I am about to purchase a home and is getting a loan to pay for a portion of the house. I want to choose an interest rate that is fair for my parents as well as myself. Given the current banking interest rates, what would be a fair interest rate to set for a loan from my parents?|||If you were to get a home loan without them, depending on your credit rating %26amp; all, you could get a 5-6 interest rate.
If your parents were to put their money in a normal savings account, they could get 1-2 interest rate. (more if they were to put their money in investing where they could not touch it)
I would say that a fair rate for both of you would be between 3-4 because it is in the middle.|||Joanna, that isn't something you have a lot of control over. When getting a mortgage, the lender takes into account your whole financial picture and then fit's that into a loan program. If you have very good credit, then you could get a better rate. Do you homework, check several different lenders, both national and local/regional type banks, even your credit union. You can shop for a good deal that is your only control.|||Federal Parent Plus Loans are quite simple - they are loans which are supported by the federal government. With Parent Plus Loans, parents are able to loan money in order to pay education costs of their children who are still dependent (undergraduate students only). This type of loan is generally given out depending on the credit of the parent. As for the interest rate, it is fixed, and after the second loan, repayment must start.
The requirements for a Federal Parent Plus loan is quite simple. Firstly, you must have very good credit, or else you are automatically not eligible. The student must also be in university or college half of the time. Some schools require students applying for a Federal Parent Plus Loan to fill out a FAFSA form. Although, this is only required by some schools, and not by others. You can ask the financial office of the university to find out. Lastly, the student must be a citizen of the US or a permanent resident. Those from Samoa and/or Swains Island are also eligible.
There are quite a few benefits as for this type of loan. For starters, the parent is obviously getting a fair bit of money to help their child enroll in higher education. Secondly, this type of loan as a set interest rate, meaning it cannot exceed it. This set interest rate is 8.5% -- which was applied in 2006. There is also zero collateral required. Another great aspect of this type of loan is that one cannot be rejected for having a very high income. This loan is solely rewarded based on your credit. The funds do not only have to be for tuition - they can be for food, housing, textbooks, and so on.|||Hi, my name is amanda fisher, i was in serious
need of financial aid due to the current global
financial melt down finding such was very
difficult. i was so desperate even to the extent
that i got scammed to the tune of eight thousand
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But God finally came to my rescue when i came
across Mr William Smith who eventually secured
for me the loan that i have so desperately
wanted. You can reach him via email on
williamsmith.loansupport@gmail.com
AND PLEASE TELL HIM THAT AMANDA FISHER FROM CANADA REFER YOU TO HIM
N.B; Please be careful while searching for
financial assistance because there are
fraudsters surfing the internet looking for
people to swindle of their hard earned money|||Applying for home loans requires you to compare the offers available from different lenders so that you can have the best deal on home loans. With the loan market being flooded with offers, you can always choose to compare the home loan interest-rates online. Lenders have provision of online calculators and quotes on their websites, which help customers in getting to know the interest-rate that would be applicable if they apply for a home loan.
http://www.quickloans.we.bs/|||Applying for home loans requires you to compare the offers available from different lenders so that you can have the best deal on home loans. With the loan market being flooded with offers, you can always choose to compare the home loan interest-rates online. Lenders have provision of online calculators and quotes on their websites, which help customers in getting to know the interest-rate that would be applicable if they apply for a home loan.
http://www.quickloans.we.bs/|||Good day,
I am Mr. Donald George Managing Director of Donald Micro Finance Inc. My company is a well recognized Company with Government Approve certificate. We offer loan to interested individuals and company who are in need of financial help or assistant with a very low percent interest rate. My company grants loan to individual/company from the range of $2,000 USD to $5,000,000 USD. My company only give out loan to trust worthy clients who will be able to pay back the loan when due for repayment. Any interested person who are in financial difficulty and need a loan should please contact us through email: donald_microfinance@yahoo.com with the following details below:
Full Name:
Amount Needed:
Country:
Duration/Period:
Mobile Number:
Age:
Sex:
Purpose for loan:
NOTE: Loan is given to clients who are trust worthy that will be able to pay back the loan for security reasons,
You can write to us with the email above, Mr. Donald George,|||Mike Loan Company.
No 10 Lucky Way, Benin City, Edo State,
Tel Num: +234-805-919-8058,
Fax Num:+234-591-805-98,
Email:cmikeloan@yahoo.com
Hello,
Regarding your question, we are a fully registered and certified loan agency based in Nigeria that offers loan and other kind of financial services, at 2% low interest rate, within a maximum of 2 working days which is 48 hours, to all genuinely interested and serious individuals across the globe.
Note: Even if your bank have refused to grant you a loan because of your low credit score, we are willing to help you as long as you are in agreement to our terms and conditions. Come and get a very genuine loan, from a very genuine and reliable source, and put a final stop to all your financial needs.
If interested in our financial services, you are to contact us via e-mail:cmikeloan@yahoo.com and get back to us with the loan amount needed, loan duration period, country, state, annual income,age and sex.
And you will forever remain glad you did.
Mode of Payment:
* Payment by bank to bank transfer
* Payment by bank certified check(courier)
* Western Union Money Transfer
* Money Gram
**************************************鈥?br>
Mr. Mike Williams
Loan Managing Director
cmikeloans.copyright 漏 2010 ALL RIGHT RESERVED|||Good day,
It is a pleasure to write to you in respect of giving out loans by mail advert.My name is Mr Mogan Brutus,I am a private lender and a legitimate and government approved lender, I operate under a short, clear and understandable terms and conditions i give out loans at a low interest rate of 2%. Dear readers should note that this offer is for serious minded individual, firms and companies.Do not let this opportunity pass you by if you are in need of loan.get your loan to solve your financial problems like Pay off bills,Personal loan,establishing new businesses, re-establishing old business. interested individuals, firms and companies should please contact me via this email address moganbrutusloancompany@yahoo.com If you are interested in my loan fill and return this form back immediately.
YOUR PERSONAL INFORMATIONS
Your names:_______________
Your Sex:________________
Your country:_______________
Your address:_________________
Your occupation:_________________
Your marital status:_________________
Current Status at place of work:____________
Mobile number:________________
Monthly Income:______________
Loan Amount Needed:______________
Loan Duration:_____________________
Zip/Postal Code:____________________
Purpose of Loan:_____________
After sending the above requirement. You will be given the loan terms and condition which will serve as an agreement between the borrower and the lender ok? So just reply urgently so that we can proceed further with this transaction.
Best Regards
C.E.O./MOGAN BRUTUS LOAN COMPANY
moganbrutusloancompany@yahoo.com
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