Interest rates are the cost of borrowing money. The amount charged for this loan is commonly referred to as the interest rate. Interest rates can vary based on several factors, including the amount borrowed...

Debt consolidation is the process of combining all your debt (credit card, mortgage, student loan) into one monthly payment. A consolidated debt is paid off with a single loan.

A credit report is a detailed record of an individual's credit history, including their past and current loans and payment habits. This information is used by lenders to determine an individual's creditworthiness when applying...

In finance, liability refers to an obligation or debt that an individual or company is responsible for repaying. This can include items such as loans, credit card debt, and unpaid taxes. Liabilities must be...

Escrow is a financial arrangement where a neutral third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps to ensure that both parties fulfill...

A FICO (Fair Isaac Corporation) Score is a measure of creditworthiness, calculated using information from the consumer's credit report.

Over the last decade, the price tag of a college education has continued to climb higher and higher. So much so that it has become a hot topic in recent years, with politicians and...

A mortgage is a loan used to purchase a property. The borrower makes monthly payments toward the loan, which go towards paying off the principal amount borrowed as well as interest on the loan.

An FHA loan is a mortgage insured by the Federal Housing Administration. This type of loan allows for lower credit scores and a higher debt-to-income ratio compared to conventional loans.