Getting approved for a $250,000 mortgage may seem like a lofty goal, but it is very achievable for many homebuyers. With the right income, credit score, down payment, and overall finances, a quarter-million-dollar home loan is within reach. Key Factors That Determine Your Eligibility When applying for a $250k mortgage, lenders will carefully evaluate these … Read more
There are risks to think about when you use lines of credit. Part of the series: How to Run a Successful Small Business When you need money, you may consider getting a personal loan, which provides a lump-sum amount. However, if you don’t know exactly how much money you may need, you may want to … Read more
A mortgage is an agreement between you and a lender that lets the lender take your home if you don’t pay back the loan amount plus interest. This type of loan is used to buy a house or borrow money against the value of a house you already own. Getting a mortgage is one of … Read more
The introduction of E-loans has significantly raised lending standards in India. E-loans have encouraged borrowers nationwide to avail of loans without hesitation. E-loans are better than traditional loans in a number of ways, such as the fact that they are quick to disburse, easy to apply for, and can be done entirely online with little … Read more
People with credit scores below 617 are usually thought of as “subprime consumers,” but that doesn’t mean you can’t borrow money. A FICO score of 714 is the average in the United States as of 2021. Credit scores between 580 and 669 are considered “fair.” In this article, we’ll take a look at what your … Read more
Not sure if you can change the down payment amount before closing on your new home? Whether you want to pay more or less, it’s definitely possible to change how much you put towards your down payment. However, doing so can have some consequences for your transaction. In this post, Chris Schmidt and our Houston … Read more
The FICO® Score of 675 is in the “Good” range, which is scores between 670 and 739. The average U. S. FICO® Score, 714, falls within the Good range. A large number of U. S. lenders consider consumers with Good FICO® Scores “acceptable” borrowers, which means they consider you eligible for a broad variety of … Read more
There’s no doubt that not having any debt can give you a certain sense of freedom. When you don’t owe anything to anybody, the money you have is yours to do with as you wish—a great retirement dream scenario. But as we all know from experience, reality can be a bit different. In an ideal … Read more
One of the most important financial decisions most people make is getting a mortgage to buy a house. And the down payment is often the biggest problem, especially for people who are buying their first home. That’s where FHA loans come in handy; they only need a 3.5 percent down payment if your credit score … Read more
Your credit limit is a crucial aspect of your financial health, impacting everything from your credit score to your ability to make large purchases. At Peoples Bank & Trust, we believe in empowering our customers with the knowledge they need to manage their finances effectively. Heres a comprehensive guide to understanding your credit limit, how … Read more