Image by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways There are no specific income requirements to qualify for a mortgage — but mortgage lenders do evaluate whether you make enough to repay the amount you want to borrow. To determine if you’ll qualify, mortgage lenders review your debt-to-income ratio, credit…
Key takeaways Social Security is a federal program that provides income to retirees, survivors of deceased workers and disabled people. The average Social Security check for retirees is around $2,000 per month — slightly higher than the average benefit for survivors and people with disabilities. How many years worked, how…
Key takeaways Emergency loans can help cover a wide range of unexpected expenses when you don’t have enough savings. There are different types of emergency loans, including installment and revolving options. Personal loans and personal lines of credit offer lower interest rates and more flexibility. Payday and title loans have…
Key takeaways International students can get credit cards, but you’ll likely need an ITIN or someone who’ll let you become an authorized user on their card. A U.S. bank account can help, too. If you’re under 21, you’ll need an adult co-signer or a way to prove you can repay…
Trending
Spotlight This Week
More Articles
Personal Finance
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
If a society is going to make intelligent choices in policy, it helps to understand reality, which includes facts and…
New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
Featured Articles
Inverse exchange-traded funds (ETFs) offer a way for contrarian traders to bet against the expected daily performance of an asset class, such as stocks or bonds. These risky investments, often in the form of inverse short ETFs, can be valuable for seasoned market pros. But…
Dept Managmnt
How First-Year Students Should Manage Credit Cards Responsibly Understanding how first-year students should manage credit cards responsibly means creating a clear system around…
Banking
When it comes to selling coconut water to the health obsessed, New York’s Vita Coco has served up a master class, schooling even…
Credit Cards
All News
Mentally exhausted. Emotionally overwhelmed. Trapped in an endless cycle of not enough sleep and too much caffeine just to make it through the day. . . Sound familiar? If you—or someone you know—are experiencing these symptoms, it might be a classic case of burnout. Gallup did a study of almost…
Key takeaways Adjustable-rate mortgages (ARMs) have gained popularity as homebuyers struggle to deal with today’s stubbornly high rates. ARMs generally have slightly lower rates than fixed-rate mortgages. If you expect rates to fall, or plan to move before the initial fixed-rate period expires, getting an ARM can make sense. With…
In the first 100 days of presidency, a lot happens. There’s the peaceful transfer of power, the setup of a new administration, and the pressure to make good on all those campaign promises. Wasting no time in his first 100 days, President Biden shared his plans for two big pushes…
If you’re overwhelmed by debt and don’t know where to start, begin by gathering all your financial information, including your income, expenses, and debts. Then create a simple monthly budget, prioritize your highest-interest debts, and start building a small emergency fund. Even a small emergency fund—just $500 to $1,000—can prevent…
If we were to simplify our emotional needs to the core, we’d discover that we’re always asking ourselves two questions: Am I safe? and Do I belong? And when we’re abandoned—whether it’s through a parent’s divorce, neglect, a breakup, infidelity—the answer to both of those questions is a terrifying and…
Picture this: you hear birds chirping, smell the earthy scent of pine or oak and feel the sun on your skin before you’ve even opened your eyes for the morning. The camping trip you put together on an affordable budget has finally come to fruition. Not everyone can afford an…
When it comes to investing, most people think of securities like stocks and bonds. These investments, along with cash, are considered traditional investments and make up the bulk of retirement portfolios for most investors. But another category known as alternative investments also exists and has grown significantly in recent years.…
Bills, bills, bills—if you feel like there have been about a hundred different bills coming out of Capitol Hill these days, you’re not alone. The truth is, bills happen all the time (in fact, it’s kind of a big part of how the U.S. government operates). But these massive spending bills have…
Key takeaways Charge cards look and feel like credit cards, but require you to pay off the balance in full every billing cycle. You can often make large purchases and earn rewards with a charge card, but beware high late fees for any missed payments. Charge cards affect your credit…
An increase of $125 each month means either changing your spending habits, finding additional income, or increasing your reliance on credit cards, overdrafts, or other forms of credit to supplement your lifestyle. In addition, a sustained payment increase of more than $150 per month, without a decrease in expenses or…
Editor's Pick
