5 Basic Types of Mortgages

If you are looking for a mortgage, then you will be surprised and overwhelmed by the main options available for you. If you would like to learn more, the Tembo Financial website is a helpful source for information. Here are the seven major types of home loans that are currently available.

1. Fixed-rate home loan

A fixed-rate loan is the most common type of home loan. With this loan, your interest rate is fixed for the life of the loan. Typically, the length of a fixed-rate loan is anywhere either 15 or 30 years in duration. Other lengths of fixed-rate home loans include 5, 10, 20 and 40-year terms. This type of loan is ideal for people who believe that they are getting the best available interest rate for the life of the loan.

2. Interest-only home loan

With an interest-only home loan, you have the option to only pay the interest on the home loan for the first five or 10 years. This is an ideal choice if you are looking to make the lowest possible initial payment on your loan. After the interest-only payment period expires, the loan converts back to a conventional fixed-rate loan. The one downside to an interest-only loan is that it takes time to pay down the principal loan amount.

3. Adjustable-rate mortgage (ARM)

An adjustable-rate home loan (ARM) is similar to the fixed-rate loan except for that interest rate on the loan can float over the life of the loan. This reflects the overall change in the economy and the rate of inflation. One of the most common ARM loans is known as the 5/1. With the 5/1 ARM, the interest rate remains the same for the first five years and then changes over the next 25 years. This is an ideal loan if you think that interest rates are going to be even lower over the next 25 years.

4. Jumbo loans

A jumbo loan refers to home loans that are so big that they exceed the normal scope of a conventional loan. In some cases, the lender may want to charge a higher interest rate on a jumbo loan. These loans are usually associated with the purchase of a high priced house. Those who tend to take out a jumbo loan usually put a significant amount of money down and have the income verification well in line to handle the monthly payments.

Find the right type of home loan will take some time. Carefully consider the pros and cons of each type of home loan. With the right research, you will find a home loan that will save your money and get you a great deal.

5 Examples Where 3D Printers Were Used In The Construction Industry

The use of 3D printer technology has revolutionized almost every industry. One of those industries is construction. As technology advances, 3D-printed devices have seen many real-world uses that prove their usefulness. Below are some of the top examples where 3D printers were successfully used during construction projects.

1. Pedestrian Bridge

In Amsterdam, a construction project went underway to create a 12 mm long pedestrian bridge made from steel. This 3D-printed bridge was drawn using robots and then created with the printer from layers of molten steel. A structural engineer for the company in charge of the project is conducting load tests that are proving to be positive.

2. First Printed House

In Europe, a family in France printed the world’s first 3D-printed home. The prototype is a four-bedroom house that is going to be used for bigger projects down the road. It took just 54 hours to print the entire home, but it took months for the contractors to finish adding in the doors, windows and the roof. The coordinators for the project claim that this way of building a home is around 20% less expensive than traditional-constructed houses.

3. Office Building

Two years ago, the first 3D-printed office was constructed in Dubai. It took 17 days and 18 workers to print and install the building. It was constructed using cement and other materials from different countries. The office was printed layer-by-layer and was affordable to complete. After printing, the exterior and interior design details were added to finish the project.

4. House Built In One Day

A construction company in Russia printed a single-story home in less than 24 hours using their mobile, three-dimensional printer. The printer created the partitions, self-bearing walls and the building envelope. Once the printing was completed, the printer was removed using a crane so that the rest of the design features could be added. This project was more complex because it was done during a Russian winter. The www.agile-manufacturing.com is a useful source for more information and insights.

5. First Habitable Home

While there have been many homes and offices created using 3D printer technology, Holland created the first concrete-printed home to be lived in. This home was created during a project called Milestone. The project was completed in collaboration with a Dutch construction firm and the University of Eindhoven. The project will also include five additional houses to be put on the market in the coming year. The homes will be printed with cement using the architect’s design and be done layer-by-layer.

These are just a handful of examples where 3D printers were used in the construction industry. As time goes by, this technology will be used more and more and should make building a home quicker, more affordable and efficient. Building projects could take weeks instead of months to complete.

Iceberg Sightings Database

The iceberg sightings database is a computer record of all the recorded iceberg sightings on the North Atlantic Ocean dating back to the late 1800s to the mid 1900s. The database is recorded in an array of Excel files. Each file contains hundreds of rows containing all the recorded iceberg sightings of a particular year. The files follow a similar format as the International ice Patrol and the PERD database with the addition of the Vessel Name column. The file format of the Excel files can be observed on Fig. 1 below.

References

AR Acadian Recorder, Halifax, NS, 1813

BA2 British American Navigator: A sailing directory for the Island and Banks of Newfoundland etc. 2nd Edition 1847

BC British Colonist,Halifax, NS, 1848

CBNews Cape Breton News, Sydney, NS, 1850

CH Colonial Herald, Charlottetown, PEI, 1838

CIS Canadian Ice Service, data set of Canadian Ice Distribution Survey on Index Cards available on Compact Disc

CSS Canadian Signal Service

DN Daily News, St. John’s, Nfld., 1894

Ex Examiner, Charlottetown, PEI, 1847

HB Hydrographic Bulletin, U.S. Hydrographic Office, Government Documents, Record Group 289, Sn.Docs.N6.2, U.S. National Archives at College Park, College Park, MD

HDR&T Halifax Evening Reporter and Daily Times, Halifax, NS, 1864

HER Halifax Evening Reporter, Halifax, NS, 1868

HG Hazards Gazette, Charlottetown, PEI, 1853

HH Halifax Herald, Halifax, NS, 1892

HR Rodman, H. Report of ice and ice movements in the North Atlantic Ocean. U.S. Hydrographic Office Publ. #93, 26p., 1890

IIP International Ice Patrol (Page or report numbers refer to the annual Bulletin for that year)

Fgmm Frank Galgay & Michael McCarthy. Shipwrecks of Newfoundland and Labrador, Vol 1. Harry Cuff, St. John’s, Nfld, 1987.

GR Robinson, George. A report on the movements of the ice, currents and tidal streams of the coast of Newfoundland and in the Gulf of St. Lawrence. Hydrographic Office, London, 1889.

GuGuardian, Charlottetown, PEI, 1890

JH J. Hennessy, Marine Observer, Vol. 9, 1932, pp 76-80

JH1 J. Hennessy, Marine Observer, Vol. 12, 1934, pp 71-73

LL Lloyd’s List, London, 1741

MC Morning Chronicle, Quebec, Quebec, 1847

MH Morning Herald, Halifax, NS, 1875

MPSG Morning Post and Shipping Gazette, St. John’s, Nfld., 1843

MWR Monthly Weather Review. United States War Office, 1872

Newf Newfoundlander. St. John’s, Nfld., 1827.

NS Nova Scotian, Halifax, NS, 1824

NSC Nova Scotia Chronicle and Weekly Advertiser, Halifax, NS, 1769

NSRG Nova Scotia Royal Gazette, Halifax. NS, 1800

NW Winsor, Naboth. Stalwart Men and Strong Ships. Economy Printing Ltd., Gander, Nfld., 1985.

NYMR New York Maritime Register, New York, 1869

NYT New York Times, New York, 1857

Pat Patriot, Charlottetown, PEI, 1867

PCNAO Pilot Chart of the North Atlantic, U.S. Hydrographic Office, Records of the Hydrographic Office, Record Group 37, U.S. National Archives at College Park, College Park, MD

PEI Prince Edward Islander, Charlottetown, PEI, 1842

PEIG Prince Edward Island Gazette, Charlottetown, PEI, 1814

PEIR Prince Edward Island Register, Charlottetown, PEI, 1823

PL Public Ledger and Newfoundland General Advertiser, St. John’s, Nfld., 1823.

PR Polar Record, Vol. 19, No 121, 1979, p 343-362. Shipping Losses caused by ice, 1890 – 1977.

QC Quebec Gazette, Quebec, Quebec, 1764

QM Quebec Mercury, Quebec, Quebec, 1805

RG Royal Gazette and Newfoundland Advertiser. St. John’s, Nfld., 1807

RG.C Royal Gazette, Charlottetown, PEI, 1791

RGM Royal Gazette & Miscellany, Charlottetown, PEI, 1791

RG12 National Archives of Canada, Record Group 42, Transport, Vol. 3000, File 8962-1 – 8962-2

RG42 National Archives of Canada, Record Group 42, Marine Branch, Series C-1, Vols. 371-372, File 22-4-0

RH Royal Herald, Charlottetown, PEI, 1805

SCL Shipping and Commercial List, New York, 1815

SR Ryan, Shannon. Seals and sealers: a pictorial history of the Newfoundland seal fishery. Breakwater Books, St. John’s, 1987.

TWS The Western Star, Curling (Corner Brook), Nfld. 1900

WBB Bailey, W.B., Lauzier, L.M. Incidence of Ice and Icebergs in the entrance to the Gulf of St. Lawrence and along the South Coast of NF. Manuscript Reports of the Biological Stations No. 614. Fisheries Research Board of Canada

WCR W.C. Redfield. Ice in the North Atlantic. Memoir of the dangers and ice of the North Atlantic Ocean. Dept. of Navy, p. 12-19, Washington, D.C., 1868

WR Weekly Recorder, Charlottetown, PEI, 1810

#548 Provincial Archives of Newfoundland and Labrador Manuscript Number MG548 R.M.S. “Nerissa”, Red Cross Line. Deck log of voyages, etc., St. John’s Newfoundland, Halifax Nova Scotia, and New York, January – August 1928.

#575 Provincial Archives of Newfoundland and Labrador Manuscript Number MG575, Allan Line. Logbook, sailing voyages between Scotland and Quebec, 1829 -1847.

#805 Provincial Archives of Newfoundland and Labrador Manuscript Number MG805 S.S. “Imogene”. Log book, sealing voyages, March 8 – June 9, 1930; March – April 24, 1931.

About Data

About the Iceberg Sightings Data

The iceberg sightings database is a computer record of all the recorded iceberg sightings on the North Atlantic Ocean dating back to the late 1800s to the mid 1900s. The database was created using Microsoft Excel and an .xls file was created for each year. The files have the same format as the International Ice Patrol records and the PERD database which are the current up to date records of iceberg sightings. The iceberg sightings database has added a field called “Vessel Name” which is considered to be important as it references who spotted the iceberg. Each excel file contains hundreds of rows and 38 columns which are explained below:

Data source Source of the data, always IOT.
Flag Used for indicating a point or a line for mapping the point. A 1 indicates a point; a 0 following a 1 indicates a line path, 1 being the first point and 0 the second point on the line.
IIP# Is a number used to identify the iceberg sighting of that year. It follows the International Ice Patrol format and the database compiler assigns it on years where the IIP had no records. The integer part of the number indicates the number of sighting. The first decimal place is given for each different iceberg on the same sighting, for example if a large and small icebergs are seen on the same location a 24.1 is given to the large iceberg and the 24.2 is given to the small iceberg in case it was the 24th iceberg sighting of he month. A second decimal place is given if the icebergs where spotted along a path, for example a growler and a medium iceberg are seen along a path between two coordinate points, 25.11 is assigned for the growler for the 1st coordinate point and a 25.12 is given for the second coordinate point closing the path, then a 25.21 and a 25.22 are given the same way but for the medium iceberg.
Iceberg # Same as the IIP# but if there is a resight the number is repeated.
Resight Y for yes if an iceberg is resighted and N for no.
Sighting source Type of source where the iceberg was sighted, “Miscellaneous” usually refers to a place on land such as a lighthouse.
Vessel Name Name of ship, aircraft or place where the iceberg was spotted.
Sighting method Method by which the iceberg was identified, usually visual sighting.
Latitude Latitude North of the equator
Longitude Longitude West of Greenwich
Ice Season Year of the ice season, usually same as the year
Year Year of the iceberg sighting
Month Month when the iceberg was sighted
Date Actual date of iceberg sighting
Time Time of day when the iceberg was sighted, not usually given.
Size Size of the iceberg according to the IIP iceberg sizes. See About Icebergs on the menu for more information. If the size of the iceberg was not specified the word “Berg” is used.
#bergs Number of icebergs sighted with no specified size
#growlers Number of growler size icebergs seen. “x” is used for not specified number of growlers.
#Bergy Bits Number of Bergy Bits size icebergs seen. “x” is used for not specified number of Bergy Bits.
Small Number of Small size icebergs seen. “x” is used for not specified number of Small icebergs.
Medium Number of Medium size icebergs seen. “x” is used for not specified number of Medium icebergs.
Large Number of Large size icebergs seen. “x” is used for not specified number of Large icebergs.
Very Large Number of Very Large size icebergs seen. “x” is used for not specified number of Very Large icebergs.
Ice Island Number of Ice Island size icebergs seen. “x” is used for not specified number of Ice Island iceberg.
Unidentified Not relevant.
Shape Name of the iceberg shape if specified. For more information on iceberg shapes see About Icebergs on the menu.
Length Length of the iceberg if given in meters
Length Flag E for estimated length and M for measured length.
Height Height of the iceberg if given in meters
Height Flag E for estimated height and M for measured height.
Width Width of the iceberg if given in meters
Width Flag E for estimated width and M for measured width.
Draft Draft of iceberg if given in meters
Draft flag E for estimated draft and M for measured draft.
Mass Mass of iceberg if given in tons
Mass flag E for estimated mass and M for measured mass.
Drill site Not relevant.
Comments Refer where the iceberg sighting data was taken from and if there was any other information given and should be mentioned.