Financial forecasts and tips

Credit cards what should you know

Credit cards can be a wonderful opportunity to do things that would take you several years to achieve, or to help out in an unexpected emergency. However, there is another side to this opportunity, a side that can turn into a true nightmare. Maybe you are already aware of the potential nightmare of swimming in credit card debt. You might believe that balance transfer credit cards are an easy solution. This article is to help guide you from possible dangers and give you the knowledge necessary to find the best balance transfer credit cards available to you.

How to buy a home with bad credit

There are companies that would take advantage of your credit situation. They would have you believe that with bad credit, you will have to pay huge closing costs or rates double or triple of conventional loans to buy a home. Run from these lenders.

Subprime lenders offer bad credit loans at one to two points higher for each drop in credit rating. And loan fees are comparable to conventional loans. In order to find these companies, you need to request loan quotes.

With online lenders, you can receive these loan estimates within minutes. Based on your personal information, you can get a realistic picture of your loan costs and mortgage payment. And when financing through a subprime lender, you don’t have to pay for private mortgage insurance if your down payment is less than 20%.

Keep An Eye On The Future

When negotiating your mortgage, make sure you have the option to refinance in the future. Ask for no early payment fees, so you won’t have to pay thousands if you choose to move or refinance.