Check the definitions of the different financial terms

When you are going to hire a banking product, from a personal loan to a credit card, there are many technical terms that you often do not understand and that we recommend you understand to know exactly what you are acquiring. For this, in this section you will be able to consult the definitions of these expressions with a language that is easy to understand.

What FHA 203(k) rehab loans are and their requirements

The alternatives for buying a new or used home in the U.S. housing market are many. If you need to repair your home and you cannot find a bank to lend you the money, you can opt for an FHA 203K mortgage loan.This also serves to finance a home that needs rehabilitation, so read on and find out how it..

11/23/2022 Read more

What is the debt-to-income ratio?

Good personal finance management requires that you learn some basic concepts to understand the factors that allow you to borrow. This is the case with the debt-to-income ratio (DTI), an almost mandatory requirement to obtain a mortgage loan and other kind of loans. If you still don't know what ..

11/16/2022 Read more

What is debt consolidation and how to perform it?

Debt consolidation is a one-time situation that you don't want to face but is more common than you think. We say this because being drowning in fees, bills or lack of liquidity isn't exactly a dream life. Once you find yourself in this situation you can turn to this well-known method to bet..

11/15/2022 Read more

What is the Federal Housing Finance Agency (FHFA)?

There are agencies whose purpose is to ensure that the financial system that supports mortgage loans is in good hands. The Federal Housing Finance Agency, which complements the well-known Federal Housing Administration (FHA), was created for this purpose. Since we think it is important to know what ..

11/15/2022 Read more

Differences between credit and prepaid cards

With so many cards available in the U.S. financial system, it is to be expected that people are not sure how each one works. Since we're focused on improving your personal finances, we want you to know the differences between credit and prepaid cards so you know which one might work best for you..

11/11/2022 Read more

What is the Green Card and what is needed to obtain it?

Those who pursue the "great American dream" by immigrating to the United States know that they must ensure their permanence to avoid legal problems and fulfill their citizenship duties. This is achieved by obtaining the famous green card, about which we will talk more extensively for you t..

10/28/2022 Read more

Differences between checking and savings accounts

The appropriate choice of banking products should be focused on their usefulness for our personal finances. Due to lack of knowledge, there is a tendency among users not to be able to differentiate between a checking account and a savings account. For this reason, we clear up this confusion so that..

10/25/2022 Read more

What are Jumbo loans (large mortgage loans)

When we think of Jumbo mortgages or Jumbo loans, we may imagine something so big that we may not be able to handle. There is some truth to that statement and that is what we will try to find out more about in this article. What Jumbo Loans Are All About A jumbo loan represents a mortgage that excee..

10/24/2022 Read more

How to check your credit score?

What is credit score is like the master key that will open all the doors to financing. Due to its importance for banks and for you to improve your quality of life or that of your family, we will show you the available ways to check it when necessary. grow-credit It may interest you: Personal loans w..

10/21/2022 Read more

What are UGMA/UTMA custodial accounts?

The universe of banking instruments is quite broad, so the topic of personal finance can be overwhelming at times. To make things easier for you, we've saved you the trouble of interpretation and research for many relevant products. May interest you: Bank of America accounts This time we will..

10/21/2022 Read more

What are mortgage closing costs?

Buying a home in the United States is not a simple or cheap process, that's no secret to anyone. If you're thinking about buying a property, you have to worry about having the down payment (20% or more if you don't want to pay a Private Mortgage Insurance) and assuming the mortgage closi..

10/19/2022 Read more

Differences between credit and debit cards

As promoters of healthy personal finances, we understand that the habit of using a debit or credit card equally can be confusing. However, both banking products have some features you may not be aware of. It is precisely the differences between credit and debit cards that we are going to detail at ..

10/13/2022 Read more

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