Paying off a credit card doesnt usually hurt your credit scoresâjust the opposite, in fact. It can take a month or two for paid-off balances to be reflected in your score, but reducing credit card debt typically results in a score boost eventually, as long as your other credit accounts are in good standing. There … Read more
Getting a mortgage has become much more challenging in recent years. Increased scrutiny from lenders, rising interest rates, and stricter requirements have made it harder for many people to qualify If you’re considering applying for a mortgage, here’s what you need to know about the current lending environment. Why Has Getting a Mortgage Become More … Read more
To understand available credit, it might help to imagine that youâre borrowing cash from a friend. Say your friend loans you $10 and you spend $4. If the original $10 you borrowed represents your credit limit, the $4 you spent is your current balance. And the $6 you have left is your available credit. Learn … Read more
If you’re looking to buy a house, you’re probably aware that having a good credit score is important for qualifying for a mortgage. But did you know that you have more than one credit score? To make it even more complicated, these separate scores can all be different. Knowing what credit scores mortgage lenders use … Read more
The Conventional 97 loan allows you to buy a home with 3% down rather than the typical 5-20% down without FHA’s permanent mortgage insurance. Good to know: MortgageResearch.com makes money when you are matched with a lender through a web form or other connection opportunity on the site. Learn more about who we are and … Read more
A mortgage is one of the biggest debts you’ll have in your lifetime. While you may be working toward tackling credit debt, a car loan, student loans or all the above, the balance of your mortgage may be a little harder to chip away at. If you’re motivated, you can make an additional mortgage payment … 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
The World Elite Mastercard is one of the most exclusive and prestigious credit cards available But with great rewards and benefits comes great responsibility – namely having the financial means to qualify So who exactly gets to carry this black card beauty? Let’s break down the requirements, Income Requirements First and foremost, you need solid … Read more
Buying a house with no money down might sound too good to be true, but for some home buyers, its possible. If you’re considering this option, make sure to look at the overall costs over the life of the loan to determine whether it makes sense for you. Buying a home is an exciting milestone … Read more
If youre like many Americans whove seen their debts rise in the last year, you might be wondering if your payments are unsustainable — and what you can do about it. If you have a lot of debt, youre not alone: The average debt balance, including big-ticket items like mortgages, student loans and auto financing, … Read more