Cash-Out Refinance Loan – Definition, Pros & Cons of Taking One...
There are several ways to tap into your home equity when you need extra money. A cash-out refinance can be an effective source of funding, but it’s not for everyone. Here’s what you need to know about the pros and cons of cash-out refinancing to determine if it’s right for you.
How to Remove Hard Inquiries from Your Credit Report
Credit inquiries can reduce your credit score, which can be a big deal if you’re on the cusp of having good credit. Depending on your situation, you may be able to get some of those inquiries removed from your report. Learn how credit inquiries work and how to remove them from your credit report.
Peer-to-Peer (P2P) Lending – What It Is & How to Qualify...
Peer-to-peer (P2P) lending has become a hot topic in the personal finance community, offering borrowers a way to access loans from peer lenders rather than traditional banks. Learn about peer-to-peer lending, how to qualify for a P2P loan, and the pros and cons of borrowing through a P2P platform.
15-Year vs. 30-Year Mortgage – Comparison, Pros & Cons
Buying a home comes with many decisions, among them the loan term you want. Should you choose a shorter loan term with higher minimum monthly payments or a longer loan term with smaller payments? Learn the differences between a 15-year and a 30-year mortgage, and the pros and cons of either option.
5 Best Small-Business Loans & SBA Lenders of 2021
Millions of small-business owners rely on suboptimal sources of financing — or no financing at all. Whether you’re evaluating your company’s financing options for the first time or looking for a new lender to help grow your business, keep this list of the best small-business lenders close at hand.
Preapproved vs. Prequalified – Difference Between These Mortgage Terms
Getting a mortgage to buy a home is complicated. Hearing terms like “preapproval” and “prequalification” makes it more confusing. What do those terms mean, how does preapproval differ from prequalification, and why would you want to be preapproved or prequalified in the first place?
Blanket Mortgage Loans – Definition, Pros & Cons of Using for...
For real estate investors, juggling multiple property deals and loans can get complicated.
Blanket loans often help to simplify matters by letting borrowers take out a single loan to cover multiple properties. Learn what blanket loans are, their pros and cons, and when to consider using one.
What Is the Current Prime Interest Rate & How It’s Calculated...
When you hear economic news or apply for various loans, you may encounter references to the prime interest rate. The prime rate affects borrowers and the economy in several ways. What is the prime interest rate, how is it set, and why does it matter? Read on for a primer on the prime interest rate.
PPP Loan Repayment & Forgiveness – Common Questions Answered
The Paycheck Protection Program Flexibility Act allows borrowers to use up to 40% of their loans’ proceeds for certain nonpayroll expenses without jeopardizing forgiveness eligibility provided they use the remainder for payroll expenses. But many borrowers still have questions. Get the answers here.
Balloon Payment Mortgage – What It Is & How It Works
A balloon mortgage is a lesser-known type of mortgage that comes with unusual terms, a potential for huge savings, and enormous risk. It’s not right for everyone, but a balloon mortgage can be a great fit under the right circumstances. Should you consider a balloon mortgage? Learn more here.
Should You Get a Personal Loan to Pay Medical Bills?
Medical debt is one of the most common reasons to get a personal loan, but it's not appropriate for every potential borrower. Read on to learn how medical loans work, if it's the right option for you, and some alternatives.
Borrowing From Your 401(k) – 6 Reasons Not to Get a...
When it comes to retirement savings, there’s good news, bad news, and more bad news.
The good news is that most Americans today have access...
