Getting married changes your financial life in profound ways. It’s not just that you’re living together or sharing expenses—you don’t need marriage to do that. It’s that your legal and tax statuses change. Furthermore, even though your credit score is unique, your spouse’s financial input may influence the decisions you make in the future. It’s … Read more
Debt-to-income ratio, or DTI, measures your total monthly debt against your total monthly income. Lenders use your DTI in addition to your credit score to determine whether to offer you a loan and, if so, at what interest rate. Debt-to-income ratio for car loans is represented by a percentage. Generally, the lower this percentage is, … Read more
Three significant credit bureaus gather data regarding the borrowing patterns of their clients and use it to produce comprehensive credit reports for lenders. Another organization, FICO, developed a proprietary algorithm that scores borrowers numerically from 300 to 850 on their creditworthiness. While some lenders look at one or more of the borrower’s credit bureau reports, … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
You filed for bankruptcy, completed your case, and left your old debt behind. You’ve heard there is a way to have the bankruptcy removed from your credit report and are now prepared to begin rebuilding your credit. In the modern world, your value is measured based on your credit report. It’s the only way a … Read more
Increased spending on home, auto and student loans has pushed household debt to record levels in the U. S. Find out ways to keep your budget from busting. In today’s world it’s easy to find yourself drowning in debt. Between student loans, car payments credit cards, and mortgages, it can feel like you’re constantly treading … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. Due to the significant cost of purchasing a car, many people choose to finance their purchase with an auto loan. It usually takes good credit to be eligible for a loan, so if … Read more
Typically, mortgage lenders demand that you include additional funds, known as “impounds” or “escrows,” with your principal and interest payments. ” And sometimes, they owe you an escrow refund. Escrow refunds are a common event, checks that come after a mortgage is refinanced or paid off. Sometimes escrow refund checks can total several thousand dollars. … Read more
You may have heard of Credit Karma—even the name sounds good—but you’d be surprised at how many borrowers are taken aback when their Credit Karma score turns out to be lower than the FICO scores that their lender utilizes. Read on to find out why. And most importantly, what you need to know about credit … Read more