The holidays are the happiest time of the year. Between the gifts, food, travel, and time spent with family and friends, it’s hard not to love the holiday season. But alongside the cheer, it’s easy to get caught up in the excitement and spend more than you planned – leading to a post-holiday debt hangover that lingers well into the new year.
For many young adults and first-time buyers, the idea of owning a home often feels out of reach. Between headlines about rising prices, the fear of costly down payments, and confusion about loan options, it’s easy to see why people hesitate. But the truth is that a lot of what you’ve heard about mortgages simply isn’t true. Let’s take a closer look at seven of the most common mortgage myths and uncover the facts.
The arrival of fall brings some much-needed relief from the scorching hot days of summer. The weather is cooler, the days are shorter, and winter is right around the corner. As you plan for the season ahead, it’s also a good time to give your home a little extra attention. While cleaning gutters or sealing windows might not sound like fun weekend plans, a little effort now can prevent big expenses later.
Student loan payments are now back in full swing, and while most eyes are focused on young college students, it’s Millennials and Gen Xers who are truly struggling. Finding ways to balance student loans with the rest of life’s obligations can be challenging - especially when raising a family, managing rising prices, and trying to save for retirement.
When most people think about applying for a loan, the first thing that comes to mind is their credit score. While that three-digit number certainly plays a significant role in the approval process, it’s only part of the story. Lenders dig deeper - using several ratios to measure how you manage money and how likely you are to repay the loan.
Carrying a balance on credit cards can feel like running in place. Each month, you make a payment, but because of high interest rates, most of it goes toward interest instead of the principal balance. One of the most popular solutions for getting ahead of credit card debt is through a balance transfer.
Purchasing a home is exciting, but the deeper you get into the process, the more overwhelming it can become. Between house hunting, negotiating, securing financing, and all the paperwork in between, it’s tempting to cut costs (and corners). However, one corner you do not want to cut is the home inspection.
Have you ever noticed your credit card rate inching upward? Or certain loan payments increasing from a rise in interest rates? Chances are that those shifts are the result of changes to the prime rate. The “prime rate” may sound like financial jargon, but it plays a significant role for borrowers and savers alike.
If you’ve owned your home for a while and built substantial equity, you can access that equity with a Home Equity Loan, a Home Equity Line of Credit (HELOC), or a Cash-Out Refinance. Understanding these different loan options will help you determine which one best fits your financial situation.
Summer is here, and the open road is calling! Whether you’re headed to the beach or the mountains or you’re off to forge a new path, a little preparation goes a long way toward ensuring a stress-free road trip. Take time to ensure your car is in top shape, your travel budget is in check, and your plans are mapped out.
