What is AMI? AMI, or Area Median Income, is the median salary for households in a specific metropolitan area, meaning that half of the families in that region earn more than that amount, and half earn less. The U.S. Department of Housing and Urban Development (HUD) defines “low-income households” as ones that earn up to 80% of AMI
Once they’ve maxed out federal financial aid, many students turn to private student loans. They can be used for a variety of educational expenses, including tuition, housing, books and computers. Available from traditional banks, credit unions and fintechs, private student loans tend to have higher limits and a faster approval process than federal loans. If
The homebuying process can be daunting, especially if you’ve never done it before. Rates and terms are always important, but new homebuyers may need flexible down payment options, generous grants and first-rate customer service. CNBC Select has rounded up the best mortgage lenders for first-time homebuyers in a variety of categories, including military families and those with bad
Installment loans give you something even more valuable than money: Time. Borrowers receive a lump sum of cash and repay the debt in regular, scheduled installments. If you have bad credit, though, the peace of mind that comes with an installment loan may seem out of reach. CNBC Select has chosen the best installment loans
Once they’ve maxed federal financial aid, many students turn to private student loans. They can be used for a variety of educational expenses, including tuition, housing, books and computers. Available from traditional banks, credit unions and fintechs, private student loans tend to have higher limits and a faster approval process than federal loans. If you
Bad credit can be a barrier to getting approved for a car loan or for receiving favorable terms. Fortunately, even if your credit history has some blemishes, you still have options from banks, credit unions, fintechs and other institutions. CNBC Select compared more than 20 lenders to pick the ones that are best for auto
Federal student loans typically offer the lowest interest rates, but they can only finance so much of one’s education. Oftentimes, borrowers also need to take out a private student loan in addition to fill in any gaps. Private student loan interest rates vary widely depending on your credit, but if you have good credit you
Personal loans are a convenient way to borrow to cover a variety of expenses — like a wedding, a funeral, a vacation, a surprise medical bill and more. Lenders typically disburse funds directly to your bank account so you can start using that money as soon as possible, and some of them will even fund
When applying for any type of loan, the higher an applicant’s credit score, the better chances they have at qualifying for low interest rates and other favorable terms. But when it comes to paying for college, many students may have a low or no credit score because they simply haven’t been able to build credit