Primarily, loan officers talk to clients when introducing them to the bank or mortgage lender that these officers work for. It is of utmost importance that they extensively discuss the mortgage products and options available and be ready whenever their clients raise a question. Loan officers must learn how to communicate not only with confidence … [Read more…]
Credit bureaus are companies that gather and store credit-related information on just about every adult in the United States. There are three major credit bureaus, or credit reporting agencies: Equifax®, Experian®, and TransUnion®.
The information collected by the credit bureaus is used to make financial decisions that have a major impact on the lives of many Americans. While credit bureaus themselves don’t make lending decisions, lenders typically rely on the information that credit bureaus provide to judge individuals’ creditworthiness.
A credit bureau is a company that gathers credit and debt information about consumers. The three major credit bureaus in the U.S. — Equifax, Experian and TransUnion — also sell credit reports and credit scores to creditors, such as credit card issuers and mortgage lenders.
Credit bureaus keep a database of historical financial records about consumers. This may include information like the total number of credit or loan accounts you have open, your current account balances, and your payment history.
Recommended: Does Applying For a Credit Card Hurt Your Credit Score?
Credit bureaus work by detailing and cataloging credit and loan transactions. The bureaus get their information from a variety of sources, including public records and information reported by lenders.
Not all third parties report to each of the three bureaus, which is why you may see different information on credit reports provided by different bureaus. If a lender wants one report that has information from all three major credit bureaus, they’ll need to get a tri-merge credit report.
Credit bureaus serve an important role in the overall financial markets. While credit bureaus do not make lending decisions themselves, they provide historical financial information on consumers to potential lenders and creditors. This information is used by potential lenders when deciding whether or not to issue you credit, which is why it’s important to regularly review your credit report. It’s also wise to dispute a credit report if there’s any incorrect information.
The Fair Credit Reporting Act (FCRA) regulates the credit bureaus and helps ensure that consumers are protected. One part of the FCRA states that information held by each credit bureau cannot be given to someone without authorization or a valid purpose. The FCRA also has a provision that gives every American the ability to see their credit report for free at least once per year.
As previously mentioned, there are three major credit bureaus in the U.S. While not the only credit credit bureaus in the country, these are the three credit bureaus that dominate the collection and dispersal of information.
Equifax was founded in 1899 and is headquartered in Atlanta, Georgia. With 13,000 employees in total, Equifax operates in 25 countries.
Experian traces its roots back to 1826 and is currently a conglomeration of several different companies. Headquartered in Dublin, Ireland, Experian currently has over 20,000 employees working in 43 countries around the world.
TransUnion was formed in 1968 by the Union Tank Car Company, a railcar leasing operation. Shortly afterward, they acquired the Credit Bureau of Cook County and got into the credit reporting business. TransUnion currently serves over 30 countries on five continents.
Generally speaking, credit bureaus monitor credit and debt information. For example, a credit card issuer might share the number of financial accounts you have, when you opened or closed them, your maximum credit line for each account, and/or your payment history, including if you pay your credit card bills when they are due. They may also collect information on debt collections and bankruptcies in your financial history.
The credit bureaus themselves do not use your information to make any lending or financial decisions. Instead, the credit bureaus simply store and catalog this information. Credit bureaus then sell access to the credit data, allowing lenders and other potential creditors to view information about borrowers for a fee.
When credit card companies report to credit bureaus, the information they provide is added to the credit report for that consumer. This is why credit reports are constantly changing and updating, leading to credit score updates. As such, companies often regularly purchase reports and scores for their current customers.
A credit report shares information about how you as a consumer have handled your credit accounts. It contains identifying information about you, such as names you have used, places you have lived, and your birthdate or Social Security Number.
Additionally, a credit report shows information about the different types of credit accounts or credit tradelines that you have or have had. More specifically, this information can include details on payment history, account balances, and credit limits, as well as any derogatory marks, like late payments, civil lawsuits, or bankruptcies.
Credit reports typically contain the following:
• Identifying information: This includes your name, address, phone number, birthday, and Social Security number. You may also find information on your current and previous places of employment.
• Credit summary: This portion of your credit report details any accounts you have, such as credit cards, mortgages, or other loans. Information will include the date the account was opened, the account balance, the highest balance, the credit limit or loan amount, the payment status, and the payment history.
• Public records: Your credit report also contains information pulled from public records, such as bankruptcies or debt collections. You’ll also see payment defaults and late payments noted.
• Credit inquiries: In your credit report, you can also see any party that’s requested access to your credit report in the last two years. This could come from a credit card or loan you applied for.
When reading a credit report, it’s important to make sure that the information on it is valid and accurate. Incorrect or inaccurate information on a credit report can lead to higher interest rates or being denied for credit.
Recommended: How to Avoid Interest On a Credit Card
Credit reports are primarily used by potential lenders or creditors. This might include banks, credit card issuers, or other lenders. Landlords and employers are two other groups that often pull credit reports.
Lenders and creditors use credit reports to assess how creditworthy you are, which may help them determine whether to extend you credit (and at what rate). In the case of landlords and employers, your credit report may help them determine whether to offer housing or an employment opportunity.
The main role and responsibility of credit bureaus is to provide credit information to potential lenders and creditors, for a fee. In addition to this main business model, credit bureaus also provide access to credit reports to the consumers themselves. This is to remain in compliance with the Fair Credit Reporting Act.
Recommended: Tips for Using a Credit Card Responsibly
In the United States, the big three credit bureaus are Equifax, Experian, and TransUnion. These three companies do also maintain credit information in other countries. However, outside of the U.S., there are also country-specific credit bureaus. For example, there is SCHUFA in Germany and UC in Sweden.
Confused on what credit bureaus vs. credit rating agencies are? While both credit bureaus and credit rating agencies provide information on creditworthiness, there are some key differences to be aware of:
| Credit Bureaus | Credit Rating Agencies |
|---|---|
| Primarily focus on individual consumers | Rate corporations |
| Credit ratings use a 3-digit credit score | Credit ratings use letters, such as AAA or BB |
| The top three credit bureaus are Experian, Equifax, and TransUnion | The major credit rating agencies are Moody’s, Standard & Poor’s (S&P), and Fitch Ratings |
Credit bureaus gather, maintain, and collate credit information about millions of consumers throughout the United States and across the world. Lenders and potential creditors use this information to make decisions about whether to extend credit, as well as how much and at what rate. In the U.S., the three major credit bureaus are Equifax, Experian, and TransUnion. Any new credit card that you open will appear on your credit report maintained by one or more of these credit bureaus.
Whether you’re looking to build credit, apply for a new credit card, or save money with the cards you have, it’s important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.
Not necessarily. Because each of the major credit bureaus uses different sources of information, you may have slightly different information on each credit report. Also, each credit bureau uses the information they have differently in calculating an overall credit score. Because of this, some lenders prefer what is called a tri-merge credit report, which is one report that has information from all three major credit bureaus.
There are hundreds of credit reporting agencies throughout the world, each with a different focus. In the United States, there are three main credit reporting agencies or credit bureaus: Equifax, Experian, and TransUnion.
Although Experian is the largest credit reporting agency, Equifax and TransUnion are generally considered to be just as reliable and accurate. There is not one credit bureau that is necessarily used the most. Instead, it varies by geographical region and the preference of the lender or creditor asking for the credit report.
There may be a variety of reasons why your credit report doesn’t show a credit score. One of the most common reasons is that the credit bureau does not have enough financial information about you to make an accurate decision. When your credit information updates, your credit score updates as well.
Photo credit: iStock/damircudic
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SOCC-Q324-036
Source: sofi.com
SoFi has launched two invite only credit cards. Card details are as follows:
Neither card has any redeeming features from what I can tell.
Hat tip to DDG
Source: doctorofcredit.com
NerdWallet Smart Advice Sweepstakes — Official Rules
NO PURCHASE NECESSARY TO ENTER OR WIN.
A PURCHASE OR PAYMENT WILL NOT INCREASE YOUR CHANCES OF WINNING.
THESE OFFICIAL RULES INCLUDE A MANDATORY ARBITRATION PROVISION AND CLASS ACTION WAIVER THAT GOVERN ANY DISPUTES BETWEEN YOU AND US. PLEASE READ THEM CAREFULLY.
1. Sponsor
These are the Official Rules for the NerdWallet Smart Advice Sweepstakes (the “Sweepstakes”). The sponsor and administrator of this Sweepstakes is NerdWallet, Inc. 55 Hawthorne Street, 10 Floor, San Francisco, CA 94105, U.S.A, (“Sponsor”).
2. Eligibility
The Sweepstakes is open only to legal residents of the 50 states, including the District of Columbia (the “Territory”) who are at least 18 years old, or the age of majority, at the time of entry. Employees of Sponsor, its parent, subsidiaries, affiliates or agencies and suppliers (individually “Entity” and collectively, “Entities”) and the immediate family (i.e. spouse, parents, siblings and children) and household members of each Entity are not eligible. All applicable federal, state, and local laws and regulations apply. Void where prohibited. Participation constitutes the entrant’s full and unconditional agreement to these Official Rules and Sponsor’s decisions, which are final and binding in all matters related to the Sweepstakes.
The Sweepstakes begins on August 5, 2024 at 8:00 am Pacific Standard Time (“PST”) and ends on October 21, 2024, at 11:59 p.m. PST (the “Sweepstakes Period”). Sponsor’s computer is the official time-keeping device for the Sweepstakes.
4. How to Enter: During the Sweepstakes Period, entrant must email their name to [email protected] with the subject line “Advisors” to receive one (1) Sweepstakes entry. Once their entry is received, the Sponsor will email them a link to refer a friend to enter the Sweepstakes (the “Sweepstakes Link”). Entrant will automatically receive a second Sweepstakes entry upon using the Sweepstakes Link to refer a friend.
LIMIT: Limit two (2) Sweepstakes entry per person. Any entry which exceeds this entry limit from the same email address will be disqualified. Any attempt by a person to enter the Sweepstakes more than twice may result in disqualification at the discretion of the Sponsor. Multiple participants are not permitted to share the same email address. Normal Internet access and usage charges imposed by your online service may apply. Sponsor will not accept entries from email addresses Sponsor deems to be potentially harmful to Sponsor’s website. Use of any automated system to participate is prohibited and will result in disqualification. In the event of a dispute as to any registration, the authorized account holder of an email address used will be deemed to be the registrant or player. An “authorized account holder” is the natural person assigned an email address by an Internet access provider, online service provider or other organization responsible for assigning email addresses for the domain associated with the submitted address. Each potential winner may be required to show proof of being the authorized account holder.
5. Drawing and Winner Notification
Sponsor will select one (1) potential Sweepstakes winner in a random drawing of all eligible entries to be held on or about October 22, 2024, at 12:30 p.m. PST. Odds of winning will be determined by the number of eligible entries received. Sponsor is not responsible for and shall not be liable for late, lost, or misdirected entries.
Sponsor will notify the potential winner by email to the address included in the Sweepstakes submission. It is the entrant’s obligation to notify the Sponsor in writing of any change of contact information. The potential winner will be required to respond to the winner notification within forty-eight (48) hours of the time the notification is sent in order to claim his/her prize. If the potential winner cannot be contacted or fails to respond within the required time period or fails to comply with any other term of these Official Rules, that potential winner forfeits the prize. Winning is contingent upon fulfilling all requirements of these Official Rules. In the event a potential winner is disqualified for any reason, Sponsor will award the applicable prize to an alternate winner by random drawing from among all remaining entries from the applicable Entry Period.
The potential winner will receive one (1) Prize. Limit One (1) Prize per person. The Prize is a one (1) year subscription to the NerdWallet+ rewards service and one (1) year subscription to the NerdWallet Advisors investment advising services. The total Prize value is: $399.00
Prizes are non-transferable and no substitution will be made except as provided herein at the Sponsor’s sole discretion. Sponsor reserves the right to substitute a prize for one of equal or greater value if the designated prize should become unavailable for any reason. Winners are responsible for all taxes and fees associated with prize receipt and/or use.
7. Winner Verification
Potential winners of this Sweepstakes are subject to verification by Sponsor. Winners will be required to sign and return a declaration of eligibility and release of liability within the time frame specified by Sponsor. Sponsor’s decisions are final and binding in all matters related to the Sweepstakes. An entrant is not a winner of any Prize unless and until entrant’s eligibility, and/or winner has been verified and entrant has been notified that verification is complete. If selected winner is ineligible or fails to timely return the completed and executed affidavit and release as required by Sponsor, prize may be forfeited and at the sole discretion of Sponsor, and an alternate winner may be selected.
8. Publicity
The acceptance of the Prize by a winner shall constitute and signify winner’s agreement and consent that Sponsor and its designees may use the winner’s full name, city, state, likeness, quotes, photo, submission, entry or prize information (collectively “Submission”) in any manner the Sponsor deems fit including, but not limited to, in connection with Sponsor’s exploitation of the Submission for promotional, advertising or other purposes, worldwide, in any and all media now known or hereafter devised, without limitation and without further payment, notification, permission or other consideration, except where prohibited by law.
9. Release
By participating, entrant agrees to release and hold harmless the Sponsor and its respective subsidiaries, affiliates, suppliers, distributors, advertising/promotion agencies, and prize suppliers, and each of their respective parent companies and each such company’s officers, directors, employees and agents from and against any claim or cause of action, including, but not limited to, personal injury, death, or damage to or loss of property arising out of entrant’s participation in this Sweepstakes or receipt or use or misuse of any prize, as well as or any claim or cause of action based on publicity rights, infringement of intellectual property, defamation, or invasion of privacy arising from any materials entrant has submitted in connection with entrant’s participation in this Sweepstakes.
10. Limitations of Liability
Sponsor is not responsible for: (1) any incorrect or inaccurate information, whether caused by entrants, printing errors or by any of the equipment or programming associated with or utilized in the Sweepstakes; (2) technical failures of any kind, including, but not limited to malfunctions, interruptions, or disconnections in phone lines or network hardware or software; (3) unauthorized human intervention in any part of the entry process or the Sweepstakes; (4) technical or human error which may occur in the offer or administration of the Sweepstakes, including but not limited to errors in the advertising, Official Rules, selection and announcement of the winners and distribution of the prizes or the processing of entries; (5) any inability of any winner to accept or use any prize for any reason; or (6) any injury or damage to persons or property which may be caused, directly or indirectly, in whole or in part, from entrant’s participation in the Sweepstakes or receipt or use or misuse of any prize. If for any reason an entrant’s entry is confirmed to have been erroneously deleted, lost, or otherwise destroyed or corrupted, entrant’s sole remedy is another entry in the Sweepstakes, provided that, if it is not possible to award another entry due to discontinuance of the Sweepstakes, or any part of it, for any reason, Sponsor, in its sole discretion, may elect to hold a random drawing from among all eligible entries received up to the date of discontinuance for any or all of the prizes offered herein. No more than the stated number of prizes will be awarded. In the event that production, technical, seeding, programming or any other reasons cause more than stated number of prizes as set forth in these Official Rules to be available and/or claimed, Sponsor reserves the right to award only the stated number of prizes by a random drawing among all legitimate, un-awarded, eligible prize claims.
Sponsor reserves the right to cancel, suspend and/or modify the Sweepstakes, or any part of it, if any fraud, technical failures or any other factor beyond Sponsor’s reasonable control impairs the integrity or proper functioning of the Sweepstakes, as determined by Sponsor in its sole discretion. Sponsor reserves the right, in its sole discretion, to disqualify any individual it finds to be tampering with the entry process or the operation of the Sweepstakes or to be acting in violation of these Official Rules or in an unsportsmanlike or disruptive manner. Any attempt by any person to deliberately undermine the legitimate operation of the Sweepstakes may be a violation of criminal and civil law, and, should such an attempt be made, Sponsor reserves the right to seek damages from any such person to the fullest extent permitted by law. Sponsor’s failure to enforce any term of these Official Rules shall not constitute a waiver of that provision
11. Disputes
1. Choice of Law: These Official Rules are governed by the laws of the State of California, without regard to conflict of law principles. Subject to this Section 11, which provides that disputes are to be resolved through binding arbitration or small claims court, to the extent that any lawsuit or court proceeding is permitted hereunder, you and Sponsor agree to submit to the exclusive personal jurisdiction of the state courts and federal courts located within San Francisco County, California, for the purpose of litigating all such disputes.
The parties acknowledge that these Official Rules evidences a transaction involving interstate commerce. Notwithstanding the provision in the preceding paragraph with respect to applicable substantive law, any arbitration conducted pursuant to this Agreement shall be governed by the Federal Arbitration Act (9 U.S.C. Secs. 1-6).
2. DISPUTES RESOLVED BY BINDING ARBITRATION. In the interest of resolving disputes between you and Sponsor in the most expedient and cost-effective manner, you and SPONSOR agree to resolve disputes through binding arbitration or small claims court instead of in courts of general jurisdiction (“Agreement to Arbitrate”).
ARBITRATION AGREEMENT
A) CLAIMS TO BE RESOLVED BY BINDING ARBITRATION. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW SPONSOR AND YOU AGREE TO ARBITRATE ANY AND ALL DISPUTES AND CLAIMS BETWEEN YOU AND Sponsor, AND BETWEEN YOU AND OUR FORMER OR PAST EMPLOYEES, DIRECTORS, OFFICERS AND
CONTRACTORS, IN ALL CASES ARISING OUT OF OR RELATING TO THE TERMS OR THE SERVICES, EXCEPT THAT: (1) EACH PARTY MAY COMMENCE AN ACTION IN A COURT OF PROPER JURISDICTION FOR INJUNCTIVE OR OTHER EQUITABLE RELIEF AS CONTEMPLATED IN SECTION 11(H) BELOW (INJUNCTIVE RELIEF) PENDING A FINAL DECISION
BY THE ARBITRATOR, (2) EITHER PARTY MAY BRING AN INDIVIDUAL ACTION IN SMALL CLAIMS COURT IF THE RULES OF THAT SMALL CLAIMS COURT WILL ALLOW IT. IF EITHER PARTY DOES NOT BRING ITS CLAIM IN
SMALL CLAIMS COURT (OR IF YOU OR WE APPEAL A SMALL CLAIMS COURT JUDGMENT TO A COURT OF GENERAL JURISDICTION), THEN THE CLAIMS MUST BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION. YOU AGREE THAT, BY AGREEING TO THE TERMS, YOU AND SPONSOR ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR
TO PARTICIPATE IN A CLASS OR REPRESENTATIVE ACTION TO THE MAXIMUM EXTENT PERMITTED BY LAW. THE TERMS EVIDENCE A TRANSACTION IN INTERSTATE COMMERCE, AND THUS THE FAA GOVERNS THE INTERPRETATION AND ENFORCEMENT OF THIS ARBITRATION PROVISION. THIS ARBITRATION PROVISION SHALL SURVIVE TERMINATION OF THE TERMS OR YOUR RELATIONSHIP WITH SPONSOR FOR ANY REASON.
b) ARBITRATOR. ANY ARBITRATION BETWEEN YOU AND SPONSOR WILL BE GOVERNED BY THE COMMERCIAL DISPUTE RESOLUTION PROCEDURES AND THE SUPPLEMENTARY PROCEDURES FOR CONSUMER RELATED DISPUTES (COLLECTIVELY, “AAA RULES”) OF THE AMERICAN ARBITRATION ASSOCIATION (“AAA”), AS MODIFIED BY THESE TERMS, AND WILL BE ADMINISTERED BY THE AAA. THE AAA RULES AND FILING FORMS ARE AVAILABLE ONLINE AT WWW.ADR.ORG, BY CALLING THE AAA AT 1-800-778-7879, OR BY CONTACTING SPONSOR. ALL ISSUES ARE FOR THE ARBITRATOR TO DECIDE, INCLUDING THE SCOPE AND ENFORCEABILITY OF THIS ARBITRATION PROVISION AS WELL AS OTHER TERMS AND CONDITIONS IN THESE TERMS, AND THE ARBITRATOR SHALL HAVE EXCLUSIVE AUTHORITY TO RESOLVE ANY SUCH DISPUTE RELATING TO THE SCOPE AND ENFORCEABILITY OF THIS ARBITRATION PROVISION OR ANY OTHER TERM OF THESE TERMS INCLUDING, BUT NOT LIMITED TO ANY CLAIM THAT ALL OR ANY PART OF THIS ARBITRATION PROVISION OR THESE TERMS IS VOID OR VOIDABLE. HOWEVER IF PUTATIVE CLASS OR REPRESENTATIVE CLAIMS ARE INITIALLY BROUGHT BY EITHER PARTY IN A COURT OF LAW, AND A MOTION TO COMPEL ARBITRATION IS BROUGHT BY ANY PARTY, THEN THE COURT SHALL DECIDE WHETHER THESE TERMS PERMIT CLASS OR REPRESENTATIVE PROCEEDINGS. FOR THE AVOIDANCE OF DOUBT, THE COURT AND ARBITRATOR SHALL BE BOUND BY THESE TERMS, INCLUDING WITH REGARD TO THE CLASS ACTION WAIVER PROVISION BELOW. IN ANY ARBITRATION, THE ARBITRATOR SHALL FOLLOW THE APPLICABLE LAW. THE ARBITRATOR SHALL NOT HAVE THE POWER TO COMMIT MANIFEST ERRORS OF LAW OR LEGAL REASONING, AND ANY AWARD RENDERED BY THE ARBITRATOR THAT EMPLOYS A MANIFEST ERROR OF LAW OR LEGAL REASONING MAY BE VACATED OR CORRECTED BY A COURT OF COMPETENT JURISDICTION FOR ANY
SUCH ERROR. DURING THE ARBITRATION, THE AMOUNT OF ANY SETTLEMENT OFFER MADE BY SPONSOR OR YOU SHALL NOT BE DISCLOSED TO THE ARBITRATOR UNTIL AFTER THE ARBITRATOR DETERMINES THE AMOUNT, IF ANY, TO WHICH YOU OR SPONSOR ARE ENTITLED. IN ARBITRATION, AND TO THE EXTENT OTHERWISE PERMITTED BY LAW, THE PARTIES MAY EXCHANGE “OFFERS OF COMPROMISE” OR STIPULATE TO JUDGMENTS OR AWARDS IN THE SAME WAY THE PARTIES COULD IN COURT, INCLUDING FOR EXAMPLE, UNDER CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 998 FOR ARBITRATIONS TAKING PLACE IN CALIFORNIA. SUCH OFFERS OF
COMPROMISE SHALL HAVE THE SAME FORCE AND EFFECT AS THEY WOULD IN A COURT PROCEEDING. THE ARBITRATION PROCEEDINGS SHALL OTHERWISE REMAIN CONFIDENTIAL, EXCEPT FOR PURPOSES OF
SEEKING COURT INTERVENTION (IF NECESSARY).
C) NOTICE AND PROCESS. A PARTY WHO INTENDS TO SEEK ARBITRATION MUST FIRST SEND TO THE OTHER, BY CERTIFIED MAIL, A WRITTEN NOTICE OF DISPUTE (“NOTICE”). THE NOTICE TO SPONSOR SHOULD BE ADDRESSED TO: SPONSOR, INC., 55 HAWTHORNE ST, 10TH FLOOR, SAN FRANCISCO, CA 94105 (“NOTICE ADDRESS”) AND MUST BE SIGNED BY YOU PERSONALLY. NOTICE TO YOU FROM SPONSOR MAY BE TO YOU DIRECTLY, OR IF YOU ARE REPRESENTED, TO YOUR LEGAL COUNSEL. THE NOTICE MUST (A) DESCRIBE THE NATURE AND BASIS OF THE CLAIM OR DISPUTE; AND (B) SET FORTH THE SPECIFIC RELIEF SOUGHT (“DEMAND”). IF YOU AND SPONSOR DO NOT REACH AN AGREEMENT TO RESOLVE THE CLAIM WITHIN 30 DAYS AFTER THE NOTICE IS RECEIVED, YOU OR SPONSOR MAY COMMENCE AN ARBITRATION PROCEEDING PURSUANT TO THE TERMS OF THIS ARBITRATION AGREEMENT.
D) FEES. IN THE EVENT THAT YOU COMMENCE ARBITRATION IN ACCORDANCE WITH THESE TERMS, SPONSOR WILL, AT YOUR REQUEST, REIMBURSE YOU FOR YOUR PAYMENT OF THE ARBITRATION FILING FEE, UNLESS YOUR CLAIM IS FOR GREATER THAN $10,000, IN WHICH CASE THE PAYMENT OF ANY FEES SHALL BE DECIDED BY THE AAA RULES. ANY REQUEST FOR PAYMENT OF FEES BY SPONSOR SHOULD BE SUBMITTED BY MAIL TO THE AAA ALONG WITH YOUR DEMAND FOR ARBITRATION AND SPONSOR WILL MAKE ARRANGEMENTS TO PAY ALL NECESSARY FEES DIRECTLY TO THE AAA. IN THE EVENT THE ARBITRATOR DETERMINES THE CLAIM(S) YOU ASSERT IN THE ARBITRATION TO BE FRIVOLOUS OR BROUGHT FOR AN IMPROPER PURPOSE (AS MEASURED BY THE STANDARDS SET FORTH IN FEDERAL RULE OF CIVIL PROCEDURE 11(B) OR ITS SUCCESSOR RULE), YOU AGREE TO REIMBURSE SPONSOR FOR ALL FEES ASSOCIATED WITH THE ARBITRATION PAID BY SPONSOR ON YOUR BEHALF THAT YOU OTHERWISE WOULD BE OBLIGATED TO PAY UNDER THE AAA’S
RULES. IF YOUR CLAIM IS FOR $10,000 OR LESS, YOU MAY CHOOSE WHETHER THE ARBITRATION WILL BE CONDUCTED SOLELY ON THE BASIS OF DOCUMENTS SUBMITTED TO THE ARBITRATOR, THROUGH A NON-
APPEARANCE BASED TELEPHONIC HEARING, OR BY AN IN-PERSON HEARING AS ESTABLISHED BY THE AAA RULES. ANY IN-PERSON ARBITRATION HEARINGS WILL TAKE PLACE AT A LOCATION TO BE AGREED UPON IN SAN FRANCISCO COUNTY, CALIFORNIA. REGARDLESS OF THE MANNER IN WHICH THE ARBITRATION IS CONDUCTED, THE ARBITRATOR SHALL ISSUE A REASONED WRITTEN DECISION SUFFICIENT TO EXPLAIN THE ESSENTIAL FINDINGS AND CONCLUSIONS ON WHICH THE DECISION AND AWARD, IF ANY, ARE BASED. THE ARBITRATOR MAY MAKE RULINGS AND RESOLVE DISPUTES AS TO THE PAYMENT AND REIMBURSEMENT OF FEES OR EXPENSES AT ANY TIME
DURING THE PROCEEDING AND UPON REQUEST FROM EITHER PART MADE WITHIN 14 DAYS OF THE ARBITRATOR’S RULING ON THE MERITS.
E) CLASS ACTION WAIVER. ANY ARBITRATION UNDER THESE TERMS WILL TAKE PLACE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS AND CLASS ACTIONS ARE NOT PERMITTED. UNLESS BOTH YOU AND SPONSOR AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS (EXCEPT AS SET FORTH IN SUBSECTION (F) BELOW), AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING. THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT INDIVIDUAL PARTY’S CLAIM. ANY RELIEF AWARDED CANNOT AFFECT OTHER USERS. IF THIS SPECIFIC SUBPARAGRAPH (E) IS FOUND TO BE UNENFORCEABLE IN ITS
ENTIRETY, THEN THE ENTIRETY OF THIS ARBITRATION PROVISION SHALL BE NULL AND VOID. HOWEVER, IF ONLY A PORTION OF THIS SUBPARAGRAPH (E) IS FOUND TO BE UNENFORCEABLE, THEN THE UNENFORCEABLE PORTION OF THE PROVISION SHALL BE STRICKEN, AND THE REMAINDER OF SUBPARAGRAPH (E) ENFORCED. ANY CLAIMS
OR CAUSES OF ACTION SEEKING RELIEF NOT SUBJECT TO INDIVIDUAL ARBITRATION UNDER APPLICABLE LAW SHALL BE STAYED IN A COURT OF COMPETENT JURISDICTION PENDING COMPLETION OF INDIVIDUAL
ARBITRATION TO THE MAXIMUM EXTENT PERMITTED BY LAW. NOTHING IN SUBSECTION (E) OR (F) BELOW SHALL PREVENT YOU OR SPONSOR FROM PARTICIPATING IN A CLASSWIDE SETTLEMENT OF
CLAIMS. YOU AND SPONSOR AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS
OR REPRESENTATIVE PROCEEDING.
F) MASS, COLLECTIVE, OR BATCH ARBITRATION. YOU AND SPONSOR AGREE THAT ADMINISTRATION OF ANY MASS, COLLECTIVE OR BATCH ARBITRATION SHALL BE GOVERNED BY THE TERMS SET FORTH IN THIS
SUBSECTION (F). You and SPONSOR agree that a “mass, collective, and/or batch arbitration” includes, but is not limited to, instances in which you and others are represented by a law firm or collection of law firms or legal counsel that has filed more than 150 arbitration demands of a substantially similar nature against SPONSOR, alleging similar or identical claims or causes of action, within 180 days of the arbitration demand filed on your or others behalf, and the law firm or collective of legal counsel/law firms seeks to simultaneously or collectively
administer and/or arbitrate all the arbitration demands together. If more than 150 arbitration demands of a substantially similar nature, alleging the similar or identical claims or causes of action, are filed against Sponsor by the same law firm or collection of legal counsel/law firms within 180 days of one another, each
arbitration demand must be filed, administered, arbitrated, and resolved pursuant to this subsection (f).
Specifically, in order to increase the efficiency of resolution for any mass, collective, and/or batch arbitration, in the event 150 or more similar arbitration demands against Sponsor are filed within a 180 day period pursuant to the above, the arbitration provider shall (i) group the arbitration demands into batches of no more than 150 demands per group; and (ii) provide for resolution of each group or batch as a single arbitration with one set of filing and administrative fees and a single arbitrator assigned per group or batch. You and Sponsor agree to cooperate in good faith with the arbitration provider to implement the aforementioned protocol for mass, collective, and/or batch arbitrations with regard to resolution, fees and administration. If subsections (f)(i)
or (f)(ii) are not enforced, or the arbitration provider refuses to follow these specific mass, collective, and/or batch arbitration protocols, then each arbitration demand must be filed, administered, arbitrated, and resolved individually, or the parties agree to seek out a different, mutually agreeable and widely-recognized arbitration organization agreeable to follow subsections (f)(i) or (f)(ii). If any other portion of this subparagraph (f) is found to be unenforceable, then the unenforceable portion of the provision shall be stricken, and the remainder of
subparagraph (f) and this agreement shall be enforced to the maximum extent permitted by law. Mass, collective, and/or batch arbitrations shall otherwise be subject to all other substantive and procedural terms contained within this agreement.
g) Discovery. Discovery and/or the exchange of non-privileged information relevant to the dispute will be governed by the AAA Rules.
h) Injunctive Relief. Notwithstanding the Arbitration Agreement, you acknowledge that money damages are an inadequate remedy for unauthorized access to or use of the Services or your breach of any provisions in the Terms relating to SPONSOR’s intellectual property rights, and any such breach would result in irreparable harm to SPONSOR. Accordingly, in the event of any such actual or threatened breach, SPONSOR may, in addition to any other rights or remedies available to SPONSOR at law or equity, seek specific performance or injunctive
relief without the posting of a bond.
i) Modifications. If SPONSOR makes any future change to this Arbitration Agreement (other than a change to the Notice Address) after your enrollment in a service or program or your use of the Services, you may reject any such change and require SPONSOR to adhere to the language in this arbitration provision as written at the time of your enrollment or purchase if a dispute between us arises, by sending us written notice within 30 days of the change to the Notice Address provided above. You acknowledge and agree that, in the event you reject any
future change, your account with SPONSOR shall be immediately terminated and you will arbitrate any dispute between us in accordance with the language of this provision as written at the time of your enrollment or purchase.
j) Severability and Enforceability. If an arbitrator or court decides that any part of this Section 11 is invalid or unenforceable, the other parts of this Section 12 shall still apply. If the entirety of this Section 12 is found to be unenforceable, then the parties agree that the exclusive jurisdiction and venue described in Section 11 shall govern any action arising out of or related to the Terms, and that the remainder of the Terms will continue to apply.
12. Entrant’s Personal Information
13. Winners List
Source: nerdwallet.com
“We also securitized $303 million of primarily re-performing loans subsequent to quarter-end,” Knutson added. “Finally, we once again benefited from our $3.3 billion interest rate swap position, which generated a net positive carry of $29 million.” The company’s securities portfolio grew to $863.3 million with the addition of $175.5 million in Agency MBS. MFA also … [Read more…]
Typically taking between five and 14 days, credit card refund timing can vary based on a number of factors. This includes the speed at which the merchant processes the refund, how soon you requested the refund, and the length of time it takes for your credit card issuer to credit the amount to your account.
If you’re feeling antsy about how long it takes for a refund to appear on your credit card, however, there are ways that you can speed up the process.
When you make a purchase on a credit card, your credit card issuer pays the merchant and the amount will go onto your account for repayment. Since the issuer technically paid for the purchase, any requests for a refund will go back to the credit card account. In other words, you won’t receive other forms of payment like cash for refunds when you use a credit card since you didn’t directly pay for the purchase.
There are two types of refunds — one for purchases and ones due to fraud.
• In the case of purchases, you’ll deal with the merchant with whom you made the purchase. Once the merchant approves the refund, the credit card company will process it. Then, the amount refunded will show up on your credit card statement. The credited amount may not appear in the current billing cycle if you made a return in between billing cycles (the end of a billing cycle also tends to be when credit card companies report to credit bureaus).
• As for fraud, these are charges to your account that you didn’t authorize. Most credit card companies will offer some form of fraud protection as long as you notify them within a certain period of time, usually 60 days. Once the issuer is notified of the fraudulent transaction, it will reverse the charges. You’ll then receive a credit for the amount charged, or the charge will get taken off your account completely, assuming you’re not falsely disputing a credit card charge.
Not all credit card refunds will take the same amount of time. To get an idea of how a particular merchant accepts and processes returns, you can look at the merchant’s refund policy. Some items to note in this statement include:
• Types of refunds offered: Some merchants may be lenient on their return policies, while others may only offer store credit for returns, for instance.
• Refund times: Merchants typically state when they’ll issue a refund, such as within a few business days or weeks.
• How to make a return: Check to see whether you can make a return in person or if you can ship back the item. If you’re shipping, make sure to see if you or the merchant pays for shipping.
After the refund is processed, you’ll need to wait for your credit card company to post the refund or credit to your account. How long this takes will also vary depending on the issuer.
A credit card refund usually takes between five and 14 days after the customer makes the request.
Keep in mind that the rules for refunds can vary depending on your credit card issuer and how long it takes the merchant to process the refund. The faster the merchant processes the refund, the faster it will hit your account.
However, the above timeframe assumes that the merchant agrees to process the refund. If you were to dispute a credit charge, the process of getting a refund could take much longer. Notifying your credit card company as soon as you can is helpful because it could take some time for them to complete their investigation — they have up to 90 days to do so.
Recommended: What is a Charge Card
The two main factors that determine how long a credit card refund takes is the type of refund you’re requesting and where you made the purchase.
As mentioned before, credit card disputes — whether for fraud or a credit card chargeback request for a product you never received — may take longer compared to refunds for purchases. Plus, you’ll need to make sure you contact the credit card company within 60 days of the billing or fraud dispute. From there, the issuer should have the dispute resolved within two billing cycles, or up to 90 days.
Different merchants have varying refund policies — the longer it takes the merchant, the longer it will take for the refund request to reach your credit card issuer. Here’s a sampling of some of the refund policies at popular retailers:
• Amazon: It can take up to 30 days to process a refund. After an item arrives at the fulfillment center, credit card refunds are typically processed within three to five days. Once a return is processed, the funds will appear in your account, usually within three to five business days.
• Square: Any merchant that uses Square to accept purchases will take two to seven business days to process a refund. It can then take an additional two to seven business days for the refunded amount to appear in your account, resulting in a total credit card refund time of nine to 14 business days.
• Walmart: Refunds tend to take up to 10 business days to process.
The good news is that there are some ways you can help to speed up the refund process.
Some retailers have multiple ways to return items, and certain methods have faster processing times than others. For instance, many major retailers process refunds faster (in some cases, immediately) if you make a return in-person at one of their store locations instead of mailing back the item.
You may be able to receive expedited shipping for returns or faster refund processing times if you belong to a merchant’s loyalty program. Often, you also may be able to get a refund faster if you opt to receive a store credit instead of getting a refund issued to your credit card.
Refunds are typically treated as an account credit. There’s no credit card refund issued in the form of cash since you borrowed the money from the credit card issuer to make the purchase in the first place.
While the purchase is still billed to your account, you’re technically responsible for payment. If you made the purchase, paid it off once the billing cycle ended, and then requested a refund, you’d get a credit to your account. Due to credit card rules, the refund does not count as a partial payment.
No matter how long you wait for a refund, it’s important to manage your account wisely and make sure you’re using a credit card responsibly so you don’t end up overextending yourself. As long as you pay your bill by the due date, you won’t risk hurting your credit score while you’re waiting for your refund.
Recommended: When Are Credit Card Payments Due
Credit card companies usually won’t refund any interest or fees you may have paid because you carried a balance for a purchase that you’re now trying to get a refund for. Similarly, if you made a purchase while you were overseas and were charged a foreign transaction fee, you most likely won’t get a refund for that either.
When it comes to rewards, whatever you earned for the purchase will get deducted from your earnings after the refund is processed and posted to your account. You end up with a negative rewards balance if you redeemed all of your points before requesting a refund.
Credit card refunds typically take between five and 14 days. Being aware of how credit refunds work helps you to understand how to keep better track of your credit card statements and rewards earnings. It can also help you to determine which credit cards are better used for certain situations.
Whether you’re looking to build credit, apply for a new credit card, or save money with the cards you have, it’s important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.
Your rewards will be deducted from your current balance after your request for a refund is processed.
A refund may take up to seven or even 14 days to appear on your credit card statement. This timeframe can vary depending on your card issuer, the merchant, and what type of refund request it is.
Credit card refunds typically aren’t instant. This is because it takes time for the merchant and credit card company to process it.
A delayed refund typically won’t hurt your credit as long as you continue to make on-time payments and are generally responsible with your credit card usage.
Photo credit: iStock/MBezvodinskikh
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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SOCC-Q324-017
Source: sofi.com
Update 8/9/24: Deal is back until 10/2/2024
Amex Marriott Bonvoy Brilliant | Bonvoy Bevy
American Express has increased the signup bonus offer on the premium Marriott Bonvoy Brilliant card and the mid-level Marriott Bonvoy Bevy card:
Offers are valid through May 1, 2024.
Bonvoy Brilliant:
Bonvoy Bevy
These are both best-ever offers. A lot of people will find these interesting for the signup bonus and benefits, despite the high annual fees.
Use a friend’s referral link to apply so that they’ll get some free points as well. Check out these Things To Know About Amex before applying. We’ll add this to our list of Best Current Credit Card Signup Bonuses.
Source: doctorofcredit.com
In recent years, new technologies have been rolled out to increase efficiency, lower costs, and improve the borrower experience during the home loan process.
For example, there’s now digital verification, which allows borrowers to electronically share their financial information with lenders, including bank account and payroll data.
This in turn allows banks/lenders to verify income, employment, and assets without bugging the borrower and asking for mountains of paperwork.
At the same time, it improves accuracy and reduces mistakes since the information is coming direct from the source.
Still, many feel that getting a mortgage is a major pain and stuck in the stone age. While I agree, I’d be lying if I said it hasn’t gotten easier.
However, it still takes a month or more to get a mortgage, which in today’s day and age just doesn’t seem good enough.
That brings me to a new study that was conducted by Fannie Mae to better understand adoption rates of said technologies.
Fannie surveyed recent home buyers who purchased a property with a mortgage acquired by the company between January 2023 and November 2023.
One of the survey’s key findings was that the use of personal-touch-only channels when obtaining a mortgage (for example in-person or by-phone) have “significantly declined.”
In other words, fewer mortgage applicants are picking up the phone to speak to a loan officer. And probably a lot less are driving down to the local bank branch.
They simply don’t have to thanks to today’s digital mortgage applications, electronic disclosures, eSigning, and that digital verification process mentioned above.
There’s also been a shift in basic human behavior. How often do you call someone as opposed to text them?
Even my own dad has caught on, and now typically sends a text message as opposed to making an old-timey phone call.
With the younger generations, a phone call seems ghastly. Who would do that?!
And while I’m not in total disagreement, I do appreciate the odd call every once in a while. Call me nostalgic.
Anyway, as you can see in the illustration above, in-person channels are becoming a lot less common, while a hybrid approach is taking center stage.
As recently as 2020, in-person was the leading channel to get a mortgage. Today, it’s just 33%, with hybrid coming in at 55%.
There’s also online-only, which accounts for just 12% (mind you it has nearly doubled from 2020).
And chances are it could probably triple in the next five years from current levels, despite seeming to hold steady the past few years.
Fannie noted that “homebuyers’ interest in a more or fully digital mortgage process (where homebuyers could complete more or all steps online) is very high.”
It has jumped from 63% in 2021 to 90% as of 2024.
In terms of why borrowers are gravitating to the digital options, 75% said it “accelerates the process” and 71% said it “makes the process easier”
Simply put, no likes getting a mortgage. It’s not fun. So making it easier and faster is a no-brainer.
That brings me to my story, which I only thought to tell after stumbling upon the Fannie Mae study.
When I applied for a rate and term refinance back in 2021 to get out of my 5/1 ARM and into a boring old 30-year fixed, I used a mortgage broker.
Full disclosure, it was an old colleague of mine. But here’s what kind of nuts. I didn’t call him once. Not a single time.
We didn’t speak on the phone at all during the process, and I’m not even sure if I sent him a text to be honest.
Instead, we just emailed back and forth to get through the process. And it wasn’t because I’m savvier or something.
It just wasn’t necessary to chit chat or get on a phone call. If I had a question (or he had one), an email would be fired off.
Aside from being convenient for both parties, everything was also documented. Everyone knows it’s good to get stuff in writing, especially when dealing with a home loan.
In addition, I could go back to a previous email if I forget what he said, or what he needed.
For me, it’s simply more efficient and there’s accountability. And since we’re pretty much all plugged in anyway, emails are read fast and responses come quickly as well.
While this worked out great for me, despite being unintentional, I fully understand that some folks like face-to-face interaction.
And some at least want to make a phone call and hear the other person’s voice. Or discuss things more in-depth.
That’s all good. You can continue to do that if it suits you, or like many others, take a hybrid approach.
Sometimes a phone call just makes sense. It’s easier to verbally explain something, especially if you’re new to the whole mortgage thing.
In the future, I wouldn’t be surprised if things go a step further, and you only communicate with a chatbot or something.
Granted, that’ll be bittersweet if it leads to attrition and layoffs. And there’s still something special about human touch, especially with emotional decisions like home buying.
But I don’t think anyone would be upset if the refinance process is whittled down to days instead of weeks.
Source: thetruthaboutmortgage.com
Mortgage rates plunged in the week ending Aug. 8 to their lowest since February 2023. The rapid decrease is likely to set off a wave of refinancing.
The 30-year fixed-rate mortgage plummeted 31 basis points, averaging 6.29%. That’s the lowest since the week ending Feb. 2, 2023.
Crucially, the 30-year mortgage has fallen more than a percentage point since a stretch that lasted from late August to the middle of November last year. It topped out at 7.95% the week before Halloween.
If your current mortgage rate is significantly higher than today’s rates, you could decrease your monthly payment by refinancing. But would it be wise to refinance now, or should you wait in the hope that interest rates will fall even more? Here’s how to approach the decision.
First, review your loan account to see your current interest rate, and compare it to current mortgage rates. If you got a mortgage last year from late August through November, there’s a good chance that current rates are about a percentage point lower.
Reducing the mortgage rate by a percentage point can save lots of money. Take the example of a $300,000 loan. With a 7.5% interest rate, a 30-year loan costs $2,098 a month in principal and interest. With a 6.5% rate, monthly principal and interest costs $1,896 a month, or about $201 less.
Is a difference of one percentage point enough to justify refinancing? It depends on who you ask. Some financial advisors say you should consider refinancing if you can shave half a percentage point off your current rate. Others recommend holding out until you can reduce your rate by two percentage points. Others recommend numbers between those two ends of the spectrum.
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Finding a lower rate is the first of several steps. “Refinancing a mortgage involves several factors beyond just the interest rate,” said Steven Calio, a certified financial planner with CSG Financial in Dover, Delaware.
Those factors include closing costs, break-even time and how long you expect to keep the home.
If you bought a house just a few months ago, you may remember the closing costs. They’re fees for services that are necessary to close the mortgage: loan origination, taxes and other costs. They tend to run about 2% to 6% of the loan amount.
To figure out whether refinancing is worthwhile, you can calculate the break-even period, which is how long it takes for the monthly savings to exceed the closing costs. You calculate this by dividing the closing costs by the monthly savings.
For example, let’s say you’ll pay $7,000 in closing costs to save $200 a month. When you divide 7,000 by 200, the quotient is 35. That means it will take 35 months for the accumulated monthly savings to equal the closing costs. In mortgage lingo, that’s a 35-month break-even period.
If you believe you’ll keep the home past the break-even period, you’re likely to save money in the long run by refinancing. NerdWallet’s refinance calculator can help.
If you have sufficient equity, the lender might allow you to add some or all of your closing costs to the loan amount. That minimizes the amount you’ll have to pay at closing, but it increases the size of the loan and thus the monthly payments.
Alternatively, the lender could absorb most of the refinancing closing costs in return for charging you a higher interest rate — one that’s lower than on your current mortgage, but higher than the rock-bottom rate you could get by paying closing costs out of pocket.
This strategy makes it less onerous to refinance again in the future if rates fall again, said Noah Damsky, a chartered financial analyst for Marina Wealth Advisors in Los Angeles. “If you were paying $10,000 in upfront costs each time, it could mean refinancing is a one-time thing,” he explained.
A few weeks ago, economic forecasters for Fannie Mae, Mortgage Bankers Association and National Association of Realtors predicted that the 30-year mortgage would gradually fall, finally dipping below 6.5% in the middle of 2025.
However, this decrease wasn’t gradual, and it happened about nine months ahead of the predictions.
The suddenness of this drop raises a couple of questions: Will rates bounce back and take away some of this week’s progress? Will they fall even more?
And these two questions bring up a bigger one: Should you pass up this opportunity to refinance and, instead, wait for mortgage rates to fall even more? After all, no one wants to pay the closing costs to refinance now, and then pay the closing costs to refinance again.
“One of the biggest roadblocks to making a decision is the upfront cost to refinance,” Damsky said. “You would hate to refinance now, only for interest rates to drop another 1% later this year, then want to refinance again.”
The decision is a judgment call that only you can make. We’ll leave the last word to Gene Thompson, a certified financial planner and director of financial planning for Iconoclastic Capital in Rochester, New York: “Homeowners should base their decisions on what they’re paying now and how much they’ll save by refinancing. Don’t get caught up in guesswork about the future.”
Explore mortgages today and get started on your homeownership goals
Get personalized rates. Your lender matches are just a few questions away.
Source: nerdwallet.com
With its beautiful beaches and a tourism-driven economy that supports a robust rental market, Panama City has become an attractive destination for investors and homebuyers alike.
Add to that a growing luxury market — particularly for new developments and high-end condos that offer modern amenities and beach access — and more moderate prices than other Florida coastal cities like Miami or Naples, and you’ve got a clear winner.
So what does your money buy you in this slice of the Florida Panhandle?
Well, we’ve just gotten word of a newly listed, 5-bedroom mansion with 100 feet of waterfront that just came to market for $2,150,000.
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Listed with Sean Casilli and Alice De La Penha, who are part of The Real Estate Experts Team with Coldwell Banker Realty, the Panama City house has 5,510 square feet of luxe interiors, 5 bedrooms, 4 full baths and one half-bath.
Perfect for boating enthusiasts, the home has 100 feet of deep bayou boatable waterfront and comes with a boat dock with both boat and jet ski lifts.
Boasting fine finishes like Italian marble and crown molding in select rooms, the elegant home welcomes visitors with a grand foyer with 21.6-foot ceilings and stunning Austrian Crystal Chandeliers.
Throughout the 5,510-square-foot home, we find both intimate, family-friendly spaces and classy, formal areas that have been elegantly appointed.
The spacious family room has a fireplace and large windows overlooking the water.
See also: The 2nd priciest house for sale in the Fort Walton Beach region is an ode to luxury – See inside
The gourmet kitchen is a chef’s dream, equipped with granite countertops, an island with breakfast bar seating, and decorative crown molding. There’s even a breakfast nook to take in the great views of the pool and bayou.
The primary bedroom is a private retreat, highlighted by an 84-inch gold gilt dome, a private balcony overlooking the pool, and an elegant fireplace. The primary bathroom doesn’t leave much to be desired and is equipped with a whirlpool tub, separate shower, double sinks, and built-ins for a mini-fridge, microwave, and TV.
The exterior is just as impressive, with a circular driveway, a large fountain, a spacious two-car garage, and an in-ground pool with lakefront views.
The property also features a boat dock with boat and jet ski lifts for boating enthusiasts, making the most of its waterfront location.
While $2.150 million is no pocket change, it’s considerably less than what buyers pay in other Florida coastal cities like Miami or Naples, where comparable waterfront properties command $10+ million asking prices. If this one happens to be in your budget, make sure to reach out to agents Sean Casilli and Alice De La Penha at Coldwell Banker Realty.
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Home of the Week: A $49M waterfront home with mega yacht dock is Jupiter’s most expensive listing
Source: fancypantshomes.com