One of the primary factors lenders consider when you apply for a mortgage is your credit score. They normally use what’s called a FICO score, which is a number that ranges between 300 and 850. Lenders use this number to assess your trustworthiness, as it represents your recent and extended credit history. How you have…
Dave Ramsey is a popular radio show host, an author of several books about financial management and developing life skills. Besides being a great teacher, he is also, not coincidentally, a successful businessman and a devout Christian. His Financial Peace University course has been completed by over 4 million people. Ramsey’s formalized and systemized financial…
When you’re shopping for a home, one of the very first questions you’ll ask yourself is, “How much home can I afford?” I’ll answer that question for you in this article using the information lenders use to qualify you for a loan amount as well as some recommendations based upon my own experience buying homes….
FHA Loan Debt to Income (DTI) Ratio Guidelines FHA loans allow first time home buyers and others who are just starting out or who may be financially disadvantaged to purchase homes through a government assisted program that differs from conventional loans. To qualify for an FHA loan, the Federal Housing Authority requires that you meet…
The Simplest Financial Management and Debt Reduction Plan Ever The materialistic, super-indulgent world we experience today has created a very large demand for debt reduction programs, debt counseling careers, thousands of apps for managing personal and family finances, and a thriving market where millions of people make lots of money selling products to people who…
Article Summary The current housing market in the US has made its way back to pre-Great Recession levels. Interest rates are rising, which will tend to cool off the increasing housing prices. Significant factors that will cause a market correction in the next two years include the Federal Reserve’s monetary policy and tightening of credit…
Setting goals is something that everyone has heard of, but very few people implement. Goal setting takes discipline to put into action and more so to stay consistent with it. If you understand the 5 SMART goal methodology and how to write SMART goals, naturally, you’ll be able to accomplish more in a short period…
The Richest Man In Babylon is a fictional story with sound principles that have helped people become wealthy through their application. This first part comes from the part of the book “Seven Curses For A Lean Purse”. Heed the advice in each of these sections, and your “purse” will become fat and overflowing with wealth….
EveryDollar is a budgeting application that is used by millions of people and families to keep track of how they spend their money and to do other budgeting activities. The EveryDollar app is a comprehensive monthly budgeting tool, allowing users to enter and track income and expenses on a monthly basis so that they can…
Buying a home is a lot easier than you might think. Yes, it’s a huge purchase, probably one of the largest purchases you’re going to make in your life, but the hurdles in the process mostly deal with time. If you’ve interviewed some rockstar real estate agents to purchase your home, you’re smart, because not…