Bella Mertz In a recent blog post, we explained FICO® credit scores. Plus, we offered tips on how to track your credit score. This time around, weâll focus on loans for people with âbad credit. â. You might be experiencing financial hardship as the tax season approaches and holiday shopping picks up speed. Itâs tempting to get … Read more
The choice between buying and leasing a car is often a tough call. On the one hand, buying involves higher monthly costs, but you own an asset—your vehicle—in the end. However, a lease entails a never-ending cycle of payments for the vehicle, even though the lease has lower monthly payments and allows you to drive … Read more
The answer is a bit nuanced. While it’s technically possible to get an FHA loan with a 500 credit score, it’s not the most straightforward path to homeownership. Let’s delve into the details and explore your options. FHA Loan Credit Score Requirements: A Closer Look The minimum credit score requirement for an FHA loan is … Read more
Mortgage options for those with collections are limited, but they do exist. Find out more about how collections impact your mortgage application process, what you can do about past collections, and best practices for obtaining a mortgage despite collections. Buying a house is a significant milestone in life, and it’s natural to wonder if collections … Read more
Your credit score may be obtained for free from your credit card issuer, another lender, or a non-profit housing or credit counselor. Credit reporting companies may charge you a fee for your credit scores. You actually have more than one credit score. Credit scores are calculated based on the information in your credit reports. Your … Read more
Having more credit cards than the average person, having less total debt, having lower credit card balances, and having higher personal loan balances are some of the noteworthy characteristics found in the data on customers with perfect FICO® Scores. An 850 FICO® Score☉ can be likened to a perfect game of bowling. Although bowling a … Read more
It’s no secret that a college education is expensive. Student loans are a common solution for individuals and families looking to manage that cost. However, student loans are a significant financial commitment, just like any other kind of debt, and they may negatively affect your credit scores in the long run. Heres what to know … Read more
You should determine whether you owe the debt, determine a reasonable payment schedule, and present the debt collector with a repayment proposal before engaging in negotiations. The answer is a resounding yes! You can negotiate with debt collection agencies to remove negative information from your credit report. In fact, if you’re negotiating with a collection … Read more
Being a homeowner is one of the most fulfilling experiences for most people. Given the significant financial commitment, it makes sense to obtain a home loan to cover the entire cost of the purchase. This eliminates the need to save for years in order to save up the money needed to buy a house, and … Read more
Even the most carefully chosen mortgage may no longer be a fit if your financial situation changes, for example due to an increase in income or a disruption in it. You can choose to break your mortgage contract in certain situations, but doing so will result in a penalty for early mortgage payments. Lenders use … Read more