Personal finance, explained with real numbers.
Almost every article on this question gives you a number: 620 for a conventional loan, 580 for FHA, 640 for USDA. One of those three is gone for most conventional loans, one still stands, and the …
Continue Reading about What Credit Score Do You Need to Buy a House? (The 620 Rule Is Gone) →
Most people budget a trip by pricing the flights, because flights are the part with an obvious number attached. Flights are usually under a quarter of the real cost. Here is the whole formula. The six …
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Ask what a move costs and most people quote the truck rental. The truck is usually the smallest line on the bill. Moving is a classic sinking-fund expense: predictable, lumpy, and consistently …
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Yes, 700 is a good credit score. It is also below the national average, two tiers from the top of FICO's scale, and four pricing bands below the best conventional mortgage rate on the Classic FICO …
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Everyone budgets for the price of the house. Almost nobody budgets for the other four categories, which is why "we can afford the mortgage" and "we can afford the house" turn out to be different …
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Renovation budgets do not blow up because homeowners are careless. They blow up because of a structural feature of the work: you cannot see inside the walls until you open them. Everything else …
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