Get an Auto Loan the Smart Way
by: Anthony Finlay
Did you know that most people pay hundreds or thousands of dollars more on auto loans than they have to? Get an auto loan the smart way. Read on.
Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans can run into a thousand dollars or more? Here’s how you can get the lowest rate:
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Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
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Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.
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Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won’t help, online "bad credit auto loan" lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.
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Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a "reality check" of your financial condition.
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Comparison shop, comparison shop, comparison shop. You don’t get the least expensive car by choosing a dealer at random, and you won’t get the least expensive auto loan that way, either.
Monday, March 26, 2007
Lease or buy car
Used Car Loans
by: Llewellyn Whitaker
Want to buy a used car but just don't have the funds sat in your bank account? If so, why not consider taking out one of the many used car loans available on the loans market.
Used car loans are specifically designed by loans companies to provide used car buyers with a competitive finance arrangement through which to purchase a used car. Flexible loans terms are available from used car loans companies, as well as low APR deals suitable for used car purchases. Used car loans of up to £20,000 can be arranged on an unsecured basis, with loans companies offering higher loans amounts if security is supplied.
Advance plan your used car loans
When buying a used car it pays to do some advance planning and arrange your used car loan ahead of the search for a used car. There are many loans companies out there offering loans for used car purchases, so it makes sense to shop around to get the best loans deals for buying a used car. Look for car loans that are flexible to your needs and offer a low APR, so your monthly used car repayments on any loans taken out won't be sky-high.
As with all types of loans, you should first determine how much you can afford to borrow on loans to buy a used car. Loans calculators are available on the Internet and can be used to calculate loan and repayment amounts in accordance with different APRs. It is important to take into account other financial commitments too, including other loans, when calculating the loans amount that you can comfortably borrow to purchase a used car.
If you intend to buy your used car from a used car trader where they offer car loans / finance for their used cars, then do make sure that the loans deal you sign up to is better than the loans deal that the used car trader can offer. The APR rate is the critical thing here. On car loans tailored for used car purchases the APR rate - i.e. the rate of interest you'll pay on top of the used car purchase price - can be as low as 6%. Finance loans deals through used car traders may have a higher APR, so pushing the total cost of buying a used car up to an unacceptable price.
One final thought. When negotiating the price of a used car with a trader, they may accept your lower offer providing that you take up one of their loans to finance the used car purchase. If this is an option then do check the terms and conditions of their loans carefully, paying special attention to the loans APR rate, as the savings from your negotiation on your used car may not be as attractive as first imagined when you consider the final costs attached to their loans!
by: Llewellyn Whitaker
Want to buy a used car but just don't have the funds sat in your bank account? If so, why not consider taking out one of the many used car loans available on the loans market.
Used car loans are specifically designed by loans companies to provide used car buyers with a competitive finance arrangement through which to purchase a used car. Flexible loans terms are available from used car loans companies, as well as low APR deals suitable for used car purchases. Used car loans of up to £20,000 can be arranged on an unsecured basis, with loans companies offering higher loans amounts if security is supplied.
Advance plan your used car loans
When buying a used car it pays to do some advance planning and arrange your used car loan ahead of the search for a used car. There are many loans companies out there offering loans for used car purchases, so it makes sense to shop around to get the best loans deals for buying a used car. Look for car loans that are flexible to your needs and offer a low APR, so your monthly used car repayments on any loans taken out won't be sky-high.
As with all types of loans, you should first determine how much you can afford to borrow on loans to buy a used car. Loans calculators are available on the Internet and can be used to calculate loan and repayment amounts in accordance with different APRs. It is important to take into account other financial commitments too, including other loans, when calculating the loans amount that you can comfortably borrow to purchase a used car.
If you intend to buy your used car from a used car trader where they offer car loans / finance for their used cars, then do make sure that the loans deal you sign up to is better than the loans deal that the used car trader can offer. The APR rate is the critical thing here. On car loans tailored for used car purchases the APR rate - i.e. the rate of interest you'll pay on top of the used car purchase price - can be as low as 6%. Finance loans deals through used car traders may have a higher APR, so pushing the total cost of buying a used car up to an unacceptable price.
One final thought. When negotiating the price of a used car with a trader, they may accept your lower offer providing that you take up one of their loans to finance the used car purchase. If this is an option then do check the terms and conditions of their loans carefully, paying special attention to the loans APR rate, as the savings from your negotiation on your used car may not be as attractive as first imagined when you consider the final costs attached to their loans!
Home equity line of credit
Home Equity Loans ... Wise or Unwise?
by: David Greene
Home Equity Loans
Over the past few years many Americans have established lines of credit secured by the equity in their homes. For marginal borrowers this can turn out to be highly risky as it exposes these families to the loss of their homes. Lenders tend to quickly change colors from friend to foe in times of financial crisis and need and will "take it away if you can't pay".
Prior to mortgaging or refinancing a home one should consider what the families finances would look like if one or more of the family members living in the home lost their job or came down with a serious illness.
How long could you keep the home payments current if there was an unfortunate loss of family income?
In spite of the dangers of refinancing or taking out a home equity loan there are times when it may in fact be wise. Perhaps credit card debt has gotten out of hand. You can get a home equity loan at much lower rates, pay off the credir card debt, and lower your monthly payments, perhaps as much as by 50%.
A word of warning, however. You must not run up your credit card balances once again or you will end up in even worse financial shape than you were to begin with. It would be far safer to avoid temptation by cutting up your credit cards and using a debit card instead.
There are other occassions when a home equity loan may be justified. Perhaps you wish to start your own business and are willing and able to take the risk that things may not work out as you plan. Your home equity will likely be the cheapest source of start up capital around.
Perhaps you wish to purchase an existing business, one that should earn you a good income for a long time to come. Again your cheapest source of capital would likely be a home equity loan.
In general, one should consider a home equity loan when the loan proceeds are used to very likely improve ones financial position. This would be a wise use of the loan proceeds.
One should use extreme caution in using a home equity loan to purchase additional consumer goods, say a large expensive flat screen TV set or a new SUV. The worst example of the use of a home equity loan that I know of was a couple who took out a loan in order to go to the Superbowl. Just think of how much that Superbowl trip will really cost over the years as interest payments are added in. What a terrible short sighted financial decision.
My advice. Use a home equity loan only to improve your financial position or to raise funds in a true emergency situation. Using a home equity loan to purchase things that will only lose value is a misuse of the loan proceeds that could cost you what is probably your most useful and valuable possession ... your home.
About the author:
David is a full time Internet business developer who maintains an office in Bradenton, Fl. but who spends most of his time in the Land of Smiles, the Kingdom of Thailand.
His latest Internet project is http://www.smartloanshop.com
by: David Greene
Home Equity Loans
Over the past few years many Americans have established lines of credit secured by the equity in their homes. For marginal borrowers this can turn out to be highly risky as it exposes these families to the loss of their homes. Lenders tend to quickly change colors from friend to foe in times of financial crisis and need and will "take it away if you can't pay".
Prior to mortgaging or refinancing a home one should consider what the families finances would look like if one or more of the family members living in the home lost their job or came down with a serious illness.
How long could you keep the home payments current if there was an unfortunate loss of family income?
In spite of the dangers of refinancing or taking out a home equity loan there are times when it may in fact be wise. Perhaps credit card debt has gotten out of hand. You can get a home equity loan at much lower rates, pay off the credir card debt, and lower your monthly payments, perhaps as much as by 50%.
A word of warning, however. You must not run up your credit card balances once again or you will end up in even worse financial shape than you were to begin with. It would be far safer to avoid temptation by cutting up your credit cards and using a debit card instead.
There are other occassions when a home equity loan may be justified. Perhaps you wish to start your own business and are willing and able to take the risk that things may not work out as you plan. Your home equity will likely be the cheapest source of start up capital around.
Perhaps you wish to purchase an existing business, one that should earn you a good income for a long time to come. Again your cheapest source of capital would likely be a home equity loan.
In general, one should consider a home equity loan when the loan proceeds are used to very likely improve ones financial position. This would be a wise use of the loan proceeds.
One should use extreme caution in using a home equity loan to purchase additional consumer goods, say a large expensive flat screen TV set or a new SUV. The worst example of the use of a home equity loan that I know of was a couple who took out a loan in order to go to the Superbowl. Just think of how much that Superbowl trip will really cost over the years as interest payments are added in. What a terrible short sighted financial decision.
My advice. Use a home equity loan only to improve your financial position or to raise funds in a true emergency situation. Using a home equity loan to purchase things that will only lose value is a misuse of the loan proceeds that could cost you what is probably your most useful and valuable possession ... your home.
About the author:
David is a full time Internet business developer who maintains an office in Bradenton, Fl. but who spends most of his time in the Land of Smiles, the Kingdom of Thailand.
His latest Internet project is http://www.smartloanshop.com
Monday, December 04, 2006
Credit cards,mortgages and loans calculators
At these days more and more people need help in dealing with home finances and for that reason free information can be useful.
There is new website on the internet credit cards mortgages loans calculators
Site is divided into following sections:
Loans
- Loan payment calculation
- Payment amortization
- Inflation calculator
- Present value calculator
- Future value calculator
- Rate calculation
Mortgages
- Home equity line of credit calculator
- Maximum mortgage calculator
- Mortgage amortization
- Escrow account cancellation
- Mortgage payment calculator
- Mortgage points comparator
- Mortgage refinance calculator
- Mortgage tax saving calculator
Credit cards
- Pay off calculator
- Real cost calculator
- Cash advance cost calculator
Planning
- College cost calculator
- College saving calculator
- Retirement planner
- Rent versus buy house calculator
- Lease or buy car
You can use free online credit cards, mortgage and loan calculators
There is new website on the internet credit cards mortgages loans calculators
Site is divided into following sections:
Loans
- Loan payment calculation
- Payment amortization
- Inflation calculator
- Present value calculator
- Future value calculator
- Rate calculation
Mortgages
- Home equity line of credit calculator
- Maximum mortgage calculator
- Mortgage amortization
- Escrow account cancellation
- Mortgage payment calculator
- Mortgage points comparator
- Mortgage refinance calculator
- Mortgage tax saving calculator
Credit cards
- Pay off calculator
- Real cost calculator
- Cash advance cost calculator
Planning
- College cost calculator
- College saving calculator
- Retirement planner
- Rent versus buy house calculator
- Lease or buy car
You can use free online credit cards, mortgage and loan calculators
Monday, November 13, 2006
Home mortgage loan
If you're considering a mortgage loan, you might be wondering what options are available. Today, there are many options besides the conventional methods of obtaining a mortgage. Whether you're applying for a home loan for a new home, a refinance loan, an equity loan, a HELOC, or a reverse loan, you should be aware of what each loan entails.
Buying a New Home
When buying a new home, you'll need to be approved for a new home loan through a lender, or ask the seller to finance the home for you. Before applying at a lending institution, research your options. Determine how much "house" you can afford. Use online mortgage payment calculators to figure what the payments would be for different home loan amounts. Then, you'll know what price range you can shop within, and whether or not you can afford the payments. Remember, your income/debt ratio must fit within the lender's guidelines to qualify for a conventional loan.
Healthy and "Not-so-healthy" Credit Scores
If you have an excellent credit score, then your income/debt ratio along with the investment capital you have available will be the main factors in determining home loan availability. However, if there are flaws in your credit history due to non-payment or repossession, you will be limited in the type of home loan you can obtain. But don't lose heart. Many homebuyers whose credit is "not-so-great" do qualify for non-prime loans. Non-prime loans can be a bit higher-priced than prime loans or have higher interest, but you might still be able to buy your dream home!
Creative Financing
Don't settle for conventional loans if you don't have to. There are many creative ways to finance a new home loan. If you do not have the needed investment capital or a down payment, some lenders will finance the down payment for you as well as the closing costs. If not, the seller might be willing to finance part of the loan to cover these costs. This can work even if the seller doesn't have extra "money to lend!"
Explain to the seller that it could be advantageous to him because of income taxes. He might much rather claim an income of $100,000 than $120,000! Spreading out payments for $20,000 of the loan amount over a period of five or ten years could make a huge difference on his taxes due for that year. Consult with an accountant to find out if this could work in your situation.
Unusual Types of Home Loans
If you're worried about budgeting with a new home loan payment each month, try a FlexPay loan where several monthly payment options are available to you every month. These options include interest only payments, full-amortized payments, and minimum payments. There are also bi-weekly mortgages for paying more toward your premium each year through a bi-weekly payment schedule.
Hard Money loans are also available when there is a large amount of equity built up in a home. The loan approval is based more on the home or property's value than the borrower's credit history or job/salary history.
Refinance Loans
If you plan to refinance your home, there are several options. A refinance means you are re-evaluating the terms, payments and interest of your loan. You might refinance to simply get the interest rate or payment lowered. Or, you might want to keep a little cash out for yourself as well. This is called "Cash-out" refinancing. Cash-out loans are made when you want to refinance your home for more than is owed on it. For instance, you owe $60,000, but want to refinance for $80,000. You'll pocket the additional $20,000 to use for home repairs, remodeling or whatever else!
Reverse loans are available for those over 62 years of age who own their home free and clear or have much equity built into it. They can receive a monthly payment, a lump sum or a line of credit. This does not have to be repaid until the borrower moves or passes away. Then, the estate can be sold to pay the note.
Another option for leveraging your home equity is to create a HELOC (home equity line of credit) that is secured by the equity in your home. HELOCs can be used to pay debts, make purchases, or anything else. Be aware, however, that the interest rate can fluctuate monthly.
Now that you are armed with many options for obtaining a home loan or refinancing your mortgage, check with an online lender to find out what plan will work best for you. Use the available tools and calculators to do some budgeting on your own as well. You'll be moving in that new dream home in no time!
Text is written by Chris Robertson http://www.1stepfunding.com/
Basics of Home finance Loans and mortgage
Three pieces of knowledge for obtaining and maintaining a home finance loan include the application, rates, and repayment habits.
1) Home Loan Application Process - Filling out home loan applications
2) Rates Change - Keep an eye on home loan rates for major changes, particularly changes of the downward version. Refinancing is inexpensive in comparison to the amount of money you can save if you obtain the right low interest home loan. Developing a good relationship with your mortgage broker may result in him or her calling you when the rates drop!
3) On Time Payments - There is nothing that can hurt or help your credit rating more than your payment habits on your home loan. Make payments on time and your credit score will raise quickly. Alternatively, pay late and you'll do long term damage that is difficult to repair.
Quick Home Mortgages Online - Safe
Why should you shop for home mortgages online?
1) Obtain mortgage quotes from a reputable lender and your information will be secure. Don't check with every no-name mortgage company online, stick with names you can trust, as their online security will be top notch.
2) Fast Processing - Mortgage companies who operate online aren't bound by the same home loan processes as large local banks, and can process applications faster.
3) Low Rates - With so many lenders from which to choose from, online mortgage brokers and home loan specialists are bound to find a program that's right for your budget and home loan needs.
How to Compare Various Home Loans
You've heard the saying "You can't compare apples to oranges", right? When you're shopping for a home loan, you need to make comparisons among the same types of loans. When you compare a 30 year fixed home loan with 7% interest to an adjustable rate mortgage with 3.2% interest, you're comparing apples to oranges- unless you know the specifics to each type of loan.
1)Loan Term - The term of a loan is the length of time you will be repaying on the loan Many mortgages are 30 year terms, but some are shorter, 10, 15, and 20 year terms are common. The longer the term of your loan, the lower you pay each month, but the higher you'll pay in interest!
2)Interest Rate - An adjustable interest rate is one that can change from time to time, while a fixed rate interest means it remains the same for the entire term of your loan. To compare a fixed rate with an ARM loan, use an online mortgage calculator (they're free!) to compare your future payments as well as current payments.
3) Closing Costs - There are many things that are factored into closing costs, including lenders, closing agents and attorneys. Choose a lender with the fewest junk fees or a lender that pays for your closing costs out of their revenues.
Home Mortgage Prepayment
It's not often that people stay in their home for thirty years. A thirty year mortgage probably seems like forever to most borrowers! Since no one would want to pay a mortgage forever, there are a few tricks that can save you a lot of money:
1)Make use of free home mortgage loans calculators online to see how much of a difference one or two extra payments on your mortgage will make on your amortization schedule. Sometimes, as little as $20 extra on each payment can reduce the term of your loan a year or more! Many people never actually take advantage of paying one additional payment per year in order to shorten their 30 year mortgage term by up to ten years- because they have not educated themselves on prepayment.
2) You can shorten your mortgage term by up to 20 years if you're able to make double payments. While it may seem that you should only be able to reduce your mortgage payment in half by doubling your payments, the fact is the extra payment goes towards the principal and saves you interest, so it reduces the amount owed much faster than if you only send the minimum payment each month.
Consolidating Home Loans to Save Money
If you have a refinance loan and your original home loan, you may want to consolidate them into a single loan. This may sound complicated, but should be a painless process for you.
Find all of your current home loan information, including account numbers, bank name, initial loan amount, date of the loan, and any other documents you've obtained through the loan processes. Find out how much equity you have in your home, to determine whether or not refinancing and consolidating your second mortgage is feasible. Finally, go to your mortgage specialist to get a more specific and accurate portrayal of the options that are available to you.
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Tuesday, October 31, 2006
Repair Your Credit With Bad Credit Auto Loans!
A good way of avoiding this problem is to save enough money for a down payment prior to applying for a car loan, this will reduce the monthly payment s amount and will also reduce the risk implied for the lender which will provide you with a lower interest rate bad credit loan. Putting money down is not strictly necessary but it sure helps approval and repayment
Take Advantage of Bad Credit Auto Loans
Remember that bad credit auto loans high interest rate is not meant as some sort of punishment but is the consequence of having bad credit and thus representing a higher credit risk. However, it is possible to use bad credit auto loans to your advantage if you proceed carefully. Bad credit auto loans are your opportunity to re-establish good credit by making sure to pay every single installment on time
Unsecured Auto Loans
Unsecured Auto loans can be obtained but only in certain situations it makes sense to apply for unsecured loans given that you can use the very same car you are buying as collateral for the loan. What makes unsecured auto loans different from a regular auto loan is the higher interest rate you will be charged. Unless you need the car to work and you fear that by risking repossession you risk your job and your income, you should go for secured loans.
Bad Credit Auto Loans
Bad credit auto loans always have a much higher rate than regular auto loans. Making payments on time is of major importance for a regular auto loan to ensure your credit remains good. In the case of bad credit auto loans, even the slightest delay in payment has to be avoided if you intend to use the loan to help rebuild your credit.
This way, bad credit auto loans offer you a second chance. Not only will you be able to purchase a car but you are also given a fair chance of rebuilding your credit score. However, if you are not careful enough it could turn out to be a means of making your bad credit even worse. Therefore, once you succeed in securing a bad credit auto loan you need to take extra care and precaution to make sure each and every payment is made and made on time.
If a bad credit auto loan is going to rebuild and repair the damage to your credit, it is definitely to your advantage. If you succeed in meeting every single loan installment on time you will have no problems recovering your ability to get finance at more reasonable terms. It sure bothers to pay such high interest rates now, but it is an excellent way for not having to face them later on.
Sarah Dinkins is an Expert Loan Consultant in the financial industry that helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and other types of loans and financial products. At http://www.badcreditfinancialexperts.com/article/ she is continually adding new finance articles useful for those in need of professional advice.
Article Source: http://EzineArticles.com/?expert=Sarah_Dinkins
Take Advantage of Bad Credit Auto Loans
Remember that bad credit auto loans high interest rate is not meant as some sort of punishment but is the consequence of having bad credit and thus representing a higher credit risk. However, it is possible to use bad credit auto loans to your advantage if you proceed carefully. Bad credit auto loans are your opportunity to re-establish good credit by making sure to pay every single installment on time
Unsecured Auto Loans
Unsecured Auto loans can be obtained but only in certain situations it makes sense to apply for unsecured loans given that you can use the very same car you are buying as collateral for the loan. What makes unsecured auto loans different from a regular auto loan is the higher interest rate you will be charged. Unless you need the car to work and you fear that by risking repossession you risk your job and your income, you should go for secured loans.
Bad Credit Auto Loans
Bad credit auto loans always have a much higher rate than regular auto loans. Making payments on time is of major importance for a regular auto loan to ensure your credit remains good. In the case of bad credit auto loans, even the slightest delay in payment has to be avoided if you intend to use the loan to help rebuild your credit.
This way, bad credit auto loans offer you a second chance. Not only will you be able to purchase a car but you are also given a fair chance of rebuilding your credit score. However, if you are not careful enough it could turn out to be a means of making your bad credit even worse. Therefore, once you succeed in securing a bad credit auto loan you need to take extra care and precaution to make sure each and every payment is made and made on time.
If a bad credit auto loan is going to rebuild and repair the damage to your credit, it is definitely to your advantage. If you succeed in meeting every single loan installment on time you will have no problems recovering your ability to get finance at more reasonable terms. It sure bothers to pay such high interest rates now, but it is an excellent way for not having to face them later on.
Sarah Dinkins is an Expert Loan Consultant in the financial industry that helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and other types of loans and financial products. At http://www.badcreditfinancialexperts.com/article/ she is continually adding new finance articles useful for those in need of professional advice.
Article Source: http://EzineArticles.com/?expert=Sarah_Dinkins
Friday, October 27, 2006
consolidation debt loan student
Many times, the accumulation of large debt is almost impossible to avoid. Such is the case with student loans Student loans are a concept created from a need by young people wanting to get a college education but without the available funds. The idea was that once a student graduated and became actively employed, he or she could then pay off the student loan. But student loans are just as burdensome as any other loan and in some cases students have several loans taken out in order to pay for college. This is where student loan debt consolidation comes in with a plan of consolidating all of an individual's student loans into one manageable loan to pay off. You need to get your facts before you apply for one of these consolidation loans. You need to determine obvious things like the interest rate and the term and come to an understanding of what this loan is not as well as what it is. Only certain types of loans can be consolidated under this type of loans and you will need to check but for the most part the loans that can be consolidated are those that were realized in the course of getting an education. This means you cannot include loans such as credit cards, loans from family members, or automobile loans in the student loan consolidation.
The obvious benefits to consolidating a student loan are that there will be a single payment, probably a lower payment, and one fixed interest rate. The fixed interest rate is especially attractive because this helps a person set up a budget easier. Of course the drawback to a fixed interest rate in this type of loan is that you may not be able to take advantage of future drops in interest rates if they occur.
Another drawback to student loan debt consolidation is the length of the term. It could be that you end up paying this loan longer than you would have otherwise and in the end pay more total interest. So be careful to get all of the data about your student loan debt consolidation loan before you sign the agreement.
Of course the student loan debt consolidation market is very competitive and there are all sorts of programs to choose from. Some of these programs offer very low interest rates. Check out the program you are dealing with and be especially certain that you find out if there are any add on fees for the loan. Student debt consolidation loans are guaranteed by the government so there should not be any fees. This is because the lenders get subsidies from the federal government for taking the risk on these types of loans. Also try to find out how the customer service is with the agency you are getting this type of consolidation loan from.
Finally, you need to determine if consolidation is really for you before doing it. It may be that you want to pay off the loan faster as student debt consolidation loans tend to stretch out longer. But for most it is an attractive way to get your payments down and manage your student loan debt.
About the Author
by Terence Young
For more resources on managing your debt visit: http://www.debtconsolidatecenter.com/
The obvious benefits to consolidating a student loan are that there will be a single payment, probably a lower payment, and one fixed interest rate. The fixed interest rate is especially attractive because this helps a person set up a budget easier. Of course the drawback to a fixed interest rate in this type of loan is that you may not be able to take advantage of future drops in interest rates if they occur.
Another drawback to student loan debt consolidation is the length of the term. It could be that you end up paying this loan longer than you would have otherwise and in the end pay more total interest. So be careful to get all of the data about your student loan debt consolidation loan before you sign the agreement.
Of course the student loan debt consolidation market is very competitive and there are all sorts of programs to choose from. Some of these programs offer very low interest rates. Check out the program you are dealing with and be especially certain that you find out if there are any add on fees for the loan. Student debt consolidation loans are guaranteed by the government so there should not be any fees. This is because the lenders get subsidies from the federal government for taking the risk on these types of loans. Also try to find out how the customer service is with the agency you are getting this type of consolidation loan from.
Finally, you need to determine if consolidation is really for you before doing it. It may be that you want to pay off the loan faster as student debt consolidation loans tend to stretch out longer. But for most it is an attractive way to get your payments down and manage your student loan debt.
About the Author
by Terence Young
For more resources on managing your debt visit: http://www.debtconsolidatecenter.com/
What is work study program
The work-study program is a student aid program that is funded by the federal government. The federal work-study program provides jobs for college student as a way for them to make money to pay for the education expenses.
These students are placed, if possible, in jobs that are related to their field of study. When I was involved in the program, most of the work-study jobs were on campus and were the type of jobs where you were able to study while you were working, making it a win-win situation for both the employee and the employer.
You will be paid at least the state minimum wage and sometimes more depending on the job. Keep in mind this is a government funding award and when you reach the amount you were awarded, you will be done working. The amount you are awarded depends on when you apply, your school s funding level and your need.
You must be paid a minimum of once a month and you can be paid either hourly or a salary depending on the type of job you are holding. Your income will be paid directly to you unless you specify otherwise.
You can be employed either off campus or on campus, although the biggest majority of the work-study jobs are positions offered through the university. Work-study jobs are also available through public agencies and private nonprofit organizations. Most off campus jobs are community based jobs. Your school may have agreements with other private for profit companies, but most of these jobs will be positions that are going to be in your chosen field of study.
One of the benefits of working through the federal work-study program is your work hours are scheduled around your class schedule and other school activities and your hours are usually part time to allow you time to complete studies outside of class work.
The federal work-study program is a great way to make some extra money for school. This program is normally used in conjunction with other programs for funding your education. The work-study program is never going to be enough to put you through school without additional funding.The work-study program will give you a good start towards your education and it will also give you a chance to see what it is like being out in the work force and it will give you a head start gaining work experience that you will need after you graduate.
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Marjorie Salada is the owner of a website that conatins information on www.student-loans1.com/direct_student_loans.html>direct student loans, alternative student loans and student loan consolidation.
These students are placed, if possible, in jobs that are related to their field of study. When I was involved in the program, most of the work-study jobs were on campus and were the type of jobs where you were able to study while you were working, making it a win-win situation for both the employee and the employer.
You will be paid at least the state minimum wage and sometimes more depending on the job. Keep in mind this is a government funding award and when you reach the amount you were awarded, you will be done working. The amount you are awarded depends on when you apply, your school s funding level and your need.
You must be paid a minimum of once a month and you can be paid either hourly or a salary depending on the type of job you are holding. Your income will be paid directly to you unless you specify otherwise.
You can be employed either off campus or on campus, although the biggest majority of the work-study jobs are positions offered through the university. Work-study jobs are also available through public agencies and private nonprofit organizations. Most off campus jobs are community based jobs. Your school may have agreements with other private for profit companies, but most of these jobs will be positions that are going to be in your chosen field of study.
One of the benefits of working through the federal work-study program is your work hours are scheduled around your class schedule and other school activities and your hours are usually part time to allow you time to complete studies outside of class work.
The federal work-study program is a great way to make some extra money for school. This program is normally used in conjunction with other programs for funding your education. The work-study program is never going to be enough to put you through school without additional funding.The work-study program will give you a good start towards your education and it will also give you a chance to see what it is like being out in the work force and it will give you a head start gaining work experience that you will need after you graduate.
Article Directory: http://www.articledashboard.com
Marjorie Salada is the owner of a website that conatins information on www.student-loans1.com/direct_student_loans.html>direct student loans, alternative student loans and student loan consolidation.
Wednesday, October 25, 2006
Mortgage rate refinancing
Do you know what to look for when gathering mortgage refinance information? Fast turn-around times, excellent customer service, and reliable interest rates and fees top the list of what's important to many people. But when you're busy searching local lending institutions and internet websites for mortgage refinance information, it's not always possible to know if you're going to get what you're promised until you are deep into the process
That's why you need to work with a refinance company with a proven track record; one that pays attention to your needs and that won't give you the run-around. To increase your chances of finding such a refinancing company, it's a good idea to be prepared
Why are you refinancing
Everyone has a different reason for refinancing. The majority choose to refinance their mortgages because it's a way of securing more favorable mortgage terms. Lowering an interest rate even by one point can save thousands of dollars in interest over the life of the loan. And so can refinancing into a shorter term mortgage, such as from a 30-year fixed down to a 10- or even 15-year fixed mortgage
Those with significant debt turn to home equity loans and mortgage refinancing as a low-cost way to pay off debt. Known also as a debt consolidation loan, it makes repaying debt more manageable and less stressful.
Right now, what's driving much of the mortgage refinancing business is that many adjustable rate mortgages are entering an adjustment phase. Over the last 5 years, many homebuyers opted for potentially riskier types of home loans designed more for the short-term such as adjustable rate mortgages and interest-only options. Holders of these mortgages are finding themselves in precarious financial predicaments now that the red-hot housing market is cooling and it's no longer a sellers' market.
Unable to sell those homes and unload those riskier mortgages, borrowers are finding that their monthly mortgage payments are about to increase by several hundreds of dollars or more now that interest rates are beginning to adjust. They need to refinance now but with home prices in the midst of the "correction" stage, many borrowers have less equity in their homes, making home mortgage refinancing an even trickier process
Determine whether mortgage refinancing is the right move
Refinancing your home mortgage loan involves many of the same steps you took when you sought financing the first time around. Only this time, it should be a bit easier because you've got some experience under your belt. Even so, when you're refinancing a home mortgage loan, it's going to be more important than ever to pay close attention to the mortgage refinance information you get from each prospective refinancing specialist. You've got to run the numbers to ensure the costs of refinancing don't outweigh the benefits
It'll definitely be to your advantage to check around to see which refinancing company is offering the best deals. And as with the first time around, be sure to get all the mortgage refinance information you are quoted in writing!
About the Author
Day Refi
Refinance Your Home
That's why you need to work with a refinance company with a proven track record; one that pays attention to your needs and that won't give you the run-around. To increase your chances of finding such a refinancing company, it's a good idea to be prepared
Why are you refinancing
Everyone has a different reason for refinancing. The majority choose to refinance their mortgages because it's a way of securing more favorable mortgage terms. Lowering an interest rate even by one point can save thousands of dollars in interest over the life of the loan. And so can refinancing into a shorter term mortgage, such as from a 30-year fixed down to a 10- or even 15-year fixed mortgage
Those with significant debt turn to home equity loans and mortgage refinancing as a low-cost way to pay off debt. Known also as a debt consolidation loan, it makes repaying debt more manageable and less stressful.
Right now, what's driving much of the mortgage refinancing business is that many adjustable rate mortgages are entering an adjustment phase. Over the last 5 years, many homebuyers opted for potentially riskier types of home loans designed more for the short-term such as adjustable rate mortgages and interest-only options. Holders of these mortgages are finding themselves in precarious financial predicaments now that the red-hot housing market is cooling and it's no longer a sellers' market.
Unable to sell those homes and unload those riskier mortgages, borrowers are finding that their monthly mortgage payments are about to increase by several hundreds of dollars or more now that interest rates are beginning to adjust. They need to refinance now but with home prices in the midst of the "correction" stage, many borrowers have less equity in their homes, making home mortgage refinancing an even trickier process
Determine whether mortgage refinancing is the right move
Refinancing your home mortgage loan involves many of the same steps you took when you sought financing the first time around. Only this time, it should be a bit easier because you've got some experience under your belt. Even so, when you're refinancing a home mortgage loan, it's going to be more important than ever to pay close attention to the mortgage refinance information you get from each prospective refinancing specialist. You've got to run the numbers to ensure the costs of refinancing don't outweigh the benefits
It'll definitely be to your advantage to check around to see which refinancing company is offering the best deals. And as with the first time around, be sure to get all the mortgage refinance information you are quoted in writing!
About the Author
Day Refi
Refinance Your Home
Second mortgage and home equity loan
If you are looking to take advantage of the money accrued in your home, 2nd mortgage home equity loans are worth looking into. You can use the equity in your home to do some home improvements, take a vacation, or pay off some of your other debts. Getting a 2nd mortgage home equity loan can be a great way to get a little extra breathing space financially, and take advantage of your most valuable asset.
What is equity?
Simply, equity is the amount of ownership you have in your home. When you first get a loan, the lender basically owns the house. As you make payments, and as your home increases in market value, you start to own more and more of your home, and the bank owns less and less of it. The amount that would be left if you were to pay off your mortgage home loan today is the equity. 2nd mortgage home equity loans are a way to take advantage of the cash value you have built up in your home.
Using the money from 2nd mortgage home equity loans
There are many things that you can use the money for when you take advantage of a 2nd mortgage home equity loan. This is because the money that results from such a loan is yours. Here are some things that many people use the money for:
· Home improvements. Many people make expensive repairs and upgrades with the money from a 2nd mortgage home equity loan. Home improvements add to the home's value, and can increase the amount of equity in the home.
· Vacations. Some people make it a point to go on vacation when they have equity built up. This is because many people feel that they deserve a nice break after working so hard. Using the money for a vacation can be a rewarding experience in some cases
Consolidating debt. If you have a great deal of consumer debt, especially credit cards and medical bills, 2nd mortgage home equity loans can help you pay them off. You can consolidate your debt into a single, lower monthly payments and interest rate. Plus, most home equity loan interest payments are tax deductible!
About the Author
by L. Sampson
Visit Home Equity Wise for more ways to use a 2nd Mortgage Home Equity Loan.
What is equity?
Simply, equity is the amount of ownership you have in your home. When you first get a loan, the lender basically owns the house. As you make payments, and as your home increases in market value, you start to own more and more of your home, and the bank owns less and less of it. The amount that would be left if you were to pay off your mortgage home loan today is the equity. 2nd mortgage home equity loans are a way to take advantage of the cash value you have built up in your home.
Using the money from 2nd mortgage home equity loans
There are many things that you can use the money for when you take advantage of a 2nd mortgage home equity loan. This is because the money that results from such a loan is yours. Here are some things that many people use the money for:
· Home improvements. Many people make expensive repairs and upgrades with the money from a 2nd mortgage home equity loan. Home improvements add to the home's value, and can increase the amount of equity in the home.
· Vacations. Some people make it a point to go on vacation when they have equity built up. This is because many people feel that they deserve a nice break after working so hard. Using the money for a vacation can be a rewarding experience in some cases
Consolidating debt. If you have a great deal of consumer debt, especially credit cards and medical bills, 2nd mortgage home equity loans can help you pay them off. You can consolidate your debt into a single, lower monthly payments and interest rate. Plus, most home equity loan interest payments are tax deductible!
About the Author
by L. Sampson
Visit Home Equity Wise for more ways to use a 2nd Mortgage Home Equity Loan.
Home equity line of credit vs. traditional second mortgage loans
If you are thinking about a home equity line of credit, you might also want to consider a traditional second mortgage loan. A second mortgage provides you with a fixed amount of money repayable over a fixed period. In most cases the payment schedule calls for equal payments that will pay off the entire loan within the loan period. You might consider a second mortgage instead of a home equity line if, for example, you need a set amount for a specific purpose, such as an addition to your home.
In deciding which type of loan best suits your needs, consider the costs under the two alternatives. Look at both the APR and other charges. Do not, however, simply compare the APRs, because the APRs on the two types of loans are figured differently:
The APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges.
The APR for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges
In deciding which type of loan best suits your needs, consider the costs under the two alternatives. Look at both the APR and other charges. Do not, however, simply compare the APRs, because the APRs on the two types of loans are figured differently:
The APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges.
The APR for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges
Home equity lines of credit
More and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please, at an interest rate that is relatively low.
Furthermore, under the tax law--depending on your specific situation--you may be allowed to deduct the interest because the debt is secured by your home
What is a home equity line of credit?
A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer’s largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses.
With a home equity line, you will be approved for a specific amount of credit--your credit limit, the maximum amount you may borrow at any one time under the plan. Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the home’s appraised value and subtracting from that the balance owed on the existing mortgage
For example:
Appraised value of home $100,000
Percentage x 75%
Percentage of appraised value = $ 75,000
Less balance owed on mortgage - $ 40,000
Potential credit = $ 35,000
In determining your actual credit limit, the lender will also consider your ability to repay, by looking at your income, debts, and other financial obligations as well as your credit history
Many home equity plans set a fixed period during which you can borrow money, such as 10 years. At the end of this "draw period," you may be allowed to renew the credit line. If your plan does not allow renewals, you will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period (the "repayment period"), for example, 10 years.
Once approved for a home equity line of credit, you will most likely be able to borrow up to your credit limit whenever you want. Typically, you will use special checks to draw on your line. Under some plans, borrowers can use a credit card or other means to draw on the line.
There may be limitations on how you use the line. Some plans may require you to borrow a minimum amount each time you draw on the line (for example, $300) and to keep a minimum amount outstanding. Some plans may also require that you take an initial advance when the line is set up.
Furthermore, under the tax law--depending on your specific situation--you may be allowed to deduct the interest because the debt is secured by your home
What is a home equity line of credit?
A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer’s largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses.
With a home equity line, you will be approved for a specific amount of credit--your credit limit, the maximum amount you may borrow at any one time under the plan. Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the home’s appraised value and subtracting from that the balance owed on the existing mortgage
For example:
Appraised value of home $100,000
Percentage x 75%
Percentage of appraised value = $ 75,000
Less balance owed on mortgage - $ 40,000
Potential credit = $ 35,000
In determining your actual credit limit, the lender will also consider your ability to repay, by looking at your income, debts, and other financial obligations as well as your credit history
Many home equity plans set a fixed period during which you can borrow money, such as 10 years. At the end of this "draw period," you may be allowed to renew the credit line. If your plan does not allow renewals, you will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period (the "repayment period"), for example, 10 years.
Once approved for a home equity line of credit, you will most likely be able to borrow up to your credit limit whenever you want. Typically, you will use special checks to draw on your line. Under some plans, borrowers can use a credit card or other means to draw on the line.
There may be limitations on how you use the line. Some plans may require you to borrow a minimum amount each time you draw on the line (for example, $300) and to keep a minimum amount outstanding. Some plans may also require that you take an initial advance when the line is set up.
Tuesday, October 24, 2006
Do You Know What Credit Scores Mean?
Many people wonder what credit scores mean and why they are important.
In fact, your credit score is much more important than a simple number and has the power to impact all areas of your financial life.
Without a proper credit score, you may not be able to get a home loan, car loan, student loan, business loan, or personal loan.
The lack of loans can put you in a sticky situation and may be the culprit of your blocked dreams to own a home, start a business, or earn your degree.
Furthermore, just as your credit score has the power to affect all aspects of your financial life, your credit score is impacted by all aspects of your financial life. Everything from how many credit cards you have in your name to how often you pay your utility bills on time is reported on your credit score.
For this reason, anyone should learn exactly what credit scores mean and their potential impact on any financial situation.
The first step in determining what credit scores mean is to take a long look at your own credit score. This is a number that is assigned to each and every individual by a financial institution.
Since anyone applying for a loan is considered to be a liability to the creditor, the credit score tells the financial institution the degree of liability. Individuals with good credit are capable of receiving loans and opening credit cards without trouble.
These individuals have proved themselves responsible by paying their bills on time and using their credit responsibly.
Although the exact formula that is used to calculate the credit score is kept a secret, there are certain known factors that are taken into account in order to determine the specific number.
These factors include
- the number of credit cards that you have in your name,
- the balance of those credit cards,
- the number of late fees that you have accrued on all accounts from utilities to loans to credit cards,
- and even the number of times that you request your credit report.
The range of a credit score is between 300 and 850, with 850 being the highest possible score and the best possible credit.
Individuals with good credit typically have scores that fall between 660 and 850. The median credit score for the United States is around 725.
If you find yourself to have a low credit score, know that there are options available to begin the process of repairing your credit. The best way to restore your credit is to pay off all outstanding bills on time.
If your debt proves to be outstanding, you may want to look into the services of a debt consolidation service.
These services work to combine all of your debts into one loan on which you can pay regularly until the entire debt is relieved.
Many individuals find that a debt consolidator is beneficial since the interest rates and fees may be lower than paying off individual credit cards or loans.
Get the online credit score details or an online credit report that you need by clicking over to Mike Herman's site http://www.How-Is-Your-Credit.info
Article Source: http://EzineArticles.com/?expert=Mike_Herman
In fact, your credit score is much more important than a simple number and has the power to impact all areas of your financial life.
Without a proper credit score, you may not be able to get a home loan, car loan, student loan, business loan, or personal loan.
The lack of loans can put you in a sticky situation and may be the culprit of your blocked dreams to own a home, start a business, or earn your degree.
Furthermore, just as your credit score has the power to affect all aspects of your financial life, your credit score is impacted by all aspects of your financial life. Everything from how many credit cards you have in your name to how often you pay your utility bills on time is reported on your credit score.
For this reason, anyone should learn exactly what credit scores mean and their potential impact on any financial situation.
The first step in determining what credit scores mean is to take a long look at your own credit score. This is a number that is assigned to each and every individual by a financial institution.
Since anyone applying for a loan is considered to be a liability to the creditor, the credit score tells the financial institution the degree of liability. Individuals with good credit are capable of receiving loans and opening credit cards without trouble.
These individuals have proved themselves responsible by paying their bills on time and using their credit responsibly.
Although the exact formula that is used to calculate the credit score is kept a secret, there are certain known factors that are taken into account in order to determine the specific number.
These factors include
- the number of credit cards that you have in your name,
- the balance of those credit cards,
- the number of late fees that you have accrued on all accounts from utilities to loans to credit cards,
- and even the number of times that you request your credit report.
The range of a credit score is between 300 and 850, with 850 being the highest possible score and the best possible credit.
Individuals with good credit typically have scores that fall between 660 and 850. The median credit score for the United States is around 725.
If you find yourself to have a low credit score, know that there are options available to begin the process of repairing your credit. The best way to restore your credit is to pay off all outstanding bills on time.
If your debt proves to be outstanding, you may want to look into the services of a debt consolidation service.
These services work to combine all of your debts into one loan on which you can pay regularly until the entire debt is relieved.
Many individuals find that a debt consolidator is beneficial since the interest rates and fees may be lower than paying off individual credit cards or loans.
Get the online credit score details or an online credit report that you need by clicking over to Mike Herman's site http://www.How-Is-Your-Credit.info
Article Source: http://EzineArticles.com/?expert=Mike_Herman
Consolidation interest loan rate student
NextStudent's Student Loan Consolidation Program Helps Lower Payments as Much as 60%
Monthly student loan payments can be lowered as much as 60 percent with federal student loan consolidation. When coupled with aggressive benefits and incentives, student loan borrowers can receive a rate as low as 4.5 percent, according to NextStudent, the Phoenix-based premier education funding company.
Student loan consolidation (http://www.nextstudent.com) through NextStudent is easy. The application process is hassle-free, and students are able to apply directly online. The process is quick and entails a four-step, all-digital application with Electronic Signature. No credit check is required, and students do not need a co-signer. In addition, students who apply do not need to know the information about their current student loans.
Consolidation Makes Payments More Manageable
Through student loan consolidation, student borrowers' student loans (http://www.nextstudent.com) are combined into one, making payment easier to manage. Student borrowers are left with one monthly student loan bill. By lowering monthly student loan payments, borrowers are able to save and put extra cash away for other pertinent purchases in their lives. With federal student loan consolidation there is no prepayment penalty, no fees, and no charges.
Eligibility
In order to qualify for federal student loan consolidation (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp) students must meet certain requirements:
* Students cannot be enrolled in school more than half time. * Students must be in repayment or in a loan grace period (usually six months after leaving school). * Students must not have previously consolidated their loans.
There are different repayment plans with federal student loan consolidation. Repayment may be as long as 30 years and depends on the balance of the borrower. A few of the options are graduated and income-sensitive repayment, and there also are deferment and forbearance benefits.
Great Benefits, Incentives
NextStudent's Federal Student Loan Consolidation Program's benefits and incentives include:
* An additional savings of .60 percent for borrowers who immediately consolidate their loans after graduation or during other eligible grace periods * A savings of .25 percent when student borrowers repay through Auto-Debit * An added rate reduction of 1 percent - that is locked for the life of the loan -following the first 36 consecutive on-time payments, OR a 2 percent interest rate reduction following 48 consecutive months of on-time payments
Student loan borrowers receive a great deal when they consolidate their federal student loans through NextStudent. The company's benefits and incentives are aggressive and cannot be beat. When student borrowers combine their outstanding student loans (http://www.nextstudent.com/student-loans/student-loans.asp), they make their lives more manageable. Instead of stressing over multiple high interest rate loans, students can rest easy knowing they only have one payment that also saves them money in the long term.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding as easy as possible. Learn more about Student Loans at http://www.nextstudent.com/.
About the Author
Jeff Mictabor is an enthusiast on the topic of student loan issues in the news. He has been writing for the past 10 years for a variety of education publications. He now offers his writing services on a freelance basis.
http://www.nextstudent.com
Monthly student loan payments can be lowered as much as 60 percent with federal student loan consolidation. When coupled with aggressive benefits and incentives, student loan borrowers can receive a rate as low as 4.5 percent, according to NextStudent, the Phoenix-based premier education funding company.
Student loan consolidation (http://www.nextstudent.com) through NextStudent is easy. The application process is hassle-free, and students are able to apply directly online. The process is quick and entails a four-step, all-digital application with Electronic Signature. No credit check is required, and students do not need a co-signer. In addition, students who apply do not need to know the information about their current student loans.
Consolidation Makes Payments More Manageable
Through student loan consolidation, student borrowers' student loans (http://www.nextstudent.com) are combined into one, making payment easier to manage. Student borrowers are left with one monthly student loan bill. By lowering monthly student loan payments, borrowers are able to save and put extra cash away for other pertinent purchases in their lives. With federal student loan consolidation there is no prepayment penalty, no fees, and no charges.
Eligibility
In order to qualify for federal student loan consolidation (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp) students must meet certain requirements:
* Students cannot be enrolled in school more than half time. * Students must be in repayment or in a loan grace period (usually six months after leaving school). * Students must not have previously consolidated their loans.
There are different repayment plans with federal student loan consolidation. Repayment may be as long as 30 years and depends on the balance of the borrower. A few of the options are graduated and income-sensitive repayment, and there also are deferment and forbearance benefits.
Great Benefits, Incentives
NextStudent's Federal Student Loan Consolidation Program's benefits and incentives include:
* An additional savings of .60 percent for borrowers who immediately consolidate their loans after graduation or during other eligible grace periods * A savings of .25 percent when student borrowers repay through Auto-Debit * An added rate reduction of 1 percent - that is locked for the life of the loan -following the first 36 consecutive on-time payments, OR a 2 percent interest rate reduction following 48 consecutive months of on-time payments
Student loan borrowers receive a great deal when they consolidate their federal student loans through NextStudent. The company's benefits and incentives are aggressive and cannot be beat. When student borrowers combine their outstanding student loans (http://www.nextstudent.com/student-loans/student-loans.asp), they make their lives more manageable. Instead of stressing over multiple high interest rate loans, students can rest easy knowing they only have one payment that also saves them money in the long term.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding as easy as possible. Learn more about Student Loans at http://www.nextstudent.com/.
About the Author
Jeff Mictabor is an enthusiast on the topic of student loan issues in the news. He has been writing for the past 10 years for a variety of education publications. He now offers his writing services on a freelance basis.
http://www.nextstudent.com
Consolidation federal loan student
Don t miss the Opportunity. Grab it, exploit it! Money matters a lot. Consolidating student loans can relief you from your nightmare. It can simplify your student life and can make you fulfill your ambition. With consolidated student loan your multiple payments can be consolidated to only one payment. You can pay less per month and for a longer period.
How To Get It Done?
You are assumed to have many outstanding loans with variable interest rates. In a consolidation process, defaulted student loans in which all volatile interest rates become a single fixed rate for the entire period of the loan. Student loan consolidation rate is an average interest rate calculated for flexible loan rates. Normally, repayment period can go up to 30 years, depending the amount you owe. Before finalizing any deal, you must know the details. What are the loans you are eligible for consolidation? Here are some tips. You can consolidate the following outstanding loans:
1. Subsidized federal student loans.
2. Unsubsidized federal student loans.
3. All federal direct lending student loans.
4. Federally insured loans for students.
5. Students loan for health education assistance.
6. Private Student loan taken from any authorized financial institution.
7. Federal supplementary loans for students.
8. Federal nursing student loan.
This list is not at all exhaustive. Many other types of student loans can also be consolidated. The financial institutions can verify eligibility criteria for consolidation of loans. Know your eligibility!
1. If you are in a grace period, forbearance or deferment on all loans are being consolidated.
2. If your repayment arrangements are satisfactory with your defaulted loan holder.
3. You have to agree with an income sensitive repayment schedule on consolidation of your loans.
Your Hurdle Is Over!
Don t worry. You may not be eligible for your private college loans consolidation, but your basic problem is solved. While making the deal you just have to certify that you do not have another federal loan consolidation application pending. And of course, your current lender does not have the provision of loan consolidation.
We offer the leading private student loan source. Check it out on the Student loan consolidation rate guide. Find more students loan info on http://www.leandernet.com/
Article Source: http://EzineArticles.com/?expert=Oliver_Turner
How To Get It Done?
You are assumed to have many outstanding loans with variable interest rates. In a consolidation process, defaulted student loans in which all volatile interest rates become a single fixed rate for the entire period of the loan. Student loan consolidation rate is an average interest rate calculated for flexible loan rates. Normally, repayment period can go up to 30 years, depending the amount you owe. Before finalizing any deal, you must know the details. What are the loans you are eligible for consolidation? Here are some tips. You can consolidate the following outstanding loans:
1. Subsidized federal student loans.
2. Unsubsidized federal student loans.
3. All federal direct lending student loans.
4. Federally insured loans for students.
5. Students loan for health education assistance.
6. Private Student loan taken from any authorized financial institution.
7. Federal supplementary loans for students.
8. Federal nursing student loan.
This list is not at all exhaustive. Many other types of student loans can also be consolidated. The financial institutions can verify eligibility criteria for consolidation of loans. Know your eligibility!
1. If you are in a grace period, forbearance or deferment on all loans are being consolidated.
2. If your repayment arrangements are satisfactory with your defaulted loan holder.
3. You have to agree with an income sensitive repayment schedule on consolidation of your loans.
Your Hurdle Is Over!
Don t worry. You may not be eligible for your private college loans consolidation, but your basic problem is solved. While making the deal you just have to certify that you do not have another federal loan consolidation application pending. And of course, your current lender does not have the provision of loan consolidation.
We offer the leading private student loan source. Check it out on the Student loan consolidation rate guide. Find more students loan info on http://www.leandernet.com/
Article Source: http://EzineArticles.com/?expert=Oliver_Turner
School loan
College can be quite expensive, proving to be a major economic problem for struggling families. However, through the use of student loans, the playing field is somewhat leveled when it comes to aspiring for a higher education. In this article, we'll give you some tips about how to get your financial aid sorted out in the best way possible.
- The first thing that you should do when beginning your search for financial aid is to fill out a FAFSA form. Standing for Free Application for Federal Student Aid, this form can be a good starting point when it comes to realizing what types of aid are available for you.
- Another thing to consider is how you're going to handle the interest on your student loan. When you pay off your interest on a student loan, you're often entitled to a tax deduction. Be sure to check the details of your loan and consult an expert if necessary to determine the deductability of your payments.
- You may want to consider the amount of money that you have in your savings account. When figuring out exactly how much aid a student deserves, possible loaners consider 35 percent of a student's savings to be used towards college. Parents of the children have a mere 5.1 percent of their assets considered available for college funding, so you may want to transfer your funds in order to necessitate more aid.
- Be sure to determine exactly how your different types of aid will affect the others; sometimes, scholarships and other forms of aid can detract from the amount of the federal loan that you can receive. Be very cautious when it comes to accepting aid before you realize exactly what it will do to your entire aid situation.
- Be sure to apply at colleges as soon as possible. When you give them the opportunity to see that you are vying for attendance early, you run a better chance of receiving the scholarships and awards that the school has set aside for its students.
Now that you know a little more about how exactly the aid process works, you can better see how to use it to your advantage. The more that you know about the types of loans and offers that you are considering, the better you'll be able to make a decision that is cost-effective over the long term. Best of luck!
Kadence Buchanan writes articles on many topics including Education, Weather, and Tennis
Article Source: http://EzineArticles.com/?expert=Kadence_Buchanan
- The first thing that you should do when beginning your search for financial aid is to fill out a FAFSA form. Standing for Free Application for Federal Student Aid, this form can be a good starting point when it comes to realizing what types of aid are available for you.
- Another thing to consider is how you're going to handle the interest on your student loan. When you pay off your interest on a student loan, you're often entitled to a tax deduction. Be sure to check the details of your loan and consult an expert if necessary to determine the deductability of your payments.
- You may want to consider the amount of money that you have in your savings account. When figuring out exactly how much aid a student deserves, possible loaners consider 35 percent of a student's savings to be used towards college. Parents of the children have a mere 5.1 percent of their assets considered available for college funding, so you may want to transfer your funds in order to necessitate more aid.
- Be sure to determine exactly how your different types of aid will affect the others; sometimes, scholarships and other forms of aid can detract from the amount of the federal loan that you can receive. Be very cautious when it comes to accepting aid before you realize exactly what it will do to your entire aid situation.
- Be sure to apply at colleges as soon as possible. When you give them the opportunity to see that you are vying for attendance early, you run a better chance of receiving the scholarships and awards that the school has set aside for its students.
Now that you know a little more about how exactly the aid process works, you can better see how to use it to your advantage. The more that you know about the types of loans and offers that you are considering, the better you'll be able to make a decision that is cost-effective over the long term. Best of luck!
Kadence Buchanan writes articles on many topics including Education, Weather, and Tennis
Article Source: http://EzineArticles.com/?expert=Kadence_Buchanan
consolidation loan school
As with most debt, people are looking to simplify, simplify, simplify. This typically means combining debt to one low-interest payment. The answer for most college and postgraduate students is a student loan debt consolidation. The whole enterprise of student loan debt consolidation is wide and varied. A great many lending institutions, both private and federal, are out there waiting to lend a hand and a great deal of money.
When considering student loan debt consolidation, it would be wise to take it step by step. A very simple and useful first step would be in the direction of your college advisor's or financial aid administrator's office. You can begin the process by first finding out if student loan debt consolidation is in your best interest, and if so, where and how to start.
Qualifications for student loan debt consolidation must be the first consideration. There are some basic guidelines to follow:
1. Students NOT enrolled more than half-time, or students out of school for 3-6 months.
2. Students in grace period (up to 6 months after leaving school), or with existing loans in deferment or default status.
3. Students with no previous consolidation loans.
Of course, there are exceptions and instances where these general qualifications for student loan debt consolidation will not apply, especially in the case of some postgraduate programs.
When applying for a consolidation loan, another basic consideration is to weigh the differences between federal (a.k.a. direct) consolidation loans as opposed to private consolidation loans. These two types of student loan debt consolidation programs differ mainly in terms of interest rates and credit ratings.
Federal student loan debt consolidation requires that the applicant have at least one Direct or Federal loan outstanding, such as a Federal Family Education Loan (FFEL). Currently, the interest rate on federal loans is based on the average of the loans being consolidated. Once the interest rate is calculated it is fixed for the life of the loan.
Private student loan debt consolidation interest rates can range from the current prime lending rate to whatever the loan institution sees fit, based on credit rating. Those who apply for this kind of loan must have a good credit rating or provide a cosigner with one.
Student loan debt consolidation will take a degree (forgive the pun) of due diligence and patience to complete. But in some cases it may decrease your student loan payments up to half and simplify your life by even more. The length of consolidation loans can span from 10-25 years, with extended plans available from 15-30 years. On the bright side, the interest paid on most student loans and/or student loan debt consolidation is tax deductible.
In the "big picture" of life an education is a priceless commodity. Knowledge is power and with that power great things can be accomplished.
About the Author
Simon Rand is the pen name for a professional writer on many topics. His work includes book authorship, TV producer and independent writer for many national magazines.
http://student-loans.mustsee.info/
When considering student loan debt consolidation, it would be wise to take it step by step. A very simple and useful first step would be in the direction of your college advisor's or financial aid administrator's office. You can begin the process by first finding out if student loan debt consolidation is in your best interest, and if so, where and how to start.
Qualifications for student loan debt consolidation must be the first consideration. There are some basic guidelines to follow:
1. Students NOT enrolled more than half-time, or students out of school for 3-6 months.
2. Students in grace period (up to 6 months after leaving school), or with existing loans in deferment or default status.
3. Students with no previous consolidation loans.
Of course, there are exceptions and instances where these general qualifications for student loan debt consolidation will not apply, especially in the case of some postgraduate programs.
When applying for a consolidation loan, another basic consideration is to weigh the differences between federal (a.k.a. direct) consolidation loans as opposed to private consolidation loans. These two types of student loan debt consolidation programs differ mainly in terms of interest rates and credit ratings.
Federal student loan debt consolidation requires that the applicant have at least one Direct or Federal loan outstanding, such as a Federal Family Education Loan (FFEL). Currently, the interest rate on federal loans is based on the average of the loans being consolidated. Once the interest rate is calculated it is fixed for the life of the loan.
Private student loan debt consolidation interest rates can range from the current prime lending rate to whatever the loan institution sees fit, based on credit rating. Those who apply for this kind of loan must have a good credit rating or provide a cosigner with one.
Student loan debt consolidation will take a degree (forgive the pun) of due diligence and patience to complete. But in some cases it may decrease your student loan payments up to half and simplify your life by even more. The length of consolidation loans can span from 10-25 years, with extended plans available from 15-30 years. On the bright side, the interest paid on most student loans and/or student loan debt consolidation is tax deductible.
In the "big picture" of life an education is a priceless commodity. Knowledge is power and with that power great things can be accomplished.
About the Author
Simon Rand is the pen name for a professional writer on many topics. His work includes book authorship, TV producer and independent writer for many national magazines.
http://student-loans.mustsee.info/
Sunday, October 22, 2006
Five Tips to Slash Your Home Finance Costs
It’s no wonder that the majority of homeowners dream of one day being able to pay off their home loan and live a life free from the shackles of interest rates, home finance and worries about meeting the monthly mortgage payments because the largest expense the majority of us take on in a lifetime is our mortgage and each month our home finance payments take a substantial chunk out of our take home pay.
Just think what you could do with all the extra money you would have spare if you didn’t have to meet your mortgage each month! Interested? Well, here are five steps that you could take today to substantially slash your mortgage repayments and the overall cost of your home loan and even speed up your rate of repayment so that the day when you’ve paid off your home finance and are free to live the life you want comes that much sooner.
Step One – Demand Better Service!
As a loyal customer of your mortgage lender isn’t it about time you were rewarded for your financial commitment, for making your regular payments and for being a good, long term customer?
Well, you can rest assured your mortgage lender will not reward you unless you ask for a better deal on your mortgage!
So get on the phone, call up your lender, ask to speak to someone in customer services or the customer retention department and explain that you’re looking around for a better mortgage deal. Ask them for an evaluation of how much you have left to pay so that you can give it to any one of the hundreds of other mortgage lenders out there all willing to give you a better deal.
If you are indeed a valued customer you should receive favourable feedback to your demands and receive details of better offers currently available to you from your current lender.
Remember, if you don’t ask you don’t get and be adamant about what you want!
Step Two – Shop Around.
If step one doesn’t get you the deal you deserve, shop around. There really are well in excess of a hundred lenders out there all seeking new customers who will offer you incentives to take up their mortgage product.
Use the internet to get an idea of rates being offered and special deals available to you. Do remember that lenders will do everything they can to make their deal seem like the most attractive one available and do everything within their power to attract new customers so you need to be shrewd.
Look for any hidden charges or tie in clauses and make sure you evaluate products offered on a like for like basis taking into account all the features of the mortgage offers available.
Step Three – Call in the Cavalry.
Well, not the cavalry exactly but expert assistance in the form of a licensed and regulated fee free independent mortgage broker. In the UK these guys are now regulated by the Financial Services Authority and in the US they should come under the scope of The Responsible Lending Act.
As independent brokers they have access to and understanding of every single mortgage product available and they should be best placed to assist you find a better deal than the one you have now where your repayments will be less, your interest rate will be lower and the amount you repay over the entire duration of your loan is reduced.
Make sure your broker is fee free and remunerated by any company you decide to take a mortgage out with. More importantly than this, make sure they are regulated and licensed correctly and if possible ask for professional references or testimonials.
Step Four – Cut Out All Extras
Mortgage lenders are notorious for selling overpriced add-ons such as life insurance, home insurance, contents insurance, income protection cover…all these insurances have their value of course – but you can bet your bottom dollar that you can every last one of them for a fraction of the price by going directly to an independent insurance house or even seeking the services of an independent financial adviser to find you the best deal available.
You could literally save yourself thousands each year in insurance premiums!
Step Five – Throw Some Money at It
So, you’ve cut your interest rate down to size, reduced your monthly repayments, maybe received a cash lump sum from a new lender and saved yourself thousands on insurance products – now turn all those savings back into your mortgage and repay early.
Make sure you have it negotiated into your new mortgage contract that you can make early repayment or lump sum annual top ups and get rid of the millstone round your neck, free yourself from your largest financial commitment as soon as possible and save thousands in interest payments and enjoy freedom of life once again!
By Rhiannon Williamson
Rhiannon Williamson is a freelance writer whose articles about property investing and emerging real estate markets have appeared in publications around the world. She is currently working on a brand new property investment resource www.amberlamb.com/
Just think what you could do with all the extra money you would have spare if you didn’t have to meet your mortgage each month! Interested? Well, here are five steps that you could take today to substantially slash your mortgage repayments and the overall cost of your home loan and even speed up your rate of repayment so that the day when you’ve paid off your home finance and are free to live the life you want comes that much sooner.
Step One – Demand Better Service!
As a loyal customer of your mortgage lender isn’t it about time you were rewarded for your financial commitment, for making your regular payments and for being a good, long term customer?
Well, you can rest assured your mortgage lender will not reward you unless you ask for a better deal on your mortgage!
So get on the phone, call up your lender, ask to speak to someone in customer services or the customer retention department and explain that you’re looking around for a better mortgage deal. Ask them for an evaluation of how much you have left to pay so that you can give it to any one of the hundreds of other mortgage lenders out there all willing to give you a better deal.
If you are indeed a valued customer you should receive favourable feedback to your demands and receive details of better offers currently available to you from your current lender.
Remember, if you don’t ask you don’t get and be adamant about what you want!
Step Two – Shop Around.
If step one doesn’t get you the deal you deserve, shop around. There really are well in excess of a hundred lenders out there all seeking new customers who will offer you incentives to take up their mortgage product.
Use the internet to get an idea of rates being offered and special deals available to you. Do remember that lenders will do everything they can to make their deal seem like the most attractive one available and do everything within their power to attract new customers so you need to be shrewd.
Look for any hidden charges or tie in clauses and make sure you evaluate products offered on a like for like basis taking into account all the features of the mortgage offers available.
Step Three – Call in the Cavalry.
Well, not the cavalry exactly but expert assistance in the form of a licensed and regulated fee free independent mortgage broker. In the UK these guys are now regulated by the Financial Services Authority and in the US they should come under the scope of The Responsible Lending Act.
As independent brokers they have access to and understanding of every single mortgage product available and they should be best placed to assist you find a better deal than the one you have now where your repayments will be less, your interest rate will be lower and the amount you repay over the entire duration of your loan is reduced.
Make sure your broker is fee free and remunerated by any company you decide to take a mortgage out with. More importantly than this, make sure they are regulated and licensed correctly and if possible ask for professional references or testimonials.
Step Four – Cut Out All Extras
Mortgage lenders are notorious for selling overpriced add-ons such as life insurance, home insurance, contents insurance, income protection cover…all these insurances have their value of course – but you can bet your bottom dollar that you can every last one of them for a fraction of the price by going directly to an independent insurance house or even seeking the services of an independent financial adviser to find you the best deal available.
You could literally save yourself thousands each year in insurance premiums!
Step Five – Throw Some Money at It
So, you’ve cut your interest rate down to size, reduced your monthly repayments, maybe received a cash lump sum from a new lender and saved yourself thousands on insurance products – now turn all those savings back into your mortgage and repay early.
Make sure you have it negotiated into your new mortgage contract that you can make early repayment or lump sum annual top ups and get rid of the millstone round your neck, free yourself from your largest financial commitment as soon as possible and save thousands in interest payments and enjoy freedom of life once again!
By Rhiannon Williamson
Rhiannon Williamson is a freelance writer whose articles about property investing and emerging real estate markets have appeared in publications around the world. She is currently working on a brand new property investment resource www.amberlamb.com/
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