A personal loan allows you to borrow a lump sum of money, in some cases up to $100,000, that you usually repay over a period of one to five years. The interest rate and monthly payments on a personal loan are typically fixed, which means you know exactly how much you owe each month and…
Small personal loans can provide the funding you need to pay for incidentals like car repairs, medical bills, replacement appliances and other unexpected expenses. You may also use a personal loan to pay off a small amount of credit card debt at a lower fixed interest rate. However, many lenders have minimum borrowing amounts of…
A personal loan‘s annual percentage rate, or APR, is the total annualized cost of borrowing, expressed as a percentage of the total loan cost. The APR includes the interest rate in addition to other fees, such as a loan origination fee. Unlike with other loan fees, the interest rate varies based on the prime rate,…
Personal loan refinancing is when you take out a new personal loan to repay the balance of an existing personal loan on better terms. It’s possible to refinance a personal loan to save money on interest, lower your monthly payment or pay off debt faster. That being said, personal loan refinancing isn’t a good idea…
What Are Current Mortgage Rates? Mortgage rates continue to moderate at the start of 2024, according to the Mortgage Bankers Association. The average 30-year fixed rate is 6.76% – a full percentage point lower than just two months ago. Adjustable mortgage rates dipped under 6% for the first time since June 2023. Mortgage…
What Are Current Mortgage Rates? Mortgage rates continue to moderate at the start of 2024, according to the Mortgage Bankers Association. The average 30-year fixed rate is 6.76% – a full percentage point lower than just two months ago. Adjustable mortgage rates dipped under 6% for the first time since June 2023. Mortgage…
Consumers are increasingly turning to unsecured personal loans to achieve their financial goals, whether they want to knock out home improvement projects, consolidate high-interest credit card debt or simply pay for an unexpected car repair. Personal loan balances have ballooned – both at the individual borrower level as well as nationally – at a time…
After three years of COVID-19 forbearance expired in October 2023, transitioning millions of Americans back into student loan repayment has been a logistical nightmare. More than 14 million borrowers had their loans transferred to a new servicer during the pandemic payment pause, according to the Consumer Financial Protection Bureau. Over four million borrowers were tasked…
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. Use…
What Is a Co-Signer Release? Borrowing a student loan with the help of a creditworthy co-signer can boost your chances of approval and help you qualify for better terms, like a lower interest rate. But, importantly, a co-signer is legally obligated to pay off the loan if the borrower fails to pay, and the loan…
