[ad_1] Key Takeaways Buy now, pay later services let you pay for a purchase over time, including biweekly or monthly installments. Some buy now, pay later services come without interest or fees, but it can depend on the company, your credit and the cost of your purchase. Be cautious when using buy now, pay later…
[ad_1] Key Takeaways Discover will stop accepting applications for student loans starting Feb. 1, 2024. Discover plans to sell its student loans business. Existing Discover Student Loans borrowers should keep an eye out for any changes. Discover Financial Services will no longer accept student loan applications as of Feb. 1, 2024, after announcing in November…
[ad_1] Key Takeaways: Cash gifts from others can be used toward a down payment or home purchase. In order for a cash gift to be eligible, mortgage lenders require a gift letter that specifies the amount of the gift, its source and that there is no expectation of repayment. Each type of mortgage loan has…
[ad_1] Key Takeaways: There’s no set rule for how much of your budget should go toward student loans, but a monthly payment that exceeds 10% of your income could be burdensome. You may be able to reduce payments by applying for an income-driven repayment (IDR) plan or refinancing your student loans for new terms. Making…
[ad_1] Key Takeaways: Refinancing makes sense if you can score a lower interest rate or repay your mortgage faster. Refinancing isn’t the best choice when interest rates are high or if your income and employment are unstable. Before refinancing, it’s important to evaluate your financial goals and determine your break-even point. If you’re looking for…
[ad_1] Key Takeaways: Bank statement loans are a type of non-qualified (non-QM) mortgage, which may make it easier for self-employed borrowers to buy a home. Lenders can use previous bank statements to vet potential borrowers if W-2s and pay stubs aren’t available or don’t accurately portray their income. Interest rates may be higher with bank…
[ad_1] Key Takeaways: There are many reasons why an underwriter may deny your mortgage loan, such as a low income, an unsatisfactory credit history or a recent change in employment. If an underwriter denies your mortgage loan, try going to a smaller lender or addressing the issues that caused the denial in the first place….
[ad_1] Key Takeaways: Rent-to-own deals let a buyer rent the home for a time before committing to the purchase. Whether the deal is a lease option or lease purchase agreement affects the level of commitment. Both buyer and seller must watch out for risks that come with this type of arrangement. What if renting actually…
[ad_1] Key Takeaways If you find an error on your student loan bill, call your loan servicer immediately and ask the servicer to fix it. If you’re having trouble getting in touch due to long wait times, try email or online chat features. If you’re unsuccessful, you can file a complaint with the Department of…
[ad_1] National Average Mortgage Rates Rates data is based on a borrower with good credit, a conforming loan amount (at least $200,000 but less than the national conforming loan amount), and a loan-to-value ratio of less than 80% (For purchase loans, this corresponds to a down payment of 20% or more). © Zillow, Inc., 2006-2016….
