Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan. It could also be the difference between being approved or denied for a loan in the first place. When we talk about credit scores, there are typically two significant players, FICO and VantageScore. Each uses similar factors to determine your credit … [Read more...] about What is a Good Credit Score?
If you are looking to buy a home but are putting in less than a 20% down payment, you'll likely be paying PMI or Private Mortgage Insurance. PMI is an insurance policy for the lender in case you stop making your monthly payments. Depending on your LTV (loan to value) ratio and other factors, your PMI cost may vary. On average, PMI for a conventional home loan ranges from 0.58% … [Read more...] about How Much Is PMI (Private Mortgage Insurance)?