Jose Luis Pelaez Inc/Getty Images Key takeaways Short-term loans provide financing with a brief repayment period and often require collateral to obtain. These loans are generally capped at $2,000 and are often used by borrowers who are strapped for cash or who have a low credit score. Loan funds are…
Holiday spending came in at the high end of projected ranges for 2025 despite numerous economic challenges. According to Mastercard, U.S. retail sales (excluding automotive) increased 3.9% year-over-year from Nov. 1 through Dec. 21, 2025. CNBC and the National Retail Federation published a similar increase, reporting holiday sales grew 4.1%…
ljubaphoto/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways The interest rate on a mortgage indicates how much interest you’ll pay for the amount you borrow. The annual percentage rate (APR) is the interest rate plus additional fees and any points. When comparing loan offers, it’s best to compare APRs to…
Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one. The borrower receives the difference between the two balances in cash. The terms of your refinanced mortgage might differ from your original loan, including a new interest…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
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…
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VIEW press/Contributor/Getty Images Wells Fargo is a financial institution that offers its customers personal, small business, commercial, corporate and investment banking solutions. There are currently around 5,600 branches and 11,000 ATMs nationwide. Wells Fargo Bank near me You can find a Wells Fargo retail banking…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.By Jeff Kauflin, Hank Tucker and Nina…
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Key takeaways Giving money as a gift, whether it’s cash, gift cards or a money order can be convenient. You can personalize monetary gifts to suit a recipient’s preferences or needs. Understand the tax implications of monetary gifts. Gifts such as stocks, contributions to 529 plans or cash above the…
Value investing has proven to be one of the most successful investing strategies over the long term. Many of the world’s top investors, including the legendary Warren Buffett, have used the value approach to generate outstanding returns over time. In recent years, however, value stocks have drastically trailed growth stocks…
Jaskaran Kooner/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways FHA loan closing costs typically total 2 percent to 6 percent of a home’s purchase price and are charged in addition to the down payment. FHA closing costs include an upfront mortgage insurance premium (MIP), lender and third-party fees and prepaid expenses.…
Key takeaways New car replacement covers the cost of a brand new car of the same make, model and year if yours is totaled, rather than paying the claim out at actual cash value (ACV) after depreciation. This optional coverage can only be purchased for vehicles under a couple of…
Delahaye/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Down payment assistance (DPA) programs provide eligible homebuyers with loans or grants to help cover down payment and closing costs. These programs are typically reserved for first-time homebuyers or buyers with low to moderate incomes for their area. Many down payment…
As a certified student loan counselor, I’ve frequently heard borrowers complain about receiving confusing, even conflicting advice. And that’s when they can reach anyone at all — many federal loan borrowers struggle to get a human on the phone when trying to contact their assigned loan servicer. Given these struggles,…
Image by mbogacz/GettyImages/Illustration by Hunter Newton/Bankrate Key takeaways A construction-to-permanent loan finances the construction of a house and converts to a mortgage on completion. Construction-to-permanent loans require only one round of closing costs. They also require a down payment. With a construction-to-permanent loan, you can draw funds at specific phases…
“Location, location, location” has long been the golden rule of real estate. But in today’s challenging housing market, a new mantra is developing: “Insurance, insurance, insurance.” As homeowners insurance premiums rise across the country, buyers are facing a double hit — soaring home prices and costly insurance, which is required…
SDI Productions/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Lenders force-place insurance when borrowers fail to maintain coverage required as part of a loan or lease. Force-placed insurance is usually more expensive and doesn’t provide coverage for your belongings or personal liability. You can remove force-placed insurance by getting your…
Marie C Fields/Shutterstock Key takeaways It’s fine to get rid of monthly mortgage statements, but you should keep all your mortgage documents, including proof of title insurance and the promissory note, until your loan is paid off. Having your mortgage documents handy can be beneficial when filing home insurance claims,…
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