BEFORE YOU APPLY FOR A MORTGAGE LOAN

This article will make it easier for you to qualify for a mortgage loan and help you cushion its long-run effect if your debt ratio is high. Chances are good that if you’re already paying rent, making a mortgage payment will be a smooth transition. Along with the mortgage payment, you’re also responsible for real estate taxes and insurance, and if required, mortgage insurance and homeowners dues. Work with us to determine the monthly payment you can afford based on your income and the standard debt-to-income ratio guidelines.

Before making a loan, most lenders will want to review how you have handled your credit in the past. This includes all credit accounts, including utilities, revolving debt. The world of home finance offers so many variables and options that it's often difficult to keep them straight. There are books that provide all the information you need to compare mortgages and find a home loan that's right for you.

The interest rate is important, but there are other costs to consider, such as discount points and even the type of mortgage loan. When shopping for best rates, compare combinations of discount points and loan types.

    Lenders are more likely to look favorably on an applicant who has been in the same (or similar) line of work for generally two or more years. If you have been working steadily for less than two or more years, expect the lender to ask why. There are many acceptable reasons, including:

·                    You recently finished school, vocational training, or left the military;

·                    Your work is typically seasonal and gaps in employment are customary to the industry You may have been laid off from your job;

·                    Frequent employment changes are normal in your line of work (sales, contract work, etc.), but you have been consistently employed and maintained a consistent level of income over the past 2 years.

For example, if your best guess is that you'll live in the house for eight years before moving, compare the total fees and monthly payments that you would make under three or four different loan deals. Ask yourself how much it would cost to pay zero discount points and get a higher interest rate compared to paying discount points in exchange for lower rates? You might quickly rule out some options, but at least you considered them. Bankrate.com's mortgage calculators will help you compare.

HOW TO MANAGE YOUR STUDENT LOAN

MANAGING YOUR STUDENT LOAN

A college education may be the most important investment in a child's life and has become one of the most costly, too. The publicly reported tuition charged by private colleges and universities for the 2007-2008 can reach $50,000 a year. The trends are alarming, too. And while tuition at public universities is generally lower, costs there have been growing even more steeply in recent years as government support has lagged.

 Governments don’t charge interest on student loans for full-time or part-time students while they are in-study. Interest starts to accumulate beginning the month after you graduate or leave school (or in the case of loans for full-time studies, if you switch from full-time to part-time), but payments begin six months later.

·You can start making loan payments while you are still in school. These payments go directly toward the loan principal, which will reduce the overall amount more quickly.

·        Keep track of who issues you the money—they are the ones you will need to pay back once you have finished school.

·        Ask for help at the first sign of difficulty in paying back your loans. Contact the NSLSC if you have any questions.

·  Learn more about the interest rates for Canada Student Loans.

·  It’s a good idea to keep a file of all of the documents you used in your student loan application, including a working copy of your application.

·  Create an online student loan account with the NSLSC. You can access information about your loans, change your mailing address and view other personal account information.

·  Include your loan account number on all correspondence with the NSLSC.

First, check to see if you have any federal loans, like Staffords. Even if they came through a private lender, you can consolidate them through the Federal Direct Consolidation Loan program, which offers different repayment schedules that are meant to help you take control of your debt.

But with $100,000 in debt, you probably have some private loans in your portfolio, too. And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis.

BEFORE YOU APPLY FOR A STUDENT LOAN.

The cost of going to college is getting more expensive each year and many young adults are taking out student loans to pay for their education.  Before you sign any papers for a student loan, here are some quick tips to keep in mind Federal student loans are made directly to the students. They are given to supplement the student’s personal and family resources. A federal student loan can be subsidized or unsubsidized depending on the financial need of the students. Both subsidized and unsubsidized loans are guaranteed by the United States Department of Education either directly or through guarantee agencies. Nearly all students are eligible for federal student loans which have grace period of six months. Subsidized federal student loans are given to students who have to prove their financial need for the loans. While in an unsubsidized student loan, the government does not pay the interest amount on the loan. The interest is allowed to accrue during the college and the student must pay after completion of studies.

Most people's first major loan is their student loan and they usually have little or no credit established yet.  This means that the rates you would get for the loan are higher than for a person with a good credit rating.  One way to get a better rate on your student loan is to find a cosigner with a good credit rating (such as a parent or close relative).  A cosigner shares responsibility for the loan with you, and both of your credit histories will be impacted.  Please keep in mind that your cosigner is responsible to pay the debt if you fail to pay the loan.

Shop around and compare loan features.  
If you need to take out a private loan, compare agreements offered by lenders to see which one best fits your needs.  Questions to ask include:

• What is the interest rate?
• How often will the interest rate change?
• When do repayments begin?

Congress sets the maximum interest that a lender can charge on federal loans, and most lenders do charge the maximum. Currently the maximum interest rate on new Perkins loans is 5 percent; on Stafford loans, it is 6.8 percent (but 6 percent for subsidized Stafford loans, on which the government pays the interest); and on PLUS loans, borrowers pay 7.9 percent if they borrow through the direct loan program and up to 8.5 percent if they borrow from a bank or other, non-governmental lender. Students should check these rates because they do change. The Education Department currently posts the maximum rates.

The government also imposes limits on how much money students may borrow under each type of loan program. As of July 1, 2008, the typical dependent Stafford borrower can take out $5,500 in the first year of college, $6,500 the second year and $7,500 in later years. The maximum amount an undergraduate can borrow through the Stafford loan program is $31,000.

In the wake of all the negative attention to financial aid offices this year, students might well be nervous about relying on advice they get from their colleges or about borrowing from a company on a college's list of "preferred" or "recommended" lenders.

While it is certainly the case that this year investigators for Congress and various state attorneys general uncovered questionable relationships between lenders and both colleges and individual financial aid administrators, students should still start with their financial aid offices. Many of these arrangements have since ended.

ADVANTAGES OF A PAYDAY LOAN ONLINE

Payday loans have many advantages. While there are inherent risks to this type of loan, just like any other, these risks can be easily avoided. Act responsibly as you pursue this type of debt. In the event of an emergency, you need options that will help you get by until your next paycheck. Cash advance loans can be the lifeline you need. Just count on us as the place where you can get the best payday loan.Come with us while we show you the advantages of a payday loan online,which you can never get elsewhere

1. Easy Applications
One of the most appealing factors to getting a payday loan is that the application process is short and easy. Due to the lack of a credit check, lenders only need to verify your identity and have you fill out a form or two as part of the application process. Application requirements are quite straightforward, and include providing information such as:

• Proof of age (applicants must be 21 or older)
• Proof of income to cover repaying the debt
• Photo identification

When applying for a payday advance online, depending on the lender, you will need to fax proof of the information you submit in your application. In most cases, you will only need to fill out the forms provided online and your approval will follow shortly thereafter.

2. Fast Approval
Most individuals are able to complete an online application and have cash deposited in their bank account in as little as an hour. These types of fast loans gain significant appeal simply because they operate differently than regular banks. When faced with an emergency, you can’t wait the week it would take to apply for a personal loan. Payday loans put cash in your hands when you can’t afford to wait. Once you've completed the application, you will be notified promptly as to whether you have been accepted for a loan.

3. Maintains Credit Rating
When you have poor credit and are unable to get personal loans elsewhere, you can still get a payday advance. Payday lenders specialize in bad-credit lending, which means that they do not look at your credit history to determine your eligibility. Payday loans do not generally show up on your credit history unless you fail to pay them back. So long as you make sure you have the funds necessary to repay the loan, your credit score will not be negatively affected.

4. Unsecured Loans
Collateral is not necessary for payday loans. You will be taking on unsecured debt and entering into an agreement with the lender that you will repay the debt in full by a set date. You won’t have to offer up your car title, house or jewelry to get a loan. The lending agency will take you at your word that the loan will be repaid.

5. Short Payment Terms
While some would consider this more of a downside,but with us, the short-term options mean that you won’t be sitting around paying this loan off for long. When your next emergency happens and you need to take out another loan, you’re less likely to still be paying off the last one. Loan terms for cash advances can range from a week to a month, though you can extend the period for an additional fee. While it is inconvenient to have to pay off a loan so quickly, you’ll be thankful for it when you don’t have to keep setting aside money from each paycheck for months on end.