In the pursuit of homeownership, affordability and accessibility are essential considerations. This is particularly true for borrowers navigating the real estate landscape for the first time or with limited financial means. Among the options available, FHA loans can help ease the financial barriers of buying a home. However, additional monthly costs and FHA housing standards … Read more
What really happens if I lose my job before closing on a mortgage? Losing your job within days of purchasing a home in New Jersey or another state can affect mortgage loan approval. While getting a new job may alleviate this, it does not guarantee that your lender will give you the loan. At Curbelo … Read more
Now that we’ve defined debt-to-income ratio, let’s figure out what yours means. Generally speaking, a good debt-to-income ratio is anything less than or equal to 36%. Meanwhile, any ratio above 43% is considered too high. The biggest piece of your DTI ratio pie is bound to be your monthly mortgage payment. The National Foundation for … Read more
Spot loans are designed to provide speedy financing to borrowers facing an unexpected expense — but that fast cash often comes at a high price. If youre considering a spot loan, be sure to understand the pros and cons before pulling the trigger. Hey there, friend! If you’re wonderin’ whether takin’ out a Spotloan is … Read more
When applying for a mortgage, lenders will carefully examine your financial history to determine if you are likely to repay the loan. An important part of this process is reviewing your bank statements and credit reports. This allows the lender to verify your income, assets, debts, and overall ability to manage finances responsibly. But do … Read more
A FICO® Score is a type of credit score typically ranging from 300 to 850 that companies use to evaluate your creditworthiness. Your FICO® Scores can impact your eligibility and offers when you apply for a loan or credit card and affect other areas of your life, like your options when renting or getting insurance. … Read more
According to the Government of Canada, a credit score is a 3-digit number that represents how likely a credit bureau thinks you are to pay your bills on time.1 It can be an important part of building your financial confidence and security.1 For example, building a good credit score could help you get approved for … Read more
In the past, certain actions like making a payment or acknowledging that you owe the debt could restart the clock on the limitations period. This created a problem where the statute of limitations could be constantly restarted. The issue is often referred to as “zombie debt.” In 2019, changes in the law aimed to protect … Read more
Some spouses keep their finances separate and under wraps, but other spouses are entirely transparent about their financial situations. In fact, some partners know so much about their spouses’ financial data that they could open credit cards in their spouses’ names. However, is it legal to open a credit card under a spouse’s name? Marriage … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Bankrate is always editorially independent. While we adhere to strict , this post may contain references to … Read more