Why Play A Yamaha Electric Guitar?

Although Yamaha has only been producing Yamaha electric guitars since 1966, they have more than 100 years of experience in creating musical instruments. Have you ever wondered why the Yamaha logo on your motorcycle is 3 tuning forks? Now you know!   Today, when it comes to buying Yamaha electric guitar there are wide array to select from including complete kits which contain a practice amplifier, guitar cable, padded gig bag, 2 single coil pickups and hum bucking pickup, a tremolo bar, and a 5 positioning pickup switch.

In fact, many of the world’s accomplished guitarists would have first used one of Yamaha’s electric guitar kits and one of the most popular being the EG-112PF.  As well as being suitable for those who are only just starting to play an electric guitar it can meet their needs as their skills improve. 

Yamaha also makes Yamaha acoustic guitars such as Folk Guitar, Classical Guitar, Handcrafted Guitar, Parlor Guitar, and Jumbo Country Guitar.

For over a decade, the Yamaha PAC012 Pacifica electric guitar has been one of the best values in electric guitars. It provides a quality workmanship and outstanding playability at an unbelievable price. Yamaha is now putting the same value into the popular GigMaker series with the GigMaker Electric. With an impressive 15-watt amp, protective gig bag, and a wide assortment of outstanding accessories, the GigMaker Electric is the ultimate electric guitar package. Includes: Guitar, Amp, Gig Bag, Qwik Tune Digital Chromatic Tuner, Cable, Instructional DVD, Guitar Strap, Extra Strings, & Picks!

Another guitar that is also proving popular is the Yamaha SLG100 Silent Guitar from Yamaha that is perfect if you live in close proximity to others.  This allows you to connect a set of headphones to it and as you practice you will feel as if you are playing in a concert hall, yet no one else can hear what is happening.  Plus you still have the capability to connect it up to a sound system when you want to play your Yamaha electric guitar in public.

The Yamaha electric guitars are very easy to recognize, as the neck of the instrument is set deep into the body of the guitar rather than being bolted on to it.  Also they have a patented “T cross system” and “sustain plate” which no other electric guitar has and which provides a powerful but warm tone to the sound they make.

Should You Refinance Your Mortgage Now?

Many homeowners are considering taking advantage of today’s historically low interest rates by refinancing their mortgage. In many cases, they are able to save hundreds of dollars per month by refinancing. Whether mortgage refinancing makes sense for you can be easily determined by doing some simple math.

The first consideration is how much lower your new interest rate should be than your current rate. There is a common belief that if current rates are more than 1.5 to 2 percentage points lower than your current rate, then you should refinance. That’s a good starting point, but there is more to the story than just the raw interest rate.

Your real concern should be the total cost of the mortgage refinance both in the short term and the long term. The total cost includes not only the monthly mortgage payment (principal plus interest), but the closing costs, as well. Closing costs typically include such things as:

• Appraisal fee
• Credit Report fee
• Processing fee
• Commitment fee
• Tax Service fee
• Flood Certification fee
• Discount points (if any)
• Title Insurance (based on mortgage amount)
• Recording/Notary fee
• Per diem Interest
• Real Estate Taxes
• Home Insurance (percentage of mortgage amount)

Adding all these up can easily run into several thousand dollars, even without discount points. This is money that must be paid at the loan closing. In the case of a mortgage refinancing, lenders often advertise “no closing costs”, which is a bit misleading. The truth is that there ARE closing costs, but they are paid out of the proceeds of the loan rather than the pocket of the homeowner. This is possible when the homeowner borrows against the equity in their home as part of the refinancing.

As an example, let’s say that your home is worth $175,000. Your original mortgage was for $125,000 over 30 years at 7% interest. You still owe $100,000 on the original mortgage. The closing costs for your refinance are $3,000. If you simply refinance the $100,000 amount at a lower interest rate you will reduce your monthly payments, but you will have to pay the $3,000 closing costs out of your own pocket. If you choose the “no closing costs” option, your $3,000 closing costs will be paid by simply borrowing the additional money against the equity in your home (i.e. the value of your home less the amount owed). Your mortgage will now be for $103,000 instead of $100,000.

So, what about that widely held 2 percentage points belief we mentioned earlier? The monthly payment for a 30-year $125,000 mortgage at 7% interest is $831.63. For your new 30-year $100,000 loan at 5% interest, the monthly payment is $536.82, a savings of almost $300 per month. If the new mortgage is $103,000, the monthly payment is $552.93, still saving you over $275 per month. In this scenario, considering only the monthly savings, you would recoup your closing costs in as little as 10 months.

Sounds great, right? Well, there’s another factor you need to consider. If your original mortgage was $125,000, you’ve been paying on it for 152 months to get the principal balance down to $100,000. Therefore, you have 208 months left before the mortgage is paid off under the original terms. If you continue without refinancing, you’ll pay an additional $172,978 (208 months at $831.63 per month).

If you refinance your mortgage for the $100,000 you currently owe, you’ll pay on it for 360 months at $536.82 plus the $3,000 closing costs for a total of $196,255.

$172,978 <-- payout without refinancing

-196,255 <-- payout after refinancing

-$23,277 <-- difference

In this case, by refinancing you will end up paying an additional $23,277 for the new loan over the original mortgage. This works out to about $775 per year, which may be acceptable to you in order to have the lower monthly payment now. You are the only one who can make that decision based on your personal financial situation. The important thing when refinancing your mortgage is to consider all the ramifications.

This is another of today’s money secrets that can help you get the most for your money in today’s lending market!