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Added on the 11/05/2018 16:31:43 - Copyright : Wochit
Paying taxes with a credit card to earn a big sign-up bonus or reward points makes sense for some. You can pay taxes with a credit card through third-party providers, not through the IRS website. Some states, cities, and counties allow you to pay income and property taxes with a credit card as well. Setting up a payment plan with the IRS is safer than using your credit card if funds are tight. Deciding whether it makes sense to pay an extra fee when filing your taxes depends on your card's rewards. You should also consider your ability to pay it off before the next statement due date, says Business Insider.
Going through the mortgage approval process can be tedious, time-consuming, and stressful. But working hard to get a lower interest rate is totally worth it. According to Business Insider, prospective homebuyers should give themselves at least a few months to get prepared for the rigamarole. First, get your credit score up as high as you can. Second, get your debt-to-income ratio as low as you can. Always pay on time, and pay off any credit card balances before applying for a new mortgage. Take at least a six-month moratorium from applying for new accounts as well. Finally, shop around for the best rate that's suitable for your particular situation. Good luck!
Housing prices show no price of dropping, and overall, US wages have remained stagnant for years, if not decades. But according to Business Insider, there are still a few ways one can purchase a home without having to come up with a downpayment--if you're prepared to put in the work. Active and former members of the military can get a Veterans Affairs loan of up to $484,350 in 2019, often with a lower interest rate than a conventional mortgage. This loan requires no down payment and no mortgage insurance--but comes with strict guidelines. The buyer must also pay a 'funding fee,' too. USDA loans help people in rural areas buy homes with zero money down, provided you have a 'low-to-moderate' income and can pay a 1% funding fee. An FHA loan asks for a 3.5% downpayment. However, it requires a credit score of 580 or higher and a debt-to-income ratio below 43%.
In July, the average credit score was 711, according to Business Insider. This is compared to a reading of 708 in April, according to a report by The Wall Street Journal. The report concluded that the increase in credit scores nationwide stemmed from two things: Financial assistance by the government and expanded unemployment benefits. The average credit score for Americans rose slightly during the novel coronavirus pandemic. This is even though times have gotten more stressful and difficult for many.
If it's time you should be moving into your own place, having time to prepare is your best friend. According to Business Insider, getting into your own rental isn't cheap, and it's not necessarily easy, either. The average one-bedroom apartment in the US rents for $1,621 per month. That could make for about $4,863 due at move-in for an apartment with a security deposit worth two months' rent. Before you go applying to landlords, figure out how much you can afford to spend on rent. Experts suggest spending no more than 30% of your take-home pay. Also, there may be additional costs. Gas and electric companies often require deposits, and there may be parking and pet fees on a monthly basis. Check your credit and get it within a healthy range. Save for your first and last month's rent, your security deposits, pet fees, and moving costs. Finally, once you've signed your lease, get renter's insurance immediately. Happy moving!
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