Car insurance is an absolute necessity for anyone who drives a car. Even ignoring the fact that some types of car insurance are mandated by law, coverage is essential: the potential costs surrounding an accident -- whether they be repair/replacement costs of the cars or other property, or medical costs of the victims -- are simply too huge to run the risk of being without adequate coverage.
Car insurance policies can be divided into two distinct categories: third-party liability and first-party insurance. In car insurance terminology, the owner of the policy is the first party, who has contracted with the second party (the insurer) for the coverage. The third-party is the other person(s) in the accident, or the person(s) whose property the policy-owner damaged. Thus, in general, third-party liability insurance covers the damages to other people that are attributable to the policy-owner. First-party insurance covers damages that are done to the policy-owner or his passengers.
At least some amount of third-party liability coverage is required by law in most states; for the most part, first-party coverage is not. However, car insurance is not the place to save money by cutting corners; a single accident could easily wipe out someone's life savings, whether they're at fault or not. Also, price isn't everything... if the insurance company balks at every claim, low premiums are meaningless.
Sunday, August 16, 2009
Private Mortgage Insurance
Definition
PMI. Mortgage insurance provided by nongovernment insurers that protects a lender against loss if the borrower defaults.
insurance
Definition
A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
PMI. Mortgage insurance provided by nongovernment insurers that protects a lender against loss if the borrower defaults.
insurance
Definition
A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
policy loan
Definition
A loan made by an insurance company to a policyholder on the security of the cash value of the policy.
A loan made by an insurance company to a policyholder on the security of the cash value of the policy.
Sunday, August 2, 2009
Student Housing Loan
CommercialBanc Multifamily Lending Group offers dedicated student housing loans through its Agency-Series™ Multifamily Loan Program.
SP
The Agency-Series™ Student Housing Loan Program is a customized multifamily loan program that addresses the special needs financing of the student housing market. Borrowers can expect flexible financing terms, including supplemental loans, structured transactions, and fast execution.
CommercialBanc Dedicated Student Housing Loan Program Overview
Dedicated Student Housing Loans are available based on the following general program guidelines. Exceptions to standard terms are made on a case-by-case basis. Contact a Multifamily Lending Expert at 1-888-706-BANC, to learn more.
SP
Eligible Properties Existing, stabilized properties that have a student tenant base and are not readily convertible to conventional multifamily housing.
Properties typically have undergraduate or graduate students comprising a minimum of 80% residency that were specifically constructed as student housing facilities, or built as conventional multifamily housing that function as dedicated student housing.
Eligible properties typically are located at or near a college or university with a minimum of 10,000 students, the majority of which are full time. Property should be located within a two mile radius of campus.
Student Housing Minimum Loan Size $1 million
Pricing Fixed rate pricing with fixed term to 10 years.
Location Nationwide
Amortization 25 years. Exceptions may be available on a case-by-case basis.
Maximum LTV 75%
Minimum DSCR 1.30:1
Minimum Vacancy 10%
Eligible Borrowers Single and multi-asset. Strong borrower with proven track record in student housing.
Food Service Not permitted
Leases 12 month leases required with parental guarantee or credit worthy students that are employed.
Forward Commitments Not permitted. Exceptions may be made on a case-by-case basis.
Rate Lock Extended rate lock available.
Study Abroad Loans
Loans are available for US students studying abroad, and are becoming incredibly important in meeting the demand for international education. US students studying outside the US fall into two categories for student loans, Study Abroad Loans for short-term foreign study and Foreign Enrolled Loans for direct enrollment overseas.
Study Abroad Loans
Study Abroad Loans are for those enrolled in a US school and studying abroad on a short-term program. You must be receiving credit at your home school for your study abroad, and your home school also must be approved. If so, your program can be located anywhere in the world. Of course, although you can apply on your own, you are much more likely to be approved and to get better rates with a qualified co-signer. We partner with two programs for Study Abroad Loans, each of which offer very similar and competitive products with different strengths:
> Study Abroad Loan from InternationalStudentLoan.com - offers competitive rates, online application and fast funding directly to the student. There are thousands of approved schools, and annual loan limits are the lower of $30,000 per year ($40,000 at certain select schools) or the maximum amount calculated for your school.
> Study Abroad Loan from StudyAbroadLoans.com - offers competitive rates, online application and fast funding directly to the student. There are a large number of approved schools, and student can obtain up to $50,000 per year for their study abroad program.
Which program is better for studying abroad?
In most regards the loans are very comparable from the two providers. However, StudyAbroadLoans.com will lend up to $50,000 per year for study abroad, so it's a good choice if you need a large loan. The StudyAbroadLoans.com program does not have as many approved schools, so if you do not see your school listed on that site, check out the InternationalStudentLoan.com study abroad loan program described above.
Foreign Enrolled Loans
Foreign Enrolled Loans are for US students directly enrolled and working towards a degree or certificate at a non-US school. There are over 400 approved schools around the world. With the Foreign Enrolled Loan, you can borrow up to $50,000 per year for undergraduate programs, and up to $70,000 per year for medical, dental, law or business school. A qualified US co-signer is strongly encouraged, though you can apply without one if you have built up good credit history. The high loan limits are helpful, especially if you choose to study in the UK, Western Europe or other areas with a high cost of living. You can find more information about loans for foreign enrolled students at InternationalStudentLoan.com.
Stafford and Plus Loans
As a US citizen or permanent resident, you have access to an excellent government-backed funding resource in Stafford and Plus loans. Before maxing out your private loans, make sure you start early, complete your FAFSA and apply for as much as possible through a Stafford loan; then get the remainder through a private loan described above.
International Student Loans
In partnership with International Student Loan we are excited to offer student loan programs for US citizens studying abroad and international students studying in the USA. We offer a variety of programs based on the country you are from and where you are studying.
For more information about the particular student loan products, please see below:
Student Loans for International Students
The International Student Loan Program is available to international students from around the world, who are looking to study in the USA. You have to be attending one of the approved schools, and you must also have a US Citizen or permanent resident to cosign the loan with you. The International Student Loan offers funding that is disbursed directly to you, with competitive interest rates and no application fees!
Student Loans for Study Abroad
The Study Abroad Loan provides funding for US Citizens who are looking to participate in a study abroad programs outside of the USA. Students need to be attending an approved school in the USA and have no need to complete a FAFSA form. Funds acan be available in a little as 5 days.
Student Loan for Canadian Citizens
For Canadian students studying or planning to study in the USA, we offer the Canadian Student Loan. Students applying for the Canadian Student Loan will require a US citizen or permanent resident co-signer. Formerly, we offered the CanHelp loan, which was available with a Canadian co-signer; however, as of April 18, 2008 the CanHelp loan has been discontinued and is no longer available. Instead of the CanHelp, Canadian students can now apply for a Canadian Student Loan for study in the USA.
Student Loans for US Citizens Foreign Enrolled
The Foreign Enrolled Loan program provides US Citizens with funding for their education when they plan to enroll directly in a degree program abroad. This is a private, alternative loan that offers high loan limits to cover the cost of school abroad, with borrowing limits up to $50,000 per year for undergraduate programs and up to $70,000 per year for medical, dental, business or law school.
For more information about the particular student loan products, please see below:
Student Loans for International Students
The International Student Loan Program is available to international students from around the world, who are looking to study in the USA. You have to be attending one of the approved schools, and you must also have a US Citizen or permanent resident to cosign the loan with you. The International Student Loan offers funding that is disbursed directly to you, with competitive interest rates and no application fees!
Student Loans for Study Abroad
The Study Abroad Loan provides funding for US Citizens who are looking to participate in a study abroad programs outside of the USA. Students need to be attending an approved school in the USA and have no need to complete a FAFSA form. Funds acan be available in a little as 5 days.
Student Loan for Canadian Citizens
For Canadian students studying or planning to study in the USA, we offer the Canadian Student Loan. Students applying for the Canadian Student Loan will require a US citizen or permanent resident co-signer. Formerly, we offered the CanHelp loan, which was available with a Canadian co-signer; however, as of April 18, 2008 the CanHelp loan has been discontinued and is no longer available. Instead of the CanHelp, Canadian students can now apply for a Canadian Student Loan for study in the USA.
Student Loans for US Citizens Foreign Enrolled
The Foreign Enrolled Loan program provides US Citizens with funding for their education when they plan to enroll directly in a degree program abroad. This is a private, alternative loan that offers high loan limits to cover the cost of school abroad, with borrowing limits up to $50,000 per year for undergraduate programs and up to $70,000 per year for medical, dental, business or law school.
Car Loans for College Students
Almost every college student needs wheels. Unfortunately, getting a car loan isn't always easy. Traditional banks and credit unions are usually not very eager to give car loans to college students, who may not have a great deal of income or credit.
Car Loans Online
Online lenders are one of the good things that have come with modern times. The competition between online lenders is fierce. Interest rates are lower than ever and even if your credit score isn't perfect, you can still get a car loan that has reasonable loan terms.
If you are a college student who is looking for a car loan online, remember to use primarily vehicle loan companies that will help you compare quotes and offers from more than one lender. This will help you get the lowest interest rate and best loan terms possible.
When applying for a car loan online, it is also important to make sure that you answer all of the questions on your loan application honestly and accurately. This will help the lender give you quote that you can rely on.
Applying for a Car Loan
Before applying for a car loan, you should determine how much you can afford to spend. College is stressful enough; you don’t want to have to waste time worrying about how you are going to make you car payment. Consider the following expenses to come up with a payment amount that you can afford:
* Car Loan Payment
* Car Insurance
* Fuel
* Car Maintenance (oil changes, tune-ups, etc.)
If you need help with the calculations, many online lenders provide loan calculators that can tally the numbers quickly. The lender may also be able to determine an amount that you can afford based on your income and other monthly expenses.
Car Loans Online
Online lenders are one of the good things that have come with modern times. The competition between online lenders is fierce. Interest rates are lower than ever and even if your credit score isn't perfect, you can still get a car loan that has reasonable loan terms.
If you are a college student who is looking for a car loan online, remember to use primarily vehicle loan companies that will help you compare quotes and offers from more than one lender. This will help you get the lowest interest rate and best loan terms possible.
When applying for a car loan online, it is also important to make sure that you answer all of the questions on your loan application honestly and accurately. This will help the lender give you quote that you can rely on.
Applying for a Car Loan
Before applying for a car loan, you should determine how much you can afford to spend. College is stressful enough; you don’t want to have to waste time worrying about how you are going to make you car payment. Consider the following expenses to come up with a payment amount that you can afford:
* Car Loan Payment
* Car Insurance
* Fuel
* Car Maintenance (oil changes, tune-ups, etc.)
If you need help with the calculations, many online lenders provide loan calculators that can tally the numbers quickly. The lender may also be able to determine an amount that you can afford based on your income and other monthly expenses.
Students Loan Scheme(paki student)
Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002 budget speech, a STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.
The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.
ADMINISTRATOR OF THE SCHEME National Bank of Pakistan
ELIGIBILITY
Under the scheme the students are eligible to apply for loans provided:
He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-
For Graduation Not exceeding 21 Years
For Post-Graduation Not exceeding 31 Years
For Ph.D Not exceeding 36 Years
He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints.
TYPES OF LOAN
The loan facility will be available for entire duration of the study for:-
Schedule Fee
Paid directly to the
University/College
Boarding expenses excluding meal charges
Procurement of textbooks--- Disbursed directly to the student
REPAYMENT
The maximum period of repayment of loan is 10-Years from the date of disbursement of first installment. The borrower shall repay the loan in monthly installment after six months from the date of first employment or one year from the date of completion of studies, which ever is earlier.
Under the Scheme, loans is available in the following subjects.
APPROVED UNIVERSITIES/COLLEGES
i) Engineering ii) Electronics
iii) Oil Gas & Petro-Chemical Technology iv) Agriculture
v) Medicine vi) Physics
vii) Chemistry viii) Biology, Molecular Biology & Genetics
ix) Mathematics x) Other Natural Sciences
xi) DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia) xii) Computer Science/Information
System and Technology including hardware.
xiii) Economics, Statistics and Econometrics xiv) Business Management Sciences
xv) Commerce
The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.
ADMINISTRATOR OF THE SCHEME National Bank of Pakistan
ELIGIBILITY
Under the scheme the students are eligible to apply for loans provided:
He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-
For Graduation Not exceeding 21 Years
For Post-Graduation Not exceeding 31 Years
For Ph.D Not exceeding 36 Years
He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints.
TYPES OF LOAN
The loan facility will be available for entire duration of the study for:-
Schedule Fee
Paid directly to the
University/College
Boarding expenses excluding meal charges
Procurement of textbooks--- Disbursed directly to the student
REPAYMENT
The maximum period of repayment of loan is 10-Years from the date of disbursement of first installment. The borrower shall repay the loan in monthly installment after six months from the date of first employment or one year from the date of completion of studies, which ever is earlier.
Under the Scheme, loans is available in the following subjects.
APPROVED UNIVERSITIES/COLLEGES
i) Engineering ii) Electronics
iii) Oil Gas & Petro-Chemical Technology iv) Agriculture
v) Medicine vi) Physics
vii) Chemistry viii) Biology, Molecular Biology & Genetics
ix) Mathematics x) Other Natural Sciences
xi) DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia) xii) Computer Science/Information
System and Technology including hardware.
xiii) Economics, Statistics and Econometrics xiv) Business Management Sciences
xv) Commerce
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