FHA Loan - FHA Mortgage

What is an FHA Loan or FHA Mortgage (Federal Housing Administration Loan)?

  I recently heard about FHA Loans on TV. But what is an FHA loan anyway? FHA stands for Federal Housing Administration. An FHA loan is a mortgage issued by an FHA-approved lender. These loans are meant for borrowers with low-to-moderate income, and are insured by the FHA. What are the advantages of FHA Loans? …

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FHA Loan - FHA Mortgage
Overdraft and Overdraft Protection

What Is Overdraft and Overdraft Protection?

  What Is an Overdraft? An overdraft occurs when you try to withdraw more money than what you have in your account, making your account balance negative. What happens in this case? Am I allowed to withdraw the money? Normally, the bank or credit union would refuse the withdrawal or return the check because of …

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Overdraft and Overdraft Protection
Credit Report

What is a Credit Report?

  What is a credit report? Credit bureaus like Equifax, Experian, and TransUnion collect information about your financial activity, employment history, etc. from banks, financial institutions and other sources, and create a report which is called a credit report. It is essentially a report card on how you manage your finances. What does a credit …

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Credit Report
LIBOR - London Interbank Offered Rate

What Is LIBOR (London Interbank Offered Rate)?

  What Is LIBOR? LIBOR stands for London Interbank Offered Rate. It’s the interest rate at which major banks lend to one another for the short-term in the international market. Why is LIBOR important? LIBOR serves as a well-accepted benchmark interest rate, based on which the interest rates for many other loans are decided. This …

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LIBOR - London Interbank Offered Rate

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