Differences

This shows you the differences between two versions of the page.

government_loans [2019/04/05 16:37]
admin
government_loans [2019/10/12 16:15] (current)
admin
Line 10: Line 10:
=====Loans For People===== =====Loans For People=====
 +
 +**Update Oct 2019**:
 +
 +If you search for the term “government loans” you may end up pretty frustrated. Typically all you will see is information about student loans — which you may not be looking for! If you are looking for a loan to help you buy a home, you should see new (as of this month) information about the [[government_grants_to_purchase_a_home|availability of government backed mortgages]]. These are FHA loans and they provide a government guarantee to lenders, reducing their risk of defaults. If you need some major financing for your business to purchase or renovate real estate, you should check into [[domain_discuss:sba.gov|SBA loans ]]that can help (a lot!).
The government makes many kinds of loans to different types of recipients. This article’s focus is on those loans that are made to individuals. If you want to learn more about private sector (i.e., not government) loans made to individuals - in particular unsecured personal loans - see [[personal_loans|Personal Loans]]. **Note** that in mid-2016 the federal government has come down hard on payday loans, aiming to better protect borrowers. It requires that lenders to more to judge the borrower’s ability to repay the loan. Perhaps more importantly it makes it much more difficult for lenders to “roll over” loans. That is a practice that can increase the fees charged to the borrower and the lender may even take fees directly from the borrower’s bank account. So be informed, and be aware … and avoid payday loans even with these new protections. The government makes many kinds of loans to different types of recipients. This article’s focus is on those loans that are made to individuals. If you want to learn more about private sector (i.e., not government) loans made to individuals - in particular unsecured personal loans - see [[personal_loans|Personal Loans]]. **Note** that in mid-2016 the federal government has come down hard on payday loans, aiming to better protect borrowers. It requires that lenders to more to judge the borrower’s ability to repay the loan. Perhaps more importantly it makes it much more difficult for lenders to “roll over” loans. That is a practice that can increase the fees charged to the borrower and the lender may even take fees directly from the borrower’s bank account. So be informed, and be aware … and avoid payday loans even with these new protections.
Line 64: Line 68:
Also of interest should be the [[domain_discuss:sba.gov|Small Business Administration]]. No they don’t make loans directly to businesses, but they do make it easier for lenders to do so. In fact, they have recently even started a Microloan Program. This program provides non-profit intermediaries with the funds to offer loans to small businesses and to some nonprofit childcare centers. Typically microloan borrowers take out loans of about $13000. Also of interest should be the [[domain_discuss:sba.gov|Small Business Administration]]. No they don’t make loans directly to businesses, but they do make it easier for lenders to do so. In fact, they have recently even started a Microloan Program. This program provides non-profit intermediaries with the funds to offer loans to small businesses and to some nonprofit childcare centers. Typically microloan borrowers take out loans of about $13000.
-The government can also help you find a loan based on the results of a questionnaire. The questionnaire is long and asks a lot of detailed questions about about pretty much every aspect of your personal life. If you are willing to fill it out it will give you a list of government loans for which you might qualify. Just go to govloans.gov, click the arrow by “Loans” at the top, and click “Loan Finder.” +The government can also help you find a loan based on the results of a questionnaire. The questionnaire is long and asks a lot of detailed questions about about pretty much every aspect of your personal life. If you are willing to fill it out it will give you a list of government loans for which you might qualify. Just go to govloans.gov, click the arrow by “Loans” at the top, and click “Loan Finder.”
Recent Updates

Reverse Mortgage - Reverse Mortgage: hailed as a blessing by some, assailed as dangerous by others. Let's see why... Consider seniors who aren’t ready to sell but need to support monthly expenses. These days Social Security probably doesn't quite cu...

Help for Addiction - According to a study by the National Institute on Drug Abuse, substance abuse is not only a very worrisome issue but also a very expensive one. Cost may be associated with time or productivity reductions at work, crime and the cos...

Scholarships For High School Seniors - As a high school senior your primary goal may be to get into college. So you're probably focused on filling out the FAFSA, completing college applications, and maintaining your grades while you hope and wait for a...

government_loans.txt · Last modified: 2019/10/12 16:15 by admin