When you purchase or refinance a home, the last step in the process is called the closing. This is when you finalize all the details of the transaction. Knowing what’s expected of you and understanding key homebuying terms can make the process smoother. Buying a home is an exciting milestone but the process doesn’t end … Read more
Receiving a pre-screened offer or using a tool to check for pre-approval can be a great way to understand your credit card options. And getting pre-approved for a credit card typically wonât impact your credit scores. Find out how the terms pre-approval, pre-qualify and pre-screen are used. Plus, learn how card issuers can check your … Read more
There’s a lot to think about when buying a home between getting funding for a down payment and closing costs, making the winning offer, and gathering documents to give the lender. It’s important not to overlook your credit score. Lenders look at your history to determine the likelihood you’ll be able to handle your payments. … Read more
If you want to buy a house in Canada, you probably have a lot of questions. For example, how do mortgages work there? What is your credit score, and how high should it be to buy a house? Who should you talk to about getting a loan? Is it going to be hard to buy … Read more
When you buy a home, some financial experts recommend making the largest down payment possible, while others suggest financing as much of your purchase as possible. The right answer depends on market conditions and your circumstances. “Its important to ask the right questions about how various down payment amounts will affect your mortgage insurance and … Read more
You’ve just checked your credit report and noticed an inquiry you did not authorize. If you do not recognize this hard inquiry, you could potentially be at risk of fraud. You’ll want to investigate the inquiry immediately so that your credit score is not damaged in the future. There are a few things you should … Read more
Hey there, friend! If you’re thinkin’ about a cash-out refinance to tap into your home’s equity, you’ve probably got one big question burnin’ in your mind: how much should closing costs be on a cash-out refinance? Well, lemme lay it out straight for ya. On average, closing costs for a cash-out refinance run about 3-6% … Read more
The five Cs of credit are important because lenders use them to decide if they will give you a loan or debit card. Lenders also use these five Cs—character, capacity, capital, collateral, and conditions—to set your loan rates and loan terms. Hey there business peeps! If you’re hustlin’ to grow your company or just need … Read more
A 620 credit score is typically what you’ll need to get a mortgage for a home purchase. You can buy a house with a credit score as low as 500, but the rate will be higher and the down payment will be bigger. You’ll also have to pay a bigger mortgage every month, which will … Read more
If you’ve ever wondered, “What is APR on a loan?” then you’ve come to the right place. I’ll explain it in simple terms, without any complicated financial language. APR, or Annual Percentage Rate, is the cost of borrowing money each year. It’s important to know this when you take out any kind of loan, like … Read more
