Erik Haagensen

Sep 26, 2024 | time.com | Jamie Cattanach |Jean Folger |Sean Bryant |Erik Haagensen

When you apply for a new mortgage, refinance an existing mortgage, or take out a home equity loan or home equity line of credit (HELOC), your lender will consider numerous factors during the approval process. Your loan-to-value (LTV) ratio is one of them. It will not only influence your lender's approval decision; it will also play a crucial role in determining the terms of your loan.

Aug 1, 2024 | time.com | Sarah Hostetler |Erik Haagensen |Julia Kagan

If you’re new to credit, you’re probably wondering how on earth to establish credit history without having a credit score. After all, many beginner credit cards have a minimum credit score requirement. There are a few ways to build credit with a poor or nonexistent credit history. The easiest may be with credit-building debit cards. These cards can report a payment history to the major credit bureaus without you having to borrow money.

Aug 1, 2024 | time.com | Jacob Wade |Erik Haagensen

Certificates of deposit (CDs) offer a fixed return on cash deposits, delivering some of the best available interest rates on savings. While most CD terms fall between six months and five years, some banks offer CDs as short as one month. If you’re looking for the best CDs over 30 days, here are seven national, regional, and online banks (and one credit union) offering reasonable minimum deposit requirements and no monthly fees.

Aug 1, 2024 | time.com | Kevin Payne |Erik Haagensen |Julia Kagan

An individual retirement account (IRA) CD is a type of retirement account that invests your funds in a certificate of deposit (CD). When you open a regular CD, you're putting away money for the near future. With an IRA CD, it's part of your long-term retirement savings strategy. The type of IRA you use for your IRA CD determines guidelines for contributions and tax implications on withdrawals. Below is our list of banks and credit unions where you can find the best IRA CD rates available right now.

Aug 1, 2024 | time.com | Kevin Payne |Erik Haagensen |Julia Kagan

Jumbo certificates of deposit (CDs) require a higher minimum balance commitment than traditional CDs, typically $100,000 or more. Banks and credit unions often pay higher rates on jumbo CDs as a reward for leaving a larger amount of money in your account in the long term. In some cases jumbo CDs offer interest rates of 5.00% or higher. Our list of the best jumbo CD rates focuses specifically on CDs with the highest rates that require at least a $100,000 minimum deposit to open.