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what are unrealized gains and losses | unrealized gains or losses represent the amount you would gain or lose if you sold your investment often a stock at its current value you realize these gains or losses when you actually sell the investment | |
what is the difference between preferred stock and common stock | when people talk about stocks they are usually referring to common stock which is stock that usually gives voting rights in shareholder votes preferred stock almost never confers voting rights but if a company only has enough money to pay some of its dividends it has to pay preferred stock dividends first in addition in the event of a bankruptcy preferred stockholders have priority over common stockholders on company assets | |
what s the difference between cyclical and non cyclical stocks | cyclical stocks are those that tend to rise and fall with the broader economy falling when the economy is doing poorly and rising when the economy is doing well non cyclical often also called defensive stocks tend have steadier performance that do better when the economy is down are down but peak less high during boom years | |
what is the bonds ? | bonds are lower risk and lower return investments than stocks which makes them an essential component of a balanced investment portfolio especially for older or more conservative investors | |
what s the difference between treasury bonds notes and bills | treasury bonds notes and bills are all fixed income securities issued by the u s treasury the primary difference between them is their maturity dates and the frequency of interest payments treasury bills have the shortest maturities ranging from four weeks to one year and they only pay interest when they mature treasury notes are issued with maturities ranging from two to 10 years and pay interest every six months and treasury bonds mature in either 20 or 30 years also paying interest every six months | |
what is the can inverted yield curves predict recessions ? | an inverted yield curve is widely considered one of the most reliable indicators of an impending recession an inverted yield curve has preceded every u s recession since 1955 with only one false alarm though the inverted yield curve observed in 2019 which preceded the short recession triggered by the covid 19 pandemic should hardly be interpreted as a predictor of that recession | |
why are bond prices and yields negatively correlated | bond yields move in the opposite direction of prices because the bond s coupon rate is fixed but the appeal of that bond and its coupon rate on the secondary market changes with economic conditions if interest rates rise bonds issued with lower coupon rates become less attractive to potential buyers who could get a higher rate of return on a new bond subsequently the bond s price declines an investor who buys that bond at a discount will receive coupon payments on the bond s face value not its market value meaning their return will be greater than the official coupon rate yields decrease as bond prices rise for the same reason | |
how do i cash in my u s savings bond | you can cash in most paper u s savings bond at a bank or credit union the exception is series hh bonds which were discontinued in 2004 these need to be mailed to treasury retail securities services with a specific form electronic bonds can be cashed in online at treasury direct which will transfer the proceeds to your checking or savings account within a couple of days | |
what is the etfs ? | etfs are baskets of stocks or bonds that trade like regular stocks they re usually passively managed meaning they seek only to match the underlying benchmark index | |
what is a leveraged etf | a leveraged exchange traded fund etf is a security that uses financial derivatives and debt to boost the returns of an underlying benchmark index so while a traditional etf may track securities of an index on a 1 1 basis a a leveraged etf may target a higher mark for a 2 1 or 3 1 ratio | |
are etfs or mutual funds better for young investors | many young or novice investors may have heard about exchange traded funds etfs or mutual funds and are wondering which may be the better option here are some things to keep in mind when deciding between the two investing options first typical mutual funds are actively managed rather than passively tracking an index which can be an advantage many mutual funds also may require a minimum investment but many brokers now offer commission free etfs generally speaking etfs are more tax efficient and more liquid than mutual funds which is also something young investors should weigh | |
what is an exchange traded product etp | exchange traded products are financial instruments that track a benchmark index or a basket of underlying securities that trade on exchanges similar to stocks and bonds that are bought and sold in the open market some popular ones include exchange traded notes exchange traded funds and other related products | |
what is a stock exchange traded fund etf | a stock exchange traded fund is a financial product that tracks a basket of equities which is an investing option that helps investors diversify their investments in a specific industry or set of companies limiting the risk of investing in a single stock those funds also offer a more cost effective way to get exposure to a selection of stocks that track a specific index industry or category of equities | |
what is a bond etf | similar to a stock etf a bond exchange traded fund is a financial product that tracks a basket of debt which is an investing option that helps investors diversify their investments in a specific industry or set of companies limiting the risk of investing in a single bond they can mirror bond mutual funds that have a debt portfolio of various risk profiles from safer u s treasuries to higher yielding bonds of varying maturities and risk exposure | |
what is an inverse etf | an inverse exchange traded fund is a derivative product that uses securities tied to a benchmark index to profit from a decline in value of the underlying index inverse etfs are also known as short etfs or bear etfs since the strategy involved investing on market declines or short positions in order to profit from the strategy inverse etfs typically have higher fees compared to traditional etfs and can lead to losses if investors calculate the market direction incorrectly | |
what is a cryptocurrency etf | cryptocurrency exchange traded funds etfs track the price performance of cryptocurrencies by investing in a portfolio linked to their instruments like other such funds crypto etfs trade on regular stock exchanges and investors can hold them in their standard brokerage accounts | |
what is the options derivatives trading ? | options are derivatives that are often used by traders and investment professionals to manage or reduce their risk understanding options and other derivatives can enhance a trader s profitability | |
is options trading a derivative | yes the simplest derivative investment allows individuals to buy or sell what is known as an option on a security an option is a contract to buy or sell a specific financial product various derivative instruments besides options include swaps futures and forward contracts the investor does not own the underlying asset but they hope to profit by making bets on the direction of price movements spelled out in the contract | |
what are derivative etf futures and options | simply put etf futures and options are derivative instruments tied to exchange traded funds futures represent an agreement to buy or sell shares of an underlying etf at an agreed upon price on or before a certain date in the future options in contrast give the holder the right but not the obligation to trade the underlying etf shares at an agreed upon price on or before a specified date in the future | |
how big is the derivatives market | the actual size of the derivatives market depends on what a person considers part of the market and so estimates vary widely the entire derivatives market is simply put huge and top estimates can be more than 1 quadrillion on the high end based on what is included as a derivative the larger estimates come from adding up the notional value of all available derivatives contracts for example the overall derivatives markets include products including options warrants swaps credit default swaps futures contracts and forward contracts as just a handful of examples some analysts argue that such a calculation doesn t reflect reality in that the notional value of a derivative contract s underlying assets does not represent the actual market value | |
what is a forward contract | a forward contract is a derivatives instrument that is one of the oldest and most common types of derivative securities in which counterparties agree to buy receive or sell deliver an asset at a specified price on a future date they are used as a form of risk management in that a forward contract can be used for hedging or speculation they are quite common in foreign exchange markets as a way for investors to take advantage of arbitrage opportunities from various global currency markets | |
what are etf futures | etf futures are a kind of financial derivatives product built on existing exchange traded funds a futures contract is an agreement to buy or sell shares of an underlying etf at an agreed upon price on or before a specified date | |
what is the commodities ? | commodities are basic goods interchangeable between producers such as grains gold beef oil and natural gas as an asset class they are highly speculative and are especially sensitive to economic shifts | |
what is a commodity | a commodity is a basic good that is interchangeable with other goods of the same type they are often used as inputs in the production of other goods or services and while the quality of a given commodity may differ slightly it is essentially uniform across producers | |
what commodities do well in inflation | commodities precious metals agriculture goods and oil gas have often been positioned as hedges against inflation however commodities tend to respond to changes in the dollar s relative strength in international markets rather than domestic inflation pressures | |
how do commodities markets work | commodities work differently in spot markets and derivatives markets in spot markets the buyers and sellers exchange cash for immediate delivery of the commodity in derivatives markets the buyers and sellers exchange cash for the right to future delivery of that commodity derivatives holders will often roll over or close out their positions before delivery can happen since they aren t necessarily looking to hold the commodity but just speculate on its value | |
what raw materials do auto manufacturers use | the automobile industry is one of the largest consumers of the world s raw materials some of the most common materials that industry relies on include aluminum glass and the iron ore to make steel as well as petroleum products used to make plastics rubber and other special fibers | |
what is the trading ? | get expert advice on finding the right broker learn to trade stocks and understand how to evaluate the markets | |
what s the difference between trading and investing | investing takes a long term approach to the markets while trading involves short term strategies to maximize returns daily monthly or quarterly investors are more likely to ride out short term losses while traders will make transactions that can help them profit quickly from fluctuating markets | |
how do i start trading | how much money you need to begin trading depends on the type of securities you want to buy stocks typically trade in round lots or orders of at least 100 shares to buy a stock priced at 60 per share you will need 6 000 in your account a broker may let you borrow half of that money but you still need to produce the other 3 000 to trade options and futures those trade by the contract a contract represents some unit of the underlying security in the options market one contract is good for 100 shares of the stock | |
do day traders make money | results vary widely depending on various trading strategies risk management practices and amounts of capital available for day trading according to university of california researchers brad barber and terrance odean they found that many individual investors hold undiversified portfolios and trade actively speculatively and to their own detriment 1 day traders also can be hit with high brokerage fees and other charges that cut into their profits | |
how does trading and the stock market work | the prices of shares on a stock market can be set in a number of ways the most common way is through an auction process where buyers and sellers place bids and offers to buy or sell a bid is the price at which somebody wishes to buy and an offer or ask is the price at which somebody wishes to sell when the bid and ask coincide a trade is made | |
how do you make money with options trading | options allow for potential profit during both volatile times which is possible because the prices of assets like stocks currencies and commodities are always moving no matter what the market conditions are there is an options strategy that can take advantage of those conditions to profit while taking on the risk of losing money as well | |
what is the financial technology automated investing ? | from online brokerages increasing the ease of trading to mobile banking lowering the barriers for consumers to have access to the banking system fintech has brought many advantages for consumers | |
what is fintech | fintech is a portmanteau of the words financial and technology and refers to technologies used in the financial sector of the economy this includes things such as online banking apps online stock brokerages and mobile payment apps | |
what is moore s law | moore s law is a name given to a prediction by intel co founder gordon moore that the number of transistors that could be put on a computer chip would roughly double every 2 years this trend held true for several decades after it was made in the 1960 s and the exponential increase in transistor density has continued albeit not at the same rate | |
what is quantum computing | quantum computing is a field of computing that uses the principles of quantum mechanics to change the way computers store and process information specifically instead of data being stored as bits which are individual units of binary code they would be stored as qubits a portmanteau of quantum and bits qubits would be able to be in a quantum superposition of being both 0 or 1 which would allow significantly great processing capability | |
what is open banking | open banking is a practice that involves the sharing of financial data between financial service providers through the use of application programming interfaces apis this practice could potentially open up new options to consumers and or significantly compromise individuals data security and privacy | |
what is the brokers ? | from beginners to advanced traders looking for options trading international exposure and alternative investments there is a brokerage firm for every investor across all levels of experience income and risk tolerance learn how brokers work and which ones are the best for you | |
are brokerage accounts fdic insured | brokerage accounts are not fdic insured like deposit accounts at banks instead the money you have in a brokerage account may be insured by the securities investor protection corporation sipc the sipc doesn t insure you against losses resulting from market activity or fraud the sipc will reimburse investors for up to 500 000 including 250 000 in cash in the event of a firm s insolvency the sipc only covers member firms | |
what is the can i open a brokerage account for my child ? | yes because minors are not eligible to open their own brokerage account parents and guardians can open and manage a custodial account in a child s name funding options for custodial accounts include cash stocks and mutual fund transfers the process of opening a custodial account involves providing personal and banking information and completing a series of forms online | |
how do you open a brokerage account | find the best brokerage firm and account that satisfies your investing style and needs then evaluate how a brokerage can help you manage risk apply for and set up the account and then fund the account before investing your money in the brokerage account consider educating yourself about how stocks and other investments work remember investing always comes with the risk of losing your principal deposit | |
what is brokerage cash | brokerage cash is a top line cash total in your investing account it s the cash amount before stripping out items like unsettled trades and collateral not all of your brokerage cash is immediately available for trading or withdrawing that would be a bottom line number which may be called buying power cash available for withdrawal or something similar cash in these accounts can be parked to collect interest reinvested or withdrawn for paying bills | |
what s the difference between a taxable brokerage and an ira | brokerage accounts are taxable investment accounts through which you can buy and sell stocks and other securities iras are designed for retirement savers and allow tax free or tax deferred growth on the investments you hold in the account unlike brokerage accounts iras have strict contribution limits and withdrawals may trigger a penalty brokerage accounts and iras are taxed differently which can be a deciding factor when choosing an account | |
what is the fundamental analysis ? | fundamental analysis is one of the cornerstones of investing and gives you tools to help determine the value of different investments from swot analysis to pe ratios learn the tools of fundamental analysis here | |
what is the difference between qualitative and quantitative fundamental analysis | quantitative fundamental analysis analyzes an investment according to easily measured factors such as the earnings or assets of the company that issued a stock qualitative analysis looks at harder to measure factors such as the quality of a company s management or the strength of its brand there is not a hard line between the two and some factors can fall into both categories | |
what is the difference between fundamental analysis and technical analysis | fundamental analysis looks to see whether an investment is overvalued or undervalued based on underlying economic conditions as well as the finances of the company or other organization that issued a stock or bond technical analysis instead looks at patterns in the price of an investment to predict future movements in that investment s price | |
why do investors read financial statements when doing fundamental analysis | financial statements contain many of the key metrics that help investors determine if a company is undervalued or overpriced financial statements have a company s level of profitability how much it holds in different types of assets as well as how fast its sales and profits have grown over time all of these figures are core parts of determining if a company is properly valued | |
what is a good pe ratio for a stock | there is no one answer to this question as different companies will naturally have different pe ratios for example mature companies in defensive stock sectors generally have low pe ratios while early stage companies or companies in fast growing sectors often have very high pe ratios to make the most of pe ratio as a metric of company value make sure to compare pe ratios to similar companies in similar sectors as well as to the same company at different periods in the past to get better comparisons | |
what is the savings accounts ? | learn all there is to know about savings accounts from regular passbook to high yield to hsas discover where to get the best interest rates how they are taxed and how a savings club works | |
what makes a savings account a high yield account | a savings account is considered high yield if it pays more than a financial institution s regular demand deposit or passbook savings accounts high yield savings accounts are typically money market savings accounts that are limited to six withdrawal transactions per month | |
are savings accounts subject to income tax | interest earned on savings accounts is reported to the irs by commercial banks and other financial institutions and therefore is subject to federal income tax as regular income interest is reported on form 1099 to bank customers typically in january each year for the previous tax year | |
how do savings accounts differ from a roth ira | both savings accounts and roth iras are funded with after tax dollars by individual investors however unlike savings accounts any capital appreciation earned with a roth ira is not subject to federal income tax growth in savings accounts in the form of interest is subject to taxation | |
how is interest calculated on a savings account | simple interest for a savings account is calculated by multiplying the account balance by the stated interest rate and then multiplying by the time period the money is in the account interest principal amount x interest rate x time period | |
how is a savings account different from a checking account | a savings account is different from a checking account in that it is meant for accumulation of funds and earning interest rather than being a transaction account accessible with checks and debit cards savings accounts can be freely accessed by the account holder through deposits and withdrawals on demand and generally pay higher interest than checking accounts but are not designed for payment transactions | |
what is the certificates of deposit cds ? | learn all about various types of certificates of deposit how they work and how they potentially fit into your savings and investment planning browse investopedia s expert written library to learn more | |
what is the can you build credit with cds ? | cds along with other types of deposit products do not build credit only borrowing money through some type of loan from a financial services lender that reports to credit bureaus like with a car loan personal loan or credit card can build a credit history | |
are cds different from u s savings bonds | yes cds are different from u s savings bonds in that cds are a deposit account that have a fixed term held with commercial banks and u s savings bonds are debt obligations of the united states federal government u s savings bonds also offer fixed terms that pay interest at maturity but provide longer term options compared to traditional cds | |
how can an individual invest with certificates of deposit | investable funds can be deposited in certificate of deposit instruments of various terms with commercial banks where they will earn fixed or variable interest that is payable at maturity | |
which is a better savings option cds or money market savings | certificates of deposit typically pay higher interest than money market savings accounts due to the fact that they are less liquid and involve a penalty for early withdrawal money market savings accounts allow for limited withdrawals but do not have a maturity date or early withdrawal penalty involved the better option depends on whether yield maximization or flexibility is more important to your financial needs | |
what is the money market account ? | what is a money market account and how does it fit into your financial plan learn to compare yield to other savings and investment vehicles and where the best money market accounts are to be found | |
how are money market funds regulated | money market funds distinct from money market deposit accounts are a type of mutual fund that are regulated by the securities and exchange commission sec regulations were significantly updated in 2016 that notably include establishing a floating net asset value nav for funds vs the previous fixed net asset value of 1 per share | |
what is the difference between money market savings and money market checking | money market savings accounts are deposit accounts rather than transaction accounts though they do allow up to six withdrawals per month money market savings and checking accounts both pay variable interest money market checking accounts also called high yield checking accounts have minimum checking transaction and direct deposit requirements unlike money market savings accounts | |
what are some misconceptions about money market accounts | money market accounts are often confused with money market funds which are a type of mutual fund other misconceptions include that money market accounts protect deposits from inflation which they do not and deposits are protected from bank failure regardless of amount as with other types of deposits money market accounts are only protected up to 250 000 per account | |
what are examples of money market funds | money market funds are a type of mutual fund some types of money market funds include u s treasury funds u s government and agency funds and tax free municipal money funds another type of money fund is a diversified taxable money fund that invests in such things as commercial paper and repurchase agreements offered by u s and foreign corporations | |
are money market accounts safe | money market savings and checking accounts such as those offered by commercial banks are safe as they are insured by the federal deposit insurance corporation fdic up to 250 000 per account money market funds are mutual funds and as such are not insured by the fdic most however invest in u s government securities and are therefore backed by the full faith and credit of the united states government | |
what is the checking accounts ? | understand the different types of checking accounts and which is best for you learn about overdraft protection and other ways to manage your account | |
what is involved with endorsing a check | endorsing a check involves the named recipient of the check signing their name to the back of the check in the spot indicated for endorsement the act of endorsement signifies receipt and acceptance of the funds transfer from one party to another and allows for deposit or transfer of funds check endorsement is also a fraud prevention measure required by banks as it confirms the identity of the recipient | |
how do you open a checking account online | opening a checking account online is a simple process that involves navigating to the website of the chosen financial institution and clicking on the button indicated for opening a new account once the type of account is selected then personal information is entered that includes name address phone number age and social security number an online account is typically funded by either direct deposit or electronic funds transfer which can be facilitated at account opening | |
how do you cancel a check | canceling a check involves contacting the bank on which check was written by mail in person or electronically and requesting a stop payment order which prevents the check from being honored or cashed the stop payment order must be requested and received by the bank within 14 days of the date the check was written and typically stays in effect for six months | |
what are the pros and cons of online checking accounts | online checking accounts that pay interest typically offer higher interest rates than those offered by local brick and mortar banks they are easy to set up and offer all the advantages of a traditional bank checking account however online checking accounts do not offer the in person customer service of a physical bank in case of questions or issues with the account they are also potentially more vulnerable to cybersecurity threats | |
how long is a check considered valid for deposit | banks will honor checks written within six months after that date banks are not legally required to honor checks requiring the original writer of the check to issue a new check if the party is willing travelers checks and money orders do not expire however | |
what is the banking ? | banking in the 21st century means being able to conduct all transactions digitally without needing to physically visit a branch location deposits withdrawals payments and transfers can be conducted online or by phone app as well as applications for credit cards and loans | |
how does banking work | banks are a very important part of the economy because they provide vital services for both consumers and businesses banks provide a secure way to store protect and provide access to customer deposits consumers can conduct routine banking transactions through checking accounts atms and electronic transfers while earning interest on their deposits held in deposit accounts like savings certificates of deposits and in certain demand deposit accounts | |
what is the history of deposit insurance | the federal government began offering insurance on bank deposits in march 1933 through the creation of the federal deposit insurance corporation fdic after more than 9 000 banks failed as a result of the great depression the fdic is an independent agency that was created to boost confidence in the health and well being of the national financial system and currently offers 250 000 of coverage per customer per account | |
are big banks a safer option for deposits | larger banks can provide relatively more financial stability compared to smaller financial institutions like state and community banks and other financial institutions while the u s banking system is very strong including at the state and community level larger banks are usually nationally chartered commercial banks that are guaranteed to provide fdic insurance on deposits and are less likely to default on their obligations due to federally mandated capital reserve requirements | |
what is a national bank | a national bank is a commercial bank that is chartered by the u s comptroller of the currency and functions as a member bank of the federal reserve as well as being an investing member of its district federal reserve bank national banks are required to be members of the federal deposit insurance corporation fdic and provide deposit insurance coverage to their customers | |
what are bank fees | bank fees are charges levied by banks and other financial institutions on their personal and business customers for things like account set up maintenance and transactional services other examples of bank fees are wire transfer fees automated teller machine atm fees non sufficient fund nsf fees and late payment charges | |
what is the budgeting savings ? | the best high tech and low tech strategies and tools for managing your money learn how much to save which apps to use which debts to focus on how well you re doing for your age | |
what is the difference between budgeting and savings | budgeting is the act of putting together a budget which is an estimate of your revenue and expected expenses for a given time period savings refers to the money left over after your expenses are subtracted from your revenue also within a specific time period by creating a budget you may be able to locate and cut any unnecessary expenditures thereby increasing your savings | |
why are budgeting and savings important | by keeping tabs on your expenses and giving yourself a plan to follow budgeting makes it easier to meet your financial goals savings meanwhile are important because living paycheck to paycheck isn t viable in the long term if you are unable to accumulate savings you could be in serious financial trouble in the event of an unexpected expense such as a large medical bill | |
what is a good way to budget | the first step to budgeting is determining your net income i e your total salary minus taxes and employer provided programs for a given time period the next step is to figure out your fixed and variable expenses for the same period of time you can then either decide how to utilize any surplus funds or find ways to reduce your expenses if they exceed your income there are several budgeting plans available that can help you allocate an appropriate amount of money to each type of expense | |
what is the 50 30 20 rule | the 50 30 20 rule is a budgeting technique that was created by senator elizabeth warren the idea is that people will be able to more easily achieve greater financial stability by dividing specific shares of their spending between distinct categories the three categories of the 50 30 20 rule are 50 allocated to needs i e rent healthcare etc 30 to wants i e travel entertainment etc and 20 toward savings debt i e retirement student loan payments etc | |
what is the personal loans ? | understand when it s a good time to get a personal loan what you need to know before getting a loan such as interest rates and risks associated with persian loans as well as the best lenders to consider | |
what are the tax consequences of personal loans | personal loans are not counted as income and are therefore not subject to federal income tax interest on personal loans is not tax deductible as with mortgage loans however if personal loans are ever partially or completely discharged or forgiven as part of a personal bankruptcy or a debt restructuring the amount not paid will be considered income and will be subject to federal income tax | |
do personal loans affect credit scores | applying for one or more personal loans can affect your credit score as lenders must pull your full credit report before approving a loan in order to determine your creditworthiness a full credit check also known as a hard pull of your credit can temporarily lower your credit score by a small amount how you maintain the status of your personal loan also affects your credit score if you make payments on time and in full it will help your credit score and if you don t it will hurt your score | |
are there risks associated with personal loans | as with taking on any type of debt personal loans can present certain risks the biggest being not being able to service the debt in the form of making monthly payments this can lead to damaged credit having the debt go into collections and potentially having to take drastic steps like declaring personal bankruptcy | |
are credit cards considered a personal loan | credit cards are similar to personal loans in that they are extensions of unsecured credit however personal loans are generally lump sum loans made by lenders to consumers with a specific repayment term and fixed interest rate credit cards are revolving lines of credit with balances that can be paid back over time if not paid in full each month | |
what should you know about personal loan interest rates | interest rates on personal loans can vary significantly based on the credit score of the borrower as well as income level amount borrowed and the lender involved most personal loans are made at fixed interest rates but variable interest rates that are indexed to the prime rate will likely become more common in a rising rate environment as lenders seek to keep consistent profit margins | |
what is the insurance ? | insurance is a broad topic that includes protections of homes cars or boats personal health and life itself it is designed to protect against financial loss resulting from unforeseen circumstances by sharing or pooling the risk of loss with other policyholders | |
how do insurance companies make money | insurance companies generate revenue from premiums paid on outstanding policies and net profit on the difference between revenue and policy claim expenses | |
why do insurance policies have deductibles | insurance policies often have deductibles especially with health and auto insurance in order to partially offset the cost of providing coverage by the company and can keep premiums lower if customers opt for higher deductible amounts | |
do men and women pay the same for insurance coverage | there is definite gender bias in insurance coverage depending on type of insurance with auto insurance there can be gender discrimination tied to income and credit scores while with life insurance women generally pay lower rates due to longer life expectancy | |
what is the can bundling insurance policies save money ? | yes insurance carriers typically offer significant discounts for those who have multiple types of coverage with their company such as bundling car and homeowners insurance | |
what is the mortgage ? | mortgages are an essential part of the homebuying process for most borrowers who aren t sitting on hundreds of thousands of dollars of cash to buy a property outright there are a multitude of different types of home loans available for whatever your circumstances may be | |
what is the can i pay my mortgage online ? | many mortgage servicers accept online payments directly through their websites register for an online account and connect your checking account so you can schedule payments another option is to use the online bill pay service through your checking account to pay for your mortgage make sure to find out how far in advance you need to schedule your payment so your loan servicer receives it on time | |
what is the if you have bad credit do you have to buy a house using cash ? | if your credit is bad you can still be approved for a mortgage through a federal housing administration loan with 10 down as long as your credit score is at least 500 you also may be able to improve your credit more quickly than you think to qualify for a conventional mortgage | |
what are typical closing costs | closing costs are the fees over and above the property purchase price due at the closing of a real estate transaction they may include fees related to the mortgage loan origination and underwriting commissions taxes and insurance premiums as well as title and record filings | |
what questions can t you be asked as a borrower | lenders are prohibited from discriminating against borrowers who are ill or disabled so they are not allowed to ask questions related to your physical condition under the equal credit opportunity act lenders are not allowed to ask if you are planning a family in the past this question was used to discriminate against female borrowers because lenders assumed women would quit work when they became pregnant | |
how much income history do i need for a self employed mortgage | the longer you can prove income history for self employment in the same industry the more likely you are to be approved for a mortgage as a general rule you ll want to have at least two years of documented self employment income at or above the level you need to afford the loan you want |
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