While mortgage rates in general are set by the government, the rates on individual loans vary a bit depending on your credit score and other factors, including your chosen lender. Even a minor difference in your mortgage rate can either cost you or save you a significant amount of money over the life of your loan. For this reason, it pays to put extra effort into securing a lower rate when purchasing a home. Read More»
Mortgage interest rates can have a significant impact on how much of a home you can afford. A simple range of one or two points could mean the difference between tens of thousands of dollars over the life of a loan. Some home buyers may want to wait until mortgage interest rates get lower to purchase a home – but there are really only a few factors that impact these rates: Read More»
Buying a home almost seems like a necessity, but it’s not worth investing if you aren’t actually ready. Here’s how you can decide whether or not you are ready to buy a house: You Have Savings: If you have been saving for a house and it’s enough to cover the initial costs of the investment, then you’re probably ready to buy a house. Just know what the costs are going to be. Read More»
If you are buying a new or used car but you have bad credit, you can get stumped when trying to get auto financing. Many companies will simply decline you if you have too many open credit accounts, a high debt-to-income ratio, or if you have derogatory accounts that you haven’t been paying up on. You can still get financing a few ways so you can get into the car you desire. Read More»
If you’re thinking about buying a car, you need to start preparing your credit as soon as possible. Getting the best rates on your car loan means having a good credit score and a credit report that shows consistency and reliability. If this will be your first time applying for a car loan, here are a few tips that you can use now to get your credit ready for the application process. Read More»
It doesn’t necessarily matter if you have stellar credit and earn a high salary. If you’re going through a divorce, it may be a bit tougher—although not impossible—to qualify for a mortgage loan. Like any borrower, a lender will consider your ability to pay the monthly mortgage payment. Therefore, until you have a divorce agreement clearly outlining your financial responsibilities and the division of your marital assets, you may have to look for other ways to qualify for a mortgage loan. Read More»
If your teen is about to graduate high school and enter college, you may wonder if taking a second mortgage would be a good option for paying the teen’s tuition. While this is not always a good option, it can be in some cases; however, you must make sure you have enough equity in your home before you consider using this option. Here are several factors to consider that would make this a good option if you need cash to pay for your child’s tuition. Read More»
If you need cash to fund a major purchase or project, give you working capital for your business, or consolidate several short-term loans into one, a long-term personal loan is a financing option to consider. Although the interest rates and repayment periods available differ among lenders, long term loans allow you to borrow a larger amount of cash and pay it back over a longer period of time. In addition to a longer repayment period, a long-term personal loan offers several additional advantages. Read More»
If you’re like many people, buying a home is something that you dream of doing. Owning your own house gives you the chance to decorate, fix up, and modify the structure in a way that makes the home uniquely yours. However, before you can get a house, there are certain things that you must do. It’s important to make sure that you have things in place that can make you a sure risk for the mortgage company. Read More»
If you are a first time home buyer, you may be wondering what will be expected of you to purchase a home. It used to be much more flexible to get approved for a home loan, but now there are more regulations, and because of that, you will need to show more documentation and proof to get the loan. However, being prepared can be one of the best things to speed up the process and improve your changes of getting approved for the loan. Read More»