Breaking Down VA Home Loans and How They Can Help Your Family

There's a lot of misinformation out there about VA loans. You don't have to be buying your first home, you can use the benefit multiple times, and, according to the Department of Veterans Affairs, you don't even have to be active-duty military. 

Veterans, spouses of deceased veterans, and even long-time National Guard members are eligible for a VA loan. So what exactly can that loan do for your family that other mortgages can't?

Skip the PMI

Okay, you probably know that a VA loan can let you get a mortgage with no money down, but there are a number of other types of loan that will allow the purchase of a home for little or no cash up-front. 

The thing that sets the VA loan program apart is the fact that these other types of mortgages require something called Private Mortgage Insurance, or PMI, on every loan with a down payment of less than 20% of the loan amount. 

Since VA loans, including everything from Lending Tree VA loans to car and land loans, are guaranteed by the Department of Veterans Affairs, though, lenders don't need to worry about getting their money, so they can forego the insurance. This can cut hundreds of dollars off your monthly payment, freeing up cash for your family to use elsewhere.

Make Sure You're Getting a Quality Home

Inspections for a VA loans are notoriously stringent. That can be bad news for the seller, but it's good news for you. 

Unlike some other mortgage guarantors, the VA won't approve a loan on a house that has structural or safety issues like missing handrails, wood rot, or even fraying carpet in some cases. A bit finicky? Maybe, but it'll prevent your family from ending up in a home with hidden defects.

Speed Up Your Re-Fi

There's no need to worry about interest rates dropping after you get your VA loan. The VA's Interest Rate Reduction Refinance Loan, generally called the IRRRL or streamline loan, cuts out most of the time and hassle of a refinance by reusing most of the original paperwork from the home purchase. 

This can let you refinance your home in as few as 10 days with the help of companies like Low VA Rates with no appraisal fee and reduced underwriting costs.

Get a Bonus from the Seller

No, the seller won't be giving you cash directly, but under VA loan rules, the seller is responsible for miscellaneous expenses like broker fees and termite inspections that can really add up at closing time. 

It's also common for sellers to pay up to 4% of your closing costs under a VA loan, although the specifics of that will depend on what you and your agent negotiate.

With no money down, no extra costs, and some guidance toward getting a safe house, the VA loan is a no-brainer for anyone who fits the eligibility requirements. 

Keep it in mind to save you some money and give your family a little extra peace of mind when it comes time to buy your next home.

How to Find Out the Most Affordable Rented Home for You in Retirement

Getting a cheap and affordable rented home for you can be a tough job. Various things are required to be kept in mind while you are searching for rented places. 

If you are planning to go on rental home hunting then you should be prepared both mentally and physically because this is the most strenuous phase of getting an affordable rented home. 

Finding the right rented place and that too at the right time cannot be an easy task. You just need to make sure how much you can afford for the house for rent in Chennai and then you can search what kind of apartments can come within that range.

Steps to Be Followed

Affordability

Before even you start your search for the rented places make sure you have decided your budget. Because if you skip this part then you would utterly get confused and letting agents may take this advantage very badly. 

So first make your budget and then search. This will be easier for you to decide on what type of rents you would get. You can also hire a trustworthy letting agent from a renowned agency. With their professional approach you can easily get plenty of options.

Areal Proximity

If you want to cut down the cost then try and search outside the city or outside any urban locations. Rents in the outskirts are quite affordable and cheap as well. But you should also focus on the transport facilities if you are planning to take rent at the outskirts. 

Another option is to find a roommate. This will help you manage the money required for a rental accommodation in Chennai. This will lessen your financial pressures at the same time.

Contacting a letting agent

In this step you need to be very careful while selecting the letting agents as nowadays there are numerous agencies who claim to help you search cheap and affordable rents. So before you contact, make sure the agency and the letting agent is genuine and have a good record. 

With their professional approach they can easily find you a proper place for rent. They will also help you to determine your budget and within that stipulated amount of money they will provide you with plenty of options.

After all these steps you can finally settle down for one. Make sure you check the place before paying the money to the landlord. 

Follow these essential steps if you are searching for places on rent. These steps will help you give a clear cut idea and then you would not face any money problems. Getting a proper place on rent is a tough job. 

 Even of you do not want to hire a letting agent then you can easily search the internet where plenty of options are given on this issue. So basically you need to be aware of the market price and your budget.

How To Cut Down On The Cost Of Moving

When it's time to move, it can be an exciting time for those who are relocating or anyone who just purchased a new house. Unfortunately, the cost of moving can be expensive due to the materials and tools that are needed to transport everything. To reduce the cost of moving for a cheaper process, there are a few steps to follow. 

Sell Unused Items

One of the easiest ways to cut to the cost of moving is to sell or donate unused items that you no longer use. It's important to go through each room of the home and find clothes, toys, or books that don't need to be packed and transported to the new house if they're no longer needed. This will cut down on the cost of packaging materials and boxes.

Maximize Your Space

When packing your moving boxes, it's important to try and pack as much as possible in each box without weighing it down. Use clothes to protect valuables instead of using bubble wrap for an easy way of placing two different items in one box. 

You can also pack belongings in large items that you already own, which includes luggage, storage containers, or empty trunks. This will make it easier to transport less items and avoid having to use as many materials with the move. 

Ask for Boxes

Instead of spending hundreds of dollars on brand new boxes that you'll use once, ask around town for packaging boxes that are available for free. 

Many supermarkets, liquor stores, and businesses are happy to get rid of the cardboard boxes instead of throwing them in the dumpster. This will help to save money and can make the move more resourceful.

Hire a Moving Company

Hiring a moving company is a great way to save money and time. Homeowners can move out of their old home sooner, avoid paying rent or a mortgage on two properties during the move, and avoid breaking valuable items that are expensive to replace. 

Consider hiring a company like Wheaton World Wide Moving that can offer a hassle-free experience on moving.

When moving to a new location, it's important to put a good amount of preparation into planning the process. 

This will make it easier to prepare and save money on materials that you purchased ahead of time. You can also save more money by booking a moving company ahead of time instead of waiting until the last minute.

Your College Student: How to Help your Kids Financially through College

Going to college is a huge financial and time commitment. There are more students than ever before who are graduating with high levels of student loan debt. As the cost of college continues to rise, many students do not know how to get through college financially. 

The good news is that there are several steps that students can take in order to be prepared for college financially. Here are several ways that anyone can help their kids financially through college. 

Have a Plan

Understanding the financial implications of going to college is the first step in making a financial plan. Many students to attend a school because they like the football team or the look of the campus. 

Although these are not necessarily bad things, there are not criteria that should be used in selecting a college. Over the long term, it is much better to select a college for a strong alumni base or academic reputation. 

Students should have several colleges that they are interested in attending. By applying themselves in high school, students can earn a substantial amount of scholarship money to help pay for school. However, not all students can get scholarship money. 

Students should use their financial burden as one of the biggest factors in choosing a school. You may even consider as a parent in helping them out financially even if it means getting personal loans. Websites like sharemoney.com make it easy and convenient to send your college student money to help with their expenses. 

The average student today graduates with over $30,000 in student loan debt, which is the highest level in history.

Think Long Term

Students must learn to think long term when it comes to their finances. It may be easier to make a purchase on a credit card today, but eventually that debt will have to be paid with interest. 

In addition, it may seem easier to just pay for school with student loans. However, by working through school a student can have a much better chance of graduating in a solid financial position. 

By learning to think several years down the road, a student can drastically increase the chances of having financial success during and after school.

Final Thoughts

The cost of college continues to increase in many areas of the country. Students today are graduating with record levels of student loan debt, and this situation is made worse by the poor job market for college graduates. 

Over the long term, teaching your kids about their finances during school can really help them later in life. Instead of just taking out a bunch of student loans, students should try to earn scholarships and work while they are in school.

Senior Saving Tips to Make Your Dollars Go Further

Money can be tight when you’re living on a fixed budget, but as a senior, you’re often eligible for discounts that aren’t as readily available to younger people. 

Smart planning on your part means you’ll be able to buy the things you need and want at prices you can afford. Use these tips to help your savings go further, and make your dollars stretch on any kind of budget. 

Senior Days and Specials

Many stores and restaurants offer significant discounts to seniors. Some stores offer senior discounts once a week, while others may only have them once a month. Many restaurants have a senior menu that’s available every day. 

Of course, even the best deal isn’t a great deal if it isn’t money you’d usually spend, so be choosy when it comes to which stores you frequent. Only look for senior specials at the type of stores or restaurants you would normally attend. 

In some cases, you may be able to save more by combining store coupons with the senior day discount.

Coupon Shopping

The coupons from the Sunday paper can save you money while shopping for groceries, but couponing has come a long way in recent years. For example, someone who’s savvy with the Internet can search for and print out coupons for their favorite products. 

Some stores even have online coupons that simply connect with the store’s rewards card. Even retail stores have been upping their game when it comes to coupons. For example, online suppliers frequently offer discountrue Kohl’s coupons for up to 30 percent off to those who use their store credit card. 

Then, when shopping, you can earn Kohl’s Cash you can use to spend on a different shopping trip. The more you spend, the more cash back you get. Many stores offer similar types of deals, but making the most out of these types of deals means you need to be loyal to that store. 

Banking Smart

Make sure you have all your financial plans well laid out in advance. You should make an appointment to see if your retirement savings and funds are in order. Talk to your benefits company to see if you might be eligible for any other discounts or if your bank offers any special deals for seniors specifically. 

You might not realize what new programs have been added since you joined and how changing circumstances might affect your savings or accounts. You can save a lot of money and protect your retirement and financial future when you have a solid plan in place. 

See what offerings you can take advantage of are available and how you can better plan out how you will use and spend your money. 

AARP Discounts

Members of AARP, the American Association of Retired Persons, are eligible for significant discounts on a variety of purchases. It does cost money to become a member, but you can often save much more than the cost of membership. 

Car insurance, travel plans, clothing, and entertainment like movies or plays are just a few of the things that AARP members can receive discounts on. To make the most of your membership, always check the AARP website for discounts before you make a purchase. 

Sometimes, you can even get the deals by showing your membership card when shopping at a store.

Seniors may need to count their pennies when living on a budget, but it shouldn’t mean you have to enjoy life less. By making use of senior discounts and planning purchases, you can make the most of your money and make your dollars stretch.

Ways to Get a Loan with Bad Credit in Retirement

If you have a bad credit history and you discover that conventional lending institutions no longer want to lend you money, you should not despair because it is possible to find a good loan even with bad credit. 

Taking a bad credit loan will help you get the money you need quickly. If you make your repayments on time, you will be able to improve your credit rating. After the loan period has ended, you will be in a better position to get approval for regular loans. Here are some of the ways to obtain a personal loan with bad credit.

Apply With an Expert Broker Who Gives Bad Credit Loans

A broker who specialises in helping people with bad credit should be one of the first places to turn to when your credit history makes it difficult for conventional lenders to assist you. This type of broker will have access to many lines of credit from various financial institutions. 

They will help you analyse your ability to make payments and offer you a loan that you can easily pay back. However, you may need to bear with a relatively higher interest rate.

Take a Loan From Friends or Family Members

If you can't borrow money from a bank because of your credit rating, you may be able to find some friends or family members that will offer to assist you. When you receive a loan from a close friend or relative, make sure you treat it as seriously as you will handle a loan from a bank or mortgage lender. 

It is also important to put the loan agreement on paper and state the interest rate and terms of payment; any penalties for failing to pay back the loan should also be stated in the document. Use an online service provider to create the required documentation for this kind of loan.

Ask a Co-Signer to Help You

If you are not able to find a close relative or friend to give you a personal loan, you may be able get someone who will co-sign a loan for you. This will usually be a person who is aware of your financial situation and is sure of your capacity to pay back the debt. Your co-signer will have to bear the burden of repaying the debt if you default. 

Moreover, the payment history for the loan will not only appear in your credit report but it will show up in that of your co-signer. That is why you must ensure that you can pay back your loan before you use this option.

Those are some of the ways to find a good loan with bad credit. As you shop around for loans, make sure you do your best to improve your credit score. You should also develop a regular habit of saving a fixed amount of money every month. 

Also, do your best to get a stable source of income that will help to convince lenders about your ability to repay any loan they offer you.