Student Loan Consolidation Made Me Qualify For A Home Loan
They say that home ownership is the American dream. Since my parents are always renters, I grew up in a family that could not ever seem to get ahead far enough to set aside a down payment. While home ownership was still something that I would have hoped to aspire toward, in my mind the American dream seemed to be a very far-fetched dream.
Two years ago, imagine the butterflies in my stomach when I found an adorable little house, not too far from my new job, with hardwood floors in mind condition, a fireplace, a fenced backyard and the coziest feeling. Handling the monthly payments was something I am sure of. Must I dare get my hopes up that this fabulous little cottage could be mine?
So I started my first-ever journey becoming a homeowner with complete stress and rewards. Everything seemed to be going on, business as usual.
I am unmarried, of course, my income would be checked. The real estate agent and mortgage lender noticed the student loan debt that had accumulated while I worked on my bachelor’s degree and master’s degree was now pretty significant when I discussed my financial situation.
So my debt-to-income ratio was not looking good. On top of that, when I calculated my monthly bills and expenses, I was starting to doubt my ability to actually pay all of my bills and make a mortgage payment. I guess I moved forward too soon with his home purchase.
I was challenged to find when I requested a free copy of my credit report online from a legitimate site when United States citizens are entitled to one free copy each year and that there are so many that charge for this. While studying the credit report, OnlineStudentLoansGuide.com assisted me by explaining how consolidating my student loans could greatly increase my chances of being approved for the house loan and comfortably making the payments each month.
Student loan debt consolidation is something you should not be ashamed of or embarrassed about. It is very far on how you negatively look at bankruptcy. In fact, it is a good thing. It is a debt elimination procedure, which is a legal and ethical manner of combining all your student loans into one single loan. Once consolidated, even if you originally had more than one student loan from more than one lender, you are allowed to pay just one monthly payment. If you plan to organize your debts and remove the worries of making more than one payment, this can be very helpful since you are now writing one check or having one payment debited from your bank account.
Thanks to Online Student Loans Guide web site for walking me though the process, it has been almost one year that I have been in my own home.
Whether you plan to go back to college or university to acquire an associate’s degree, bachelor’s degree, or a graduate degree like a master’s degree or doctorate, OnlineStudentLoansGuide.com is accessible to help you out. Government, private and need-based student loans are accessible for those who wish to continue their educations.
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