Loan

Credit News

Loan Consolidation for Graduate Students ~ #new #car #loan


#consolidating student loans
#

Graduate Student Loan Consolidation

Most college students will require some form of education loans to help them meet their college costs. Undergraduate and graduate students alike, find themselves faced with mounting debt as they work toward their ultimate degree. Graduate students in particular incur a large amount of student loan debt before finishing their studies and entering the professional marketplace. However, there is a way to mitigate some of that student loan burden. Graduate and professional degree seeking students should consider the benefits of loan consolidation. By consolidating your graduate student loans, you can reduce their monthly payments, more easily manage your student debt and find your way out of the student loan maze.

What Is Graduate Student Loan Consolidation?

Graduate student loan consolidation helps students manage their debt by combining all outstanding education loans in to a single, more manageable loan package. When you consolidate your student loans, your new lender will pay off all of your outstanding debt, leaving you responsible for one loan from one lending institution. You will no longer be accruing interest on multiple loans, and will now have only one monthly payment to make. For a student fresh out of graduate school, just entering the workforce, this can be a great financial relief.

How Will I Benefit From Graduate Student Loan Consolidation?

Graduate student loan consolidation is an excellent way to manage your student debt. Making several loan payments a month can be difficult, both financially and personally. Multiple loans are more expensive in the long run, and the more bills you have to keep track of the more likely you will be to miss a payment. A consolidation loan can be the answer to your student debt woes.

When taking out a consolidation loan, you engage a new lender who agrees to pay off all of your outstanding student debt. The lender will then write out a new loan for you, covering all of the previous debt, leaving you with a single loan to manage. Payments are easier to maintain, and often you can secure your consolidation loan at a more attractive interest rate which will save you money over the life of the loan. Consolidating your graduate student loans can also provide a much needed boost to your credit score. Your previous student loans will be retired as paid in full, and you will reap the benefits of a solid credit history making future financial transactions much easier.

How Can I Apply for Graduate Student Loan Consolidation?

Graduate students can apply for consolidation loans through on of the major student loan organizations such as Sallie Mae or Nelnet. Consolidation loans are also available through private banks and credit unions, though students should keep in mine that the interest rates and payment plans through a private lender may not be as flexible as those available from a dedicated student loan organization. Applying for a consolidation loan is easy, and most lenders offer the convenience of an online application process.

Many students, both undergraduate and graduate, choose loan consolidation as a way to more easily and efficiently manage their student loans. It can be difficult to face a mountain of debt just as you’re entering the job market, but graduate students who consolidate their education loans can rest assured that their student debt is under control, and that they have made the right decision for their financial future.



Government Student Loan Programs ~ #payday #loan #lenders #uk


#government loans
#

First Step: Government Student Loans

Your Number One Student Loan Choice

Low cost student loans are the number one source of financial aid for college bound individuals. There are two types of student loans to consider. The Federal student loan and the private lender student loan. Both have their advantages but savvy students will turn to the Federal student loan first. With easier qualification standards and lower fixed interest rates Federal loans make a college education more accessible to students from all walks of life.

Go Federal First

Most college bound students will need to rely on some form of student loan program. An education isn’t cheap and like it or not you will likely have to take out a loan to pay at least some of your costs. Government student loans offer the lowest interest rates and the most accommodating repayment plans. The Federal government guarantees these loans and most do not require a minimum credit score for eligibility.

Depending upon your college of choice you may be able to secure your student loan through the Federal Direct Student Loan Program. This program provides loans to eligible students with the only lender being the U.S. Department of Education. These low interest loans are designed to create a pathway to higher education for students who may be struggling to find the money to go to college.

Types of Government Student Loans

There are three types of Federal student loans to consider. The Stafford Loan, the Direct PLUS Loan for Parents and the Perkins Loan. Graduating students can also take advantage of a Federal Consolidation Loan to combine all of their college loans into one manageable loan package.

Federal Stafford Loan

The Federal Direct Stafford Loan comes in two varieties – subsidized and unsubsidized. The subsidized Stafford Loan is reserved for students with the most need and the interest that accrues is paid by the federal government for as long as the student remains enrolled in an accredited university or college. The unsubsidized Stafford Loan is available to almost every student who applies, however you are responsible for payment of monthly interest while in school though the principle is deferred until graduation.

Federal Direct PLUS Loan for Parents

The Federal Direct PLUS Loan for Parents is a credit-based alternative loan program specifically designed to provide low cost loans to parents of dependent college bound students. Parents can secure a loan up to the value of the cost of their student’s attendance less any other financial aid their child has been awarded. Repayment of the PLUS Loan begins as soon as the loan is fully disbursed and students must sign a promissory note guaranteeing repayment if the parent or guardian defaults at any time.

Federal Perkins Loan

The Federal Perkins Loan Program offers low interest loans to students who show exceptional financial need. Students enrolled in one of the 1700 participating colleges and universities can secure a low interest loan through that institution to help pay the costs of their education. The Federal government supplies funds to campuses annually, and the campuses in turn award loans to eligible students on a first-come – first served basis. For this reason students are advised to apply to their college of choice early.

Federal Direct Consolidation Loan Program

A standard component of the Federal loan program is the Direct Consolidation Loan. Student graduates with one or more Federal student loans may opt to combine all of them into one loan. This allows the student to reduce his loan payments to one more manageable monthly payment.

Applying for Government Student Loans

Before applying for any government loan you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is required for all forms of Federal aid programs. Whether you are applying for a Federal loan, grant or scholarship the FAFSA is your first step and must be submitted early to meet any deadlines for your loan or grant applications.



US Government Federal Student Loan Programs ~ #monthly #mortgage #calculator


#low cost loans
#

Applying and Qualifying for the Federal Perkins Loans

Low-Cost Campus-Based Financial Aid

For the college bound student looking for financial aid, qualifying for a grant is ideal. But, not all grants will cover the entirety of your tuition costs. When you factor in book costs, dorm fees and the cost of living in general most grants fall short of the mark when it comes to paying all of your college expenses. That’s why student loans play such a major role in financing a college education.

Federal students loans, with their fixed low interest rates and flexible repayment plans, offer the most attractive solution. The Federal Perkins Loan Program should be a key component in any student’s college financial plan. The Perkins loan offers many benefits and features that make it an excellent source of financial aid for eligible students.

Features of a Perkins Loan:

  • Low-interest, fixed rate loans
  • Need-based
  • Available through participating colleges and universities
  • Optional loan cancellation for eligible borrowers
  • Available to eligible undergraduate and graduate students
  • 9-Month grace period
  • No application fees
  • No credit checks

What is a Federal Perkins Loan?

The Federal Perkins Loan is a campus-based financial aid package that is available to both undergraduate and graduate students. Participating colleges and universities receive annual loan allowances from the U.S. Department of Education, and it is from theses funds that the school makes Perkins Loans available to eligible students. These loans are limited number and eligible students are advised to apply early. Perkins loans are free of any application or other hidden fees and offer a 9 month grace period following graduation before repayment must begin.

Perkins Loan recipients borrow directly from the college campus of their choice. These are subsidized loans, meaning the government pays the interest that accrues on the loan for as long as a students remains in school as well as the 9 month grace period. Under graduate students are limited to loans of $4,000 per year, with a lifetime limit of $20,000. Graduate students are allowed an increased limit of $6,000 per annum, with a $40,000 lifetime limit.

While many students qualify for the Federal Perkins Loan, not all colleges and universities participate in the program. Check with your college of choice to learn if they are one of the approximately 1700 colleges and universities that do participate in the program. With it’s fixed low interest rates, Federal subsidization and flexible repayment terms the Perkins Loan is the most borrower friendly student loan available.

Qualifications for a Perkins Loan

The chief determining factor of a student’s eligibility for the Perkins Loan program is financial need. A student must fall within a certain income bracket and the student’s Expected Family Contribution or EFC must be rated low on the Federal scale. Other application requirements include:

  • Student must be enrolled in an accredited school at least half-time.
  • Student must be enrolled in a college or institution that participates in the program.
  • Student must be a U.S. citizen, a legal permanent resident or an eligible non-citizen.
  • Student must no history of defaulting on prior student loans.
  • Student must be registered with the Selective Service where applicable.
  • Student must meet minimum GPA.

Applying for a Perkins Loan

All Federal financial aid programs require students to fill out and submit the Free Application for Federal Student Aid or FAFSA. Once you have submitted your FAFSA and it has been reviewed, you will receive your Student Aid Report which details the amount of your Expected Family Contribution (EFC). This is the amount of money you or your family are responsible for contributing to your education.

Within a few weeks, you should receive follow up letters from the colleges to which you have applied detailing any and all types of financial aid for which you have qualified, including the Perkins Loan. This letter must be returned to the college or university indicating what financial aid you are accepting. If you are approved for a Perkins Loan you must coordinate with your school immediately to secure the loan and receive your financial aid money. Loan funds are limited and the earlier you respond the better your chances of getting the loan you need.

Repayment of the Perkins Loan

During the final weeks of your college term your school will contact you and provide loan repayment details relative to your Perkins Loan. You will have the benefit of a 9 month grace period in which to become settled and find a job before any repayment schedule begins. This grace period is one of the major bonuses of the Federal Perkins Loan program, allowing students some time to enter the workforce before any loan payments must be made.

Loan Cancellation for Teachers

A significant benefit of the Federal Perkins Loan program is the Cancellation or Deferment Option for Teachers. Students who agree to take up full time teaching positions in low-income public school districts, or take positions teaching in certain subject areas may be eligible for cancellation or deferment of all or part of your Perkins loan. Check with your college for more information regarding any deferment or loan forgiveness programs for which you may be eligible.



Short Term Unemployment Cash Advance Loans ~ Loans For People On SSI #subsidized #student #loans


#unemployment loans
#

Short Term Unemployment Cash Advance Loans

It is not a pleasant feeling for sure when you are jobless and bogged with financial worries. If you currently need a cash loan with no job, your pride takes a beating when you keep getting denied by bank officers. Instead of asking from friends or your family members, you can consider a temporary unemployment cash loan. Online approval lenders are available for people who are not employed and have no credit history, and find it almost impossible to get a $900 private cash loan anywhere else.

Unemployment urgent lenders are increasing popular as people are made more aware of their existence, where they can get a no-job cash loan despite having no stable employment. From getting a urgent cash loan for 6 month to tide you out, or to use them as emergency cash for unexpected expenses, these unemployment cash loans are valued as they bring relief for many people who need cash urgently.

You can apply for a short term cash advance loan from non-bank loan companies and there are several online companies that provide these emergency high risk loans for people who have no full time work. The process is simple, with no tedious paperwork or drawn out processing time. You can get instant decision on your online application with no faxing required.

Shorter cash loan companies do not make lending decisions based on just your credit history alone so even if you have 700 credit score, it will not disqualify you from getting one hour approval for a online 900 dollars loan. Some accredited loan lenders may require a guarantor if you are asking for a 6 month urgent loan that is above $900 dollars, but even if that is the case, you would likely be paying cheap interest costs when you have a co-signer.

Repayments terms vary among BBB listed lenders as well. Most unemployment cash advance companies will cap a limit of 180 day on unsecured loans for people without income but if you are lucky, you may come across direct loan companies that are more receptive to giving you an easy approved loan for 6 months. Therefore, finding the best cost installment lending firm for the unemployed that meets your financing needs is important. Interest fees aside, it is good to pick a reputable company with friendly payments guidelines.

To sum up, if you are going to borrow 900 dollar for covering expenses while looking for a new job, an easy approval 6 month loan lender can assist you with your financial needs. Just remember to use them on real necessities and not for frivolous purchases.



Online Student Loan Consolidation ~ #grad #school #loans


#consolidation loans
#

Consolidate Your Student Loans

Save Money, Avoid Default

Consolidating student loans can help make what feels like a mountain of college debt much more manageable. The National Postsecondary Student Aid Survey reports that a majority of four year college graduates are carrying close to $20,000 in student loan debt. Graduate students, medical students and law students are carrying much more.

Consolidation loans have become common practice for both Federal and private student loan holders. A consolidation loan does more than just combine your existing loans. With a consolidation loan your existing lender or a new lender will pay off you’re student loans and write a new loan to cover that total. This new loan will allow you to have one manageable monthly payment.

Time to Consider Consolidation

How do you know when it’s time to talk to your lender about loan consolidation? If you find yourself in any of the following situations a consolidation loan might be for you:

  • You have multiple federal and/or private student loans
  • You have been delinquent on any monthly student loan payments
  • You foresee large financial obligations that could put your monthly payments at risk.

Student loan consolidation offers students and graduates the opportunity to more successfully manage their debt obligations. With a consolidated loan you can relive the stress of having a mountain of debt on your shoulders. Lenders have a stake in your financial health and they would rather rewrite your loans than see you default.

Federal Loan Consolidation

The Federal government offers students the Direct Consolidation Loan to help them manage their Federal college loans. Students who have received a Stafford. Perkins or FFEL loan are eligible for the Federal Direct Consolidation Loan only after they have graduated from college. These loans allow students to combine existing loans into one manageable loan with a single payment schedule. Benefits of federal loan consolidation include:

  • Interest rates are fixed
  • Monthly payments are made more manageable
  • Repayment period can be extended from 10 to 30 months
  • Protects your credit rating
  • Private Student Loan Consolidation

Students who have private lender loans can also take advantage of loan consolidation programs. Many private lenders offer attractive loan packages to make it easier for students to pay off their loans and avoid default. As these loans are underwritten by private lenders they will have higher interest rates and stricter time limits than Federal loans. Having said that, they are still a good way to reduce your monthly obligations to one manageable payments.

Private lenders approve all loans on the basis of credit history and consolidation loans are no different. You may need a co-signor to qualify for a consolidation loan and you will have to be able to prove a regular income that meets the lenders requirements.

Keep in mind that if you have received both private lender loans and Federal student loans you will not be able to consolidate both into one new loan. You will have to negotiate one consolidation loan for your private lender loans and one for your Federal loans.

Applying for Student Loan Consolidation

The application process for student loan consolidation will depend on what type of loans need to consolidate.

  • If you have Federal Direct Loans you can apply for a Direct Consolidation Loan through the U.S. Department of Education.
  • Students who are carrying Federal Family Education Loans (FFEL) can apply to their primary lender for the FFEL Consolidation Loan program.
  • Private student loans must be consolidation through the original lender or through another private lender who is prepared to underwrite your consolidation loan. Remember, private consolidation loans are credit-based and there is no guarantee that all students carrying student debt will qualify.

Consolidation programs can make all the difference to a graduate struggling to repay their student loans. If, after graduation, you find you are having difficulty making your monthly payments or are facing a shortage of finances for the immediate future a student loan consolidation program can help you avoid default and keep your credit history on the right track.



FHA Loan Calculator ~ FHA Mortgage Rates, Limits & Qualification Information #quick #and #easy #loans


#fha loan qualifications
#

FHA Maximum Financing Calculator

Calculating the Max Amount for an FHA Backed Loan

The U.S. Department of Housing and Urban Development (HUD) has been has been helping first-time homebuyers get loans backed by the Federal Housing Administration (FHA) since 1934. Traditional lenders such as banks issue the loans, but they are insured by the FHA, reducing the risk to the lender and allowing the lender to provide better terms.

FHA loans require low down payments typically only 3.5 percent and low closing costs, many of which can be included in the loan. The FHA also offers loans that allow you to purchase a home in need of repairs and to roll the cost of the fixes into the primary mortgage loan. Other loans are available for seniors, for those looking to make energy improvements to their home, and for those who want to buy manufactured or mobile homes.

Another part of what makes FHA loans so attractive to first-time homebuyers is that they have easy credit qualifying. If you don’t have a perfect credit score, but you have a good history of paying your bills on time, you will likely qualify for an FHA loan.

FHA Loan Limits

The FHA sets caps on what you can borrow based on where you live or where you intend to purchase a home. These loan limits are based on the average price of a home in your area and on the type of home it is, including single family, duplex, triplex and four-plex.

For example, the limit for a single-family home in Alamance County in North Carolina is $271,050, while the limit for a duplex in the same county is $347,000.

Loan limits vary significantly depending on where you intend to purchase a home. For example, the loan limit for a single-family home in New York County in New York is $729,750.

To see the loan limits where you intend to purchase, check out this HUD page .

Other Requirements

Loan limits are just a starting point for determining how much you can borrow with an FHA loan. As with other home loans, FHA loans require lenders to meet guideline for housing expense ratios and debt-to-income ratios.

Traditional mortgages require that your total monthly mortgage payment not exceed 28 percent of your monthly gross income, and that your total monthly debt payments including your mortgage, car loan, student loans and other obligations not exceed 31 percent of your gross monthly income. However, the FHA increases these limits, allowing you to have a 31 percent housing expense ratio and a 43 percent total debt-to-income ratio. You can find these ratios by dividing your monthly mortgage payment by your monthly income, or by totaling up your monthly debt payments and dividing them by your monthly income.

FHA loans also require that you carry mortgage insurance, which is included in your monthly mortgage payment. The more expensive the home you buy, the more expensive the mortgage insurance will be.

Like other loans, you are also required to carry homeowner’s insurance, which includes paying the premium at closing, and to pay your property taxes in escrow.

FHA Loan Calculation

Though FHA loans offer some flexibility for first-time homebuyers to help them afford a new home, it can be confusing trying to figure out just how much you can borrow under an FHA loan because of al the criteria involved with the loan.

The FHA maximum financing calculator at MortgageCalculator.org makes it easy for you to understand jus how much you can borrow. Enter in all the variables, including the sales price of the home you wish to buy, the appraised value of the home, borrower-paid closing costs, prepaid expenses, discount points, any repairs or improvements you wish to make and include in the cost of the loan, and your mortgage insurance premium. We’ll send you fast results including the cash required at closing and how much you are able to purchase.

Just enter your e-mail and have your results delivered in moments, including a plain-English explanation with everything you need to know about your borrowing options.



Government Student Loan Programs ~ #usda #home #loans


#government loans
#

First Step: Government Student Loans

Your Number One Student Loan Choice

Low cost student loans are the number one source of financial aid for college bound individuals. There are two types of student loans to consider. The Federal student loan and the private lender student loan. Both have their advantages but savvy students will turn to the Federal student loan first. With easier qualification standards and lower fixed interest rates Federal loans make a college education more accessible to students from all walks of life.

Go Federal First

Most college bound students will need to rely on some form of student loan program. An education isn’t cheap and like it or not you will likely have to take out a loan to pay at least some of your costs. Government student loans offer the lowest interest rates and the most accommodating repayment plans. The Federal government guarantees these loans and most do not require a minimum credit score for eligibility.

Depending upon your college of choice you may be able to secure your student loan through the Federal Direct Student Loan Program. This program provides loans to eligible students with the only lender being the U.S. Department of Education. These low interest loans are designed to create a pathway to higher education for students who may be struggling to find the money to go to college.

Types of Government Student Loans

There are three types of Federal student loans to consider. The Stafford Loan, the Direct PLUS Loan for Parents and the Perkins Loan. Graduating students can also take advantage of a Federal Consolidation Loan to combine all of their college loans into one manageable loan package.

Federal Stafford Loan

The Federal Direct Stafford Loan comes in two varieties – subsidized and unsubsidized. The subsidized Stafford Loan is reserved for students with the most need and the interest that accrues is paid by the federal government for as long as the student remains enrolled in an accredited university or college. The unsubsidized Stafford Loan is available to almost every student who applies, however you are responsible for payment of monthly interest while in school though the principle is deferred until graduation.

Federal Direct PLUS Loan for Parents

The Federal Direct PLUS Loan for Parents is a credit-based alternative loan program specifically designed to provide low cost loans to parents of dependent college bound students. Parents can secure a loan up to the value of the cost of their student’s attendance less any other financial aid their child has been awarded. Repayment of the PLUS Loan begins as soon as the loan is fully disbursed and students must sign a promissory note guaranteeing repayment if the parent or guardian defaults at any time.

Federal Perkins Loan

The Federal Perkins Loan Program offers low interest loans to students who show exceptional financial need. Students enrolled in one of the 1700 participating colleges and universities can secure a low interest loan through that institution to help pay the costs of their education. The Federal government supplies funds to campuses annually, and the campuses in turn award loans to eligible students on a first-come – first served basis. For this reason students are advised to apply to their college of choice early.

Federal Direct Consolidation Loan Program

A standard component of the Federal loan program is the Direct Consolidation Loan. Student graduates with one or more Federal student loans may opt to combine all of them into one loan. This allows the student to reduce his loan payments to one more manageable monthly payment.

Applying for Government Student Loans

Before applying for any government loan you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is required for all forms of Federal aid programs. Whether you are applying for a Federal loan, grant or scholarship the FAFSA is your first step and must be submitted early to meet any deadlines for your loan or grant applications.



Short Term Unemployment Cash Advance Loans ~ Loans For People On SSI #home #improvement #loans


#unemployment loans
#

Short Term Unemployment Cash Advance Loans

It is not a pleasant feeling for sure when you are jobless and bogged with financial worries. If you currently need a cash loan with no job, your pride takes a beating when you keep getting denied by bank officers. Instead of asking from friends or your family members, you can consider a temporary unemployment cash loan. Online approval lenders are available for people who are not employed and have no credit history, and find it almost impossible to get a $900 private cash loan anywhere else.

Unemployment urgent lenders are increasing popular as people are made more aware of their existence, where they can get a no-job cash loan despite having no stable employment. From getting a urgent cash loan for 6 month to tide you out, or to use them as emergency cash for unexpected expenses, these unemployment cash loans are valued as they bring relief for many people who need cash urgently.

You can apply for a short term cash advance loan from non-bank loan companies and there are several online companies that provide these emergency high risk loans for people who have no full time work. The process is simple, with no tedious paperwork or drawn out processing time. You can get instant decision on your online application with no faxing required.

Shorter cash loan companies do not make lending decisions based on just your credit history alone so even if you have 700 credit score, it will not disqualify you from getting one hour approval for a online 900 dollars loan. Some accredited loan lenders may require a guarantor if you are asking for a 6 month urgent loan that is above $900 dollars, but even if that is the case, you would likely be paying cheap interest costs when you have a co-signer.

Repayments terms vary among BBB listed lenders as well. Most unemployment cash advance companies will cap a limit of 180 day on unsecured loans for people without income but if you are lucky, you may come across direct loan companies that are more receptive to giving you an easy approved loan for 6 months. Therefore, finding the best cost installment lending firm for the unemployed that meets your financing needs is important. Interest fees aside, it is good to pick a reputable company with friendly payments guidelines.

To sum up, if you are going to borrow 900 dollar for covering expenses while looking for a new job, an easy approval 6 month loan lender can assist you with your financial needs. Just remember to use them on real necessities and not for frivolous purchases.



Applying for Federal Stafford Loans ~ #debt #consolidation #loans #for #bad #credit


#stafford loans
#

All About Stafford Loans

Student Guide to the Perfect Student Loan

Any student loan is a serious undertaking and should not be entered into lightly. You are agreeing to accept financial aid for your college tuition under contract to repay said loan in accordance with the provisions established by the loan officer. No loan is perfect, but the Federal Stafford Loan comes pretty close. Stafford Loans are the most common form of Federal financial assistance to students seeking to further their secondary education.

Features of the Stafford Loan:

  • Low interest
  • Easy to qualify
  • Undergraduate and graduate students may qualify
  • Government pays the interest on subsidized Stafford loans while student is in school
  • Students qualify for higher annual limits each year
  • No credit check required
  • Six-month grace period following graduation

What is the Stafford Loan?

Stafford Loans are government guaranteed student loans offered to qualifying students currently enrolled in an accredited college or university. These loans are made available through the Federal Direct Student Loan Program or through a private lender that participates in the Federal Family Education Loan Program (FFEL). Federal Stafford Loans are designed to enable students from all backgrounds access to low interest student loans in order to pursue their post secondary education.

Types of Stafford Loans:

  • The Subsidized Stafford Loan is a need based low interest student loan that is guaranteed by the US Federal government. Interest on this student loan is paid by the government for as long as the student remains enrolled in an accredited university or college. A six month grace period following graduation or cessation of classes is granted to allow the student time to enter the workforce and make suitable arrangements to fulfill their payment obligations.
  • The Unsubsidized Stafford Loan is not awarded on the basis of financial need and is available to many more students than the subsidized loan. Student borrowers are responsible for all accrued interest as soon as the loan nhas been disbursed, but may opt to defer these payments until after graduation. The unsubsidized Stafford Loan allows for a six month grace period following graduation before the borrower must begin repayment in accordance with the agreed terms of the original promissory note.

Stafford Loan Interest Rates and Fees

All Stafford Loans originating prior to June 30, 2006 have a variable interest rate adjusted annually and capped at 8.25%. Stafford Loans originating after July 1, 2006 and prior to July 1, 2011 have interest rates that are fixed at 6.8 %.

Subsidized Stafford Loans for undergraduate students granted between July 1, 2011 and June 30, 2012 will have fixed interest rates of 3.4%. For graduate and professional degree seeking students that fixed rate rises to 6.8%.

Unsubsidized Stafford Loans currently have a fixed interest rate of 6.8% for all student borrowers whether they are enrolled in undergraduate, graduate or professional degree seeking programs.

Stafford Loans, as guaranteed by the Federal government, remain one of the safest, most beneficial and lowest impact student loans available.

Qualifications for a Stafford Loan

The first step towards qualifying for a Federal Direct Stafford Loan is to fill out and submit the Free Application for Federal Student Aid. or FAFSA. Most students will qualify for some form of financial aid but until you submit your FAFSA you will never know what is available to you. Stafford Loans are the most common financial aid available to students entering college and nearly every applicant is eligible for either a subsidized or unsubsidized loan package.

Basic eligibility requirements for the Stafford Loan include:

  • Student must be a U.S. Citizen, permanent resident or eligible non-citizen
  • Student must complete and submit the FAFSA before the annual deadline
  • Student must be enrolled at least half-time in an accredited college
  • Student must not be in default on any other education loan

To qualify for a subsidized Stafford Loan student must meet the income requirements for need based aid.

Applying for a Stafford Loan

You must complete a FAFSA to qualify for any type of Stafford Loan. Students are notified if they are approved for need-based subsidized Stafford Loan funds. You are free to apply for unsubsidized Stafford Loan funds over and above any subsidized funds for which you’ve been approved.

Once you choose a student loan lender you will complete the Master Promissory Note for the Stafford Loan. This document details all the fine print of the loan, including your repayment responsibilities and terms.

Repayment of Stafford Loans

For both subsidized and unsubsidized Stafford Loans you have a standard 6-month grace period before you must begin repayment. During this time you are given information on repayment and reminded of loan terms and details of your payment schedule.

If at any time you have problems repaying a Federal student loan, you may apply for a Special Direct Consolidation Loan. Special Direct Consolidation Loans are designed to help borrowers manage their debt by placing all of their loans with one lender and reducing their payments to one manageable monthly bill.

Stafford Loans are the most common and most affordable student loans you can find in today’s lending market. Government regulation makes these loans safe as well as dependable and help to give students from all walks of life the opportunity to realize their potential by attending college of university.



Government Student Loan Programs ~ #federal #student #loan


#government loans
#

First Step: Government Student Loans

Your Number One Student Loan Choice

Low cost student loans are the number one source of financial aid for college bound individuals. There are two types of student loans to consider. The Federal student loan and the private lender student loan. Both have their advantages but savvy students will turn to the Federal student loan first. With easier qualification standards and lower fixed interest rates Federal loans make a college education more accessible to students from all walks of life.

Go Federal First

Most college bound students will need to rely on some form of student loan program. An education isn’t cheap and like it or not you will likely have to take out a loan to pay at least some of your costs. Government student loans offer the lowest interest rates and the most accommodating repayment plans. The Federal government guarantees these loans and most do not require a minimum credit score for eligibility.

Depending upon your college of choice you may be able to secure your student loan through the Federal Direct Student Loan Program. This program provides loans to eligible students with the only lender being the U.S. Department of Education. These low interest loans are designed to create a pathway to higher education for students who may be struggling to find the money to go to college.

Types of Government Student Loans

There are three types of Federal student loans to consider. The Stafford Loan, the Direct PLUS Loan for Parents and the Perkins Loan. Graduating students can also take advantage of a Federal Consolidation Loan to combine all of their college loans into one manageable loan package.

Federal Stafford Loan

The Federal Direct Stafford Loan comes in two varieties – subsidized and unsubsidized. The subsidized Stafford Loan is reserved for students with the most need and the interest that accrues is paid by the federal government for as long as the student remains enrolled in an accredited university or college. The unsubsidized Stafford Loan is available to almost every student who applies, however you are responsible for payment of monthly interest while in school though the principle is deferred until graduation.

Federal Direct PLUS Loan for Parents

The Federal Direct PLUS Loan for Parents is a credit-based alternative loan program specifically designed to provide low cost loans to parents of dependent college bound students. Parents can secure a loan up to the value of the cost of their student’s attendance less any other financial aid their child has been awarded. Repayment of the PLUS Loan begins as soon as the loan is fully disbursed and students must sign a promissory note guaranteeing repayment if the parent or guardian defaults at any time.

Federal Perkins Loan

The Federal Perkins Loan Program offers low interest loans to students who show exceptional financial need. Students enrolled in one of the 1700 participating colleges and universities can secure a low interest loan through that institution to help pay the costs of their education. The Federal government supplies funds to campuses annually, and the campuses in turn award loans to eligible students on a first-come – first served basis. For this reason students are advised to apply to their college of choice early.

Federal Direct Consolidation Loan Program

A standard component of the Federal loan program is the Direct Consolidation Loan. Student graduates with one or more Federal student loans may opt to combine all of them into one loan. This allows the student to reduce his loan payments to one more manageable monthly payment.

Applying for Government Student Loans

Before applying for any government loan you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is required for all forms of Federal aid programs. Whether you are applying for a Federal loan, grant or scholarship the FAFSA is your first step and must be submitted early to meet any deadlines for your loan or grant applications.



Short Term Unemployment Cash Advance Loans ~ Loans For People On SSI #bill #consolidation #loans


#unemployment loans
#

Short Term Unemployment Cash Advance Loans

It is not a pleasant feeling for sure when you are jobless and bogged with financial worries. If you currently need a cash loan with no job, your pride takes a beating when you keep getting denied by bank officers. Instead of asking from friends or your family members, you can consider a temporary unemployment cash loan. Online approval lenders are available for people who are not employed and have no credit history, and find it almost impossible to get a $900 private cash loan anywhere else.

Unemployment urgent lenders are increasing popular as people are made more aware of their existence, where they can get a no-job cash loan despite having no stable employment. From getting a urgent cash loan for 6 month to tide you out, or to use them as emergency cash for unexpected expenses, these unemployment cash loans are valued as they bring relief for many people who need cash urgently.

You can apply for a short term cash advance loan from non-bank loan companies and there are several online companies that provide these emergency high risk loans for people who have no full time work. The process is simple, with no tedious paperwork or drawn out processing time. You can get instant decision on your online application with no faxing required.

Shorter cash loan companies do not make lending decisions based on just your credit history alone so even if you have 700 credit score, it will not disqualify you from getting one hour approval for a online 900 dollars loan. Some accredited loan lenders may require a guarantor if you are asking for a 6 month urgent loan that is above $900 dollars, but even if that is the case, you would likely be paying cheap interest costs when you have a co-signer.

Repayments terms vary among BBB listed lenders as well. Most unemployment cash advance companies will cap a limit of 180 day on unsecured loans for people without income but if you are lucky, you may come across direct loan companies that are more receptive to giving you an easy approved loan for 6 months. Therefore, finding the best cost installment lending firm for the unemployed that meets your financing needs is important. Interest fees aside, it is good to pick a reputable company with friendly payments guidelines.

To sum up, if you are going to borrow 900 dollar for covering expenses while looking for a new job, an easy approval 6 month loan lender can assist you with your financial needs. Just remember to use them on real necessities and not for frivolous purchases.



Legit Unemployment Loans You Can Slowly Pay ~ Lenders You Can Pay Back Slowly #1 #hour #payday #loans


#loans for the unemployed
#

Lenders You Can Pay Back Slowly

Disclaimer

*This site is a free loan finding service and not a grantor of credit or a direct cash lender. Not every lender will loan more than $1,000 at any one time. Loan offers are subject to change at any time and personal loans or installment loans are subject to credit check. Loans over $1,000 may require collateral to secure.

** APR s may vary greatly between different loan types. We aim to locate the best lender for our customers based on the information provided to offer a valuable service. Unsecured personal services over a $1000 are available in all states except for residents of Alaska Arkansas.

Categories

Legit Unemployment Loans You Can Slowly Pay

There are times when I run out of cash, so where can I borrow $3000 with bad credit and I need the money now. The best way to get a cheap easy loan when you are in a hurry is from legitimate online loan companies. These providers can do fast direct funds transfer to your checking account so that you get the money fast. You can use these as a bridging loan for a few months and pay back the loan lenders a small portion of the balance whenever you get your pay checks. It is fast to get legit unemployment loans you can slowly pay but not everybody will find these suitable.

As more and more people are using unemployment loans to bridge the gap between temporary jobs and to get emergency cash, many online legit loan providers are extending their financial services to include long term cash advances with monthly payments. These are licensed lending companies who give real loans you can slowly pay.

When you are unemployed and need money, you may be wondering where to borrow legit unemployment loans you can slowly pay and tide over difficult times. Our established lenders with no upfront fees are the best way to resolve temporary cash problems fast while looking for a job. You do not have to be in debt for a long time, as these can be paid off with money from unemployment benefits or other welfare schemes. It helps to be careful with your existing debt payback and expenses before you decide to take legit installment loans for unemployed borrowers as a temporary solution to urgent bills. This will keep your borrowing fee low and affordable, despite the negative news about online lenders with lower APR and flexible pay back.

You should have a checking or savings account in good standing to get $3000 loans you can slowly pay . Direct lenders that make savings account signature loans may not be willing to mail you a check the old slow way. Most lenders prefer customers to pay without writing a check, that is to directly debit from your bank account on maturity date. Therefore, you need to ensure that you have a checking or savings account with direct deposit as well.

Find out more about our legit unemployment loan lenders you can slowly pay back every month. If you fulfill the above mentioned factors then you are eligible for our fast cash loans. With our free online lending services, you will have no more financial worries and the loan amount will reach your checking account by the next day, usually within 24hr.



Best Way to Get a Legit Unsecured Loan Lender For Bad Credit ~ Legitimate Direct Lenders #advance #loans


#online loans for bad credit
#

Thursday, April 25, 2013

Best Way to Get a Legit Unsecured Loan Lender For Bad Credit

When you are in debt and have bad credit, you are being hammered hard on both sides by creditors. For example, you are stuck with high interest credit card repayments and unsecured personal loans but do not know how to get a low interest 10000 dollar unsecured signature loan to cover the former. Most of your paycheck is used to service the monthly repayments, but because of the high interest rates associated with your bad credit, your creditors will charge higher rates of interest on these loans for tenants.

There are too many Americans with bad credit ratings today, all thanks to the convenience of impulsive shopping with credit cards. Many just buy and buy without planning whether they have exceeded what they can really afford and when they realize their monthly disposable income can only pay the minimum credit card repayment amount which does little to reduce their unsecured personal loans.

Many Americans will be working just to give up their paychecks for the banks and credit card companies to profit from the monthly bad credit loan interest. Sooner or later, they will start lapsing on the monthly loan payments and their credit scores get affected and started dropping down readily. When that happens, these people with credit card money owed can no longer apply for $1000 unsecured signature loans because of their bad FICO scores.

If they started on a debt consolidation assistance program such as secured consolidation loans earlier before they are hit with bad credit ratings, they would have been able to get out of their expensive loans faster since the interest savings are considerable.

So, where is the best place to borrow $1500 with bad credit. There are legitimate lenders for loans with bad credit can help many people out of the above mentioned personal financial nightmare. Many people do not realize the importance of having a good credit rating nor know about the free credit scores that can be requested from online.

Of course, the banks and loan companies know more than you because they use these credit reports in considering your short term loans with bad credit application. If you meet their minimum credit requirement, you will be granted high risk personal loans with bad credit.

Next, the actual interest rates and loan duration are also computed based on your credit scores. Borrowers with good credit will be offered cheaper interests and flexible repayment schedules. You have bad credit so your loan terms will be harsher, since you are considered as high risk personal loans.

Where to Find Cash Loans For People With Bad Credit

Cash advance loans with bad credit are catered for non-homeowners who also have zero assets to use for secured loan collaterals. The bad credit loan interest rate will naturally be higher compared to loans for good credit borrowers or those secured homeowner loans.

Anyway, as long as the interest rate for unsecured personal loans are lower than all the other monies owed, accepting these loan terms is still part of a sound debt consolidation assistance plan.

Homeowners with bad credit have a choice to decide between paying higher interest rates for unsecured personal loans or to use their property as additional security to get lower interest rates secured personal loans. Tenants with bad credit who only rent a room or house do not have a choice other than these lenders for bad credit.

Besides the lenders considering the risk on granting personal loans with bad credit, the borrowers should also consider the risk involved with both secured and unsecured personal loans. Lets define loan risk as the potential financial damage that can happen if you cannot make the loan repayments in the future. This means when homeowners apply for personal loans with bad credit using their properties as loan collateral to lower the interest fees, the loan lender can repossess their houses should some unexpected events happen that prevent you from repaying the personal loans with bad credit punctually. That is why such loans are attracting both homeowners and tenants with bad credit.

One unintended benefit of online loan lenders is that they have very fast loan approval time. Since no property evaluation is needed, and bad credit background of borrowers is already assumed, a high credit score is unnecessary as well. That means the processing for small dollar loans with bad credit is actually very minimal and can be wrapped up in matters of days. Hence, they are useful as timely sources of bad credit loans when unexpected cash flow problems arises.

Not everything about online cash loans with bad credit is merry. Since no collaterals like houses and cars, lenders will limit the loan amount available through such bad credit personal loans to typically less than $10,000. Hence, you cannot use unsecured personal loans with bad credit for major expenditures.

Actually, you should be using bad credit mortgages instead. The interest rate for these loans is also significantly higher. Even though this is justified for borrowers who really have a tendency to default on the loan repayments, most of the time the lenders enjoy a nice profit from the majority of good natured borrowers that just happened to have a bad credit. The inflated interest rates for borrowing money with bad credit are being socially accepted by the public as the norm, or simply because they have no other options.

Anyway, the money you get from loans with 90 day payment can actually be used on any purpose, practically you can do whatever you like, such as investing in get rich programs in the hope that you win big and can repay all your old and new debts as well as get a fat bank account.

Go ahead, dream on but reality will make you fall hard on your face. It is prudent to use money from the online approval loan lenders for bad credit to quickly consolidate student loans that are charging higher interest. That way, you will end up paying lesser bad credit loan installments every month and have an easier time managing your disposable income. You are more likely to be able to pay your bills punctually every month and not miss any payment. This allows you to repair your credit and eventually ask for lowered interests on your remaining debts with your improved credit standing.

Well, you can always do another debt consolidation with lower loan interest with your good credit scores now. Thus although the new financing are still loans, your bad credit is no longer preventing loans from becoming effective financial tools to help improve your life. Click here to get in touch with our lenders for a new loan offer.



FHA Loan Calculator ~ FHA Mortgage Rates, Limits & Qualification Information #loan #rate


#fha loan qualifications
#

FHA Maximum Financing Calculator

Calculating the Max Amount for an FHA Backed Loan

The U.S. Department of Housing and Urban Development (HUD) has been has been helping first-time homebuyers get loans backed by the Federal Housing Administration (FHA) since 1934. Traditional lenders such as banks issue the loans, but they are insured by the FHA, reducing the risk to the lender and allowing the lender to provide better terms.

FHA loans require low down payments typically only 3.5 percent and low closing costs, many of which can be included in the loan. The FHA also offers loans that allow you to purchase a home in need of repairs and to roll the cost of the fixes into the primary mortgage loan. Other loans are available for seniors, for those looking to make energy improvements to their home, and for those who want to buy manufactured or mobile homes.

Another part of what makes FHA loans so attractive to first-time homebuyers is that they have easy credit qualifying. If you don’t have a perfect credit score, but you have a good history of paying your bills on time, you will likely qualify for an FHA loan.

FHA Loan Limits

The FHA sets caps on what you can borrow based on where you live or where you intend to purchase a home. These loan limits are based on the average price of a home in your area and on the type of home it is, including single family, duplex, triplex and four-plex.

For example, the limit for a single-family home in Alamance County in North Carolina is $271,050, while the limit for a duplex in the same county is $347,000.

Loan limits vary significantly depending on where you intend to purchase a home. For example, the loan limit for a single-family home in New York County in New York is $729,750.

To see the loan limits where you intend to purchase, check out this HUD page .

Other Requirements

Loan limits are just a starting point for determining how much you can borrow with an FHA loan. As with other home loans, FHA loans require lenders to meet guideline for housing expense ratios and debt-to-income ratios.

Traditional mortgages require that your total monthly mortgage payment not exceed 28 percent of your monthly gross income, and that your total monthly debt payments including your mortgage, car loan, student loans and other obligations not exceed 31 percent of your gross monthly income. However, the FHA increases these limits, allowing you to have a 31 percent housing expense ratio and a 43 percent total debt-to-income ratio. You can find these ratios by dividing your monthly mortgage payment by your monthly income, or by totaling up your monthly debt payments and dividing them by your monthly income.

FHA loans also require that you carry mortgage insurance, which is included in your monthly mortgage payment. The more expensive the home you buy, the more expensive the mortgage insurance will be.

Like other loans, you are also required to carry homeowner’s insurance, which includes paying the premium at closing, and to pay your property taxes in escrow.

FHA Loan Calculation

Though FHA loans offer some flexibility for first-time homebuyers to help them afford a new home, it can be confusing trying to figure out just how much you can borrow under an FHA loan because of al the criteria involved with the loan.

The FHA maximum financing calculator at MortgageCalculator.org makes it easy for you to understand jus how much you can borrow. Enter in all the variables, including the sales price of the home you wish to buy, the appraised value of the home, borrower-paid closing costs, prepaid expenses, discount points, any repairs or improvements you wish to make and include in the cost of the loan, and your mortgage insurance premium. We’ll send you fast results including the cash required at closing and how much you are able to purchase.

Just enter your e-mail and have your results delivered in moments, including a plain-English explanation with everything you need to know about your borrowing options.



US Government Federal Student Loan Programs ~ #payday #advance #loans


#low cost loans
#

Applying and Qualifying for the Federal Perkins Loans

Low-Cost Campus-Based Financial Aid

For the college bound student looking for financial aid, qualifying for a grant is ideal. But, not all grants will cover the entirety of your tuition costs. When you factor in book costs, dorm fees and the cost of living in general most grants fall short of the mark when it comes to paying all of your college expenses. That’s why student loans play such a major role in financing a college education.

Federal students loans, with their fixed low interest rates and flexible repayment plans, offer the most attractive solution. The Federal Perkins Loan Program should be a key component in any student’s college financial plan. The Perkins loan offers many benefits and features that make it an excellent source of financial aid for eligible students.

Features of a Perkins Loan:

  • Low-interest, fixed rate loans
  • Need-based
  • Available through participating colleges and universities
  • Optional loan cancellation for eligible borrowers
  • Available to eligible undergraduate and graduate students
  • 9-Month grace period
  • No application fees
  • No credit checks

What is a Federal Perkins Loan?

The Federal Perkins Loan is a campus-based financial aid package that is available to both undergraduate and graduate students. Participating colleges and universities receive annual loan allowances from the U.S. Department of Education, and it is from theses funds that the school makes Perkins Loans available to eligible students. These loans are limited number and eligible students are advised to apply early. Perkins loans are free of any application or other hidden fees and offer a 9 month grace period following graduation before repayment must begin.

Perkins Loan recipients borrow directly from the college campus of their choice. These are subsidized loans, meaning the government pays the interest that accrues on the loan for as long as a students remains in school as well as the 9 month grace period. Under graduate students are limited to loans of $4,000 per year, with a lifetime limit of $20,000. Graduate students are allowed an increased limit of $6,000 per annum, with a $40,000 lifetime limit.

While many students qualify for the Federal Perkins Loan, not all colleges and universities participate in the program. Check with your college of choice to learn if they are one of the approximately 1700 colleges and universities that do participate in the program. With it’s fixed low interest rates, Federal subsidization and flexible repayment terms the Perkins Loan is the most borrower friendly student loan available.

Qualifications for a Perkins Loan

The chief determining factor of a student’s eligibility for the Perkins Loan program is financial need. A student must fall within a certain income bracket and the student’s Expected Family Contribution or EFC must be rated low on the Federal scale. Other application requirements include:

  • Student must be enrolled in an accredited school at least half-time.
  • Student must be enrolled in a college or institution that participates in the program.
  • Student must be a U.S. citizen, a legal permanent resident or an eligible non-citizen.
  • Student must no history of defaulting on prior student loans.
  • Student must be registered with the Selective Service where applicable.
  • Student must meet minimum GPA.

Applying for a Perkins Loan

All Federal financial aid programs require students to fill out and submit the Free Application for Federal Student Aid or FAFSA. Once you have submitted your FAFSA and it has been reviewed, you will receive your Student Aid Report which details the amount of your Expected Family Contribution (EFC). This is the amount of money you or your family are responsible for contributing to your education.

Within a few weeks, you should receive follow up letters from the colleges to which you have applied detailing any and all types of financial aid for which you have qualified, including the Perkins Loan. This letter must be returned to the college or university indicating what financial aid you are accepting. If you are approved for a Perkins Loan you must coordinate with your school immediately to secure the loan and receive your financial aid money. Loan funds are limited and the earlier you respond the better your chances of getting the loan you need.

Repayment of the Perkins Loan

During the final weeks of your college term your school will contact you and provide loan repayment details relative to your Perkins Loan. You will have the benefit of a 9 month grace period in which to become settled and find a job before any repayment schedule begins. This grace period is one of the major bonuses of the Federal Perkins Loan program, allowing students some time to enter the workforce before any loan payments must be made.

Loan Cancellation for Teachers

A significant benefit of the Federal Perkins Loan program is the Cancellation or Deferment Option for Teachers. Students who agree to take up full time teaching positions in low-income public school districts, or take positions teaching in certain subject areas may be eligible for cancellation or deferment of all or part of your Perkins loan. Check with your college for more information regarding any deferment or loan forgiveness programs for which you may be eligible.



Short Term Unemployment Cash Advance Loans ~ Loans For People On SSI #astrive #student #loans


#unemployment loans
#

Short Term Unemployment Cash Advance Loans

It is not a pleasant feeling for sure when you are jobless and bogged with financial worries. If you currently need a cash loan with no job, your pride takes a beating when you keep getting denied by bank officers. Instead of asking from friends or your family members, you can consider a temporary unemployment cash loan. Online approval lenders are available for people who are not employed and have no credit history, and find it almost impossible to get a $900 private cash loan anywhere else.

Unemployment urgent lenders are increasing popular as people are made more aware of their existence, where they can get a no-job cash loan despite having no stable employment. From getting a urgent cash loan for 6 month to tide you out, or to use them as emergency cash for unexpected expenses, these unemployment cash loans are valued as they bring relief for many people who need cash urgently.

You can apply for a short term cash advance loan from non-bank loan companies and there are several online companies that provide these emergency high risk loans for people who have no full time work. The process is simple, with no tedious paperwork or drawn out processing time. You can get instant decision on your online application with no faxing required.

Shorter cash loan companies do not make lending decisions based on just your credit history alone so even if you have 700 credit score, it will not disqualify you from getting one hour approval for a online 900 dollars loan. Some accredited loan lenders may require a guarantor if you are asking for a 6 month urgent loan that is above $900 dollars, but even if that is the case, you would likely be paying cheap interest costs when you have a co-signer.

Repayments terms vary among BBB listed lenders as well. Most unemployment cash advance companies will cap a limit of 180 day on unsecured loans for people without income but if you are lucky, you may come across direct loan companies that are more receptive to giving you an easy approved loan for 6 months. Therefore, finding the best cost installment lending firm for the unemployed that meets your financing needs is important. Interest fees aside, it is good to pick a reputable company with friendly payments guidelines.

To sum up, if you are going to borrow 900 dollar for covering expenses while looking for a new job, an easy approval 6 month loan lender can assist you with your financial needs. Just remember to use them on real necessities and not for frivolous purchases.



Current FHA Home Loan Rates ~ FHA Mortgage Rates #cheapest #home #loans


#what is a fha loan
#

FHA Mortgage Rates

Take Advantage of Low Rate Home Loans From The Federal Housing Administation

FHA Mortgage Rates Remain at Historic Lows

Nearly four out of 10 buyers who purchased a home in November of 2009 did so with the help of a mortgage loan insured by the Federal Housing Administration, or FHA. And in especially good news for buyers, FHA mortgage rates remained at historic lows as 2010 began.

According to financial Web site Bankrate.com, the average interest rate on a 30-year fixed-rate mortgage loan, including those insured by the FHA, stood at 5.04 percent in mid-February. Considering that just two years ago interest rates of 6 percent were considered outstanding, average rates just above 5 percent have to be considered historic.

Of course, that doesn’t mean that there aren’t challenges today when it comes to taking out mortgage loans. A total of 2.8 million U.S. households received foreclosure filings in 2009, according to online foreclosure company RealtyTrac.com. That’s a record number. And many of these foreclosures are the result of bad mortgage loans passed out by lenders to borrowers with shaky credit histories and high levels of debt.

Because of this, mortgage lenders are more cautious when doling out mortgage money. Not only must borrowers boast strong credit scores, they must also pay higher down payments. Most conventional mortgage loans require borrowers to come up with down payments of at least 20 percent of a home’s purchase price. This is a significant chunk of money for many home buyers to come up with. Consider that a down payment of 20 percent of a home with a purchase price of $200,000 would be $40,000, and it becomes easy to see that a down payment could become the toughest hurdle for buyers to overcome in their efforts to purchase a home.

This is why FHA-insured mortgage loans have become so popular. FHA loans require down payments of just 3-and-a-half percent of a home’s purchase price. This means that the buyers of that $200,000 house would have to come up with a down payment of just $7,000, a far more attainable figure. FHA loans also are approved quickly these days; gone are the days when gaining approval for an FHA loan took months. Today, lenders are able to approve these government-insured loans in days.

FHA mortgage rates hew closely to the mortgage rates on traditional home loans. If the average interest rate on a 30-year fixed-rate mortgage stands at 5.4 percent, you can figure that the average FHA mortgage rate is nearly the same. This makes these loans even more attractive.

Another positive of FHA loans is that it is relatively easy for borrowers to qualify for them. Traditional mortgage lenders, remember, are still skittish about the country’s soaring rate of housing foreclosures. Because of this, they are requiring that most borrowers have credit scores of 620 or higher to qualify for their mortgage loans. Borrowers must have scores of 720 or higher to qualify for the top interest rates from these private lenders.

FHA loans, though, are often approved for borrowers whose credit scores fall as low as 580. And even borrowers with middling scores will qualify for low FHA mortgage rates. FHA-insured loans are designed to help a greater number of potential buyers achieve their dream of owning a home. The low interest rates, smaller down payment figures and greater leniency when it comes to credit scores are all strategies that the FHA uses to help boost the country’s home ownership rate.

To take advantage of the low rates and less-stringent requirements of FHA loans requires a bit of shopping on the part of consumers. Taking out an FHA loan, in fact, requires the same process and research that consumers put into applying for conventional mortgage financing. This means that it’s essential for consumers to shop around at several mortgage lenders or banks to find the lowest interest rates and origination fees.

These fees will vary widely depending on the bank or lender. Fortunately, it’s easier than ever for consumers to shop for the best FHA mortgage rates. They can run simple Internet searches at local and national banks and lenders to determine their average interest rates and closing and origination fees. Most banks and lenders readily share this information today; those that don’t might find it difficult to attract the greatest number of potential home buyers.

There is one extra step in applying for an FHA loan: Consumers must make sure that any lender with which they decide to work is actually licensed by the FHA to give out FHA-insured mortgage loans. Fortunately, the vast majority of mortgage lenders today do work with the FHA. The reason is a simple one: FHA loans are increasing in popularity thanks to their low down payment requirements. Lenders and banks that don’t work with the administration will again find themselves missing out on a significant number of potential clients. In today’s difficult economy, no lending institution wants to turn away potential business.

Once consumers have found a lender or bank that deals with FHA-insured mortgage loans, they then have to begin the loan-application process. This can be a complicated, lengthy process. But this is the case whether consumers are taking out conventional mortgage loans or FHA loans.

To start the process, borrowers will send their lending institution copies of their last two federal income tax returns, last two paychecks, bank savings and checking account statements, other loan statements and credit-card bills. Lenders will study these papers to make sure that borrowers’ monthly debt obligations, including their estimated new mortgage payments, are less than 36 percent of their gross monthly income.

Lenders will then run a credit check on borrowers. Lenders rely on three-digit credit, or FICO, scores to determine not only who qualifies for an FHA loan but at what interest rates. The better the FICO score, the lower the interest rates consumers will pay. FICO scores are impacted by several factors. In general, borrowers with a history of paying their bills on time and with a low amount of revolving debt will have strong credit scores. Those who frequently forget to send in their car-loan payments will have weaker scores.

Once a lender approves a borrower’s loan application, the borrower will have to sign what may seem like a mountain of paperwork that makes the loan official. Borrowers will also have to pay any closing and origination fees at this time. These fees might include title insurance, document-prep, origination and appraisal fees.

Taking out a mortgage loan, whether it be insured by the FHA or a convention loan, is never an easy process. But by taking out an FHA loan, and by doing their research before doing so, borrowers will increase their odds of finding the right mortgage product for them. And thanks to the record-low FHA mortgage rates of today, borrowers will have spend less than ever to borrow this money.



Best Online Unemployment Loans For People With No Job ~ Personal Lenders Information #citi #loans


#loans for unemployed people
#

Personal Lenders Information

Find Direct Lenders For Private Loans Online.

Best Online Unemployment Loans For People With No Job

For people who are currently without income, there are not many loan options for the not working available from high street banks and financial institutions. The private lending institutions who are able to offer cash loans for those getting benefits may justify their higher fees claiming higher risk of default of payments from people who do not have a stable income. Therefore if you are jobless and need a quick cash advance, it is important to know how to search for best online unemployment loan lenders that have affordable costs with easy repayments plans.

Your first priority when applying with an unemployment cash loan lender should be the finance fee of no full time employment cash loans. To find a cheap loan for the jobless, you can check with the websites of BBB recommended loan lenders to compare the costs quotes (Annual Percentage Rate) and size up whether you are getting the cheapest rate no-income personal loan.

Depending on your financial needs, the best online unemployment loan may not necessarily have to be a payday cash advance with low borrowing fee. Several factors determine how you can get the best signature loan. For example, if you are extremely short of cash this month but only need a small micro cash advance to tide you over, you may want to approach licensed loan lenders online for easy to approve short term $400 dollars cash advance, where you will have to pay back over a longer period. Sometimes it can be a same day $400 cash loan and you return the money after two weeks. Because of the relatively small sum of money that you are borrowing, the expected rate on high risk credit will not hurt your pockets. The situation will be different if you want to borrow more than 400 dollars with no credit, so find a reputable lender you can pay after 3 months.

If you have to borrow a large sum of money and take out a large unemployment signature cash advance, you will need to ensure that you are able to afford the interest rates quoted for no job loans, especially if you know you are going to take more than 6 months to pay off everything.

If you need a licensed cash advance with no upfront fees today with easy payback plans, it is important to look for private lenders who have a variety of flexible repayment options. If you have the tendency of missing payments on credit cards or other bills, you should compare non-bank urgent cash advance that do not charge expensive late payment penalties and search internet finance companies that will allow you to roll-over on your balance, by paying a small fee to extend the payments period.

The advent of the internet makes it easy to find the cheapest rates unemployment loan companies online. Advertisers for such shorter term loans or no fax loans are aplenty so you can start by visiting the websites of reputable cash loan companies that are BBB approved and compare each of them to evaluate how you can get the lowest cash advance for the not employed people. Contact us for free loan offers today.



Applying for Federal Stafford Loans ~ #ideal #home #loans


#stafford loans
#

All About Stafford Loans

Student Guide to the Perfect Student Loan

Any student loan is a serious undertaking and should not be entered into lightly. You are agreeing to accept financial aid for your college tuition under contract to repay said loan in accordance with the provisions established by the loan officer. No loan is perfect, but the Federal Stafford Loan comes pretty close. Stafford Loans are the most common form of Federal financial assistance to students seeking to further their secondary education.

Features of the Stafford Loan:

  • Low interest
  • Easy to qualify
  • Undergraduate and graduate students may qualify
  • Government pays the interest on subsidized Stafford loans while student is in school
  • Students qualify for higher annual limits each year
  • No credit check required
  • Six-month grace period following graduation

What is the Stafford Loan?

Stafford Loans are government guaranteed student loans offered to qualifying students currently enrolled in an accredited college or university. These loans are made available through the Federal Direct Student Loan Program or through a private lender that participates in the Federal Family Education Loan Program (FFEL). Federal Stafford Loans are designed to enable students from all backgrounds access to low interest student loans in order to pursue their post secondary education.

Types of Stafford Loans:

  • The Subsidized Stafford Loan is a need based low interest student loan that is guaranteed by the US Federal government. Interest on this student loan is paid by the government for as long as the student remains enrolled in an accredited university or college. A six month grace period following graduation or cessation of classes is granted to allow the student time to enter the workforce and make suitable arrangements to fulfill their payment obligations.
  • The Unsubsidized Stafford Loan is not awarded on the basis of financial need and is available to many more students than the subsidized loan. Student borrowers are responsible for all accrued interest as soon as the loan nhas been disbursed, but may opt to defer these payments until after graduation. The unsubsidized Stafford Loan allows for a six month grace period following graduation before the borrower must begin repayment in accordance with the agreed terms of the original promissory note.

Stafford Loan Interest Rates and Fees

All Stafford Loans originating prior to June 30, 2006 have a variable interest rate adjusted annually and capped at 8.25%. Stafford Loans originating after July 1, 2006 and prior to July 1, 2011 have interest rates that are fixed at 6.8 %.

Subsidized Stafford Loans for undergraduate students granted between July 1, 2011 and June 30, 2012 will have fixed interest rates of 3.4%. For graduate and professional degree seeking students that fixed rate rises to 6.8%.

Unsubsidized Stafford Loans currently have a fixed interest rate of 6.8% for all student borrowers whether they are enrolled in undergraduate, graduate or professional degree seeking programs.

Stafford Loans, as guaranteed by the Federal government, remain one of the safest, most beneficial and lowest impact student loans available.

Qualifications for a Stafford Loan

The first step towards qualifying for a Federal Direct Stafford Loan is to fill out and submit the Free Application for Federal Student Aid. or FAFSA. Most students will qualify for some form of financial aid but until you submit your FAFSA you will never know what is available to you. Stafford Loans are the most common financial aid available to students entering college and nearly every applicant is eligible for either a subsidized or unsubsidized loan package.

Basic eligibility requirements for the Stafford Loan include:

  • Student must be a U.S. Citizen, permanent resident or eligible non-citizen
  • Student must complete and submit the FAFSA before the annual deadline
  • Student must be enrolled at least half-time in an accredited college
  • Student must not be in default on any other education loan

To qualify for a subsidized Stafford Loan student must meet the income requirements for need based aid.

Applying for a Stafford Loan

You must complete a FAFSA to qualify for any type of Stafford Loan. Students are notified if they are approved for need-based subsidized Stafford Loan funds. You are free to apply for unsubsidized Stafford Loan funds over and above any subsidized funds for which you’ve been approved.

Once you choose a student loan lender you will complete the Master Promissory Note for the Stafford Loan. This document details all the fine print of the loan, including your repayment responsibilities and terms.

Repayment of Stafford Loans

For both subsidized and unsubsidized Stafford Loans you have a standard 6-month grace period before you must begin repayment. During this time you are given information on repayment and reminded of loan terms and details of your payment schedule.

If at any time you have problems repaying a Federal student loan, you may apply for a Special Direct Consolidation Loan. Special Direct Consolidation Loans are designed to help borrowers manage their debt by placing all of their loans with one lender and reducing their payments to one manageable monthly bill.

Stafford Loans are the most common and most affordable student loans you can find in today’s lending market. Government regulation makes these loans safe as well as dependable and help to give students from all walks of life the opportunity to realize their potential by attending college of university.



FHA Loan Calculator ~ FHA Mortgage Rates, Limits & Qualification Information #citi #student #loans


#fha loan qualifications
#

FHA Maximum Financing Calculator

Calculating the Max Amount for an FHA Backed Loan

The U.S. Department of Housing and Urban Development (HUD) has been has been helping first-time homebuyers get loans backed by the Federal Housing Administration (FHA) since 1934. Traditional lenders such as banks issue the loans, but they are insured by the FHA, reducing the risk to the lender and allowing the lender to provide better terms.

FHA loans require low down payments typically only 3.5 percent and low closing costs, many of which can be included in the loan. The FHA also offers loans that allow you to purchase a home in need of repairs and to roll the cost of the fixes into the primary mortgage loan. Other loans are available for seniors, for those looking to make energy improvements to their home, and for those who want to buy manufactured or mobile homes.

Another part of what makes FHA loans so attractive to first-time homebuyers is that they have easy credit qualifying. If you don’t have a perfect credit score, but you have a good history of paying your bills on time, you will likely qualify for an FHA loan.

FHA Loan Limits

The FHA sets caps on what you can borrow based on where you live or where you intend to purchase a home. These loan limits are based on the average price of a home in your area and on the type of home it is, including single family, duplex, triplex and four-plex.

For example, the limit for a single-family home in Alamance County in North Carolina is $271,050, while the limit for a duplex in the same county is $347,000.

Loan limits vary significantly depending on where you intend to purchase a home. For example, the loan limit for a single-family home in New York County in New York is $729,750.

To see the loan limits where you intend to purchase, check out this HUD page .

Other Requirements

Loan limits are just a starting point for determining how much you can borrow with an FHA loan. As with other home loans, FHA loans require lenders to meet guideline for housing expense ratios and debt-to-income ratios.

Traditional mortgages require that your total monthly mortgage payment not exceed 28 percent of your monthly gross income, and that your total monthly debt payments including your mortgage, car loan, student loans and other obligations not exceed 31 percent of your gross monthly income. However, the FHA increases these limits, allowing you to have a 31 percent housing expense ratio and a 43 percent total debt-to-income ratio. You can find these ratios by dividing your monthly mortgage payment by your monthly income, or by totaling up your monthly debt payments and dividing them by your monthly income.

FHA loans also require that you carry mortgage insurance, which is included in your monthly mortgage payment. The more expensive the home you buy, the more expensive the mortgage insurance will be.

Like other loans, you are also required to carry homeowner’s insurance, which includes paying the premium at closing, and to pay your property taxes in escrow.

FHA Loan Calculation

Though FHA loans offer some flexibility for first-time homebuyers to help them afford a new home, it can be confusing trying to figure out just how much you can borrow under an FHA loan because of al the criteria involved with the loan.

The FHA maximum financing calculator at MortgageCalculator.org makes it easy for you to understand jus how much you can borrow. Enter in all the variables, including the sales price of the home you wish to buy, the appraised value of the home, borrower-paid closing costs, prepaid expenses, discount points, any repairs or improvements you wish to make and include in the cost of the loan, and your mortgage insurance premium. We’ll send you fast results including the cash required at closing and how much you are able to purchase.

Just enter your e-mail and have your results delivered in moments, including a plain-English explanation with everything you need to know about your borrowing options.



Bank of America Student Loans ~


#bank loans
#

Student Loan Program from Bank of America

Update:В  Until recently, Bank of America administered Federal Student Loans.В  Currently, these loans are issued exclusively through the U.S. Department of Education Direct Loans Program.В  Additional privately funded student financing options have historically been a part of Bank of America s lending portfolio, but these student loans programs have been suspended until further notice.

The following entry is provided for historical reference and to serve as a resource; should Bank of America initiate student loans at a future date.В  For specific and current information, contact Bank of America directly at 1-800-344-8382 .

Bank of America. В  like many other lenders, offers student loans to help finance your college experience. At first glance, many private student loans look the same, but there are distinctions worth noting.

Education loans are structured differently than other loans, and they offer unique benefits to borrowers. It is important to make distinctions between the types of loans Bank of America offers, so that you can make informed education financing decisions.

CampusOne Student Loans

Bank of America is a student loan originator.В  When you are awarded student loans, as part of your federal financial aid package, you are permitted to choose your own lender.В  Bank of America can serve your needs in this area.

Bank of America handles the most common federal loans, Including Stafford Loans, PLUS loans (for parents), Graduate Student PLUS loans and Federal Consolidation Loans.

Stafford loans are issued as dependent loans or as independent loans.В  When determining financial aid needs for dependent students, the Department of Education considers parental income, as part of the financial aid application.В  Independent student need relates only to the income and assets of the individual student.В  As a result, student loan borrowing limits are higher for independent students.

Private Bank of America Student Loans

Private loans from Bank of America are not tied to your federal financial aid offers. They are similar to other loans you d request from banks and credit unions, in that eligibility is based on your credit history.В  If you do not have a positive credit record, you might need a cosigner to get a private student loan.

However, there are some important considerationsto be aware of when pursuing private student loans.Specifically, Bank of America offers two types of private student loans: those that are certified by your school and those that are not.

School Certified Loans

The two types of certified loans offered by Bank of America are Private Student Loans and Bank of America TERI Loans. Private loans help fill gaps left when your other financial aid resources are exhausted. Private loans can be accessed by undergraduate and graduate students, and offer flexible repayment terms that sometimes require minimum monthly payments as low as $50.

Bank of America TERI Loans are aligned with a non-profit agency called The Educational Resources Institute.В  Founded in 1985, the Institute s stated mission is to increase access to higher education for low-income students.В  Since its founding, the group has aided over one-million individuals. Update:В  Due to unusual market conditions, TERI has suspended all student loan programs.В  The Institute continues to provide educational planning and advising services, and is working with lender partners to minimize the disruption of lending services.

Non-Certified Loans

The other private loans offered by Bank of America do not need to be certified by your school. One example is the CampusEdge Student Loan, which acts as a supplement to other federal financial aid. It can be applied to education expenses like textbooks, dorm fees and cafeteria meal plans.

Another non-certified BofA loan is the Education Maximizer Loan, which also acts as a supplement to federal loans and grants. You can use the money for any education-related expenses, with generous borrowing limits of up to $40,000 a year. Payments can be postponed until after you have graduated from college.

Bank of America Student Services

Although Bank of America has suspended student lending, the bank does offer some helpful student services.В  Solutions for Students is a convenient source of banking for college students.В  The service includes:

  • Ebanking with no minimum balance
  • Mobile Banking
  • Budgeting Tools
  • Online Statements
  • Text alerts

The Bank of America Student Platinum Plus Visa Card is another resource for students.В  Designed with college students in mind, the card includes 4 years of free identity theft protection and no annual fees.В  A competitive interest rate and a host of student-friendly services help you build your own credit, as you attend school.