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What You Need to Know About Student Loans

 

The student loan crisis is nothing new. But that doesn’t mean its effects aren’t profound

For years headlines and news stories have reported the uptick in student debt and the impact it has on people for the rest of their lives. Student loan debt is a big issue in our country and with the cost of education on the rise, it becomes an even more important topic to discuss. 

Today, our team wanted to bring you up to speed on what you need to know about student debt: what it is, how to prepare for it, and ways to keep the costs at bay.

 

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First Time Home Buyers Guide

 

Buying a house is an inherently stressful process, but for first time home buyers the process can be especially complex. Many first time buyers purchase condos to take advantage of lower prices and reduce their responsibility to maintain the property.

This may appear to reduce mortgage default risk because the monthly payment is lower, but in reality making the homeowner’s association a party to the transaction adds far more default risk than the lower payment removes.

In addition, given the nature of the current economy, many millennial buyers have student loan debt, or work as 1099 contractors instead of W2 employees, which further compounds the risk and makes it harder to qualify for a home loan.

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