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9 Benefits of Financing your Child’s Education with a Loan Against Property

Higher education has become very expensive nowadays. With the increment in higher education expenses, the need to finance it with a loan is gaining importance.

Different loan options like education loan, personal loan, loan against property, etc. are available in the market for financing your child’s education. The most feasible option is a loan against property.

What is a Loan Against Property (LAP)?

As the name suggests, Loan Against Property (LAP) is a loan given against the mortgage of property. This loan is given as a fixed percentage of the value of your property.

Advantages of Loan Against Property (LAP)

There are several advantages that make a loan against property a popular and preferred choice. The main advantages of LAP are as follows:

Easy Processing: Easy documentation and speedy approvals lead to easy processing of this loan. The total processing time of loan against property is much less than other loan options for financing education.
Collateral Security: If you apply for a loan against property, you do not need any other collateral security. While if you apply for an education loan, you always need to provide a collateral security to the money lender.
Higher Loan Amount: Loan against property is a secured loan and hence you have access to a higher loan amount in this loan option. You can avail a loan amount of up to 70 % of the value of your property.
Overdraft Facility: Overdraft facility is available in this loan option where you can borrow a large amount despite having insufficient balance in your account. Your overdraft limit is determined by the value of your property and your credit history.
Lower Interest Rates: Since it is an asset-backed loan and a secured option, the interest rate is lower as compared to other loan options.
Financial Planning: Since the loan amount gets transferred to your bank account, you can plan your finances in a better way.
Longer Loan Tenor: The loan tenor is generally longer as compared to other loans. Longer loan tenor means lower EMIs which is again beneficial for you as a borrower. Loan against property generally has a tenor of 5 to 15 years. The maximum loan tenor is 20 years.
Payment Options: Part payment, prepayment, and foreclosure options are also given by money lenders in this loan option. This means that you can reduce the interest burden and the tenure of the loan by paying a small additional cost.
Top up loan: Loan against property comes with a top-up facility. If the value of your property rises during the tenor of the loan, you have the option of availing a top up on the existing loan.
A loan against property is one of the best ways to raise money for your child’s education especially if you are looking for a large size loan.

The only risk factor associated with this loan is that the money lender has the right to sell your property and realize the loan amount if you are unable to pay off the loan on time. So you should always assess your repaying capabilities before opting for a loan against property.

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Get a detailed knowledge about the USDA Lenders and USDA Rural Housing Loan schemes

Initially, USDA was known as the Resettlement Administration and on April 30, President Franklin D. Roosevelt signed the Executive Order 7027. The main aim of USDA was to issue emergency loans to farmers and restore soil to eroded areas. In the year 1994, the USDA Rural development department was created whose work was to administer the USDA home loan program for rural housing. They help the destitute families to relocate.

What is USDA loan?

As you all know that your home requires a lot of maintenance. You need to repair it and at the same time do not want the maintenance cost to turn out into a massive and expensive repair. So, declared by the United States Department of Agriculture, USDA is a type of home loan which offers very low interest rates to borrowers. It has no down payment policies. This was introduced to give an incentive in order to populate the rural areas. It offers 100% financing to buyers. USDA lenders also provide you with rural repair and rehabilitation loans and grants. In order to become eligible for the first-time home buyer grants, your house must be located in some rural area.

What is the USDA process for home loan financing?

Similar to any other home loan, USDA also follows the same home loan process. Unlike other home loans, once you apply for it and your file is complete, the final commitment is issued from the central USDA office. Let us take a detailed look about how it processes.
Firstly, you need a Pre-Approval Letter. This letter can be obtained from the USDA loan specialist.
Suppose you picked a home in the USDA eligible area. This property should meet all the USDA requirements and then you need to obtain the sales contract.
The loan application documents need to sign and sends back to loan representative along with all other supporting documents.
Appraisal and inspections process will be carried out before your loan gets finalized. This role is played by the Underwriter. He reviews all your documents and after the review is done, underwriter sends your file to central USDA office.
The central USDA office issues the final commitment. After that it sends the file back to USDA Underwriter.
After receiving, it will finalize your loan and schedule your closing.
Requirements to qualify for a USDA loan

You must be a permanent residence or have a U.S. citizenship.
You must be able to repay the mortgage and with your own willingness. It involves no late payments.
not more than 115% of the area median income is allowed for the homebuyer
An acceptable debt ratio is a very important factor.

What are its benefits?

Being one of the most popular home loans, USDA rural housing loan schemes offer you a number of benefits. Let us take a look.

it has zero down payment policy
it comes with low interest rates
the closing costs are low
low mortgage insurance
provides 100% financing
it has 30-year amortizations
It has flexible credit guidelines where it lends down to a 620-credit score.

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Effective And Permanent Natural Remedy For Weak Eyesight

Though, weak eyesight is the problem of aged people, there are lot of young people who also suffer the problem of eyesight. Some physical ailments can cause create problem. For example, cataract, myopia, astigmatism, macular degeneration etc. Staring at computer screens, cell phones and televisions also lead to poor eyesight and enhance the age-related optical problems. So, everyone should go after effective and permanent natural remedy for eyesight.

Natural cure for weak eyesight: There are many ways to cure eyesight. Presently, the natural treatments are accepted choice. Lots of people have achieved optimum result by using natural treatment. Here, are a few natural ways which may help to obtain powerful vision.
1. Using cucumber juice is one of the best natural ways to cure eyesight. It relieves the eyes from tiredness. Besides, consumption of I-Lite Capsule also improves eyesight.
2. Drinking plenty of water and fruit juice is another natural cure for eyesight. Fruit juices are rich source of Vitamin C which helps improving vision.
3. Eye exercises are very much essential to strengthen the eyesight and eye muscles. It is also an effective and permanent natural remedy for weak eyesight. Do the simple exercises such as visual trainings and relaxation. It helps to regain powerful eyesight naturally within a short period.
4. Diet plays very important role for enhancing eyesight. Include the foods which have anti-oxidants because research has proved that the anti-oxidants are very much efficient for improving the poor eye-vision. Carrots, green leafy vegetables and eggs are good sources of anti-oxidants. Cooking in olive oil is another effective ways for including anti-oxidants in the diet. In addition to, consuming I-Lite Capsule also offer good and effective result.
5. Amla or Indian gooseberry is considered as an effective and permanent natural remedy from eyesight. Take one tsp of amla powder and one tsp of honey to prepare a smooth paste. Consume this herbal paste twice daily, once in the morning and once at night. It is very much benefitted for the diabetic people also for improving the eyesight.
6. Take a cup of water and add one tablespoon of triphala powder. Mix it well and leave this mixture stand for half an hour. This is an effective and permanent natural remedy for eyesight.
7. Aniseeds are another natural supplement which works for improving weak eyesight. Take it once in the morning and once at night for effective result.
8. Crush two pieces of cardamom and add it to one glass of warm milk. Drink it before going to bed every night.
9. Staring at computer screen is a significant cause of eyestrain. So, give rest the eyes in every twenty minutes by looking twenty feet away for twenty seconds. And take at least 15 minutes break in every two hours.
10. Proper sleep is also an effective and permanent natural remedy for eyesight. So, try for at least seven to eight hours sound sleep every night.

Over to You: If you experience the problem of weak vision, you should take counter active steps as early as possible to stop more damage and also achieve good eyesight. Consume I-Lite Capsule for optimum result.

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