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If you’re in a bind and need money but feel like your options are limited, you may consider turning to a short-term loan. However, short-term loans are often a very expensive way to borrow—especially if you turn to payday loans or car title loans. That’s why it’s best to consider one of these eight possibilities […]
8 Alternatives to Short-Term Loans Read More »
If you’re considering getting a loan, it’s wise not to jump at the first offer. Whether you’re looking for a mortgage, car loan or personal loan, you’ll inevitably find different rates, terms and other details depending on the loan and lender. Comparing loan offers can ensure you find the loan that meets your needs at
How to Compare Loan Offers Read More »
Having a low credit score can make it challenging to get a loan. Bad credit could limit your options and lead to more expensive loan offers. However, many reputable lenders have lower minimum credit score requirements and may also consider other factors besides your credit score, including your income, debts, collateral and credit history. A
How to Get a Loan With Bad Credit Read More »
Americans are taking out fewer mortgage loans as interest rates increase, a reflection of buyer uncertainty amid rising inflation, higher interest rates and concerns about economic slowdowns. And even as mortgage rates hover near highs not seen in 20 years, mortgage amounts have yet to fall back to pre-pandemic levels. Experian examined mortgage rate data
Fewer People Are Taking Out Mortgages as Interest Rates Increase Read More »
A debt consolidation loan is a type of personal loan you can use to pay off other loans and credit card balances. Combining multiple debts into one new loan could make managing your monthly bills easier, save you money and help you pay off your debt faster. Here, we’ve narrowed down several top consolidation loans
Best Debt Consolidation Loans in 2023 Read More »
If you’ve recently been denied a loan, you’re not alone. Understanding the reasons why your loan was denied can help you determine your next steps and improve your chances of getting approved the next time you try. Even if the sting of denial may still be fresh, here’s what you can do. Understanding Why Your
What Happens If Your Loan Is Denied? Read More »
A home equity line of credit (HELOC) allows homeowners to tap the equity in their home in the form of a revolving credit line, similar to a credit card. What’s considered a good HELOC interest rate can vary depending on the current economic conditions. In November 2022, for instance, some lenders are offering rates in
What Is a Good HELOC Interest Rate? Read More »
A home equity line of credit, or HELOC, is a type of secured loan that gives you access to cash based on the equity in your home. You draw from a HELOC as needed and repay some or all of it monthly, somewhat like a credit card. When applying for a HELOC, a lender will
Pros and Cons of a HELOC Read More »
An 80-10-10 mortgage loan, also known as a piggyback loan, lets you buy a house using two mortgages simultaneously. When you take out an 80-10-10 loan, you borrow a total of 90% of your home’s value. The first mortgage covers 80% of the price of your home, the second mortgage covers 10% and the remaining
What Is an 80-10-10 Mortgage Loan? Read More »
You can negotiate certain mortgage fees to lower your loan costs. It’s only natural to want to save as much as possible when making a purchase as large as a home. This is especially true when you consider that closing costs and fees usually range from 2% to 5% of your new home’s purchase price,
Can I Negotiate Mortgage Closing Costs? Read More »
One of the main reasons borrowers take out personal loans is to pay off high-interest debt with a lower interest rate loan. Along the same lines, you might consider refinancing your current loan if you find a loan offering you a lower interest rate. You can refinance a personal loan by prequalifying for a new
Can You Refinance a Personal Loan? Read More »
A co-borrower, or co-applicant, is someone who applies for financing with another person. Co-borrowers have a shared interest in the debt and are equally responsible for making the payments. In addition to joint responsibility, co-borrowers also share ownership of the funds and any asset purchased using the loan, like a house or car. Find out
What Is a Co-Borrower? Read More »
Loans can help you finance important purchases such as a vehicle, education or home, along with just about anything else. But if you’re thinking about taking out a loan, whatever the reason, it’s a good idea to understand the total cost of the loan and how you might be able to reduce what you have
How to Reduce Your Total Loan Cost Read More »
Home equity loans and home equity lines of credit (HELOCs) often charge closing costs, though it’s possible to obtain both without them. On loans and lines of credit that do come with closing costs, you can expect to pay between 2% and 5% of the loan amount, depending on the lender. Here’s what you need
How Much Are Home Equity Loan or HELOC Closing Costs? Read More »
With the housing market heating up as mortgage rates remain low, people are flocking to buy a house, including many first-time buyers. The share of first-time homebuyers in the market reached 36 percent, according to the National Association of Realtors. This combined with low housing inventory across the U.S has created a competitive environment, so
New Mint Feature Highlight: Home buying made easier with Rocket Mortgage Read More »
