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Nov 11, 2024 | 
time.com | Lee Huffman |Sean Bryant |Catherine Hiles |Sarah Hostetler
Your business credit profile and credit score indicate to credit agencies, lenders, vendors, and suppliers how well your company manages its debts—and its likelihood of paying them on time. A strong business credit score makes it easier to get financing and can lead to better interest rates and repayment terms, which can help you navigate challenges and grow your business. How to build business creditIt takes time and effort to establish and build business credit.
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Nov 5, 2024 | 
mortgageresearch.com | Sean Bryant
Interest rates have reached heights we haven’t seen in years, leading many to explore creative financing options. One alternative gaining traction in this climate is the interest-only mortgage. But what is an interest-only mortgage? Interest-only mortgage loans are a financing option that allows borrowers to make interest-only payments for a set amount of time, typically seven to ten years.
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Oct 30, 2024 | 
investopedia.com | Sean Bryant
Increasing your credit limit can bring about two immediate benefits: It can increase your credit score by lowering your credit utilization, and it gives you more purchasing power before maxing out your card. Getting a credit limit increase means your card issuer thought you were worth trusting with more borrowing power. It's generally helpful to have higher credit limits, unless you're worried about overspending.
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Oct 29, 2024 | 
mortgageresearch.com | Sean Bryant
Did you know that over have used a USDA loan to purchase a home? This might not come as a surprise since USDA loans are useful for making homeownership possible in rural and suburban areas. This is especially true for buyers who don't have the money for a down payment.
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Oct 9, 2024 | 
mortgageresearch.com | Sean Bryant
With increasing home prices, many people find home ownership out of reach. Not only does it require a large down payment, but monthly mortgage payments can be out of many people’s budget. Enter the 40-year mortgage. While the most common mortgage terms are 15, 20, and 30 years, some lenders offer 40-year mortgage loans. The longer term means lower monthly payments for borrowers.
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Oct 8, 2024 | 
mortgageresearch.com | Sean Bryant
If you have below-average credit, a high debt-to-income ratio, or a small down payment, getting approved for a mortgage can be difficult. This could leave you looking for alternatives to finance a new home. One option could be a purchase money mortgage, in which the seller finances the purchase to the buyer. But is this method of financing the best move for you? Keep reading as we explore exactly what a purchase money mortgage is, some pros and cons, and the different types available.
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Oct 7, 2024 | 
mortgageresearch.com | Sean Bryant
USDA loans are a great option for families looking to purchase a home in an eligible rural area. They allow borrowers to enter homeownership without requiring a down payment, and the USDA minimum credit score is typically around 620. Meeting or exceeding these requirements improves your chances of loan approval. However, it’s important to understand that the USDA doesn’t enforce credit score requirements. Instead, these are set by the lenders themselves.
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Sep 26, 2024 | 
time.com | Jean Folger |Sean Bryant |Mary Hall |Julia Kagan
There are a lot of reasons why people decide to refinance a mortgage. You may want to take advantage of lower interest rates, which can save you thousands of dollars. Or, you might want to access some of the equity you’ve built up in your home for a big project. Regardless, it’s essential to understand if refinancing your mortgage will be a good idea for your situation. Keep reading as we explore why people refinance, when refinancing might be a bad idea, and other considerations.
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Sep 25, 2024 | 
time.com | Jean Folger |Mallika Mitra |Sean Bryant |Roger Wohlner
Many online brokerages support options trading, but the best options trading platform for one trader may not be the best for another. We evaluated some of the most popular online brokers for a wide variety of traders—including beginner to advanced, those looking for low costs, and those wanting to trade options alongside their other investments. Read on for our recommendations, as well as how to choose the platform that’s best suited for you.
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Sep 25, 2024 | 
time.com | Jean Folger |Mallika Mitra |Sean Bryant |Roger Wohlner
If you’re an experienced investor looking to take on a more complicated form of trading, you may have considered options trading. While trading options can result in higher returns than investing in stocks—and has the potential to generate income and hedge a portfolio against risk—it can be very risky. Here’s what you need to know, including a step-by-step guide to trading. How to trade options in 5 stepsHere are five steps to follow when trading options. 1.
