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Mortgage Q&A: “What is the easiest type of mortgage to get?”

Relative to other types of loans, it can be difficult to get approved for a mortgage.

After all, mortgage lenders typically require a tri-merge credit report, steady income and employment, and assets in the bank.

They don’t just take your word for it like they might on a credit card application.

All of those items must be documented to ensure you’re a creditworthy borrower capable of financing a piece of real estate.

Easiest Types of Mortgages to Get, Ranked

1. FHA loan (lowest combination of credit score and down payment)
2. Conforming loan (lower min. down payment but need 620 FICO)
3. VA loan (zero down and no min. FICO but must be active duty/veteran)
4. USDA loan (zero down, no min. FICO but must be rural location and there are income limits)
5. Jumbo loan (usually need 10%+ down payment, 680+ FICO, and asset reserves)

FHA loans are the easiest mortgage to get because of the 3.5% down payment and 580 minimum FICO score required.

Conforming loans are a close second, despite a lower 3% minimum down payment, due to the higher 620 minimum FICO score required.

Both USDA and VA loans don’t require a down payment and technically don’t have a minimum FICO requirement, but are more specialized products. Thus not as easy.

Jumbo loans are typically the hardest to get because they are larger (loan amounts) and aren’t backed by Fannie/Freddie or the government.

Tip: If you already have a mortgage, a streamline refinance can be even easier to qualify for.

The Answer Depends on What Your Issue(s) Might Be

Before we get down to the nitty gritty, I should note that there isn’t a universal answer to this question.

It depends what may make obtaining a home loan difficult to begin with.

Are your credit scores not all that good? Do you have limited income? No money in the bank? Or perhaps a combination of all these items?

The first thing you should do is self-evaluate. Take a look at your income (and employment history), your credit report (and scores), and your assets.

Would you lend yourself a mortgage? Funnily enough, even if you wouldn’t, there’s probably a lender that would!

Jokes aside, take the time to do this to see where you stand before you apply for a mortgage.

Easy street isn’t necessarily the best avenue to take when it comes to home loan financing.

Now let’s discuss particulars based on some common issues.

If You Lack a Down Payment for a Mortgage

If down payment funds are your problem, there are plenty of zero down home loan options out there.

The two most common are VA loans and USDA loans. However, these are reserved for military/veterans and those buying in rural areas, respectively.

Assuming either of those are YOU, the down payment is no longer a hurdle. They allow 100% financing.

Even if you don’t qualify for those loan types, there are credit unions that offer zero down mortgages.

And many state housing finance agencies that offer grants and down payment assistance.

Some private lenders also offer grants. Rocket Mortgage launched “Purchase Plus” in late December.

It offers up to $7,500 in closing cost credits for first-time home buyers to use toward their mortgage costs.

Purchase Plus is available in specific census tracts in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

And Guaranteed Rate just launched a “Special Purpose Credit Program” in the same cities that provides up to $8,000 in assistance to underserved borrowers.

That’s a minimum of $5,000 in down payment and closing cost assistance, and up to an additional 1% of the sales price (or $3,000).

Many Types of Mortgages Only Require a 3-3.5% Down Payment

Even if you don’t qualify for zero down financing, conforming loans backed by Fannie Mae and Freddie Mac only require 3% down.

Conforming loans are the most common type of mortgage, offered by pretty much every bank and lender in the nation.

Fannie Mae’s offering is known as HomeReady Mortgage, while Freddie Mac’s is called Home Possible.

Both require a minimum FICO score of 620, which is pretty low and what some would consider easy to qualify for.

Additionally, they allow for boarder income so roommates/renters can contribute to your income to help qualify for the loan.

If you don’t have a 620 FICO score, there’s the FHA loan, which requires a minimum score of 580 with 3.5% down payment. Or as low as 500 if you can muster 10% down somehow.

If Your Credit Scores Are Low…

If you’ve got decent income and assets, but your credit scores are a problem, you still might be in luck.

For example, there is no minimum credit score requirement for VA loans, per the VA.

But individual lenders will still impose their own limits, which may be 580 or higher. Still, that’s very accommodating.

The USDA home loan program also doesn’t impose a minimum credit score, but most lenders want a 640 FICO or higher.

As mentioned above, Fannie Mae and Freddie Mac require a minimum 620 FICO. However, it’s possible to get approved with a lower score if you have a co-borrower with higher scores.

And the FHA only requires the 580 FICO for max financing (3.5% down).

So you’ve got several very liberal options to choose from that approve those with pretty low credit scores.

If Your Income Is Limited…

If income is your problem, you may still not have any issues as most home loan types are also pretty flexible in this department too.

With regard to your debt-to-income ratio (DTI), a conforming loan backed by Fannie Mae will allow a DTI ratio as high as 50%.

The FHA can go even higher, to a staggering 56.9%. The VA doesn’t have a maximum DTI, and can also go quite high depending on the circumstances.

USDA loans are generally stricter and want a DTI of 41% or lower, but may allow up to 46%.

Even if income is an issue for you, there’s the possibility to use a co-borrower or boarder income to help you qualify.

[What Mortgage Has the Best Rate?]

If You Are Recently Employed…

While income is one thing, employment history is another. Mortgage lenders are happy you’re making what you’re making.

But they want to know that you’ll be making that money consistently into the future. Mortgages can last 30 years, remember?

This means they typically want to see a two-year employment history to consider the income stable.

But once again, there are exceptions to the rule and it’s often possible to qualify with less than two years employment. Or even one year.

Across all loan types, a letter of explanation and supporting documentation may allow for limited employment history.

For example, a recent graduate may qualify for a mortgage if employment is likely to continue. Same goes for a medical school graduate (see physician mortgages for more on that).

Ultimately, there are lots of ways around the typical two-year requirement if you can demonstrate employment stability.

It also helps if you have good credit and/or money in the bank to offset such a risk.

Jumbo Loans Are Probably the Hardest Mortgages to Qualify For

While I’ve hopefully highlighted the fact that most mortgages are actually pretty easy to qualify for, there’s one category that isn’t.

I’m talking about jumbo loans, which exceed the conforming loan limit. These loans are offered by jumbo lenders, and are often backed by the companies themselves.

But here’s the thing – the 2023 conforming loan limit is $726,200. And the high-cost loan limits (for expensive areas of the country) are a whopping $1,089,300!

In other words, most folks don’t need a jumbo loan anyway.

If you do, expect higher down payment requirements, higher minimum FICOs, and larger reserve requirements.

After all, you’re asking to borrow a lot of money, so you better be good for it.

This might entail a minimum down payment of 10-20%, FICO scores of 680 and up, lower DTI ratios, and several months of reserves in the bank.

If You Have to Ask What Is the Easiest Type of Mortgage to Get…

Those who read the sections above should realize it’s fairly easy to qualify for a mortgage.

Credit score requirements are super low across all loan types. And DTI ratios are also very forgiving in most cases.

The same goes for employment history and asset/reserve requirements.

And the fact that you can often employ gift funds or a co-borrower to help qualify is the icing on the cake.

But if you have to ask the question, you may want to reassess your decision to rent vs. buy.

There’s a reason all these minimum requirements are in place. And there’s a reason why it takes around a month to get a mortgage.

It’s a big deal and the decision shouldn’t be taken lightly. Additionally, those who are adequately prepared should qualify for the lowest mortgage rates with the best terms.

So instead of focusing on easy, focus instead on how to qualify for the best rate.

Read More: 21 Things That Can Push Your Mortgage Rate Higher

Source: thetruthaboutmortgage.com

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Helder Almeida / Shutterstock.com

Editor’s Note: This story was written by Lauren Toms from partner site MoneyCrashers.

If you’ve been following the news this year, you might have heard about bank runs: Silicon Valley Bank, Signature Bank and First Republic in the U.S. and Credit Suisse internationally. And it’s understandable if you’re spooked.

A bank run happens when many — if not most — of a bank’s customers try to withdraw their money all at once, either because they’re worried the bank might go out of business or they’ve heard rumors about the bank’s financial health. Bank runs can be very stressful for both the bank and its customers and can have big effects on the economy as a whole.

Fortunately, there are things you can do to protect your money now so a bank run doesn’t ruin your day or your net worth.

Keep your money in a federally insured bank

Mark Van Scyoc / Shutterstock.com

One of the best ways to protect your money during uncertain times is to keep it in a federally insured bank. That means your deposits are insured up to $250,000 per depositor by the Federal Deposit Insurance Corporation (aka FDIC) or National Credit Union Administration (for credit unions).

If the bank fails, you won’t lose your money so long as you don’t have more than the insured amount in all your accounts with that bank.

To find out if your bank is federally insured, you can look for the FDIC or NCUA sign at your bank or credit union or ask a representative. You can also check the FDIC’s online database, BankFind, to verify if your bank is insured.

Don’t make assumptions. Some banks are uninsured, so it’s important to do your research and ensure your money is protected. Some banks or credit unions may also have private insurance. But it’s not backed by the U.S. government and is subject to the rules of the bank’s underwriter.

In addition to providing insurance for your deposits, using a federally insured bank also comes with other benefits. For example, federally insured banks must comply with certain regulations that protect consumers and promote stability in the financial system. Theoretically, that means that your money is more secure and less likely to be at risk in the event of a bank failure.

Diversify your wealth

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Diversifying across different banks and credit unions is an important step to protect your money during uncertain times. That means spreading your money across different FDIC- and NCUA-insured institutions, with no more than $250,000 in each account.

That serves two purposes. One, the more banks you have, the more likely you are to have at least one unaffected by bank runs. They tend to spread, meaning that if one bank starts to fail people start worrying about others, which results in a run on others.

Two, it ensures that if the worst does happen and the bank becomes insolvent, you have a better shot of having at least one bank remain unscathed — meaning you still have money in at least one account to keep paying bills and living life.

And diversification doesn’t just apply to the rich and powerful. Even if you only have a few thousand dollars in the bank, keep it in at least two different institutions. Otherwise, you could temporarily lose access to all your cash between the moment the bank stops processing withdrawals and the moment the FDIC steps in — which can take a few days.

For example, maybe keep half in a longstanding bank like Chase and the other in a neobank like Chime (which importantly has no connection to Chase). By diversifying across different banks, you reduce the risk of losing access to all your money at once.

Stay informed and be prepared

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Staying informed about your bank’s financial health is a key part of protecting your money during uncertain times. Regularly check your bank’s financial statements and reports, which are usually available online or in-branch. These reports can give you insight into your bank’s financial performance and stability.

Another way to stay informed is to pay attention to the news and any announcements your bank makes. That can help you stay up to date on any changes or developments that may affect your bank’s stability. But if you hear any rumors or concerns about your bank’s financial health, it’s important to verify them before taking any action.

In addition to staying informed, it’s important to be prepared in case of a bank run. That means creating a plan to protect your money and ensure you have access to funds when you need them.

One way to do that is to keep a small amount of emergency cash on hand at all times. How much you keep depends on what you think you might need, how big an emergency you’re planning for, and whether you have a safe place to keep it.

Some people, especially those with several banks, may just want a few hundred dollars on hand in case there’s an immediate issue. Others may want an entire month’s worth of money in case the worst happens.

But neither of those is a good idea if you don’t have a safe place to store it. Technically, you could use a safe deposit box. But bank branches might close if the bank goes under, severing your access to those funds.

In lieu of that, think of a safe place in your home where you can keep it away from the prying eyes of houseguests and burglars alike. Ideally, it would be inside a fireproof, waterproof safe in case of natural disaster.

Keep calm and don’t panic

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During a bank run, it’s natural to feel scared and uncertain. However, panicking can actually make the situation worse and put you at greater financial risk.

One danger of panicking is that you may withdraw too much money too quickly, leaving you without enough funds to cover your expenses and causing any automatic payments to bounce. Additionally, withdrawing large amounts of money can contribute to the bank’s instability and potentially make the situation worse for everyone involved.

To stay calm and make rational decisions during uncertain times, go back to your plan — and maybe even have a backup plan in case it’s worse than you thought or happens faster than you predicted.

One way to stay calm is to focus on the things you can control, such as your own finances and your own actions. That means avoiding rumors and speculation, and instead relying on verifiable facts and information.

Another way to stay calm is to remember the importance of having a long-term financial plan. By focusing on your goals and priorities, you can avoid making hasty decisions.

Final word

Mallika Mitra / Shutterstock.com

Bank runs can be a scary and uncertain time for both banks and their customers. However, by taking proactive steps to protect your money, you can minimize your risk and safeguard your finances.

By taking action now, you can protect yourself and ensure you have access to funds when you need them. Remember, it’s always better to be safe than sorry when it comes to your money.

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Source: moneytalksnews.com

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It’s time to check out the top mortgage lenders in Georgia based on their 2021 loan volume.

These mortgage companies outranked more than one thousand other lenders to take the top honors.

Overall, about $160 billion in home loans was funded in The Peach State last year, making it one of the bigger states volume-wise nationwide.

And taking the #1 spot was Rocket Mortgage, also the nation’s largest mortgage lender.

Read on to see which other companies ranked in the top 10.

Top Mortgage Lenders in Georgia (Overall)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $12.2 billion
2. Pennymac $6.6 billion
3. Wells Fargo $5.3 billion
4. Truist $4.7 billion
5. UWM $4.7 billion
6. Ameris Bank $4.0 billion
7. Newrez $3.9 billion
8. Freedom Mortgage $3.8 billion
9. AmeriHome Mortgage $3.5 billion
10. Fairway Independent $3.1 billion

Detroit-based Rocket Mortgage, the nation’s biggest mortgage lender, originated an impressive $12.2 billion in home loans in Georgia last year.

That was nearly double their nearest competitor, Pennymac, per HMDA data from advisory company Richey May.

SoCal based Pennymac funded about $6.6 billion in the state last year, and only about a third of it came via the retail channel.

They mostly dole out loans via the correspondent lending channel (via smaller banks and credit unions), and through mortgage brokers in the wholesale channel.

In other words, your loan may have been originated by a different company, but backed by Pennymac.

In third was San Francisco-based Wells Fargo with $5.3 billion funded, another good showing despite their controversies.

They were followed closely by Truist Financial and United Wholesale Mortgage (UWM), both with about $4.7 billion funded.

In sixth was Atlanta, Georgia’s own Ameris Bank with a healthy $4 billion in home loan volume.

Newrez was a close seventh with $3.9 billion, followed by Freedom Mortgage, AmeriHome, and Fairway Independent Mortgage.

Top Mortgage Lenders in Georgia (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. Pennymac $3.5 billion
2. Rocket Mortgage $2.6 billion
3. Ameris Bank $2.4 billion
4. UWM $2.3 billion
5. Homestar Financial $2.2 billion
6. Truist $2.1 billion
7. Fairway Independent $2.1 billion
8. Wells Fargo $1.9 billion
9. Newrez $1.9 billion
10. AmeriHome Mortgage $1.9 billion

If we consider only home purchase lending, the list changes quite a bit and new names surface.

Pennymac was the #1 home purchase lender in Georgia with $3.5 billion funded, followed by Rocket Mortgage with $2.6 billion.

Ameris Bank took third with $2.4 billion, meaning about 60% of their total mortgage business is home purchase loans.

In fourth was UWM with $2.3 billion, followed by Gainesville, GA-direct lender Homestar Financial with $2.2 billion in origination volume.

Others in the top 10 included Truist Financial, Fairway Independent, Wells Fargo, Newrez, and AmeriHome.

Top Refinance Lenders in Georgia (for Existing Homeowners)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $9.5 billion
2. Freedom Mortgage $3.3 billion
3. Pennymac $3.1 billion
4. Wells Fargo $3.1 billion
5. UWM $2.4 billion
6. Truist $2.2 billion
7. loanDepot $2.2 billion
8. Mr. Cooper $2.0 billion
9. Newrez $2.0 billion
10. Better Mortgage $1.8 billion

Now let’s talk about the biggest refinance lenders in Georgia. As expected, Rocket Mortgage absolutely dominated with $9.5 billion funded.

That was nearly triple second place Freedom Mortgage’s $3.3 billion, a testament to how active they are in the state.

In third was Pennymac with $3.1 billion, followed closely by Wells Fargo with roughly the same amount funded.

In fifth was UWM with $2.4 billion, a strong showing since they only work with mortgage brokers via the wholesale channel.

The rest of the top 10 included Truist Financial, loanDepot, Mr. Cooper, Newrez, and struggling lender Better Mortgage.

Top Mortgage Lenders in Atlanta

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $8.7 billion
2. Pennymac $4.2 billion
3. Wells Fargo $4.0 billion
4. UWM $3.7 billion
5. Truist $3.7 billion
6. Ameris Bank $3.1 billion
7. Newrez $3.1 billion
8. AmeriHome Mortgage $2.6 billion
9. Freedom Mortgage $2.4 billion
10. loanDepot $2.4 billion

Top Mortgage Lenders in Augusta

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $432 million
2. Pennymac $429 million
3. Queensborough National $326 million
4. Freedom Mortgage $249 million
5. Veterans United $233 million
6. Centerstate Bank $230 million
7. Wells Fargo $227 million
8. Truist $221 million
9. New American Funding $214 million
10. U.S. Bank $180 million

Who Are Georgia’s Best Mortgage Lenders?

I typically head over to Zillow and check customer reviews to determine which mortgage companies are faring best in a particular state.

Here’s what I found for Georgia. Atlanta-based AmeriSave has a 4.68/5 rating from over 2,400 reviews. Not the best rating, but the most reviews by far.

Then there’s Atlanta’s Silverton Mortgage, which has a superior 4.94/5 rating from about 1,200 reviews.

Even better is Ameris Bank’s 4.95/5 rating from nearly 900 customer reviews, and fellow Atlanta lender First Option Mortgage’s 4.97/5 from about 1,000 reviews.

Honorable mention goes to Capital City Home Loans and its 4.96/5 score from 300 reviews.

As for the big, national brands, Rocket has a 4.48/5, Pennymac a 4.4/5, and Wells Fargo a 4.95/5.

So it appears there are plenty of solid options, whether you use a local, Georgia-based mortgage lender or a national brand.

Also be sure to check out some local mortgage brokers to see what they can offer.

(photo: sailn1)

Source: thetruthaboutmortgage.com

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What is Zelle?

Since its inception in June 2017, Zelle’s instant payment service has exploded in popularity. It has established itself as one of the most widely used methods of money transfer in the United States.

Zelle, a digital payment network, is housed under the umbrella of Early Warning Services, LLC (EWS). EWS is a private financial services company jointly owned by some of the largest names in banking. These include Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo.

How does Zelle work?

Zelle users can quickly send money to other registered Zelle users for free. Anyone can download the Zelle app. However, if your bank or credit union partners with Zelle, you can enroll through your bank’s mobile banking app or website.

To send money via Zelle, all you need is the recipient’s phone number or email address. Once you’ve confirmed the payment, they will receive a text message or email with a link to accept it.

There are currently more than 1,190 banks that use Zelle in the U.S. Below is the full list.

Full Listing of Banks That Use Zelle (A-Z)

Banks Starting With # or A

  • 1st Bank of Sea Isle City
  • 1st Century Bank
  • 1st Colonial Community Bank
  • 1st National Bank
  • 1st Source Bank
  • 1st State Bank
  • 1st Trust Bank
  • Abington Bank
  • Academy Bank
  • ACCESSbank Omaha
  • ACNB Bank
  • Adirondack Bank
  • Advancial
  • Albany Bank & Trust
  • Alden State Bank
  • ALEC
  • Algonquin State Bank
  • Alliance Bank
  • Allied First Bank
  • Ally Bank
  • Alma Bank
  • Alpine Bank
  • Altamaha Bank and Trust
  • Amalgamated Bank of Chicago
  • Amalgamated Bank (NY)
  • Amarillo National Bank
  • Ambler Savings Bank
  • Amegy Bank
  • Amerant Bank
  • American Bank
  • American Bank and Trust
  • American Bank of Missouri
  • American Bank, N.A.
  • American Commercial Bank Trust
  • American Community Bank NY
  • American Community Bank Trust
  • American First National Bank
  • American Investors Bank
  • American National Bank & Trust
  • American National Bank of MN
  • American National Bank of TX
  • American Savings Bank
  • American State Bank and Trust
  • Ameris Bank
  • AMG National Trust Bank
  • Anchor Bank
  • Anderson Brothers Bank
  • Andrew Johnson Bank
  • Anstaff Bank
  • Apple Creek Banking Company
  • Arbor Bank
  • Arizona Bank & Trust
  • Armed Forces Bank
  • Armstrong Bank
  • Arthur State Bank
  • Arvest Bank
  • Aspire Banking
  • Associated Bank N.A.
  • Astra Bank
  • Atlantic Capital Bank
  • Atlantic Union Bank

Banks Starting With B

Banks Starting With C

Banks Starting With D

  • DL Evans Bank Mobile
  • Dacotah Bank
  • Dairy State Bank
  • Dallas Capital Bank, NA
  • Dean Bank
  • Dedham Savings
  • Desjardins Bank N.A
  • Dewitt Savings Bank
  • Dime Community Bank
  • Discover Bank
  • Dogwood State Bank
  • Dollar Bank, FSB
  • Dominion Bank
  • Drake Bank
  • Dubuque Bank & Trust
  • DuGood
  • Dundee Bank

Banks Starting With E

  • Eagle Bank
  • East West Bank
  • Eastern Bank
  • Eastern Colorado Bank
  • Eastern Michigan Bank
  • Eclipse Bank
  • Edmonton State Bank
  • Elements Financial
  • Embassy Bank For Lehigh Valley
  • Embassy National Bank
  • Empire State Bank
  • Endeavor Bank
  • Englewood Bank & Trust
  • Enterprise Bank
  • Enterprise Bank & Trust
  • Enterprise Bank & Trust Co.
  • Enterprise Bank of SC
  • Envision Bank
  • Ephrata National Bank
  • Equitable Bank
  • Erie Bank
  • ESSA BANK & TRUST
  • Eureka Savings Bank
  • Exchange Bank
  • Exchange Bank (CA)
  • Exchange Bank of NE Missouri
  • Excite Mobile Banking

Banks Starting With F

Banks Starting With G

  • Gate City Bank
  • Gateway First Bank
  • Generations Bank
  • Genesis Bank
  • Geo D. Warthen Bank
  • Georgia Banking Company
  • Georgia Community Bank
  • German American Bank
  • Gibsland Bank & Trust
  • Glens Falls National Bank
  • Glenwood State Bank
  • Golden Valley Bank
  • Gorham Savings Bank
  • Grand Ridge National Bank
  • GrandSouth Bank
  • Grandview Bank
  • Great Plains National Bank
  • Great Plains State Bank
  • Greater Community Bank
  • GreenLeaf Bank
  • Greenville Savings Bank
  • Grove Bank
  • Grove Bank & Trust
  • Grundy Bank
  • GTE Financial
  • Guadalupe Bank
  • Guaranty Bank
  • Guaranty Bank – MS
  • Guaranty Bank & Trust
  • Guaranty Bank (SFC)
  • Guardians
  • Gulf Capital Bank
  • Guthrie County State Bank

Banks Starting With H

  • Habib American Bank
  • Haddon Savings Bank
  • Hanmi Bank
  • Hanover Bank
  • Happy State Bank
  • Harrison County Bank
  • Hawthorn Bank
  • Hearthside Bank
  • Heartland Bank (NE)
  • Hendricks County Bank
  • Heritage Bank (KY)
  • Heritage Bank MN
  • Heritage Bank of Commerce
  • Heritage Bank of Schaumburg
  • Heritage Community Bank
  • Heritage Community CreditUnion
  • Heritage Southeast Bank
  • Hickory Point Bank and Trust
  • Highland Bank
  • Hillcrest Bank
  • Hilltop Bank
  • Hinsdale Bank and Trust
  • Holcomb Bank
  • Home Bank
  • Home Federal Bank of TN
  • Home National Bank
  • Home Savings Bank
  • Home State Bank
  • Home State Bank, IL
  • Home Trust & Savings Bank
  • Home-Federal Bank
  • Homeland Community Bank
  • HomeStreet Bank
  • HomeTrust Bank
  • Horizon Bank
  • Hoyne Savings Bank
  • Huntingdon Valley Bank
  • Huntington Bank
  • Huntington FSB
  • Huron Community Bank
  • Hyperion Bank

Banks Starting With I

  • Idaho Trust Bank
  • iGObanking
  • Illiana Financial
  • Illinois Bank & Trust
  • InBank
  • IncredibleBank
  • Independence Bank – Montana
  • Independent Bank
  • Infinity Bank
  • INSOUTH Bank
  • Integrity Bank for Business VA
  • Interamerican Bank
  • International Finance Bank
  • Intracoastal Bank
  • INTRUST Bank
  • Investar Bank
  • Investors Bank
  • Iowa State Bank
  • Iowa Trust and Savings Bank
  • Ireland Bank
  • Iron Workers Bank
  • Iroquois Federal Savings
  • Isabella Bank
  • Israel Discount Bank of NY
  • Ixonia Bank

Banks Starting With J

  • JBT
  • JCBank
  • JD Bank
  • Jefferson Bank
  • Jersey Shore State Bank
  • John Marshall Bank
  • Johnson Financial
  • Jones Bank
  • Jonesburg State Bank

Banks Starting With K

  • Kalamazoo County State Bank
  • Karnes County National Bank
  • Katahdin Trust Company
  • Kearny Bank
  • KEB Hana Bank USA
  • Kennebunk Savings Bank
  • KeyBank
  • KeySavings Bank
  • KeysBank
  • Keystone Bank
  • Kingston National Bank

Banks Starting With L

  • Ladysmith Federal
  • Lafayette State Bank
  • Lake City Bank
  • Lake Forest Bank
  • Lake Shore Savings
  • Lakeland Bank
  • Lakeside Bank
  • Lakeside Bank Chicago
  • Lamar National Bank
  • Landmark National Bank
  • Laona State Bank
  • LCFB
  • Lea County State Bank
  • Lead Bank
  • Leader Bank
  • Ledyard National Bank
  • Lee Bank
  • Lee Bank Mobile Banking
  • Legacy National Bank
  • Legend Bank
  • Level One Bank
  • Lexicon Bank
  • Liberty Bank
  • Liberty Bank for Savings
  • Liberty Capital Bank
  • Liberty National Bank
  • Liberty National Bank (OH)
  • Liberty Savings Bank
  • Libertyville Bank
  • LifeStore Bank
  • Lisle Savings Bank
  • Llano National Bank
  • Logansport Savings Bank
  • Lone Star National Bank
  • Lone Star State Bank of WT
  • Longview Bank
  • Longview Bank & Trust
  • Louisiana National Bank
  • Lowry State Bank
  • Loyal Trust Bank
  • Lubbock National Bank
  • Lumbee Guaranty Bank
  • Luther Burbank Savings
  • Luzerne Bank
  • Lyons National Bank

Banks Starting With M

  • M AND P BANK
  • M C Bank
  • M&F Bank
  • M&M Bank
  • M&T Bank
  • M1 Bank
  • MA Bank
  • Mabrey Bank
  • Machias Savings Bank
  • Magnifi Financial
  • Magnolia State Bank
  • Magyar Bank
  • Main Street Bank
  • Malvern National Bank
  • Manasquan Bank
  • Maple Bank
  • Marblehead Bank
  • Marion Center Bank
  • Marquette Bank
  • Marquette Savings Bank
  • Mars Bank Mobile Banking
  • Marthas Vineyard Bank
  • Maspeth Federal Savings
  • MCBank
  • McClain Bank
  • McHenry Savings Bank
  • McIntosh County Bank
  • MCNB Banks
  • Meade County Bank
  • Meadows Bank
  • Mediapolis Savings Bank
  • MemoryBank
  • Mercer County State Bank
  • Merchants & Farmers Bank Green
  • Merchants Bank
  • Merchants Bank of Indiana
  • Merchants National Bank
  • Meredith Village Savings Bank
  • Meridian Trust
  • Merrimack County Savings Bank
  • Metairie Bank
  • Metro City Bank
  • Metropolitan Bank
  • Metropolitan Commercial Bank
  • Mi BANK
  • Mid America Bank
  • Mid America Bank – Kansas
  • Mid Penn Bank
  • Middlefield Bank
  • Middletown Valley Bank
  • MidFirst Bank
  • Midland States Bank
  • MidSouth Bank
  • MIDWEST BANK
  • Midwest Bank – Minnesota
  • Midwest BankCentre
  • Midwest Bk
  • Midwest Community Bank
  • Midwest Heritage
  • MidWestOne Bank
  • Milford Federal
  • Millennium Bank
  • Minnesota Bank & Trust
  • MINNSTAR BANK
  • Minster Bank
  • MNB Bank
  • Monifi
  • Monona Bank
  • Monson Savings Bank
  • Montecito Bank & Trust
  • Montgomery Bank Mobile Banking
  • Monticello Banking Company
  • Morgan Stanley
  • Mound City Bank
  • Mountain Valley Bank
  • Mountain View Bank of Commerce
  • MPH Bank

Banks Starting With N

  • Nano Banc
  • Natbank, N.A.
  • National Bank of Arizona
  • National Bank of Blacksburg
  • National Bank of Indianapolis
  • National Capital Bank
  • NBC Oklahoma
  • NBT Bank
  • Nebraska State Bank & Trust Co
  • NebraskaLand Bank
  • Needham Bank
  • Neighborhood National Bank
  • Nokoosa Port Edwards Bank
  • Nevada State Bank
  • New Frontier Bank
  • New Mexico Bank & Trust
  • New Millennium Bank
  • New York Community Bank
  • Newburyport Bank
  • Newtown Savings Bank
  • NexTier Bank
  • NGNB
  • Nicolet National Bank
  • Noah Bank
  • NobleBank & Trust
  • North Dallas Bank & Trust Co
  • North Shore Bank, FSB
  • North Star Bank
  • North State Bank
  • Northbrook Bank
  • Northeast Bank
  • NorthEast Community Bank
  • Northern Trust
  • Northfield Bank
  • NorthSide Community Bank
  • Northumberland National Bank
  • Northwest Bank
  • Northwest Bank & Trust Co
  • Northwest Bank (PA)
  • Northwestern Bank
  • Northwestern Bank (IA)
  • Norway Savings Bank

Banks Starting With O

  • Oak Bank
  • Oakwood Bank
  • Oakworth Capital Bank
  • OCEAN Bank
  • Ocean Financial
  • Oconee Federal
  • Ohio State Bank
  • Old Dominion National Bank
  • Old Missouri Bank
  • Old National Bank
  • Old Plank Trail Bank
  • Old Point National Bank
  • Old Second Bank
  • OMB
  • One Florida Bank
  • OneWest Bank
  • Open Bank
  • Opportunity Bank of Montana
  • Orange Bank & Trust Company
  • Origin Bank
  • Osgood State Bank
  • Ozarks Federal Savings & Loan

Banks Starting With P

  • Pacific Alliance Bank
  • Pacific City Bank
  • Pacific Premier Bank
  • Pacific West Bank
  • Park Bank
  • Park National Bank
  • Park Ridge Community Bank
  • Parkway Bank
  • Partners Bank
  • Pathfinder Bank
  • Patterson State Bank
  • PCB Bank
  • Peapack-Gladstone Bank
  • Pegasus Bank
  • Penn Community Bank
  • Peoples Bank
  • Peoples Bank & Trust Co
  • Peoples Bank (IN & IL)
  • Peoples Bank (TX)
  • Peoples Bank (WA)
  • Peoples Bank IA
  • Peoples Bank of Alabama
  • Peoples Bank of East Tennessee
  • Peoples Bank of Altenburg
  • Peoples Bank of Graceville
  • Peoples Bank of Kankakee City
  • Peoples Bank of Kentucky
  • Peoples Bank of Paris Texas
  • Peoples National Bank
  • Peoples State Bank (WI)
  • Peoples State Bank Plainview
  • Peoples State Bank, Hville
  • Peoples Trust Company
  • PeoplesBank
  • Persons Banking Company
  • Peru Federal Savings Bank
  • Peshtigo National Bank
  • Philo Exchange Bank
  • Phoenixville Federal B&T
  • Piedmont Federal Savings Bank
  • Pinnacle Bank
  • Pinnacle Bank (CA)
  • Pinnacle Bank (GA)
  • Pinnacle Bank Texas
  • Pinnacle Bank Wyoming
  • Pinnacle Financial Partners
  • Pioneer Bank
  • Pioneer Bank (VA)
  • Pioneer Bank MN
  • Piscataqua Savings Bank
  • Pittsfield Cooperative Bank
  • PlainsCapital Bank
  • Planters Bank Mobile Banking
  • Platte Valley Bank NE
  • Platte Valley Bank WY
  • Plus International Bank
  • PNC Bank
  • Poca Valley Bank
  • Points West Community Bank
  • Ponce Bank
  • Port Washington State Bank
  • Prairie Community Bank
  • Preferred Bank
  • Premier Bank of the South
  • Premier Valley Bank
  • PremierBank Wisconsin
  • Primebank
  • PrimeSouth Bank
  • Primis
  • Progressive Bank
  • PromiseOne Bank
  • Prospect Bank
  • Prosperity Bank
  • Provident Bank
  • Provident Bank (CA)
  • Prudential Bank
  • PyraMax Bank

Banks Starting With Q

  • Quad City Bank & Trust
  • Quail Creek Bank
  • Quaint Oak Bank
  • Queenstown Bank
  • Quontic Bank

Banks Starting With R

  • R.Bank
  • Red River Bank
  • Redstone Bank
  • Redwood Capital Bank
  • Regions Bank
  • Reliabank
  • Reliance Bank
  • Reliance Bank (PA)
  • Renasant Bank
  • Republic Bank
  • Republic Bank of Chicago
  • Rhinebeck Bank
  • Richwood Bank
  • Riddell National Bank
  • Ridgewood Savings Bank
  • Rio Bank
  • Rising Bank
  • River Bank
  • River City Bank
  • River City Bank (KY)
  • Roanoke Rapids Savings Bank
  • Rochelle Bank
  • Rockland Savings Bank
  • Rockland Trust
  • Rockpoint Bank
  • Rocky Mountain Bank
  • Round Top State Bank
  • Royal Business Bank
  • RSI Bank

Banks Starting With S

  • S&T Bank
  • Sabine State Bank and Trust
  • Salem Five Cents Savings Bank
  • San Luis Valley Federal Bank
  • Sandhills Bank
  • Sandhills State Bank
  • Sandy Spring Bank
  • Sanibel Captiva Community Bank
  • Santa Cruz County Bank
  • Santander Bank
  • Saratoga National
  • Savings Bank of Walpole
  • Sawyer Savings Bank
  • Schaumburg Bank
  • Schuyler Savings Bank
  • Scottsdale Community Bank
  • Seacoast Bank
  • SECURITY BANK (OK)
  • Security Bank Laurel NE
  • Security Federal Bank
  • Security First Bank
  • Security National Bank IA
  • Security National Bank of SD
  • Security Savings Bank
  • Security State Bank – Wyoming
  • Seneca Savings
  • Settlers Bank
  • SFC Bank
  • Shore United Bank
  • Silicon Valley Bank
  • Simmons Bank
  • Skyline National Bank
  • SmartBank
  • SNB Bank, N.A.
  • Solutions Bank
  • Somerset Savings
  • South GA Banking Co
  • South Shore Bank
  • South Story Bank & Trust
  • SOUTHERN BANK
  • Southern Bank and Trust Co
  • Southern First Bank
  • Southern Independent Bank
  • Southern Michigan Bank and Trust
  • SouthPoint Bank
  • Southside Bank
  • SouthStar Bank
  • SouthState
  • Southwest Missouri Bank
  • Southwestern National Bank
  • SpiritBank
  • Spratt Savings Bank
  • Spring Bank
  • Spring Bank Brookfield WI
  • Springs Valley Bank & Trust Co
  • SSB Kenyon
  • St. Ansgar State Bank
  • St. Charles Bank
  • Starion Bank
  • State Bank Financial
  • State Bank of Cross Plains
  • State Bank of Southern Utah
  • State Bank of the Lakes
  • Stephenson National B&T
  • Stockman Bank of Montana
  • Suffolk Federal
  • Sullivan Bank
  • Summit Bank
  • Summit Community Bank
  • Sundance State Bank
  • Sunflower Bank, N.A.
  • Sunstate Bank
  • Surrey Bank
  • Susquehanna Community Bank
  • Susser Bank
  • Sutton Bank
  • Synovus Bank

Banks Starting With T

  • Tandem
  • TBK Bank, SSB
  • TC Federal Bank
  • TCBT
  • TD Bank N.A.
  • Terrabank
  • Territorial Savings Bank
  • Texas Bank and Trust Company
  • Texan Bank NA
  • Texas Capital Bank
  • Texas First Bank
  • Texas National Bank RGV
  • Texas National- Jacksonville
  • Texas Regional Bank
  • Texas Security Bank
  • The Andover Bank
  • The Bank
  • The Bank & Trust ssb
  • The Bank of Elk River
  • The Bank of Hemet
  • The Bank of Missouri
  • The Bank of New Glarus
  • The Bank of Princeton
  • The Bank of Southside VA
  • The Bank of Tampa
  • The Bank of Tescott
  • The Berkshire Bank
  • The Callaway Bank
  • The Citizens Bank
  • The Citizens Bank-Enterprise
  • The Citizens National bank KS
  • The Cornerstone Bank
  • The Dart Bank
  • The Dime Bank
  • The Farmers and Merchants Bank
  • The Farmers Bank
  • The Farmers Bank of Appomattox
  • The Federal Savings Bk
  • The Fidelity Bank (NC)
  • The First National Bank of LI
  • The Grant County Bank
  • The Gratz Bank FKA Linkbank
  • The Hamler State Bank
  • The Harbor Bank of Maryland
  • The Marblehead Bank
  • The Milford Bank
  • The MINT National Bank
  • The National Bank of Texas
  • The Neffs National Bank
  • The Peoples Bank
  • The Peoples Bank-Gambier OH
  • The Peoples State Bank
  • The Piedmont Bank
  • THE SAVINGS BANK
  • The State Bank
  • The State Bank Group
  • The Tri-County Bank
  • The Union Bank Co.
  • Think Bank
  • Third Coast Bank SSB
  • Thomaston Savings Bank
  • Thomasville National Bank
  • TIAA Bank
  • Timberline Bank
  • Touchstone Bank
  • Town and Country Bank
  • Town Bank
  • TowneBank
  • Tradition Capital Bank
  • Traditions Bank
  • Tri City National Bank
  • Troy Bank and Trust
  • Truist
  • Trustco Bank
  • TruStone Financial
  • TrustTexas Bank
  • Twin Valley Bank

Banks Starting With U

  • U.S. Century Bank
  • UBank
  • UBank TN
  • Ulster Savings Bank
  • Umpqua Bank
  • Unified Bank
  • Union Bank & Trust
  • Union Bank Monticello, AR
  • Union Bank
  • Union Savings Bank
  • Union State Bank
  • United Bank
  • United Bank & Trust
  • United Bank (AR)
  • United Bank of MI
  • United Business Bank
  • United Community Bank
  • United Community Bank, LA
  • United Cumberland Bank
  • United Security Bank
  • United Fidelity Bank
  • United Prairie Bank
  • United Southern Bank
  • Unity Bank
  • Unity Bank WI
  • Unity National Bank
  • Universal Bank
  • Universal City Studios
  • University Bank
  • Univest Bank and Trust Co.
  • URSB
  • U.S. Bank
  • US Metro Bank
  • USAA Federal Savings Bank

Banks Starting With V

  • Valley Bank
  • Valliance Bank
  • Varsity
  • Vectra Bank Colorado
  • Veritex Community Bank
  • Village Bank
  • Village Bank & Trust
  • Village Bank (VA)
  • Vinton County National Bank
  • Virginia National Bank
  • VisionBank

Banks Starting With W

  • WaFd Bank
  • Wallis Bank
  • Walpole Co-operative Bank
  • Washington Savings Bank
  • Washington Savings Bank Lowell
  • Waterford Bank, N.A.
  • Wauchula State Bank
  • Waumandee State Bank
  • Wayne Bank
  • Wayne Bank (PA & NY)
  • WCF Financial Bank
  • Webster Bank, former SNB sites
  • Wells Fargo Bank
  • WEOKIE
  • WesBanco Bank
  • West Alabama Bank
  • West Gate Bank
  • West Point Bank
  • West Shore Bank
  • West Texas National Bank
  • Western Bank
  • Western Commerce Bank
  • Western State Bank (KS)
  • Western States Bank
  • Westfield Bank
  • Westmoreland Federal Savings
  • WestStar Bank
  • Wheaton Bank
  • Willamette Valley Bank
  • Wilson Bank & Trust
  • William Penn Bank
  • Winchester Savings Bank
  • Windsor Federal Savings
  • Winnsboro State Bank (WSB)
  • Winter Hill Bank (WHB)
  • Winter Park National Bank
  • Wintrust Bank
  • Wisconsin Bank & Trust
  • Wood & Huston Bank
  • Woodford State Bank
  • Woodlands Bank
  • Woodlands National Bank
  • WoodTrust Bank
  • Woori America Bank
  • Wrentham Cooperative Bank
  • WSFS Bank
  • Wyoming Bank & Trust
  • Wyoming Community Bank

Banks Starting With Y

  • Yakima Federal Savings
  • Yampa Valley Bank

Banks Starting With Z

  • Zions Bank

Frequently Asked Questions

How do you receive money from Zelle?

If someone sends you money via Zelle, you’ll receive an email or text about their payment. Once you do, click on the link in the email or text. Then, download the Zelle app in the Apple App Store or Google Play if you haven’t already.

Click, “get started” and enter your email address or phone number, depending on how the funds were sent to you. Select “continue” and find your bank. As soon as you add your billing address on the next screen and click “continue,” you’ll be able to receive the transfer and any other transfers in the future.

What are the pros and cons of Zelle?

Just like any other digital payment provider, Zelle comes with pros and cons you should consider, including:

Pros

  • No fees to send or receive money
  • Available to customers at almost 10,000 U.S. banks and credit unions
  • Quick transfers, often within minutes
  • Chance to earn interest on money kept in checking and savings accounts connected to Zelle
  • Convenience of no contactless payments

Cons

  • Can’t cancel a payment after you send it if the recipient is already signed up with Zelle
  • Inability to link Zelle to a credit card
  • May require a smartphone
  • No chance to maintain a cash balance
  • Only for U.S. customers

Is there a fee for using Zelle?

Zelle doesn’t charge fees to send or receive money. But it’s a good idea to contact your bank or credit union to find out whether any additional fees may apply.

Is Zelle safe?

Since Zelle was created by banks and uses data encryption, it’s safe in most cases, especially when you compare it to alternative options like Venmo and Cash App. Despite this, Zelle doesn’t offer fraud protection for authorized payments.

This means if you use Zelle to make an online purchase, there’s not much you can do if you never receive the item. To avoid all safety concerns, only use Zelle to pay people you know and trust.

What’s the difference between Zelle, PayPal, and Venmo?

PayPal and Venmo are digital payment providers, which are similar to Zelle. However, unlike Zelle and Venmo, PayPal allows you to send and receive payments internationally. Many online retailers use PayPal as well.

Venmo is unique in that it’s a combination of a digital wallet and social media as you can comment with emojis when you send and receive payments. Zelle is not a digital wallet because you can only use it to transfer money from one account to another. While Zelle is generally free to use, PayPal and Venmo do charge fees in some situations.

Source: crediful.com

Apache is functioning normally

Pre-qualification is usually the first step in the process for student loan applications. After that, you’ll choose from a list of potential lenders. Then, ideally, you’ll select the one with the best rate.   

But what if you and your pals could contact a single lender for a loan together? Would they be more inclined to reduce their rate? Introducing Juno: a platform that seeks to harness the power of community.   

Juno has created a platform that allows students to band together and leverage their buying power to get the best possible rates on their loans. Juno works with several different lenders to find the best rates for borrowers. 

And because they work with multiple lenders, they can offer more flexible repayment options than most traditional organizations. So, if you’re looking for a student loan, we encourage you to check out Juno and see what we can do for you. Juno is a reliable and trustworthy source for student loans, and most Juno student loans reviews are positive.   

Check out our Juno review below to learn more! 

What’s Ahead:

About Juno Student Loans

Juno was founded in 2018 by two Harvard Business School students shopping for loans to cover their student debt. Their mission is to help reduce the alarming level of student loan debt in the United States. Juno offers competitive rates and terms on its student loans and has various lender options. 

Its founders, Nikhil Agarwal and Chris Abkarians, used negotiation strategies to obtain more affordable loans for their education. They decided to create Juno so other students could benefit from their experience. 

Working with Lenders

In 2022, Juno held an auction to compel lenders to provide the community with the best prices. They spent hours poring over rate tables and spreadsheets to determine which lenders provided the best rates for most borrowers. It allowed them to get the best possible deals for their members and ensured they got the best terms for new student loans as well as refinancing existing student loans. 

Juno charges the chosen lender a pre-determined fixed fee before the start of the agreement. It ensures that Juno will not get tempted by more substantial financial inducements from other companies.   

Offering the community the best pricing is the only way for lenders to prevail in the auction. By providing the community with the best possible pricing, Juno can ensure that it remains the preferred choice for student loans. 

Saving Students Money 

As an authority on student loans, Juno has helped countless students and families save money on borrowing. Juno members have borrowed more than $500 million at reduced rates, making it an ideal go-to source for anyone looking to lower their student loan payments.   

With a wide range of options and expert negotiators on staff, Juno is well-equipped to help you get the best possible terms on your student loans. 

What Loan Types Does Juno Offer? 

Here’s a quick breakdown of the loans you can access. 

Undergraduate Loans: These loans are for students enrolled in an undergraduate program at an accredited institution. 

Graduate Loans: These loans are for students enrolled in a graduate or professional program at an accredited institution. 

MBA Loans: These loans are for students enrolled in an MBA program at an accredited institution. 

Parent Loans: These loans are for parents of dependent students enrolled in an undergraduate or graduate program at an accredited institution. 

DACA Loans: These loans are for students with Deferred Action for Childhood Arrivals status enrolled in an undergraduate or graduate program at an accredited institution. 

Degree Abroad Loans: These loans are for students enrolled in a degree program at an accredited international institution. 

Student Loan Refinancing: If you have an existing student loan and have already graduated, you may be able to reduce your rates through refinancing.

Now let’s provide some in-depth Juno student loans reviews. 

1. Juno Graduate Loans 

As a graduate student, you want to be sure that you’re getting the best possible deal on your student loans. That’s where Juno comes in. 

Juno is committed to providing the best possible terms for graduate students with credit scores of 650 or above. In addition, they offer a cash incentive and a price match promise to anyone who can find a better private student loan. 

Pros 

  • Free membership 
  • Juno offers the lowest rate guaranteed 
  • No obligation 

Cons 

  • Juno doesn’t work with every lender 

Verdict 

With Juno, you can rest assured that you’re getting the best deal possible on your loan. That’s why they’re the best choice for graduate students looking for a private student loan. 

Get a quote for a graduate student loan 

2. Juno Undergraduate Loans 

Federal Stafford loans are generally the best choice for undergraduates. Still, it’s common for students to need to borrow more than the federal maximum of $5,500 for their first year of school. As an undergraduate student, you may find yourself in need of extra funds to cover the cost of tuition and other associated expenses.   

The cost can be even higher for parents helping their children pay for college. Parent PLUS loans, which the federal government offers, have an interest rate of 7.54% for the 2022–2023 school year and a 4.2% origination charge. That can make them quite expensive for borrowers with good credit. 

Consider a private loan from Juno if you cannot secure additional funding through federal loans. Juno currently offers a notable rate reduction for student loans, which can help families fill the gap after reaching the national lending limit, saving you money in the long run. 

Pros 

  • Low fixed interest rate  
  • No origination fees 
  • Deferment period 

Cons 

  • You can’t see what rates you’ll get before signing up 

Verdict 

Our Juno student loans reviews are overwhelmingly positive for undergraduates. Juno’s undergraduate loans have competitive interest rates and terms that could help you cover most expenses. 

Get a quote for an undergraduate student loan

3. Juno MBA Student Loans 

If you’re looking to finance your MBA, you may wonder if getting a private loan is worth it. Unfortunately, most MBA graduates enter profitable positions not covered by PSLF or IDR policies after graduation.  

So, private student loans can be a great way to finance your education. Juno offers low-interest loans specifically for MBA students, with repayment terms possible starting after graduation. 

Pros 

  • No credit checks involved 
  • You can tap into lower rates 
  • Quick sign-up process 

Cons 

  • Potentially longer approval process 

Verdict 

If you’re looking for a low-interest loan to finance your MBA, Juno could be a good option. 

Get a quote for an MBA student loan

4. Refinancing a Loan Through Juno 

Already taken a loan out? It’s not too late – you can also refinance through Juno. They offer a wide range of services for students and professionals to meet the needs of borrowers. 

Here are our Juno student loans reviews for refinancing. 

If you are looking to refinance your loan, Juno has a few different partner lenders that can help you. Earnest, Splash Financial, and Laurel Road all offer refinancing with periods ranging from 5 to 15 years.   

If you want to refinance medical loans, you will get sent to Laurel Road. However, if you wish to refinance any other loan, Earnest or, Splash is used instead. Juno is an excellent resource for those looking to lower their monthly payments or interest rates on their existing student loans. 

Refinancing plans are available for: 

  • General Student Loan Refinancing 
  • Medical Student Loan Refinancing 
  • Parent PLUS Loan Refinancing 
  • MBA Student Loan Refinancing 

Get a quote for refinancing a student loan

How Does Juno Compare to Federal Loans? 

Juno student loans reviews are slightly different from federal loans. One thing to note is that the government offers federal student loans, while banks, credit unions, and other financial institutions offer private student loans. 

Interest Rates   

Interest rates are another key difference. With a federal loan, interest rates are set by Congress, while the lender sets private student loan interest rates. As of 2022, the interest rate for Federal Direct Subsidized Loans and Unsubsidized Direct Loans is 4.53-6.54%. For federal Grad PLUS Loans, the interest rate is 7.54%. 

Repayment 

Federal student loans offer several repayment options, including income-driven and extended repayment plans. On the other hand, private student loans like Juno typically only provide a standard repayment plan, although some others may offer a comprehensive plan.  

Protection 

Finally, federal loans offer borrower protection. For example, if you become unemployed or have a sudden drop in income, you may be eligible for a deferment or forbearance on your federal student loans.   

These options temporarily allow you to stop or make smaller payments than usual. But, unfortunately, there is no such thing as a deferment or forbearance for private student loans – if you can’t make your payments, you’ll likely default. 

So Which is Best?   

One thing is sure from our Juno student loans reviews: pooling resources can help you secure the lowest loan interest rate guaranteed. Private financing is often considered less flexible than federal support, but Juno is seeking to change this. 

FAQs about Juno Student Loans

Is Juno Legit? 

Yes – Juno’s track record is impressive. Since its founding in 2018, Juno has already had more than 110,000 members sign up to join one of its negotiation groups, and it has secured over $520 million in loans.   

It’s free to use, and you can choose the best option for your needs. So if you’re considering where to get your student loans, check out Juno as a potential option! 

Can I get a scholarship from Juno? 

Yes, Juno provides a $1,000 essay scholarship. Only citizens of the United States may enter, and a winner gets chosen annually. 

Can Juno be used to refinance debts for overseas students? 

Yes! Juno launched a program to help international students refinance their student loans this December. It is the first program of its kind. 

Does Juno require a good credit score?   

No, you don’t need an excellent credit score for a loan — you can get a cosigner to help you get qualified if your credit score is low. A cosigner is usually a parent or other family member who agrees to sign the loan with you (but their score will need to be above 650).   

This way, even if your credit score isn’t good, you may still be able to get the loan you need. When requesting refinancing from Juno without a cosigner, a credit score higher than 650 is advisable. 

What kind of student loan do most people take out?   

The most typical Juno loan is a 10-year loan with a fixed interest rate. However, many parents choose the deferred option, where they don’t make any payments while their children are in school.   

But paying a little while in school to receive a lower interest rate is often the wiser choice. For instance, if you pay $25 per month, you may save a lot of money if you take advantage of the autopay discount. 

Summary

Saving money as a student by using the force of collective bargaining to get lower interest rates is innovative. We’ve looked at Juno student loans reviews. Many students balk at private financing compared to federal funding – this might be the organization that changes the game. 

By pooling borrowers with similar profiles, Juno can negotiate better interest rates with lenders on behalf of its members. And because there’s no cost to use Juno’s services, it doesn’t hurt to try it out and see if you could be qualified for lower interest rates.   

So why not give it a shot today?

Get a quote for a graduate student loan refinance or a new private student loan

Source: moneyunder30.com

Apache is functioning normally

As housing affordability wanes, mortgage lenders have gotten increasingly creative to help borrowers qualify.

The latest innovative product is “Movement Boost,” a zero-down FHA loan offered by South Carolina-based Movement Mortgage.

Instead of requiring a minimum 3.5% down payment, home buyers can take out a repayable second mortgage that covers those funds and closing costs if needed.

This means a home buyer doesn’t need any cash to close in some cases, which often proves to be a roadblock.

Read on to learn more about the new loan program.

How Movement Boost Works

Movement Boost takes the standard FHA loan and supercharges it by removing the 3.5% down payment requirement.

Instead, borrowers wind up with a first and second mortgage, the latter covering the down payment and up to 1.5% in closing costs if necessary.

The first mortgage is set at 96.5% of the purchase price, with the remaining 3.5% funded via a repayable second lien.

This second lien features a mortgage rate 2% above that of the first mortgage. And the loan term is 10 years.

For example, if you purchased a $300,000 home, you’d take out a first mortgage at $289,500.

You’d typically need $10,500 to make the minimum down payment of 3.5%.

But with Movement Boost, that $10,500 could be financed via a second mortgage. Additionally, you could tack on another 1.5% ($4,500) for closing costs.

Let’s pretend the interest rate on the first mortgage is set at 6.5%. That would make the second mortgage rate 8.5%.

This would result in a monthly payment of $130.18 if the loan amount were $10,500. Or $185.98 if you took out a larger $15,000 loan to cover closing costs also.

While you’d have to make two monthly mortgage payments, the tradeoff would be $10,500 to $15,000 more dollars in your pocket.

Movement Boost Guidelines

  • Home purchase loan for first-time and repeat buyers
  • Must be a primary residence
  • Single-family homes, 2-unit properties, condos, and manufactured homes permitted
  • Minimum 620 FICO score (640 for manufactured homes)
  • Maximum DTI ratio of 50%
  • Can finance down payment and up to 1.5% in closing costs
  • Available in all states except for New York

As noted, Movement Boost is an option for a home buyer looking to take out an FHA loan who wants/needs help with the down payment and possibly closing costs too.

This means you need to be a home buyer, though both first-timers and repeat buyers are eligible.

Additionally, a minimum 620 FICO is required and the maximum DTI ratio is 50%.

In terms of allowable property types, single-family homes, condos, two-unit properties, and manufactured homes are permitted.

If it’s a manufactured home, you need a minimum FICO score of 640.

In all cases, the property must be your primary residence, the one you intend to live in full time throughout the year.

Those who wish to come in with a larger down payment can also apply gift funds from an acceptable source.

The new product is available nationwide in all states except for New York.

Who Is Movement Boost Designed For?

Simply put, Movement Boost is geared toward the home buyer who lacks a down payment. Or one who doesn’t want to lock up all their cash in a property.

It combines a low-down payment FHA loan with down payment assistance to provide zero down home loan financing.

The program is part of Movement Mortgage’s Grab The Key initiative, which focuses on helping more underserved communities tap into homeownership.

By financing the down payment instead of paying it at closing, borrowers can deploy their money elsewhere. Or continue to build up their reserves while owning a property.

The caveat is that the borrower must qualify for two mortgages instead of one. However, the loan amount on the second mortgage will be comparatively small.

And as seen in our example, may only set the borrower back $100-$200 per month. It also features a shorter payback period, which allows the homeowner to build equity faster.

As always, be sure to compare all available loan options with multiple banks, brokers, lenders, and local credit unions.

Also ask yourself if you’re ready for homeownership if you lack the minimum down payment required.

It’s generally advisable to have several months of reserves set aside so you can continue to make payments if facing some kind of hardship.

Of course, financing the down payment instead of paying it upfront may allow you to set aside those funds.

Lastly, be sure to compare the pros and cons of an FHA loan vs. conventional loan to see which is best for your situation.

One downside to an FHA loan is that the mortgage insurance remains in force for the life of the loan.

Movement Mortgage was a top-30 mortgage lender in 2022, funding about $23 billion during the year.

Read more: Rocket Mortgage Launches a 1% Down Home Loan

Source: thetruthaboutmortgage.com