Every industry has its shining stars and bad apples. The mortgage industry is no exception. For most consumers, a mortgage will be the single largest purchase they make in their lifetime. This makes picking the right mortgage lender even more important. Its also vital to recognize mortgage scams like loan churning and flipping to avoid … Read more
A house is one of the biggest purchases you can make, so figuring out how much you can afford is a key step in the home-buying process. The first thing you should do is compare how much money you have coming in (from your job, investments, and other sources) to how much you have going … Read more
Credit scores are grouped into ranges between 300 to 850. The ranges are used by lenders to determine your creditworthiness. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. … Read more
You may worry about leaving your loved ones saddled with your student loan debt if you die when you still owe money. There are a few things that affect what happens to your student loans after you die. These include whether your loans are federal or private and whether you had a cosigner. Student loans … Read more
While a higher income generally means a higher credit limit, income is just one factor lenders consider when setting credit limits. Other credit limit influences include creditworthiness, credit utilization ratio, credit card attributes and economic trends that affect credit risk. Credit card companies look at your income and a number of other factors, such as … Read more
Mortgage lenders usually verify your employment by contacting your employer directly and reviewing recent income documentation. The borrower has to sign a form giving permission for an employer to give a potential lender information about their job and income. At that point, the lender typically calls the employer to obtain the necessary information. Most employers … Read more
Credit scores and FICO® ScoresÎ can mean the same thing, but FICO® makes different products and credit scores are made by other companies. You can think of a credit score as the general name for a computer model that analyzes consumer credit reports to determine a score. The FICO® Score is a specific type of … Read more
Moving somewhere new when you retire isn’t uncommon. But deciding whether to take out a new mortgage to buy a home is a big deal. Much of your financial life is changing as you transition from a steady paycheck to a mix of fixed and variable income and a new lifestyle. So adding a large … Read more
Having derogatory marks on your credit report can seriously damage your credit score and make it harder to get approved for loans mortgages credit cards, and other financial products. But the good news is – yes, you can remove derogatory marks from your credit report through different strategies. What Are Derogatory Marks? Derogatory marks are … Read more
The advice in this article is offered by the team independent of any bank or credit card issuer. This article may contain from our partners, and terms may apply to offers linked or accessed through this page. as of posting date, but offers mentioned may have expired. Bankrate logo. We at Bankrate want to take … Read more