Articles by Christy Rakoczy:
HELOCs can help homeowners tap into the equity they have in their homes for relatively low-cost funding for things like a home improvement project. Learn more and find the best options below.
If you cannot repay your student loans, you have five options to consider. You can change your repayment plan, consolidate or refinance, defer payments, put loans into forbearance, or try to discharge or settle your debt.
An income-contingent repayment plan (ICR) is one option for repaying federal student loans. Payments are capped at a percentage of your income. It's the most expensive income-contingent repayment plan but, can be used to cap payments on Parent PLUS loans.
Both PAYE and REPAYE cap your payments at 10% of your monthly discretionary income. The main difference is that you can still use REPAYE if your monthly payments would be higher than on the Standard 10-Year plan, but not with PAYE.
A VA mortgage is backed by the U.S. Department of Veterans Affairs. These home loans have easier qualifying requirements for eligible military members and veterans. VA loan rates can change over time and your own situation can affect the rates you’re offered.
If you are buying a more expensive home, you will need to take out a larger mortgage. Mortgages above a certain dollar amount are considered jumbo mortgage loans. The dollar amount that dictates which loans are jumbo loans varies in different parts of the country.