Owner Financing: What It Is and How It Works

Mortgage

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…

US housing market stays tight as median home prices hover near $400,000

News

Home prices are still climbing, even as mortgage rates have eased slightly and inventory shows early signs of improvement, underscoring just how tight the U.S. housing market remains. The median sales price for all existing homes last month hovered just below $400,000, marking the 32nd consecutive month of year-over-year price…

Sales Tax vs. Use Tax: Definitions and Examples

Taxes

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…

Is Your Young Gen Z-er Ready for a ‘Fin Lit’ Final Exam?

Debt Management

Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into debt can happen to any one at any age, and for a variety of reasons. The suggestion that younger generations are “terrible with money” is certainly not…