedy in his review of the book says that Glenda Gilmore has re-examined the early period of Jim Crow and made known the to the world the efforts of middle-class African American women like Sarah Dudley Petty to bring about change in their social status by improving their standard of living, identifying opportunities for the both blacks and whites and most importantly changing the attitude of white toward the blacks in North Carolina. How the Women's Christian Temperance Union (WCTU) enabled the African American women of North Carolina to forge an interracial harmony and build strong communities is a case in point cited by him. The WCTU became a base for facilitating equality between whites and blacks in North Carolina. Thus when black men could finally vote, it was the white women who welcomed encouraged the activism of black women too. (Kennedy 2004) Judy(1997) whose grand father William J. Trent, finds a mention in Gilmore's book among so many others, writes how he must have felt having lost right to vote in 1900 in spite of going to college, learning languages like Latin. She is sure her grand mother Maggie Tate Trent must have also contributed a lot by joining the Salisbury Colored women's Civic League that toiled hard for getting African American women also secure voting rights. She agrees with Gilmore that down turn in the economy at that time that forced white men to compete with black men by bringing about repression of blacks and their disenfranchisement in 1900 and that it the was learned black women who became ambassadors of black community in North Carolina

Mangement of the arts Essay Example | Topics and Well Written Essays - 2000 words

Mangement of the arts - Essay Example Area, an Italian restaurant situated in Montpelier Street, Knightsbridge, London, is a good reference example. Area is owned by a man from south Italy called Franchisco. The business was started fourteen years ago as a small regular restaurant. It drew customers from the lower and middle socio-economic backgrounds. With time, people from good socio-economic backgrounds began to visit the restaurant. This included wealthy people and famous football players for example Chelsea’s Frank Lampard and Arsenal’s Sagna among other footballers. The new wealthy good pool of customers made Franchisco to think of a way to upgrade his low financial status. To achieve this, he increased the prices of food, beverages and drinks served at the restaurant by 50%-100%. This created the impression of quality. As a result of this, the restaurant attracted many richer customers mainly Arabic. According to Pinson and Jinnett (1996), entrepreneurs must track the needs and preferences of their customers so as to satisfy and retain them. It is from this perspective that Franchisco created an Arabian atmosphere in and outside the restaurant in order to maintain the large pool of Arabian customers. He made Arabian designs of various features in the restaurant and played Arabic music. Changing the atmosphere to Arabic made the business attract more Arabian customers. Sheesha is offered outside the restaurant until 11pm. This is an Arab custom in which flavored tobacco is smoked using shisha pipes. This created a good social atmosphere for lovers of sheesha. Customers express their love and appreciation for Area by pinning or placing different currency notes on its walls or on a board. Franchisco choose ‘Area’ as the name his business because it is a neutral term. This has allowed the business to attract people from all cultural backgrounds. Sheesha is strictly offered outside the restaurant. This is because smoking in all public

International Management Case Study Example | Topics and Well Written Essays - 1000 words

International Management - Case Study Example Some of the specific challenges associated with the apparel industry include child labor, poor working conditions, and the existence of sweetshops. Back in the late 1990’s Nike suffered a big blow to its reputation when the media found out the firm was doing business with companies that sponsored sweetshops. It is also important for companies doing business in foreign countries to help out the community in which they operate. Helping out the community will help the company gain the support of the local people and its governmental institutions. Discuss the meaning and implications of the statement by a Nike representative that â€Å"consumers are not rewarding us for investments in improved social performance in supply chains.† The statement made by the Nike representative implies that the media does not report the good actions of companies such as Nike. They prefer to run stories about companies that are not acting in a socially responsible manner than to publish storie s about the efforts of Nike which is a firm that is fighting to stop foreign suppliers from abusing the civil rights of its workers. The statement also implies that in many consumer marketplaces acting in an ethical manner does not provide a firm with a competitive advantage due to the presence of many companies that are acting in an irresponsible manner. ... Some of the most important stakeholder groups that the company must satisfy include customers, government, suppliers, lenders, community, and the environment. What is meant by â€Å"leadership beyond borders†? â€Å"Leadership beyond borders† means finding people who can see across borders created by others, such as the borders of their job, and reach across such borders to engage others in dialogue and action to address systemic problems. Such a leader is a person that is educated in the cultural matters of another country. Learning and adapting to a different culture is imperative towards the success of leaders in foreign countries. Corporations must provide training and development in cultural matters to all its supervisors and managers. Is it possible to have â€Å"a compatibility of profits with people and planet†? Whose responsibility is it to achieve that state? Companies can utilize a social responsibility strategy to enhance the profits of the enterprise . In today’s competitive global environment firm’s that have strong CSR programs can differentiate themselves from the competition. An example of a company that has increased its market share to become its industry leader utilizing sound CRS principles is Starbucks Cafe. Starbucks Cafe sources all its coffee utilizing fair trade coffee practices. Fair trade coffee practices guarantee a price of $1.26 per pound. It also provides farmers with technological transfers and financing assistance. Kelly’s Assignment in Japan Explain clashes in culture, customs, and expectation that occurred in this situation Kelly was given a new job assignment in Japan in order to land an

Mangement of the arts Essay Example | Topics and Well Written Essays - 2000 words

Mangement of the arts - Essay Example Area, an Italian restaurant situated in Montpelier Street, Knightsbridge, London, is a good reference example. Area is owned by a man from south Italy called Franchisco. The business was started fourteen years ago as a small regular restaurant. It drew customers from the lower and middle socio-economic backgrounds. With time, people from good socio-economic backgrounds began to visit the restaurant. This included wealthy people and famous football players for example Chelsea’s Frank Lampard and Arsenal’s Sagna among other footballers. The new wealthy good pool of customers made Franchisco to think of a way to upgrade his low financial status. To achieve this, he increased the prices of food, beverages and drinks served at the restaurant by 50%-100%. This created the impression of quality. As a result of this, the restaurant attracted many richer customers mainly Arabic. According to Pinson and Jinnett (1996), entrepreneurs must track the needs and preferences of their customers so as to satisfy and retain them. It is from this perspective that Franchisco created an Arabian atmosphere in and outside the restaurant in order to maintain the large pool of Arabian customers. He made Arabian designs of various features in the restaurant and played Arabic music. Changing the atmosphere to Arabic made the business attract more Arabian customers. Sheesha is offered outside the restaurant until 11pm. This is an Arab custom in which flavored tobacco is smoked using shisha pipes. This created a good social atmosphere for lovers of sheesha. Customers express their love and appreciation for Area by pinning or placing different currency notes on its walls or on a board. Franchisco choose ‘Area’ as the name his business because it is a neutral term. This has allowed the business to attract people from all cultural backgrounds. Sheesha is strictly offered outside the restaurant. This is because smoking in all public