[ad_1] Key Takeaways A U.S. News survey of newlyweds explores how Americans pay for weddings – and how they feel about their financial choices. The majority of newlyweds took out debt (via credit cards and/or loans) to help finance their wedding costs. Cash and contributions from parents or family were still the largest source of…
[ad_1] Deciding how much to put down on a house requires balancing liquid cash with other priorities, but economic conditions in the post-pandemic world and a hot housing market have added a twist. In today’s seller’s market, you need every advantage you can muster to make sure you are in a good position to land…
[ad_1] If you have a 30-year mortgage, you may feel as though you’ll always be paying off your house. But you can slash the time it takes to pay off your mortgage using a number of strategies, many of which don’t require spending a lot of extra money. Getty Images When it comes to paying…
[ad_1] Getty Images Mortgage protection insurance can be an attractive option for homeowners looking to protect their investment and keep family members from financial troubles. This type of insurance policy covers your remaining home loan balance if you die. However, mortgage protection insurance, also known as mortgage life insurance, isn’t right for everyone. Here’s a…
[ad_1] Key Takeaways In a U.S. News survey of divorced people, nearly 20% say debt was a contributing factor in their divorce. A majority of those who remarried have chosen to keep debts separate in their new marriage. Almost half of respondents experienced a drop in their credit score after divorce. For many couples, marriage…
[ad_1] Key Takeaways Homebuilders may partner with preferred lenders to offer competitive mortgage rates, closing cost credits, sales price reductions or other incentives. A builder’s incentives may be offset by higher fees and interest rates from the preferred lender, which can make the deal less attractive. You’re not required to use your builder’s preferred lender,…
[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: 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 No-credit-check personal loans don’t consider a borrower’s personal creditworthiness in the approval process. These types of loans exist, but they often come with high interest rates and fees. You may be better off choosing a standard personal loan from a lender that caters to borrowers with less-than-great credit. There are several alternatives…
[ad_1] Fannie Mae has announced an update to its HomeReady mortgage product that could save certain borrowers thousands of dollars on upfront homebuying costs – but this offer is only available for a limited time. In a lender letter issued Wednesday, the mortgage giant unveiled a temporary $2,500 credit for low-income homebuyers that can be…
