Bella Mertz Use the following calculator to determine the maximum monthly payment (P+I) and the maximum loan amount for which you may qualify. DISCLAIMER: The figures above are based upon VAs debt-to-income ratio which is a ratio of total monthly debt payments (housing expense, installment debts, and so on) to gross monthly income. The VA has determined … Read more
Even for the most financially healthy people, loans can sometimes be difficult to obtain, especially larger ones. However, if you need a loan, options are available to help you get one, including using owned land or land that was gifted to you as collateral. By using land as collateral for a loan, lenders are more … Read more
Knowing the type of interest you pay on a loan can prevent you from making detrimental financial decisions. Many loans charge simple interest, the most attractive form of interest on any loan. Hereâs everything you must know about the simple interest formula, how it works, and when it applies. If you’re shopping for a home … Read more
*Estimated payments above do not include amounts for taxes and insurance payments. Your payments may be greater. APR equals Annual Percentage Rate and assumes a purchase price of $200,000 with a 25% down payment and zero (0) points. Your rate and APR may be higher, all loans priced individually. Rates are subject to change at … Read more
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Bankrate has partnerships … Read more
When applying for a small business loan, you’ll likely come across two main types: amortized loans and simple interest loans. While both offer fixed interest rates and payments, there are some major differences between amortization vs simple interest that business owners must understand when choosing financing. In this comprehensive guide we’ll explain everything you need … Read more
Home equity loans are popular financing options that many homeowners turn to for different purposes. Although home appraisals are usually required to qualify, a full appraisal may not be needed for all loans. It depends on how much you are borrowing, your bank or credit union’s lending criteria, and other factors. Home equity loans allow … Read more
If your credit needs some work, a cosigner could be the difference between your loan application being approved or denied. A cosigner agrees to take on the responsibility of repaying a loan if the primary borrower fails to do so — acting as a safety net for potential lenders. The right cosigner will have an … Read more
Did you know that 120 out of Georgia’s 159 counties are rural? This gives plenty of opportunities for people looking to buy a new home in Georgia to apply for a USDA loan. Georgia USDA loans are backed by the US Department of Agriculture and are aimed at giving rural areas a boost with favorable … Read more
Securing a loan when you already have a high debt-to-income ratio (DTI) can be challenging, but its not impossible. Whether youre looking to consolidate existing debt, fund a major purchase, or cover unexpected expenses, understanding how to navigate the lending landscape with a high DTI is essential. Let’s explore strategies and solutions to help you … Read more