The Best Personal Loans for Bad Credit: 2019

Poor credit can happen despite your best intentions. When your credit is less than great., you may find yourself struggling to get back on your feet. Recovering is possible, however, and there are a number of options available to you if you need assistance. The first step on the road to recovery is to examine the cause of your situation. Look at your circumstances to discover what led you to have a…

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What Is APR? A Simple Explanation

When shopping around for a personal loan or a credit card, you will likely see lenders and banks advertise the annual percentage rate (APR) of their products. An APR is the total cost of borrowing that you will pay each year. The percentage includes the interest rate as well as any associated fees. APR is useful because comparing this rate between different lenders provides a more complete picture of the value of…

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The Best Personal Loans With No Origination Fee: 2019

As you shop around for personal loan options, you’ll find that some lenders charge what they call “origination fees.” An origination fee covers the lender’s costs of processing your loan application and underwriting. The fee may also safeguard the lender against any interest rates lost if you pay off the loan early. Some lenders don’t charge origination fees. Instead, they fold the costs of processing your loan into your APR. An APR,…

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Top 3 Online Business Lenders

Looking for a business loan you can get without breaking your back? Traditional loans tend to include a long and at times complicated procedure you must endure before being approved. And even after giving all the proper documentation and waiting the required period, you’re not even guaranteed to be approved at all.  Luckily, you no longer have to go down the traditional route of walking into a bank and handing over your…

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FHA Loan vs. Conventional Loan: Which one is right for you?

Definitions FHA loan is a mortgage which is guaranteed by the Federal Housing Administration (FHA). A conventional loan refers to a traditional home loan without any government backing. For an FHA loan, the FHA agrees to pay for a large portion of the balance of a loan if a borrower defaults on the loan, this is what’s meant by the FHA insuring the loan. This insurance means the lenders can provide FHA…

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FHA Loan Vs. VA Loan – Main Differences

FHA loans and VA Loans are both home loans that are backed by a federal agency. The Federal Housing Administration (FHA) back FHA loansThe Department of Veteran Affairs (VA) back VA loans. While both loans are backed by a federal agency, neither agency actually provides the loans. Instead, they insure a large portion of the loans, paying the lenders if the borrower defaults. The insurance of the federal government helps make both…

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How to Remove PMI on an FHA Loan

To remove PMI (private mortgage insurance) on an FHA loan, one must have paid off at least 20% of the equity on their home. To pay off 20% of the equity means that the balance of the loan needs to be at most 80% of the value of the home. The value in this calculation can be based either on the value of the home at the time it was purchased or…

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How to Get an FHA Loan

An FHA loan is obtained through the Federal Housing Administration mostly by applicants who do not qualify for conventional loans under current market conditions. The minimum qualifying conditions require a 580 Fico Score and a minimum 3.5% downpayment (cash-in-hand). There are also other contingencies such as not having been bankrupt for the last 2 years, have not been foreclosed on for at least 3 years, and the housing being applied for must…

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Invoice Financing vs. Invoice Factoring

Both invoice discounting and invoice factoring are means for a business to use money owed to them to get working capital now. Table of Contents: Side by Side Comparison:Main DifferencesWhy Choose One Over the Other?What to Consider Side by Side Comparison: Invoice financing is commonly used to refer to invoice discounting, which is a loan or line of credit which uses money owed to the borrower as collateral.Invoice factoring is a means of alternative financing in…

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The Difference Between a Roth IRA and a 401(k)

What's Covered in this Article Side by Side ComparisonSimilaritiesYou Might Not Qualify for a 401(k)Employed? Here's What to Look forLimitations Side by Side Comparison An IRA (individual retirement account) is a kind of savings account that an individual can invest in for their retirement. A 401(k) is also a savings account, but one that workplaces often offer to help their employees save for retirement. Similarities The income invested and annual growth is untaxed for both investments, but both options…

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