Does it make sense to take out a student loan to help make larger down payment on a home? related questions

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Does it make sense to take out a student loan to help make larger down payment on a home?2madea2012-10-27 08:02:03
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to take out a student loan to help make larger down payment on a home?0tiantae2012-11-06 00:09:02
My husband and I have a combined income of $ 160,000 a year and are planning to buy a house in the Boston area . Housing is very expensive here , and a two bedroom apartment goes for between $ 400 to 450.000 . We currently have about $ 30,000 to be used for the down payment. My dilemma is that my graduate school is offering me $ 20,000 in student loans over the next year and a half (I'm on a full scholarship ) at the rate of 6.8 % . I do not need them for their expenses , but does it make any sense for them to take to help with the costs of houses ( down payment, closing costs , or even furniture / decor ) . We will not have 20% less , but we are close to not having to pay PMI for long. MedlinePlus MedlinePlus Besides that I have $ 10,000 in student loans ( mostly variable rate , just consolidated at around 2.48% ) , we are completely debt free . We bought the car in cash , and not expect to have to replace in the short term ( a Honda 2005) . Our debt-to- income is very low and our credit is great . I am also eligible for $ 17,500 in loan forgiveness for a few years , as I am a special education teacher urban . It is also important to note that we work very safe and there are no plans to make major changes , such as Special Ed teacher for Boston Public Schools . MedlinePlus MedlinePlus What do you think ? We would like to buy soon , to take advantage of the market and the tax credit .
Does it make sense to take out a student loan to help make larger down payment on a home?0ct2012-11-02 18:06:35
I am a full time teacher ($65,000 yr) and full time graduate student (on a full scholarship). I am looking to buy a house in the Boston area. I am being offered about $15,000 in student loans per year, at the current 6.8% fixed rate. Though I don't need these loans to live on, I'm wondering if I should take them to beef up my down payment (our savings is currently at about $30,000, we're looking at a house in the $450,000 ballpark). I will be combining income with my boyfriend, who makes $90,000 a year. Does it make sense to have more student loan debt but a bigger down payment? Some more details: I currently have about $8,000 in student loan debt from undergrad (variable rate, now about 2.5%, and about $7,500 from grad school last year (6.8%). Also, because I'm an urban special ed teacher I am eligible for $17,500 of my loans to be forgiven after 5 years (I'm in my 1st).
I have a private student loan and its n default can I make a payment to make it current or do i have 2 pay all?0confused mama!2012-10-26 13:08:43
Do I have to pay the entire balance because I'm trying to get financial aid for this semester and I have to make a payment on a loan, but its default.
Does it EVER make sense to do a Home Equity Loan for CC Debt Consolidation?2denver2012-10-05 14:26:03
Two creditors are telling me it will be the best thing I ever did for myself . I have three bad debts and a FICO of 551 . MedlinePlus MedlinePlus Why am I going to pay three times more in the interest of "making them disappear " and put my house up as collateral .... exchange for an unsecured debt to a secured huge ? Seems obvious .... MedlinePlus MedlinePlus Why do so many people do it ? Am I missing a key benefit ?
Does it make sense to pay off my student loan?0B.N.2012-11-04 15:03:42
Student loan is at a payoff balance of 15K. Have enough to pay it off and still have a good amount left over. At the same time, I am also thinking of moving in about 6 weeks and want to know if it makes sense to pay it off now and free up the $160 I'm paying a month. That same money is only earning about 1% interest right now and the interest rate on the loan is about 7%. Let me know what you think, thanks!
Does it make sense to purchase a home to reduce debt?0Gwen2012-09-20 16:32:02
I have bad credit and debt. I'm just getting from payday to payday . Should I use my VA loan eligibility to buy an affordable home and consolidate my debt with a home equity loan ?
Does it make sense to take a home equity loan out for $100K or so a year in advance of renovations and invest?1Star Chick 2012-09-09 13:27:03
I'm thinking of putting everything in a couple of investment funds or investment funds perhaps half / half CDs . I'd like to cash in other investments to avoid capital gains in the short term.
Something screwy going on! I am going to try and make this make sense, if I can?0clubpenguingangster2012-11-05 06:44:49
My email,one that I don't regualrly use, sent an email to my main email with something that should have been in the documents section of the computer. It also sent it too at least one of the contacts in my address book.(I did not sent this) I also go an email (to this email that I don't regualrly use)from the finance company that we have our car loan with saying that the email that I sent on friday(Ididn't send one) had the wrong address info and work info in it(it did as we have recently moved across the country) but I did not send that email to the loan company neither did anyone in my family. Can anyone tell me what in the world is going on???? Should I be worried? What should I do?
Does it make sense to get $40k in student loans to get a bachelor degree in finance/accounting online?3Mattie2022-06-06 07:51:12
I want to get an online degree in finance / accounting , I was thinking of doing it at the University of Missouri Columbia online . MedlinePlus I have 30 years old and has no other debt .
Does this make sense?24ever2012-10-24 13:48:02
A friend and I had this business idea . We have no money to get it going , and in our time , so I doubt exceed 50k in business loans (if that much ) .. I had been reading about the companies and the advantages of incorporation. So , is it possible incorportate our business , selling shares in the company to raise money ? I know this will give shareholders a partial participation , but do not want after the company grows , for someone to try and push me off the board , there is a way to secure a place for good for me and my family , and I it could sell shares at a lower price than everyone else?
Does it make sense that FAFSA only approved me for a loan?0madhuri2012-10-15 22:30:49
I'm entering SJSU , I am a dependent student and make only $ 400 a month . MedlinePlus MedlinePlus All proceeds goes to pay for my car and the rest are various , I end up having very little at the end of the month . MedlinePlus MedlinePlus I live with my mother alone , and she makes about 40k a year . Again the rent is a little high , and she does not have the support of my dad , so she ends up having a bit of savings to the end of the year . MedlinePlus MedlinePlus I've only approved for a : Fed Unsubsidized Stafford Ln $ 3,500 MedlinePlus . MedlinePlus Enough to cover my spring semester , but given my situation , I was expecting a subsidy . Is this right ? And if not, what I can do to change the course of action ? MedlinePlus MedlinePlus Thank you. MedlinePlus MedlinePlus

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