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3 weeks ago | 
bankrate.com | Denny Ceizyk |Rhys Subitch
HELOCs tie up equity you might need to make a down payment on a new home. Personal loans can be funded quickly since lenders don’t vet your home’s value for approval. Closing costs may be significantly lower than HELOCs, with many excellent credit lenders offering no-fee options. With home prices at record highs and mortgage rates dropping ever so slightly, homeowners may be ready to get serious about selling their homes.
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1 month ago | 
bankrate.com | Rhys Subitch
Nobody makes the perfect financial decision every time. A choice can even seem solid at the outset, then turn bad later. Like, say, taking out an auto loan — even one with a great rate — for a Tesla mere months before the automaker dropped prices. After the dip, “I was underwater on my loan,” says North Carolina resident Jay Casimir, meaning that he suddenly owed more on his debt than his new electric wheels were worth.
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1 month ago | 
bankrate.com | Rhys Subitch
Julia Barnard was working her “dream job,” pouring her “heart into the work” of helping education debtors nationwide. Until Barnard — the last student loan ombudsman at the hotly-contested Consumer Financial Protection Bureau (CFPB) — was abruptly (and some argue, illegally) fired by the Trump Administration on Feb. 13. Barnard’s job was to work directly with then-CFPB director, Rohit Chopra, on student loan policy and strategy to address America’s over $1.6 trillion education debt.
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2 months ago | 
bankrate.com | Rhys Subitch
A good or excellent credit score gives you the best chance of getting a personal loan with attractive terms. If your credit score isn’t up to par, try improving it or finding a co-applicant to help boost your approval odds. The amount you borrow and your debt-to-income ratio also play a role in the lender’s decision.
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2 months ago | 
bankrate.com | Hanneh Bareham |Rhys Subitch
Tuition-free college programs are available in at least 32 U.S. states, offering students the opportunity to reduce or eliminate tuition costs for their degrees. Most of these programs have eligibility criteria, such as graduating from an in-state high school and enrolling full-time. Some programs have specific academic performance or financial need requirements.
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2 months ago | 
bankrate.com | Meaghan Hunt |Rhys Subitch
Tiny homes are often not eligible for mortgage loans but are eligible for other financing options, like personal and home equity loans. Manufacturers or builders may offer in-house financing options that could offer better rates than lenders or banks. Depending on the details of your tiny home, it may not be eligible for other financing options. As the cost of housing in America continues to skyrocket, downsizing to a micro-living space has become an increasingly popular trend.
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2 months ago | 
bankrate.com | Denny Ceizyk |Rhys Subitch
When I was in mortgage lending, the most common reason for lower-than-expected credit scores was high credit card balances. Paying the balances off or down was usually the fastest path to a score improvement. Since the new year began, my inbox and social media feeds have been inundated with debt consolidation loan offers. This makes me wonder: Can a credit card consolidation loan help your credit score?
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2 months ago | 
bankrate.com | Holly Johnson |Rhys Subitch
Start by finding out the value of your car through Kelley Blue Book or Edmunds. Boost the car’s value by fixing any mechanical issues and cleaning it for curb appeal. Shop around and negotiate for the best price. Time your trade-in for periods of higher value, such as winter for four-wheel drive vehicles, but avoid trading in if you still owe money on the car. If you’re considering trading in your car for a new set of wheels, don’t speed to the dealer and miss a good deal.
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Jan 13, 2025 | 
bankrate.com | Denny Ceizyk |Rhys Subitch
Most Americans carry a combination of revolving and installment debt during their financial lifetimes. The journey often starts with a revolving credit card, but it doesn’t end there. The ubiquitous nature of credit cards is hard to understate. According to Bankrate’s Credit Card Debt Survey data, 50 percent of Americans with a credit card carry a credit card balance from month to month. Student loans, meanwhile, are typically the first exposure you’ll get to a type of installment loan.
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Dec 8, 2024 | 
bankrate.com | Hanneh Bareham |Rhys Subitch |Mark Kantrowitz
The best way to check your student loan balance is to contact your school’s financial aid office directly or use the Federal Student Aid (FSA) website. You will need to check with private lenders individually to see balances unless you consult your school’s financial aid office. Your credit report will show open loans but may not reflect the most updated information.
