Tax scams are becoming more sophisticated each year, especially during tax season when millions of Americans are filing and expecting refunds. Scammers take advantage of this urgency by posing as the IRS, offering false promises of larger refunds, or pressuring individuals into sharing sensitive information. Falling victim to a tax…
By Julie Jaggernath If you’re thinking about downsizing, crunch your numbers carefully because it might cost you more than it saves in the long run. Since the pandemic, the ability to defer mortgage payments has become a more seamless process. But given the persistent high cost of living, you might…
Does your grocery store hike the price of milk during your hurried commute home? Is it raising the cost of ice cream during a July heat wave? Are you seeing “personalized” prices based on your income or shopping history? As technology advances, these scenarios are becoming increasingly realistic. Put simply,…
Images by Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways Contrary to popular belief, you don’t actually have to put down 20% of a home’s price to get a mortgage. Some mortgages don’t require any down payment at all, and you can get a conventional mortgage with as little as…
Trending
Spotlight This Week
More Articles
Personal Finance
Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Featured Articles
Key takeaways A longer loan term means you’ll have a lower monthly payment, but you’ll also pay more in interest. A shorter loan term helps minimize borrowing costs and the risk of being upside-down on your loan. Consider the monthly payment and overall cost of…
Dept Managmnt
Key takeaways Car title loans are a convenient way to get fast cash if you own your vehicle outright. These loans are risky…
Banking
For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
Credit Cards
All News
Paying off your mortgage early saves you money on interest but it can also change your tax situation. Once the mortgage is gone you lose the mortgage interest deduction, which may reduce the total amount you can itemize on your tax return. That could mean a higher taxable income than…
Home improvements can make your home more comfortable, raise its value and lower energy costs over time. Some projects may also qualify for tax credits or deductions. These tax breaks can reduce what you owe when you file your taxes. In other cases, the cost of improvements can increase your…
PC Photography/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways With owner financing, the homeowner or seller extends a loan to the homebuyer, rather than a bank or mortgage lender providing the loan. The contract can be structured in a number of ways, including as a second mortgage, a rent-to-own deal…
Most people are used to seeing sales tax on a receipt, but not every purchase includes it. When it doesn’t, you may still owe tax on that purchase through what’s called a use tax. This comes up most often with online shopping, out-of-state purchases and private sales. Understanding the difference…
Most people see taxes come out of their paycheck without thinking much about where the money goes. Federal taxes follow one set of rules no matter where you live, but state taxes vary widely depending on your location. Some states have no income tax at all while others take a…
Key takeaways Down payment amounts vary widely depending on home prices and loan types. They can range from less than $10,000 to $200,000 or more. Most housing market data focuses on the median down payment, rather than the average, because it’s a better measure of what the typical borrower contributes.…
Spring is the season for renewal, a perfect time to perform a “deep clean” of your financial profile. While March marks National Credit Education Month, the real goal is gaining the freedom that comes with a top-tier credit rating. Whether you’re planning to buy a home, finance a car, or…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved up again this week, with the 30-year fixed rate averaging 6.19%, up from 6.15% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low…
Debt settlement companies technically aren’t allowed to charge fees until after lowering a consumer’s debt. But a loophole in the Telemarketing Sales Rule — and a mish-mash of federal and state laws — allows predatory firms the opportunity for exploitation. A growing corner of the $23 billion debt relief industry…
Image: Getty Images; Illustration: Bankrate No movement for home equity rates in the latest week. The $30,000 home equity line and the five-year $30,000 home equity loan were unchanged, holding at 7.18% and 7.84%, respectively, according to Bankrate’s national survey of lenders. As home equity rates remain at their lowest…
Editor's Pick
