If you’re behind on taxes, you might be wondering if owing the IRS hurts your credit score. Negative marks on your credit score can have a lasting impact, making it more difficult to apply for a credit card, car loan, home mortgage, and more. When qualifying borrowers, lenders want to see a demonstrated history of … Read more
You may be wondering if the credit card interest you pay could save you some money on your taxes. The answer depends on a number of things, such as how you use your credit card and what kinds of things you buy. Credit card interest can be confusing when it comes to taxes. You may … Read more
If you have a 401(k) and you want to take a mortgage loan, find out if the mortgage lender considers the 401(k) debt during the approval process. 3 min read. When you apply for a mortgage loan, the lender will look at your income and debts to see if they will let you borrow money. … Read more
Getting a house is probably one of the most important financial choices you’ll ever make. Finally, your credit score is a big part of whether you can get a mortgage and what the terms of the loan are. One of the most important things to know before you buy a house is what credit score … Read more
Even if you’re not used to credit scores, you might be shocked to see a three-digit number when you check them for the first time. Thatâs because your credit score doesnât start at zero. Find out where your credit score comes from and why it’s important to be responsible with credit from the start by … Read more
There isnât a one-size-fits-all answer to whether 650 is a good credit score. One lender may consider 650 a good score. Another may not. Or 650 may be considered a good score for one type of loan but not another. It depends on whoâs judging the score and why. But you can learn how having … Read more
You have the right to remove PMI for many mortgages, once you have paid down your mortgage to a specified point. Ending PMI reduces your monthly costs. Some lenders and servicers may allow removal of PMI under their own standards. The following information explains the legal requirements for mortgages on single-family homes that closed on … Read more
A credit score increase can be a welcome surprise, but it may have you wondering why. Several things can cause your credit score to go up, and they all have to do with changes to your credit report. Some of the most common reasons for an increase in credit score are paying off credit card … Read more
Wondering if it’s cheaper to lease or buy a car? The answer depends on your priorities and factors such as how much you drive. In most cases, buying a car tends to be the cheaper option if you drive a lot and want to use the same car for the long term. However, leasing a … Read more
When purchasing a home with a mortgage, borrowers may encounter Private Mortgage Insurance (PMI) if they offer less than a 20% down payment. PMI is an insurance policy that provides a financial safeguard for lenders against the risk of default. It’s important for homeowners to understand how PMI works and how it’s calculated, especially when … Read more