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Learn What It Takes to Qualify for an Investment Property Loan

CreditStrong for Business

Credit Score and Credit History With any type of financing, investment property loans included, good credit can work to your advantage. When you have a good credit score, it makes it easier to qualify for loans and get competitive offers from multiple lenders.

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Set Your Money on Autopilot: How to Save with Financial Automation

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Also, you’ll always be in good standing with your bills, protecting your credit score and preventing late fees. An IRA (individual retirement account) can be opened at a brokerage firm if you aren’t eligible for an employer plan. If your credit card information is stolen, you don’t have to worry.

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Mortgage Refinancing: How Does It Work?

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However, lenders may only offer this to homeowners who have defaulted on mortgage payments and are facing foreclosure. Eligible borrowers must prove they’re facing financial hardship and are at risk of defaulting on a mortgage. But be careful about multiple credit inquiries, affecting your credit score.

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26 Ways to Simplify Your Financial Life – While Saving Astronomical Amounts of Money

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In addition to increasing account balances, late fees can negatively affect consumers’ credit scores as well. Credit cards are one of the best ways to earn rewards and take advantage of zero-interest rate promotions. Focus on one credit card for credit scoring purposes, but keep them open for other purposes.

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Where to Find an SBA Loan Consultant (Plus Other Less Expensive Options)

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The agency partially backs these loans with federal money, guaranteeing that they’ll cover a portion of defaulted loans. Loan broker fees : Applying for an SBA loan through a loan brokerage firm will incur a fee based on the size of the loan, in addition to flat fees, like processing fees. Where to Find Your SBA Loan Consultant.