What Is the Conforming Loan Limit? | Mortgages and Advice

[ad_1] The conforming loan limit is the maximum amount of money a homebuyer can borrow using a conventional mortgage that’s eligible for purchase by Fannie Mae and Freddie Mac. The Federal Housing Finance Agency, which oversees Fannie and Freddie, adjusts the baseline limit each year based on the national average home price, with higher loan … Read more

Are Private Student Loans Worth It? How to Decide | Student Loans and Advice

[ad_1] Paying for college can seem like an insurmountable feat for students and their families amid the rising cost of a university education – especially for those who can’t afford to pay out-of-pocket after maxing out federal student loans, grants and scholarships. When federal aid comes up short, private student loans can be one way … Read more

How to Avoid Foreclosure | Mortgages and Advice

[ad_1] A recent job loss or unexpected medical bill can cause you to fall behind on your mortgage payments. If you fall too far behind, your lender may start foreclosure proceedings, meaning you could lose your home. Going through foreclosure is stressful and can negatively impact your credit score for up to seven years. Fortunately, … Read more

Should You Get a Divorce Loan? | Personal Loans and Advice

[ad_1] Divorce can be emotionally and financially traumatic, potentially generating debt as you and your spouse split income and assets. Taking out a loan to tackle some of that debt might seem like adding gasoline to the fire, especially if your income will be dramatically slashed once the divorce is final. But depending on your … Read more

Historical Mortgage Rates: See Averages and Trends by Decade | Mortgages and Advice

[ad_1] Mortgage rates have been historic in their own right during the past few years. The average 30-year fixed rate reached an all-time record low of 2.65% in January 2021 before surging to 7.79% in October 2023, according to Freddie Mac. But when someone points out that mortgage rates are painfully high right now, a … Read more

How to Get a Low Interest Rate on a Personal Loan | Personal Loans and Advice

[ad_1] The average interest rate on a two-year personal loan is 11.23%, according to the Federal Reserve. But depending on your credit history, income and other factors, you may be able to qualify for a rate in the single digits. Here’s a look at things you can do to score a lower interest rate on … Read more

What Is an Unsecured Loan? | Personal Loans and Advice

[ad_1] 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 … Read more

7 Loan Apps That Let You Borrow Money Fast | Personal Loans and Advice

[ad_1] If you ever find yourself in a financial bind and need instant access to cash to cover an unexpected expense, there’s an app for that. Whether you call them loan apps, borrow-money apps, cash advance apps or payday advance apps, these online lenders can provide financial lifelines to people in a penny pinch. They’re … Read more

What Documents are Required For Getting a Personal Loan? | Personal Loans and Advice

[ad_1] When you apply for a personal loan, your application is approved based on whether you meet requirements including a solid credit score, favorable debt-to-income ratio and more. In order to prove you qualify, many lenders require that applicants submit supporting documentation alongside their application. Make sure you are ready to provide these documents, which … Read more

How to Get a $20,000 Personal Loan | Personal Loans and Advice

[ad_1] If you need to borrow a sizable amount of money – such as $20,000 or more – a personal loan may be your best option. Personal loans allow you to borrow money for just about any purpose, and perhaps borrow more than you could with a credit card. Plus, the interest rates are fixed, … Read more