Ready to Use Home Equity? Answer These Questions First
Topics: Home Buying & Selling
Before you commit to a home equity line of credit or loan, you’ll likely have a discussion with a lender to help you sort through some of the nuances in the tools. Prepare yourself for the conversation by thinking through the questions below.
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Second Vehicle, Are You Ready?
Topics: Auto Loans
Studies show that most American families own two cars. But taking on multiple auto loans is a big decision. How do you know if you’re ready? Use these tips as guides to help you decide if you’re prepared for a second (or third) vehicle.
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How Much Car Can You Afford?
Topics: Auto Loans
When it comes to buying a car, it may seem straightforward. You know what kind of car you need. You know what make and model you want. But, what about the price tag? What really goes into buying a car and how do you know you’re ready for the financial commitment? Use our tips to help you find a car (and payment) that leaves room for other important financial goals, too.
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5 Ways To Prepare For A Trip To The Dealership
Topics: Auto Loans
You’ve done the work ahead of time. You know how much car you can afford, and what kind of car you want. So, the inevitable task is upon you: a trip to the dealership. Whether it’s your first time buying a car or you’re a car-buying veteran, use these tips to better prepare for your visit.
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What Does Debt to Income (DTI) Really Mean?
Topics: Debt & Debt Consolidation, Home Buying & Selling
When lenders sit down to review a loan application, there’s one main question they ask: Is the borrower trust worthy enough to lend to? Many factors influence the lending decision, including your credit score, terms of the loan, employment history, collateral, and, your debt-to-income ratio (DTI).
Your DTI is a percentage calculated by dividing your monthly gross income with your monthly debt payments. Follow the steps below to discover your own DTI.
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Understanding Your Credit Report
Topics: Home Buying & Selling, Build Your Credit
When it comes to taking out a loan, every lender will review many financial elements to determine if you’re a qualified or risky candidate to lend to. Most importantly, every lender will review your credit score. Most of us know it’s important to “have good credit.” But what does that really mean? Below, we break down the important components that make up your credit report.
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