Source: Http:financeequityloans.comCategory: Student LoansArticle Body: Availing Of Student Loans Is Usually Consider As Easier Task Than Lots Of Effort Put In Taking Out Any Other Loan. This Is Mainly Because These Loans Are Associated With The Aim Of Providing Higher Education To The People For Finishing Collage Studies. Moreover, It Is Always A Government Policy To Relax Terms And Conditions For These Loans For Making Its Access Easier.Federal Loans Are Major Source Of The Loans For Students For Continuing Collage Studies. The Federal Loans Comprise Of Stafford Loans, Perkins Loans And PLUS Loans. These Loans Are Given To Only Those Collage-going People, Whose Family Is Unable To Support Them With Finances. So, First Of All Find Out If You Are Eligible For The Loan Or Not. In Case You Are Eligible, Then The Federal Loans Are Given To You Without Any Inquiries, Implying That The Approval Comes Even If You Have A Bad Credit History.One Of The Features Of These Loans Is That You Pay Minimum Interest On The Borrowed Amount. The Loan Amount Is Given On Yearly Basis And Increases Each Year. You Can Find These Loans In Subsidized Option, Under Which The Federal Government Bears The Interest Payments, Or You Can Get The Loan In Unsubsidized Option, If You Can Pay The Interest.The Federal Student Loans Can Be Returned Once You Have Finished Collage Studies And Have Started Earning Through A Regular Job. So, Repayment Is Usually Not A Burden. The PLUS Loans Are Given To The Parent On Behalf Of The Student.If You Do Not Qualify For The Federal Loans, Then Student Loans Can Be Availed From Private Lenders In Secured Or Unsecured Options. The Secured Loan Is Source Of Greater Amounts At Lower Rate Of Interest Against The Parent's Property. The Unsecured Loan Is Given Without Collateral At Little Higher Interest Rate On Smaller Amount That You Need To Repay In Short-term These Loans Can Also Be Borrowed Along With A Co-signers, Who Has A Good Credit Record. Compare Different Lenders For Finding A Suitable Deal For Your Circumstances.Title: College Parents Benefit From "Kiddie Condo Loans" Source: Http:financeequityloans.comCategory: Student LoansArticle Body: Despite Its Relative Obscurity, A Great Investment Tool For College Bound Students Is Growing In Popularity Among Savvy College Parents. The FHA Loan Program, Affectionately Nicknamed "Kiddie Condo Loans", Is One Of The Best Programs Out There To Help Jump Start A Student's Credit And Provide A Low Down Payment Option For Cash Strapped Parents To Purchase A Home For Their Son Or Daughter.For Details On The Loan Program, I Went To Steve Beecham, President Of Hometown Mortgage In Alpharetta, Georgia. Steve's Excitement Over The Program Is Evident As He Explains, "There Are Few Programs, If Any, Left In The Market Place Where A Co-signer Doesn't Have To Live In The Property." The Bottom Line Is A College Bound Student Can Qualify, With A Parent's Help, For As Little As 500 Down.The FHA Program Actually Requires Three Percent Down. However, That Three Percent Can Come As A Gift From Several Different Places, Such As:1. A Relative By Blood, Marriage, Or Law2. The Borrower's Employer3. A Charitable Organization4. The Seller (can Give Up To Six Percent)One Easy Source For The Funds Might Be The Nehemiah Down Payment Grant. This Is A Charitable Organization That Will Fund Up To Six Percent For The Purchase; Three Percent Of Which Can Be Used For The Down Payment And Three Percent Which Can Be Used For Closing Costs. Your Mortgage Lender Would Fill Out The Paperwork On Your Behalf. Six Percent Would Be Written Into The Purchase Price As A Contribution To Nehemiah. The Organization In Turn, At Closing, Gives All Of It Back To The Seller, Less A 500 Contribution From The Buyer. So, The Net Out Of Pocket From The Buyer Is The 500.Obviously, There Are Some Ground Rules For The Program, Some Of Which Are:1. At Least One Of The Buyers (usually The College Student), Must Occupy The Home. But Extra Bedrooms Can Be Rented Out To Help Defray The Costs Of The Mortgage. 2. Qualifying Guidelines Are Based On The Student's And The Parent's Credit And Income. Generally, Both Parties Must Have A Credit Score Of At Least 580. 3. If It Is A Condo, Then A Majority Of The Condos In The Complex Must Be Owner Occupied.Also, Don't Let The Nickname Fool You. This Program Can Be Used On Virtually Any Property, Not Just Condos. And, It Can Be Used Up To A Maximum Loan Amount Of 346,000 For Homes Inside Metro Atlanta.
