Savings Corner

DECEMBER 25, 2023

Your debt-to-income ratio is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Property taxes: The annual tax assessed by a government authority on your home and land.

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Calculators Taxes Property Taxes Homeowner Insurance 52

Savings Corner

DECEMBER 25, 2023

Each payment includes a combination of principal and interest, as well as property taxes, and, if needed, mortgage insurance. Homeowners insurance may be included, or the homeowner may pay the insurer directly.) Your credit score. Mortgage lenders use credit scores to evaluate risk.

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Re-use Economy Homeowner Insurance Insurance 52

Savings Corner

APRIL 4, 2024

Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Here are a few common reasons why homeowners decide to refinance a mortgage: To lock in a lower interest rate and lower their monthly payments.

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Calculators Refinancing Insurance Homeowner Insurance 40

Savings Corner

APRIL 4, 2024

Determining whether you qualify: Many cash-out refinance lenders require a credit score of at least 620 and at least 20 percent equity in your home. Your cost to borrow could be lower: Cash-out refinances often have lower rates than home equity loans , personal loans and credit cards. This can be a boon for your credit score.

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Refinancing Work Debt Home Improvement 52