Inflation has been squeezing â and infuriating â U.S. consumers for a long time now. What began as an annoyance (an extra pinch at the gas pump and the grocery store) has turned into a painful reminder that budgeting and saving may be even more important than anyone ever thought. And without a plan to […]
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Paying off your mortgage ahead of time might sound like an incredibly savvy thing to do â and in some cases, it is. But itâs not the right money move for everyone. Pay off a mortgage in five years? Itâs an aggressive strategy that may or may not be the smartest choice. Benefits and Risks […]
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Subprime mortgages may allow borrowers with lower credit scores to obtain homeownership, but they will pay a steep price for the privilege, thanks to the higher risk to lenders. There is hope for borrowers who raise their credit profiles through consistent, on-time payments: They can look into refinancing. Hereâs a deep dive into the subprime […]
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Home ownership is possible even if your credit score isnât in the 700s. Hereâs how to buy a house with bad credit.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Saving for a down payment when you have a boatload of bills is no easy task, but first-time homebuyers with good credit have an edge: They often can put just 3% down, and they have access to a host of down payment assistance programs. A down payment gift from a family member, and sometimes a […]
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For many people, the goal of investing in assets like stocks or real estate is to see the price of the investment go up. The objective is to buy at a relatively low price and hope the asset’s value goes up over time. Though it may be easier said than done, this strategy — called […]
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Whether youâre borrowing money from a bank or saving money in a bank account, interest and interest rates will play into your financial picture. And understanding exactly how they work is crucial to making the best possible decisions for your money. Interest â the money youâre charged for borrowing money or earning for saving money […]
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Buying a home can be one of the biggest and most exhilarating purchases of your lifetime. Especially in a time when young people are having more difficulty locating affordable housing, finding yourself in a situation where you think you have finally saved up enough money for a down payment on your first home can be […]
The post Do You Still Need to Put a 20% Down Payment On a House? appeared first on SoFi.
Dear Penny, I am a 37-year-old mail carrier and make $45,000 a year. With overtime, I hit around $50,000. My salary increases slowly every year until I max out at $71,000, which takes 13 years to reach, and I’m only two years in. I live in Massachusetts which is incredibly expensive and not livable on [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.