FHA loan income and employment requirements are an important step in the application process, most lenders do look for two-year work history, but there are some exceptions. FHA loans are government-backed mortgages designed to make homeownership more accessible. With low down payment options and flexible credit requirements, they’re a popular choice for borrowers with lower … Read more
You can refinance an FHA loan to a conventional mortgage, and it may be worth it if you’ll reap a specific financial benefit — like lowering your monthly mortgage payments, saving on overall interest charges or reducing your mortgage insurance costs. However, you’ll also need to meet more stringent qualifying requirements in order to trade … Read more
Financing your house with a mortgage probably means you just signed up to repay hundreds of thousands of dollars. For this reason, lenders wont lend to just any borrower. You can expect a lender to closely review your financial health, including your credit score, before giving the stamp of approval. Heres what credit score is … Read more
Bankrate is always editorially independent. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Our is to ensure everything we publish is objective, accurate and trustworthy. Bankrate logo Founded in 1976, Bankrate has a long track record of helping people make smart financial … Read more
Your FICO® ScoreÎ falls within a range, from 740 to 799, that may be considered Very Good. A 751 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders better interest rates and product offers. In statistical terms, just 1% of consumers with Very Good … Read more
It’s common to apply for an auto loan and be required to put some money down to get everything rolling. But who gets the down payment? Where Does the Down Payment on a Car Go – To the Dealer or the Bank? When buying a new or used car from a dealership and financing it, … Read more
Carrying a balance on your credit card means youâve paid off a portion of what you owe and left the rest for the next billing cycle. There are lots of reasons you might carry a balance. But itâs important to understand how it might affect interest charges, credit scores and more. Carrying a balance on … Read more
If youâre trying to figure out which credit score is most accurate, then you already know there are multiple scores out there. But one credit score isnât necessarily more accurate than another. Itâs more complicated than that. Find out what factors make for good credit scores, how credit bureaus and credit-scoring companies fit in, and … Read more
The issuer has a few standout cards in its portfolio. But customer satisfaction isnt Synchronys strong suit, and its retail cards — like most others — have drawbacks and restrictions. Many or all of the products on this page are from partners who compensate us when you click to or take an action on their … Read more
The idea that you need to carry a credit card balance to improve your FICO® Scores is a myth. Heres what actually matters. Not paying off in full the credit card balance reported on your credit card statement will likely cost you money as interest accrues — and it doesnt help your FICO® Scores. Even … Read more