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Perkins Student Loan

Ricardo Said:

Will having a lot of student loans (stafford and perkins) make it difficult to get a home loan?

We Answered:

Get letters from the school about how long your deferrment is good for. These letters are the ONLY way to not count those loan payments against your income (lowering the purchase price you can qualify for).

Also, FHA is the ONLY lender who will allow for the deferrment (FNMA/FHLMC will include an estimated payment against your income).

And... FHA is also the only way to get to 100% financing (required 3% down can be from seller's equity if you negotiate it in your contract).

Get with a mortgage professional with your paystubs/w-2s/bank statements and get a real LSR for your realtor to take with them in making offers!

Best of luck!

Lynn Said:

Which student loan is better the Perkins loan or the Stafford loan?

We Answered:

what i would do is take a look at here you will find all your loans needs includng other options for student loans.

Bradley Said:

Cost of attendance required to get a private student loan?

We Answered:

Private loans that require school certification take into consideration the cost of attendance less all other aid.

The cost of attendance estimate the school uses in certifying these loans includes an estimate for tuition, fees, books, supplies, personal/misc and room and board.

Be warned: private loans have high interest rates, are not tax deductible, require a cosigner, do not have any of the forgiveness provisions federal student and parent loans offer and require a credit check. They should be used only in extreme circumstances.

Stacy Said:

How can I get a Student Loan with no credit and no cosigner?

We Answered:

Holy wow - you go to an expensive school. First of all, make sure your fin. aid conselor gave you the full amount for subsidized and un-subsidized loans. Ask about Pell Grants and any other grants (state grants?) and work study. You're probably going to need to apply with a private institution for a loan and some will give you a loan with no credit. If you have a bank, go talk to a loan officer. Bank of America offers several private education loans and you don't have to have a local branch - you can apply online. Here's the website for you with the different loans listed:ā€¦

Good luck to you!

Lauren Said:

I defaulted on a perkins student loan. Will I still get a tax rebate?

We Answered:

If the default is duly noted with FMS, then the rebate will go to the loan (as it should).

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You can take loans if necessary because it is not something which you can not take and use. But you need to think about it before you go.