Small mortgage loans, which are for any dollar amount less than $100,000, can be hard to come by. Still, it’s possible to qualify for one. We’ll walk you through what defines a small mortgage loan, how to find one and why it can be difficult to secure one. We’ve also compiled a list of alternatives … Read more
For the average consumer, underwriting is a term associated with insurance. But business owners need a more expansive definition of the concept, specifically for business loan underwriting. Underwriting is the process of mitigating risk for a fee. It is a credit risk assessment that isnât limited to the insurance industry. Underwriters play a huge role … Read more
If you’re looking to harness the hidden value in your home to fund a home improvement project, consolidate debt, or cover an emergency expense, the financial tool you need could be at your front door. But first you need to find out how much equity you have in your home—which, in part, relies on getting … Read more
Getting approved for a home equity loan without steady employment can seem daunting. However, it is possible for homeowners without a full-time job to qualify for a home equity loan or line of credit. The key is having sufficient income to make the monthly payments. What is a Home Equity Loan? A home equity loan … Read more
The USDA home loan program helps make homeownership affordable for rural and suburban borrowers. USDA loans require no down payment and offer competitive interest rates. However, you must qualify based on income limits, credit, and other factors. Going through USDA pre-qualification is the first step. In this comprehensive guide, we’ll walk through everything you need … Read more
If you’re a military borrower, getting approved for a VA loan with bad credit is possible, regardless of any blemishes in your financial history. The U.S. Department of Veterans Affairs (VA) will even guarantee mortgages for veterans who have overcome a previous bankruptcy or foreclosure. Getting a VA home loan when you have bad credit … Read more
Getting a personal loan can be a great way to pay for large expenses or consolidate high-interest debt. But before taking out a personal loan, it’s important to make sure you can qualify and get a competitive interest rate. Many people are hesitant to officially apply for a personal loan for fear it may hurt … Read more
Brandon Segal was set to make a substantial addition to his historic house in a Philadelphia suburb, but he wasn’t sure how to pay for it. He didn’t have enough equity to cover the six-figure renovation bill with a home equity line of credit or a cash-out refinance. A construction loan struck Segal as complicated … Read more
Having a high debt-to-income (DTI) ratio can make it challenging to get approved for a debt consolidation loan. Your DTI compares your monthly debt payments to your monthly income, and gives lenders an idea of your ability to take on additional debt. The higher your DTI, the riskier you look to lenders. But there are … 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