ACH, or Automated Clearing House, is a network used for electronically moving money between bank accounts across the United States. What does this mean for your business?
A loan-to-value (LTV) ratio divides your loan amount by the home’s value; 80% is a good LTV. Lenders use LTV to determine your loan amount, risk, insurance, and interest rate.
Here's what the terms mean and the differences between a home equity line and loan that can help you figure out whether they're the right fit for you.If you’ve built up equity in your home—if it’s worth more than the balance on your mortgage—you may be able t...
This is the key advantage of a mortgage broker. They have the ability to compare mortgage rates with numerous banks and mortgage lenders simultaneously to find the lowest rate and/or the best loan program with the fewest costs. If you use a traditional retail bank, theloan officercan only of...
One of the most common questions consumers ask is this: what is principal and interest? They’re both terms related to loans, but what do they mean? We believe that financial literacy is a core component of achieving financial empowerment. And understanding principal and interest is key to ...
A guide to upload and download speeds, and what people mean when they say "fast internet." How much internet speed do I need? In today's fast-paced, always-connected world, it's hard to imagine life without the internet. We use it for everything — from keeping in touch with friends...
Account Closure:In some cases, a returned deposit may signify the closure of the secured credit card account. This could be due to various factors, such as non-payment, account inactivity, or a violation of the card’s terms and conditions. When an account is closed, the deposit is typical...
Your debt-to-income ratio is the percentage of your monthly income that goes toward your monthly debt payments. Lenders use this ratio to assess your ability to manage your debt and make timely payments.
Lauren Fix, The Car Coach®, is a nationally recognized automotive expert, sector analyst, journalist, author, keynote speaker and television host. A trusted car expert, Lauren provides an insider’s perspective on a wide range of automotive topics and aspects, energy, industry, consumer news ...
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