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
Can You Negotiate With Sallie Mae? Sallie Mae, formally known as SLM Corporation, is a major student loan servicer in the United States. They service both federal and private student loans With over 40 million borrowers and hundreds of billions in student loans, Sallie Mae is a dominant force in student lending. As a servicer … Read more
No one opens and contributes to a workplace savings account like a 401(k) or a 403(b) expecting to need their hard-earned savings before retirement. But if you find you need money, and no other sources are available, your 401(k) could be an option. The key is to keep your eye on the long-term even as … Read more
Though paper checks haven’t been entirely replaced yet, in an era where speed, security, and convenience rule, eCheck payment processing has become a necessity in the world of financial transactions. According to NACHA, the ACH network transfers approximately $72.6 trillion in eCheck payments from one account to another every year. With so many eChecks in … Read more
This article is over two years old, last updated on June 9, 2022. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent bnpl articles. Laybuy works like any other BNPL service, allowing them to … Read more
If you’re considering refinancing your home, you might have heard the term “netting your escrow account.” It’s an important concept that can save you time and money. But what does it mean, and why should you care? Let’s break it down and explore the benefits of netting your escrow account with your current lender during … Read more
Homebuyers with cash income can absolutely qualify for a mortgage! Learn the steps to take, what to avoid doing, and much more in this all-in-one guide. “Paying cash” for a house typically means that someone is buying the home outright (without a mortgage). But sometimes, mortgage borrowers want to use cash as a means to … Read more
Marriage is a beautiful union between two people who decide to share their lives together However, it also merges your finances, which can get complicated. One common question that arises is, “Is a wife responsible for her husband’s debt?” The short answer is – it depends. There are several factors to consider when determining if … Read more
Experian is one of the three major credit bureaus in the United States. The other two are Equifax and TransUnion. These credit bureaus compile information about your credit history from various sources and use it to calculate your credit scores. But how reliable is the information Experian provides? Here is a detailed look at Experian … Read more
The look of your credit score can be deceiving. If you’re worried you have a low credit score, it may have something to do with which credit reporting agency you’re using. Two of the major credit bureaus are TransUnion® and Equifax®. While both collect and store your credit information, they do so in slightly different … Read more