kate_sept2004/Getty Images: Illustration by Issiah Davis/Bankrate FHA loans are government-backed mortgage loans with more lenient buyer requirements than conventional loans, providing a viable option for first-time homebuyers or those with lower credit scores. These loans…

Key takeaways Home equity loans and HELOCs (home equity lines of credit) both allow you to borrow against your ownership stake in your home, using the property as collateral. Home equity loans’ fixed rates are a good fit for people who want payment stability and know how much they need…

What Financial Steps Should New College Graduates Take After Graduation? It’s graduation season! As you put down your bookbags and pick up your briefcases, entering your new career fields, it’s time to get serious about your finances. But where do you start? How can a family help if they want…

Key takeaways When you owe more on your mortgage than your house is worth, your mortgage is “underwater,” or in a state of negative equity. Being underwater on your mortgage can make it more difficult to sell the home or refinance. If you have an underwater mortgage, your options include…

Skyhobo/ Getty Images; Illustration by Austin Courregé/Bankrate If you’re in the market for a home, affordability is likely top of mind — perhaps now more than ever. The record-high home prices of recent years, plus mortgage rates not seen since the 00s, have led to record-high monthly mortgage payments, according…