Debt-to-income ratio, or DTI, measures your total monthly debt against your total monthly income. Along with your credit score, lenders use your DTI to judge whether they will offer you a loan and if so, at what rate. Debt-to-income ratio for car loans is represented by a percentage. Generally, the lower this percentage is, the … Read more
Your credit score is a rating that has been calculated by credit bureaus, to give potential lenders an idea of your creditworthiness. Your credit score is important if you ever need to take out a loan, mortgage or credit card, as it will impact whether the loan is approved and the kind of interest rate … Read more
There is a significant amount of debate in the personal finance community about the benefits of being mortgage free. Many people love the idea of being completely and wholeheartedly debt free – mortgage included. They say you just sleep better at night, and you haven’t lived until you have a life of no payments. However, … Read more
This is because a credit score of 735 is good in the lending business and can help you get loans, credit cards, and lower interest rates. This credit score likely comes from a track record of consistent, healthy habits with debt. As a result, lenders typically feel comfortable with borrowers in this range, sometimes offering … Read more
A CIBIL score of 753 is considered to be in the “very good” credit score range. But what exactly does that mean and how does your credit score impact your ability to get loans and credit cards in India? In this article we’ll break down everything you need to know about a CIBIL score of … Read more
If you recently purchased a home, you may be wondering if you paid points on your mortgage and if so how paying points could benefit you come tax time. Paying points which are fees paid to lower your mortgage interest rate, can seem confusing but with the right information, you’ll know if you paid points … Read more
The Paycheck Protection Program officially ended on May 31, 2021. Read our PPP page for more information or visit our PPP Loan Forgiveness Guide. As part of a larger relief package, Congress has approved $284. 5 billion in new Paycheck Protection Program funding. The types of businesses and industries that are eligible for PPP loans … Read more
Learn ways to pay off your debts and get advice on the best way to do it based on how much you owe. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on our site. … Read more
Your score falls within the range of scores, from 670 to 739, which are considered Good. The average U. S. FICO® ScoreÎ, 714, falls within the Good range. Lenders see people with good credit scores as “acceptable” borrowers and may offer them a range of credit products, though not always at the lowest interest rates. … Read more
A frequently-asked question is whether a mortgage borrower receives any benefit from paying before the due date. In most cases, the answer is ânoâ, but there are a few exceptions. When you pay off a simple interest mortgage, like a home equity line of credit (HELOC), early payment does save you money. In some cases, … Read more