Posts Tagged ‘interest rates’

  If you’re looking to establish your credit, one of the first steps that most people will take is to apply for a credit card. Applying for first your credit card can be exciting, but as someone who is unfamiliar with credit cards, it can also be easy to make mistakes during the process. Additionally, […]

If you’ve never owned a car before, it can be easy to underestimate all of the different expenses that you’ll face beyond the initial purchase of the car. Before deciding on a particular car or when making the decision about the best time to purchase one, remember to work the following into your budget as […]

While the majority of borrowers financing a home purchase will choose a traditional fixed-rate mortgage loan, adjustable rate mortgages (also known as ARMs) are also a popular choice. What is an ARM and how can you decide if it’s worth considering?   With a fixed-rate mortgage loan, you have just that: a fixed interest rate […]

     While the majority of borrowers financing a home purchase will choose a traditional fixed-rate mortgage loan, adjustable rate mortgage loans (also known as ARMs) are also a popular choice. What is an ARM and how can you decide if it’s worth considering? With a fixed-rate mortgage loan, you have just that: a fixed interest […]

A home equity loan is when you borrow money against your home’s value. As a result of borrowing against your home’s equity, your home is used to secure the loan and is used as collateral in case you default on payments. A consumer might take out a home equity loan if they’re experiencing significant financial […]

 If your credit card debt is overwhelming, one way to make your debt more manageable is by paying less in interest and more into your principal balance. Even if you don’t have a substantial amount of charges on your credit card, paying less in interest charges can bring you closer to being debt-free. Some of […]

A traditional mortgage payment will consist of both principal and interest, whereas an interest-only payment won’t count towards your principal. This is sometimes an attractive option for first-time homebuyers that otherwise can’t afford their mortgage payments, or are looking to cut down on costs.   The most common types of interest-only mortgages don’t give borrowers […]

If you’ve decided to begin paying off your debts, it can be difficult to decide which loans to pay off first. Here’s how you can prioritize: Highest interest  Do you have credit cards with high interest rates? One way to get rid of debt would involve paying off those debts first, even if they have […]

  A balloon mortgage is a non-amortizing, short-term home loan available to those buying property. These types of home loans usually have lower interest rates and monthly payments. Those with average to poor credit often have a better chance at getting approved for balloon mortgages, as opposed to traditional mortgage options. However, unlike the majority […]

Here’s how you can avoid some common credit card problems: Balance transfers Transferring balances can be a great solution for tackling debt and eliminating high interest rates, but be sure to read the fine print. You may be receiving a great introductory rate, but be sure to find out how long the introductory period will […]