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How to Improve Your Credit in the New Year
A top-tier credit score can offer consumers a wide range of advantages, especially when it comes time to buy a house. From lower interest rates to promotional cash-back offers, higher credit limits, and even approval on desirable credit cards, having good credit can give you, as a homeowner, many benefits, even once your home is purchased.
A Federal Housing Administration (FHA) Loan is a government-backed mortgage loan sponsored by the U.S. Department of Housing and Urban Development (HUD). This backing from the government significantly reduces the risks of these loans to the lender, allowing them to be more lenient in their borrowing criteria while having significantly lower down payments and closing costs than conventional loans.
How to Manage Costs while Renovating a Home During Inflation
There’s no question. Inflation has been hitting the wallets of Americans in big ways and it isn’t for the best. With inflation at the highest it’s been in many homeowners' lifetime, you might be thinking that now is a better time to tackle a home improvement project rather than try to sell or buy a new home.
What Changing Interest Rates Mean for Your Existing Mortgage Loan
If you are one of the millions of Americans who have noticed interest rates changing over the last several months, you’re not alone. Interest rates have adjusted sharply in recent months due to inflation, which had immediate impacts on the homebuying market.
If you are looking into renovating your home to increase its value, or you want to augment your source of retirement income, a home equity loan may be the right choice for you.
Borrowing funds for whatever purpose you need can be simpler and easier this way. But what are the steps you need to take? Starting with the basics of what a home equity loan is, how it works and how to apply for one, to what the home equity loan credit score minimum is to qualify, this blog can answer those burning questions you may have.