Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people) Must attend an eight-hour homebuyer education seminar Must occupy the property as a primary residence Purchase price cannot exceed $679,847 (non-target areas) or $830,924 (target areas) Home must be in an eligible area…
Kevin Dietsch/Getty Images President Donald Trump’s Small Business Administration (SBA)’s nominee for administrator, Kelly Loeffler, was voted in 52-46 by the Senate on Feb. 20, making her the head of an administration that sees over $50 billion in loans, disaster relief, surety bonds and other forms of funding for small…
Key takeaways You can find equipment loans from traditional banks, online lenders and even equipment manufacturers in some cases SBA 504 loans are an option if you’re looking to apply for an SBA loan for an equipment purchase If you can’t get approved for an equipment loan or need an…
Homeowners insurance is a no-brainer for people who purchase a property. In fact, if you finance a home, your lender will likely make it a condition of loan approval. But what about renters? You may or may not be required by a landlord to have similar coverage. Even if your…
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Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
The Covid pandemic crushed immigration and demand for Nova Credit’s tech. Then its founder discovered a second line of business.…
A perfect storm is brewing for millions of federal student loan borrowers, who may experience dramatic increases in their monthly…
As the Biden administration exits Washington, President-elect Donald Trump inherits a federal student loan system that looks much different than…
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Credit Sesame explains why credit in 2025 matters more than ever, how emerging financial trends impact your score, and what you can do to stay ahead in a changing credit landscape. The evolving role of credit in 2025 Credit in 2025 is more than just…
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Key takeaways Governments often borrow money to cover deficits when taxes and other revenues don’t cover expenses. The national debt is the total…
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F or private financial technology companies, last year was a quiet one for fundraising. Fintechs raised $34 billion in 2024, down from $42…
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Key takeaways The Southwest Companion Pass is attainable by using Southwest credit card welcome bonuses to meet the 135,000-point requirement. Applying for a…
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A bank statement is an important document that provides a detailed record of all the transactions that occurred in your bank account over a specific period of time, usually a month. Bank statements allow customers to review all activity on their account, reconcile their balance, spot errors and identify potential…
More affordable interest rates No restrictions on home price, only loan size Down payment assistance available High maximum income Cons: Maximum household income must be within 130 percent of AMI Maximum loan amount is $1,209,750 Maximum household income is $216,580 Minimum credit score of 640 Maximum DTI ratio of 50…
The legacy Capital One Savor Cash Rewards Credit Card is no longer taking new applicants as of July 2024, although existing cardholders can still use the card. Those interested in the legacy Capital One Savor Cash Rewards Credit Card can check out the new Capital One Savor Cash Rewards Credit…
Nico De Pasquale Photography/Getty Images If you’re owed a refund, you’re probably eager for it to arrive. The average tax refund in 2024 was $3,138, and plenty of people use their tax refunds to pay down debt, take care of overdue financial needs, build up emergency savings — or simply…
A sin tax is levied on products or services that are considered harmful, such as tobacco, alcohol, drugs and gambling. Sin taxes are imposed at both the federal and state level as excise taxes. These taxes may be applied at the point of sale, or they can be levied on…
FG Trade/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Federal law requires mortgage lenders to automatically cancel private mortgage insurance (PMI) when the balance of the mortgage drops to 78 percent of the home’s purchase price, or when the loan term is at its halfway point, whichever comes first. You don’t…
martin-dm/ E+/ Getty Images Travel reward credit cards and 0 percent introductory APRs on purchases and balance transfers don’t often co-exist. Having travel rewards and 0 percent APR are incredible perks on their own, but when you combine the two, you have the makings of a credit card with potential…
Key takeaways ESG investors analyze public companies based on the impact the business has on the environment, society and corporate governance. Benefits go beyond the “feel good” factor. Some research suggests that ESG investing may even help boost returns. Screening tools make it easier to evaluate companies based on key…
Key takeaways Renting is a good option for testing options and infrequent trips on the water. Buying is best if you boat frequently and understand the maintenance costs. On average, owning a boat costs anywhere from $5,000 to $8,000 per year, plus the cost of a potential boat loan. If…
Key takeaways Rates on some one-year CDs are higher than what many savings accounts and money market accounts earn. You can find CD rates above 4 percent APY. One-year CD rate alternatives include money market accounts and savings accounts. If you have $10,000 you’re comfortable with locking away for a…
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