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Credit mix: A diverse mix of credit accounts, such as auto loans, mortgages, and credit cards, show banks that you can manage various types of debt. While this is another small factor that goes ...
You can refinance a car loan with a bad credit score to get a lower monthly interest rate if you can boost your credit score compared to the time of your original loan.
A down payment can also offset higher interest rates and lower your loan-to-value ratio, helping you qualify for better terms. While a larger down payment is generally better, lenders may be ...
There are five types of mortgages, including fixed-and adjustable-rate options, jumbo loans, government-insured mortgages and conventional loans. Mortgages come in 15- and 30-year options.
For example, if you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula would be $20,000 x .05 x 5 = $5,000 in interest. Who benefits ...
A good auto loan rate is generally any rate below the average for your credit profile. For drivers with excellent credit, the average rates are 5.07 percent for new cars and 7.09 percent for used ...
If you have a mortgage guaranteed by the Department of Veterans Affairs (VA), you can refinance even with bad credit with an Interest Rate Reduction Refinance Loan (IRRRL), also known as a VA ...
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