Nowadays, with cash-back rates reaching as high as 6%, credit card rewards can yield a substantial amount of money, particularly when purchasing expensive items. Thats great for you as a consumer—but theres also a lot of ambiguity for you as a taxpayer. Unfortunately, the Internal Revenue Service (IRS) doesnt say much directly on the treatment … Read more
Home equity loans are a valuable tool for homeowners looking to tap into the equity they’ve built in their property. But before you dive in, it’s crucial to understand the different home equity loan terms available and how they can impact your financial situation. Home Equity Loan Terms: A Breakdown Home equity loan terms typically … Read more
Fact Checked Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. If you’ve ever missed a payment and witnessed the devastation it can cause to your credit score, you are undoubtedly well aware of the detrimental effects of doing so. However, it’s unlikely … Read more
Construction loans provide funding for you to build a home. Since they are financing the construction of a new home, mortgage lenders may have different guidelines because they are financing the creation of something that does not yet exist. So, the lenders dont have solid collateral to back the loan. Construction is also a risky … Read more
We are an independent, advertising-supported comparison service. Our objective is to empower you to make confident financial decisions by giving you access to interactive tools and financial calculators, publishing original and unbiased content, and allowing you to conduct free research and information comparisons. Issuers that Bankrate has partnerships with include American Express, Bank of America, … Read more
In summary, a low credit score may indicate to potential lenders that you have had credit difficulties in the past or that you are only starting your credit history. Approval for loans with reasonable interest rates could be challenging until you’ve had some time to establish your credit. You can move forward by being able … Read more
If your credit score is 736, you are right in the middle. As of 2021, the average FICO score for a consumer in the United States is 714, according to Experian, with a score between 670 and 739 generally regarded as good. An average credit score of 736 indicates that you typically pay your bills … Read more
If you’re experiencing a financial crisis, you might consider just not making mortgage payments at all. It’s a choice that some people might find useful in trying circumstances, but overall, it’s a poor choice. The rationale is that it will probably cause you to lose your house and have long-term effects on your credit. As … Read more
Buying a house is a major milestone and your credit score plays a crucial role in determining your eligibility for a mortgage. But with different credit scoring models floating around it can be confusing to understand which one Rocket Mortgage uses. Worry not, homebuyers! This guide will demystify the credit score model used by Rocket … Read more
We are an independent, advertising-supported comparison service. Our objective is to empower you to make confident financial decisions by giving you access to interactive tools and financial calculators, publishing original and unbiased content, and allowing you to conduct free research and information comparisons. Issuers that Bankrate has partnerships with include American Express, Bank of America, … Read more