Mortgages allow consumers to purchase properties and pay for them over time. Each payment you make represents a combination of interest and principal repayment. The amount of interest youll pay depends on your mortgage rate. Regardless, the majority of your mortgage payment pays a larger proportion of interest in the earlier stages of your loan, … Read more
Not sure if you can change the down payment amount before closing on your new home? Whether you want to pay more or less, it’s definitely possible to change how much you put towards your down payment. However, doing so can have some consequences for your transaction. In this post, Chris Schmidt and our Houston … Read more
Here’s something you should know about us: We hate credit scores. Yep—they’re bogus. But even though they’re nothing more than a measly “I love debt” score, you shouldn’t ignore them altogether . . . especially since your score is tied to your credit report. Even if you’re debt-free and don’t care what big banks and … Read more
When it comes to how often you should apply for a card, thereâs no one-size-fits-all answer. But there are some considerations that can help you figure out whatâs best for your situation. Before you apply for a new card, its important to understand how it might impact your credit. And considering factors like interest rates, … Read more
Afterpay has become an increasingly popular way for shoppers to pay for purchases in installments. But how does Afterpay determine if you qualify to use their service? The short answer is that Afterpay does not perform a full credit check. However, they do have an approval process that aims to assess a customer’s ability to … Read more
Dealing with debt collectors can be an unpleasant and stressful experience. You may feel pressured to make payments you can’t afford or agree to terms you don’t fully understand. While it’s important to take debt collection seriously, you also have certain rights when it comes to interacting with collectors. Knowing what not to say is … Read more
Is Paying Off a 30 Year Mortgage in 15 Years the Same as a 15 Year Mortgage? Many homeowners face the decision between getting a 30-year or 15-year fixed mortgage. While the 30-year option offers lower monthly payments, the 15-year mortgage allows you to pay off your home faster and save substantially on interest costs. … Read more
Paying a stranger to add you as an authorized user on their credit card may seem like a good way to build credit. But the practice of buying tradelines is considered to be deceptive by creditors, and it may not have the impact youre hoping for. Buying a tradeline is one way to improve your … Read more
Having a card account closed by the issuer can hurt your credit scores. Use your cards regularly to avoid it. 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 website, but this does not influence our evaluations or ratings. … Read more
Figuring out when you’ll pay off a loan can be confusing. But with the right information you can easily calculate your loan payoff date. In this article, I’ll explain what factors impact your payoff date and walk through the step-by-step process to figure it out. What Impacts Your Loan Payoff Date? Several key details about … Read more