Title Is 846 a Good Credit Score? Understanding this Top-Tier Score Having a good credit score is important for getting approved for loans and credit cards with the best terms. But what exactly constitutes a “good” score? And is there such a thing as having too high of a score? Let’s take a closer look … Read more
In short, no, it isn’t bad to have a zero balance on your credit card. Or, put another way, yes, it’s okay to have no balance on your credit card; it can even help your credit score. After all, lenders like to see responsible borrowers, and if you have a credit card with zero balance … Read more
If you’re starting out on the home buying journey, you might have heard of FHA loans, but what does “FHA” stand for and why should you consider this type of loan? A Federal Housing Administration (FHA) loan might be a good option if you have debt or a lower credit score. You might even be … Read more
If you regularly use a credit card, you may have wondered what it would take for your lender to increase your credit limit. In many cases, the answer is simple — all you have to do is ask. Under the right circumstances, a credit limit increase could benefit your credit scores. But how does the … Read more
A debt collector can’t threaten to or have you arrested for an unpaid debt. If you’re sued and you don’t comply with a court order, though, you could be arrested. It’s a violation of the Fair Debt Collection Practices Act (FDCPA) for a debt collector to have you arrested or claim that you’ll be arrested … Read more
Compare monthly payment options from several lenders in under 2 minutes. How much would you like to finance? Having a good credit score opens up a lot of borrowing options If your credit score is around 700, you’re in a great position to qualify for competitive loan offers. But not all loans are created equal … Read more
Mortgage lenders usually verify your employment by contacting your employer directly and reviewing recent income documentation. The borrower must sign a form authorizing an employer to release employment and income information to a prospective lender. At that point, the lender typically calls the employer to obtain the necessary information. Employers are usually happy to help, … Read more
Understanding the components that make up a mortgage payment can help you choose the mortgage option that is best for you. There are seven costs generally reflected in your monthly mortgage payment: principal, interest, escrow, taxes, homeowners insurance, mortgage insurance, and homeowners association or condominium fees. Lets take a closer look at each. 1 Principal … Read more
Paying off student loans is a huge financial commitment that can last decades. With the cost of higher education rising every year, many graduates are stuck making payments well into their 40s and 50s. But what if you could get your remaining student loan balance forgiven after 20 years? This is possible for certain federal … Read more
Taking out a home equity line of credit (HELOC) can be a smart financial move. It allows you to tap into your home’s equity for funds to tackle expenses like home improvements, debt consolidation, or major purchases. But before applying for a HELOC, it’s crucial to understand how it will affect your finances—especially your debt-to-income … Read more