There are instances where a 401(k) loan may become taxable, despite the fact that a 401(k) is typically tax-exempt. Find out when a 401(k) is taxable. 2 min read. A 401(k) loan may be preferable to a hardship withdrawal when borrowing money for urgent short-term needs. Typically, you can borrow no more than $50,000 or … Read more
Government-funded federal student loans have comparatively low interest rates and flexible repayment schedules. But make sure to only take out what you need. You might forfeit free money in the form of scholarships and grants that do not need to be repaid if you borrow the maximum amount that is allowed. Taking out Federal Loans … Read more
You should be glad to know that there are many mortgage lenders that offer home loan programs to self employed borrowers if you are self employed and have encountered any difficulties getting a home loan because of your self employment. The self-employed have access to many different kinds of loan products. Conventional and FHA loans, … Read more
The majority of the items featured here are provided by our partners, who pay us. This could affect the products we write about as well as where and how they appear on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our affiliates, and this … Read more
A non-qualified mortgage provides an alternative if you want to buy a house but are concerned that you won’t be approved for a conventional mortgage. Here, we’ll explain how a non-qualified mortgage operates and assist you in determining whether one is the best option for you. Non-QM loans are mortgages that don’t meet the Consumer … Read more
Borrowing and lending money can be a complex financial process, and co-signing a mortgage is no exception. It is a decision that requires careful consideration, as there are tax implications to co-signing a mortgage that you should be aware of. Before signing up to become a co-signer on a mortgage loan, it is important to … Read more
You might have just received word that your loans were moved to Great Lakes. We’ve compiled some frequently asked questions and responses to help you navigate the transfer process because we know you might have a lot of questions. How Great Lakes Can Help You With Your Student Loans. Great Lakes is a U.S. Department … Read more
When homeowners transfer their residence to a close relative, they might want to do so at a reduced price. In this case, the seller gives the buyer a gift of equity in the amount equal to the difference between the home’s market value and the sale price. The buyer benefits from a gift of equity, … Read more
A typical employee benefit that enables employers to invest in their workforce is tuition reimbursement. Let’s examine what it is and how it functions. In a written contract between an employer and employee, the company commits to helping pay for the employee’s continuing education. These initiatives are provided by businesses to reward staff loyalty and … Read more
My dad passed away two months ago. I’ve been residing in his home for a while now. I was there with my wife to help care for him. My wife also passed away unexpectedly. Now I don’t know what to do about the mortgage. I rely on disability benefits and have nowhere else to live. … Read more