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…
Stock charts and their accompanying data can appear complex and may be difficult to understand for new investors. The good news is that with a little help, these charts — and the information they contain — can be useful during your research process to more easily identify attractive investment opportunities.…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways You may be able to access funding from an emergency loan on the same day you apply, depending on the lender and your finances. Most emergency loan lenders will send you the funds within a few business days of approval. Checking…
Key takeaways Prescreened credit card offers target qualified consumers based on their credit score, credit utilization, and location. Advantages of presecreened offers include saving time when comparison shopping. Disadvantages include increased junk mail and the risk of identity theft. You can choose to opt out of prescreened offers.…
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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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Key takeaways A gift letter for a mortgage verifies the source of a homebuyer’s gifted down payment funds. The gift letter proves that the funds are in fact a gift and don’t have to be repaid, and that the giver isn’t involved in the purchase…
Dept Managmnt
Key takeaways Governments often borrow money to cover deficits when taxes and other revenues don’t cover expenses. The national debt is the total…
Banking
From Mount Olive, North Carolina to Anchorage, Alaska, each of the top 10 banks on Forbes’ ranking of 100 publicly traded banks are…
Credit Cards
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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praetorianphoto/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Leasing a car before buying allows you to test the car before committing to a loan — and potentially save on monthly payments. Before buying a leased car, assess its condition and future resale value. In some cases, it may be cheaper to…
Key takeaways Rewards checking accounts offer cash back on debit card purchases and/or competitive interest rates on account balances. Many rewards checking accounts have caps on earning potential, such as limiting a high APY to a small balance or restricting monthly cash back eligibility. Before opening a rewards checking account,…
Key takeaways While credit unions function differently than banks, most offer traditional unsecured personal loans. The maximum interest rate offered by federal unions is capped at 18 percent. Credit unions require you to have membership, and requirements vary significantly based on the size and location of the credit union. Unlike…
Be a first-time homebuyer Purchase a primary residence within city limits Earn no more than 80 percent of the local AMI Pros and cons Caret Down Icon Pros: If you buy a home through the Enhanced Homebuyer Assistance Program and sell within ten years, your sales proceeds will be limited.…
MoMo Productions/Getty Images Key takeaways Many financial institutions — including online lenders, banks and credit unions — offer personal loan amounts of $15,000. Before taking out a $15,000 personal loan, review your budget to see if you can afford the monthly payments. You should also consider alternative financial solutions that…
Key takeaways Personify stands out for dedicated customer service, but its steep maximum interest rates make it a risk for most. Upstart uses AI technology to determine eligibility and is best for advanced underwriting criteria. Due to Personify’s higher rates and lower loan amounts, Upstart is the better choice for…
Key takeaways Credit unions may offer lower mortgage rates and fees, but often lack the in-person branches and digital services that banks do. Bigger banks might offer a wider variety of loan products and don’t mandate that you become a member. It may be easier to get a mortgage with…
Jaskaran Kooner/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways FHA loan closing costs are typically 2 percent to 6 percent of a home’s purchase price. They’re charged in addition to the down payment requirement. FHA closing costs include an upfront mortgage insurance premium (MIP), lender and third-party fees and prepaid expenses.…
Key Takeaways Sometimes you need to cancel an application because you applied for the wrong card, another card has a better sign-up bonus or you realize you don’t need it. Canceling a card can be difficult because many credit card applications are approved or declined within minutes. You may be…
Debt can be overwhelming and, for many, a source of constant stress and anxiety. It’s a financial challenge that can seem impossible to conquer. However, there is hope and a path to financial freedom through debt counseling. By partnering with a professional debt counseling service, you can gain the tools…
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