PC Photography/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways With owner financing, the homeowner or seller extends a loan to the homebuyer, rather than a bank or mortgage lender providing the loan. The contract can be structured in a number of ways, including as a second mortgage, a rent-to-own deal…
Most people are used to seeing sales tax on a receipt, but not every purchase includes it. When it doesn’t, you may still owe tax on that purchase through what’s called a use tax. This comes up most often with online shopping, out-of-state purchases and private sales. Understanding the difference…
Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into debt can happen to any one at any age, and for a variety of reasons. The suggestion that younger generations are “terrible with money” is certainly not…
Key takeaways Down payment amounts vary widely depending on home prices and loan types. They can range from less than $10,000 to $200,000 or more. Most housing market data focuses on the median down payment, rather than the average, because it’s a better measure of what the typical borrower contributes.…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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Get to Work – As Much as You Can Did you know almost half of Canada’s post-secondary students take on student loan debt? And then pay for additional, nice-to-have lifestyle expenses on their credit cards? Tackle your debts by getting a job – this could…
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Paying off Debt on a Fixed Income: Making Sacrifices and Learning Patience Paying off debt on a fixed income requires discipline. Jill emphasizes…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Key takeaways The Federal Reserve sets interest rates for banks to borrow from each other, which in turn sets interest rates for business loans and lines of credit. The Fed’s rate sets the pace for borrowing costs, making it easier or harder for businesses to get approved for loans. The…
Key takeaways Access to credit is tightening for all consumers, but particularly for consumers with subprime credit scores of 699 or lower. Both new and used vehicle prices remain high, and approvals for subprime borrowers have declined since the first quarter of 2025. Pre-tariff inventory is declining, and vehicles manufactured…
Key takeaways Leasing an electric vehicle (EV) allows you to test out the driving experience without committing to full ownership. A lease will often have a lower monthly payment than an auto loan, and some leasing companies will offer an upfront discount that covers the federal tax rebate. Buying an…
To pay off holiday credit card debt fast, you should prioritize high-interest debt using the “Avalanche Method.” In addition, increase your payment frequency to weekly/bi-weekly instead of monthly and immediately apply financial windfalls like tax refunds to your principal. Combining these steps with a strict 2026 budget and professional credit…
Key takeaways Secured auto loans are the most common financing option for borrowers looking to purchase a vehicle. These types of loans tend to offer larger loan amounts and more competitive interest rates compared to unsecured auto loans. In most cases, a secured auto loan is the right move. A…
Key takeaways A personal loan can get you cash within days at a fixed rate and steady payment. Personal loans tend to carry lower, more affordable interest rates than credit cards, if you have good or better credit. Before deciding to get a personal loan, consider potential downsides, such as…
Image: Getty Images; Illustration: Bankrate HELOC rates are feeling the impact of the Federal Reserve’s recent quarter-point rate cut. The $30,000 home equity line of credit fell 18 basis points to 7.63%, its lowest level in almost three years, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year…
Key takeaways A longer loan term means you’ll have a lower monthly payment, but you’ll also pay more in interest. A shorter loan term helps minimize borrowing costs and the risk of being upside-down on your loan. Consider the monthly payment and overall cost of ownership when determining which auto…
Key takeaways Buying a new car allows for customization and the latest technology, but it comes at a higher price and loses value quickly. Used cars are less expensive and slower to depreciate, but may require compromises and can come with higher maintenance costs. When deciding between new and used,…
Most drivers only interact with a rental car on vacations or time away — and for many, they can also be a means to getting a vehicle of their own. While rental cars go through many drivers, they also typically have thorough maintenance records and a low price tag. But…
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