When you receive a lump sum from an inheritance, tax refund, or sale commission, you probably think about the best way to spend the money. One factor to take into account is paying off debt, including credit card, mortgage, and auto loans. By avoiding the interest you would otherwise pay on the loan, paying off … Read more
You probably have a lot of questions about what determines whether you can obtain favorable terms for your mortgage or even get approved for one at all as you prepare to start the mortgage and homeownership process. Your credit score is one of the key factors a mortgage lender will take into account when determining … Read more
For a number of reasons, personal loans can be an important component of your financial planning. Maybe you’re trying to consolidate your debt or pay off some credit cards. If you can get approved, a personal loan may be a good way to help you achieve your goals. Personal loans are based more on your … Read more
Refinancing a reverse mortgage may or may not be the best choice for you, depending on a variety of factors. (Getty s). Homeowners 62 years of age and older may be able to access home equity through reverse mortgages. A reverse mortgage can be refinanced, just like a regular mortgage, and doing so can occasionally … Read more
A significant announcement made by the Biden administration on Tuesday will assist millions of borrowers of student loans in receiving loan forgiveness and relief. Here are the 5 biggest takeaways: Millions of student loan borrowers will continue to get student loan forgiveness President Joe Biden isn’t done cancelling student loan debt. This significant announcement shows … Read more
Wells Fargo, one of the nation’s top lenders for residential properties, is aware that our clients hold us to a high standard. We know that they expect more than just simple financing. They demand courtesy, knowledgeable service and support, and most importantly, they anticipate that we will conduct our lending operations in a fair and … Read more
Can you refinance a balloon mortgage? Thankfully, you can. Additionally, unless you’re just rolling in money, you might have to refinance. A balloon mortgage is a home loan with a brief term, typically between 5 and 7 years, after which the remaining balance is due in a single, sizable payment, known as a balloon payment. … Read more
Using a VA Purchase or VA Refinance Loan, you can look at your anticipated monthly payment using this VA mortgage calculator. Estimate your VA Loan payment: Your Estimated Monthly Payment: Principal & Interest Taxes Insurance VA Funding Fee Loan Totals: Purchase Price Down Payment VA Funding Fee Total Loan Amount Ready to see a more … Read more
For a $25,000 auto loan, Redstone Federal Credit Union’s rate beats the national average by up to 8%, qualifies for a Datatrac Great Rate Award, and could save you as much as $192 over the course of the loan. Datatrac is an impartial, independent research company that has tracked deposit and loan rates, fees, and … Read more
Occasionally, a lender will forgive a portion of a borrower’s debt or lower the principal amount owed. Any debt forgiveness is subject to the general tax rule that the amount is treated as taxable income to the borrower. There are some exceptions to this rule, but prior to 2007, the borrower was obligated to pay … Read more