Kim Porter – The News Desk

17Dec

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Money

Compare Current 15-Year Mortgage Rates

National Average Mortgage RatesRates data is based on a borrower with good credit, a conforming loan amount (at least $200,000 but less than the national conforming loan amount), and a loan-to-value ratio of less than 80% (For purchase loans, this corresponds to a down payment of 20% or more). © Zillow, Inc., 2006-2016. Use is subject to Terms of UseU.S. News Expert Insights “Mortgage rates retreated further this week as incoming data on inflation and the labor market continues to point to a cooling economy. In its December meeting, the Federal Reserve elected to hold the federal funds rate at 5.25% to 5.5%, where it's been since July. It appears that the Fed's rate-hike cycle has likely come to an end, so now investors have turned their attention to when rate cuts might com...

Compare Today’s Refinance Rates | U.S. News

17Dec

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Money

Compare Today’s Refinance Rates | U.S. News

National Average Mortgage RatesRates data is based on a borrower with good credit, a conforming loan amount (at least $200,000 but less than the national conforming loan amount), and a loan-to-value ratio of less than 80% (For purchase loans, this corresponds to a down payment of 20% or more). © Zillow, Inc., 2006-2016. Use is subject to Terms of UseU.S. News Expert Insights “Mortgage rates retreated further this week as incoming data on inflation and the labor market continues to point to a cooling economy. In its December meeting, the Federal Reserve elected to hold the federal funds rate at 5.25% to 5.5%, where it's been since July. It appears that the Fed's rate-hike cycle has likely come to an end, so now investors have turned their attention to when rate cuts might com...

17Dec

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Money

Compare Current Jumbo Mortgage Rates

National Average Mortgage RatesRates data is based on a borrower with good credit, a conforming loan amount (at least $200,000 but less than the national conforming loan amount), and a loan-to-value ratio of less than 80% (For purchase loans, this corresponds to a down payment of 20% or more). © Zillow, Inc., 2006-2016. Use is subject to Terms of UseU.S. News Expert Insights “Mortgage rates retreated further this week as incoming data on inflation and the labor market continues to point to a cooling economy. In its December meeting, the Federal Reserve elected to hold the federal funds rate at 5.25% to 5.5%, where it's been since July. It appears that the Fed's rate-hike cycle has likely come to an end, so now investors have turned their attention to when rate cuts might com...

Warning Signs, Examples and How to Avoid (231212loans.predatoryloans) (1 PV)

14Dec

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Money

Warning Signs, Examples and How to Avoid (231212loans.predatoryloans) (1 PV)

If you find yourself in desperate need of money, you're probably eager to get cash the fastest and easiest way you can. This might lead you into the wrong hands, however. Some lenders offer predatory loans in order to take advantage of your financial situation, which will only make things worse for you. Learn how to spot predatory loans, how to protect yourself from them and how to find alternative ways to borrow money.What Is a Predatory Loan?Predatory loans are loans that have unfair, misleading or unaffordable terms that tend to trap consumers in cycles of debt.Lenders who provide these abusive loans may target low-income families, consumers with low credit scores, older adults, small-business owners and communities of color, according to consumer advocates and research from the Center...

13Dec

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Money

Best Medical Loans of December 2023

What Are the Current Personal Loan Rates? The average personal loan rate is 11.54% as of December 6, according to a Bankrate survey. Personal loan interest rates are trending higher over the past several months, increasing by about half-a-point since early July: Personal loan rates vary widely based on creditworthiness. Borrowers with very good or excellent credit scores will see much lower interest rates than those with fair or poor credit. Often, borrowers with bad credit will apply for a secured personal loan that uses an asset as collateral in order to achieve lower rates: Bankrate Averages What Is a Medical Loan?A medical loan is typically an unsecured personal loan that can be used for medical expenses. An unsecured loan does not require collateral. Your l...

How Do Pawnshop Loans Work? | Personal Loans and Advice

5Dec

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Money

How Do Pawnshop Loans Work? | Personal Loans and Advice

If you need cash right away and you own something of value, you might consider taking out a pawnshop loan. These secured loans are relatively quick and easy. You'll head to a pawnshop and bring your property as collateral in exchange for cash. But a pawn loan is different from other types of debts because you're not obligated to repay it, as long as you're OK with forfeiting the collateral. While pawn loans come with some upsides, you should understand all of their features before using one.How Do Pawnshop Loans Work?If you want a pawnshop loan, the pawnbroker will not pull your credit but instead offer you a loan based on the value, condition and resale potential of your item. The amount you get largely depends on the pawnshop, which might lend as little as 15% or as much as 60% of the i...

What Is an Unsecured Loan? | Personal Loans and Advice

19Aug

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Money

What Is an Unsecured Loan? | Personal Loans and Advice

Taking out an unsecured loan may be a good option when you need to borrow money. Unsecured loans are loans and credit cards that aren't backed by an asset, or collateral. Qualification requirements may be strict, and the loan may come with higher interest rates than secured loans. But unsecured loans offer convenience and the ability to borrow money without putting up collateral. Here's what to know before applying for an unsecured loan.What Is an Unsecured Loan? An unsecured loan is a loan supported by your creditworthiness rather than collateral, such as property or a cash deposit. Unsecured loans are sometimes known as signature or good faith loans because only your signature confirms your promise to repay the loan. Credit cards, personal loans and student loans are all examples of uns...

How to Get a Home Construction Loan | Mortgages and Advice

4Aug

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How to Get a Home Construction Loan | Mortgages and Advice

If you've been house hunting and can't find the perfect home, you may decide to have one built for you. This is becoming common as "housing inventory has been sitting around record lows," says Andrina Valdes, CEO at Temul Capital in Texas. "More homebuyers are opting to build when they can't find a good selection of homes in their area." A home construction loan can cover the cost of the land and the home. You have two options: Take out a loan that covers construction and eventually obtain a mortgage, or get a loan that only pays for construction. Compare Top Mortgage Lenders Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit ScoreThe process for getting a home construction loan is ...

Can You Refinance an FHA Loan? | Mortgages and Advice

25Jul

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Can You Refinance an FHA Loan? | Mortgages and Advice

If you have an FHA loan – a mortgage backed by the Federal Housing Administration – you may want to refinance it to reduce your monthly house payment or to achieve other financial goals. Private, FHA-approved financial institutions, including many banks, credit unions and online lenders, issue these loans, which offer two key perks that appeal to many homebuyers: Down payments as low as 3.5%. More lenient credit score requirements than most conventional loans. But FHA loans can be more expensive than conventional loans for some borrowers. Before you start searching for a lender, make sure you understand your FHA refinance options and their requirements. Can You Refinance an FHA Loan?Yes, you can refinance your FHA loan, and you have many different FHA refinance choices. The key is to s...

Complete Checklist of Documents Needed for a Mortgage | Mortgages and Advice

8Jul

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Money

Complete Checklist of Documents Needed for a Mortgage | Mortgages and Advice

When you're buying a home, gathering the paperwork for your mortgage before you apply can be a big task. Tracking down documents can take time, but doing it before you need them could help you get to the closing table faster. You will owe your lender a stack of documents once you apply – and during underwriting – that show you can repay the loan. A mortgage application typically requires a paper trail to verify: Income and employment. Assets and debts. Credit history. Identity. Rental history. Other information, such as divorce, bankruptcy or gift funds. Compare Top Mortgage Lenders Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit ScoreMortgage Application InformationThe fir...