(TNS)—Lenders use your credit score to determine whether you are eligible for a loan and to decide what terms they are prepared to offer. Credit bureaus keep track of when companies check your score, regardless of the outcome, and checks designated as “hard inquiries” may lower your score. Understanding what constitutes a hard check versus […]
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(TNS)—If a flood swamps your home, will insurance cover the damage? That depends on the value of your home, the amount of water damage and whether you have a flood insurance policy. Regular home insurance doesn’t cover flooding. You’ll need a policy offered through the government’s National Flood Insurance Program (NFIP)—but note that those top […]
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(TNS)—When you find the home of your dreams, make an offer and apply for a mortgage, you might not give much thought to the cost of title insurance—but that can be a mistake. A title policy defends buyers (and their lenders) from future property ownership claims, surprise liens and other potentially costly complications with property […]
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(TNS)—Buying a home for the first time can be daunting. In addition to mountains of paperwork and new financial terms to sort through, you’ll face costs and fees that can quickly add up. In short, purchasing a home isn’t a financial step to take lightly. Perhaps that’s why 74 percent of millennials say that saving […]
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(TNS)—If you bought a house with a down payment of less than 20 percent, your lender required you to buy mortgage insurance. The same goes if you refinanced with less than 20 percent equity. Private mortgage insurance, called PMI for short, is expensive—but you can remove it after you have met some conditions. You should […]
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