What is Back-End Ratio? This is also known as a debt-to-income ratio. Back-End Ratio is used to determine how much of a person's salary would be used to clear his or her debt. It can also be used...
There are many reasons why a person would want to take a loan, some of which are business expansion or financing, mortgage, investing, borrowing, education funding, marriage funding, etc. A l...
A business is always at risk so many times, one of these risks is offering goods and services on credit to customers who may likely fail to pay up. It’s a personal choice for a business to write off...
Federal Housing Administration loan limit is the maximum amount of money that would be insured to the various categories of mortgage house loans the FHA operates in. These different categori...
What is the Student's Loan?A student loan is a form of financial aid made available by the United States government for the benefits of students who don't have the money to finance their education and...
In past and recent times, gold has proven to be a credible asset, especially in times of market crisis. The current Covid-19 crisis has not only led to the loss of jobs of millions of Americans but ha...
A credit union is similar to a bank, however, the only difference between a credit union and a bank is that credit unions are established solely for the benefits of their members and not for profit-ma...
What is a Balanced Budget?DefinitionA balanced budget is a financial term used to refer to a budget that does not have its expenses exceeding its revenues. It occurs when revenue is equals to or ...
When you ask a real estate investor how he or she gets into the business, the reply often boils down to these two: by engaging in the traditional method of buying and holding single-family rental or r...
What is Bank-Owned Life Insurance (BOLI)?DefinitionBank-owned life insurance is a type of life insurance that covers a bank both as the owner and beneficiary. Through the use of some cash-value p...