FHA loans are one of the most popular loans for homebuyers because they have various benefits such as: But can your credit score affect the home-buying process for an FHA loan? Throughout this article, we’re going to walk you through everything you need to know regarding how your credit score affects FHA loans. We’ll also … Read more
A credit card can be a great way to break large purchases into smaller, more manageable payments. However, carrying a credit card balance from month to month isnt generally the smartest option. Paying off debt is usually seen as a positive financial move. However, some people worry that paying off an installment loan like a … Read more
Your credit scores can differ for many reasons, including which scoring model is used, which credit report is used and timing of when score updates are made. Your credit scores can vary depending on the type of credit score, the credit report it scores and when the score is calculated. Its common for someone to … Read more
Applying for a credit card can impact your credit score, especially if you apply for multiple cards in a short period. Also, opening a new account can have an effect on your credit score. However, if you use your credit wisely, your score will eventually go up. Applying for a credit card can temporarily lower … Read more
The advice in this article is offered by the team independent of any bank or credit card issuer. This article might have content from our partners, and there are rules that apply to any deals that you click on or link to from this page. as of posting date, but offers mentioned may have expired. … Read more
How you manage your credit card accounts can affect multiple factors that determine credit scores, including your payment history, credit utilization rate, average age of accounts and credit mix. It’s important to know that getting a credit card, using it (or not), and closing it can all have big effects on your credit scores. Credit … Read more
Your car’s down payment affects your loan amount and monthly payment and can even change what auto loan terms you qualify for. How much of a down payment do you need to buy a car? The Guides Auto team will help you understand your choices and find the best auto loan rates. Putting down $5,000 … Read more
The FHA loan program, insured by the Federal Housing Administration, has long been a popular option for homebuyers, especially first-time buyers. But over the last decade or so, the percentage of buyers obtaining FHA financing has been on a downward trend. The Declining Popularity of FHA Loans At its peak in 2009, FHA loans accounted … Read more
It’s getting harder to decide whether it’s better to put extra money into a savings account or pay off more of your mortgage now that savings rates are finally getting decent. Here’s what you need to consider. Many homeowners will long for the day when they’ll finally be mortgage-free. Making mortgage overpayments is one way … Read more
While 25-year mortgages are the most common among Canadian homeowners, 30-year mortgages have their appeal, too. With a 30-year mortgage, you’ll get lower monthly payments and more financial flexibility than with a mortgage that amortizes over 25 years. But you’ll almost certainly pay more for your home overall. Here is some information about 30-year mortgages … Read more