Private mortgage insurance (PMI) is insurance that protects the lender if you don’t make payments on your home loan. If you’re putting less than 20% down on a home and taking out a conventional loan, you generally have to pay this cost at closing or as part of your monthly mortgage payments. What is PMI?…
As one of the most costly expenses in your budget, paying your mortgage with a credit card can help to quickly rack up credit card rewards. Your line of credit may also come in handy if you’re in a tight spot and need some extra flexibility with your mortgage payment. If you’re not careful, though,…
Money market accounts (MMAs) are deposit accounts that share features of savings and checking accounts. Like a savings account, your balance earns interest. However, you may also have the ability to write checks and/or use a debit card for account transactions like you would with a checking account. Besides having components of savings and checking…
A savings account is a simple tool that anyone can use to improve their finances. If you’re looking for an easy way to earn interest on your money, or you just want to make sure your cash is safe, a savings account is a great way to go. Plus, right now there are more reasons…
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