Alaya Linton

Connecticut

Personal Finance Writer at Freelance

Personal financial coach & blogger. On a mission to show others hope and peace in their finances. 2016 finalist Best New Personal Finance Blog. #personalfinance

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Articles

53% Expect to Shop on Small Business Saturday | LendingTree

Nov 18, 2024 | lendingtree.com | Alaya Linton

53% of Americans say they definitely or probably will shop small on Small Business Saturday, led generationally by millennials and Gen Zers.
Homeownership statistics in 2024 — Track rates by state, age and more

Sep 26, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Updated 1:29 PM EDT, Thu September 26, 2024 Link Copied! Anchiy/iStock Current homeownership statistics reflect economic shifts over the past year and the continued impact of housing market changes over the past several years. At 65.6%, the overall homeownership rate is higher than pre-pandemic levels; however, the national median household income remains below the income needed to purchase a median-priced...
What does it mean to recast a mortgage, and can it save me money?

Sep 25, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages By Alaya Linton Katie Lowery Andrew Pentis, CNN Underscored Money Published 9:18 AM EDT, Thu September 26, 2024 Link Copied! Anchiy/iStockphoto Recasting a mortgage is a little-known strategy to lower your monthly payments without refinancing your home loan. By making a lump sum payment toward your mortgage principal, you can lower your loan balance and, in turn, your monthly payments while keeping your current interest rate and loan term (and perhaps ditching conventional...
Can you refinance a HELOC — and should you?

Sep 13, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages / Home Equity By Alaya Linton Katie Lowery Andrew Pentis, CNN Underscored Money Published 1:27 PM EDT, Fri September 13, 2024 Link Copied! zamrznutitonovi/iStockphoto If you have a home equity line of credit (HELOC) and need to reduce your payments, access more equity or switch to a fixed rate, take heart: you can refinance a HELOC. And there are multiple ways to do it, including getting a new line of credit or refinancing the balance into your primary mortgage. However,...
The best HELOC rates in 2024 — and how to qualify

Sep 12, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Published 11:45 AM EDT, Thu May 23, 2024 Link Copied! If you’re on the hunt for a home equity line of credit (HELOC), you won’t be surprised to learn that current HELOC interest rates remain elevated, thanks to inflation-inspired Federal Reserve policymaking. More expected news: The best HELOC rates are reserved for the most creditworthy borrowers. So, before applying for financing, strengthen your application...
Can you get a HELOC on an investment property — and should you?

Sep 12, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages / Home Equity By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Published 12:04 PM EDT, Thu September 12, 2024 Link Copied! skynesher/iStock Getting a home equity line of credit (HELOC) on an investment property is possible, but not all HELOC lenders offer it. As a result, investment property HELOCs are more challenging to qualify for and have more restrictive loan terms than traditional HELOCs. Yes, you can get a HELOC on an investment property — but how? 1....
The best reverse mortgage lenders of 2024, if you’re seeking a reputable company for this complex loan

Aug 15, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Published 5:53 AM EDT, Fri August 16, 2024 Link Copied! The best reverse mortgage companies offer various loan options, competitive interest rates, low closing costs and effective customer service. But finding a lender that checks all of those boxes isn’t easy. After all, reverse mortgages are a complex product with significant risks, two facts that make it ripe for scams and predatory lending. To make a...
How to choose a mortgage lender in 8 steps (and avoid headaches along the way)

Jul 21, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Updated 9:50 AM EDT, Mon July 22, 2024 Link Copied! Courtney Hale/iStock Finding a mortgage lender can be daunting for both first-time homebuyers and seasoned homeowners. Like many borrowers, you may be tempted to simplify the process by getting a mortgage at your existing bank, credit union or lender. While that can be a good place to start, you could leave money on the table if you end your mortgage search...
Conventional loans: How they compare to government-backed loans

Jul 9, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Loans / Personal Loans By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Published 2:38 AM EDT, Wed July 10, 2024 Link Copied! Fly View Productions/iStock Conventional loans have fewer fees and greater flexibility than other options, making them a great fit whether you’re a first-time homeowner, investment property buyer or vacation home shopper. However, conventional mortgages also carry stricter eligibility requirements (such as a minimum credit score of 620 in many...
How soon can you refinance a mortgage — and when is it wise?

Jul 2, 2024 | cnn.com | Alaya Linton |Katie Lowery

Money Mortgages / Refinance By Alaya Linton Andrew Pentis Katie Lowery, CNN Underscored Money Updated 8:39 AM EDT, Wed July 3, 2024 Joe Hendrickson/iStockphoto How soon you can refinance your mortgage depends on your loan type and lender’s requirements. Some mortgage programs (such as conventional and FHA) allow rate-and-term refinances immediately, while others require a waiting period (210 days for VA loans, for example). Expect to wait 12 months for a cash-out refinance. If you recently...