Stephanie Colestock

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A home equity loan is a type of installment loan that lets you access the value in your home. Also known as a fixed-rate second mortgage, it essentially enables you to turn a portion of the value of the stake you own in your property into cash. The funds are paid out in a single l...

A large portion of college students take out their own loans, turning to federal student loans and private loans, personal loans or even using credit cards to help pay for college. However, there are also many parents who want to pitch in – either to help their kids cover high educational expenses or because those young adults are unable to qualify for enough funding on their own.
About 18% of parents borrowed money last year on their children’s behalf to help pay for college, according to a ...

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A home can be one of the biggest single purchases you’ll ever make in your lifetime, so it’s important to be sure that everything goes right. No matter how much research and diligence you put into the process, something may come up after you’ve already put in an offer on a house. If that happens, you might find y...

“If you would be wealthy, think of saving, as well as of getting,” wrote Benjamin Franklin in his 1758 essay “The Way to Wealth.”
If only it were that easy.
Not only d...

While it may be just three digits long, your credit score is one of the most important numbers in your day-to-day life.
This number—which is calculated by things like your payment history, how long you’ve had credit, and what sort of accounts you manage—can dictate which financial products are available to you, how much you’ll pay in interest when borrowing money, and can even influence the premiums on your auto insurance policy.
Establishing and growing your credit score requires both dedica...

Saving enough to provide 70% and 80% of your pre-retirement income annually is a general rule of thumb. Marko Geber/Getty
Table of Contents
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How much do I need to save for retirement?
1. Calculate what your savings will cover when you're retired
2. Break down how much you should be saving each year
3. Consider other sources of income while retired
4. Know the general rules of thumb ...

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In the United States, approximately 2.1 million vehicles collided with animals between July 2020 and June 2021, according to a yearly analysis from State Farm. Of those accidents, the majority — about 1.4 ...

Refinancing a mortgage involves taking out a new mortgage loan to replace an existing one, usually at a lower interest rate. Homeowners will then repay that new loan according to their new repayment terms.
Mortgage refinance loans can be very beneficial for borrowers. These loans allow homeowners to reduce the interest charged on ...

Though discussion of student loan forgiveness continues to circulate in Washington, DC, it's a politically divisive issue -- and far from a sure thing. And, although emergency federal student loans forbearance offered a period of relief for many, this pandemic-related relief measure is set to expire on January 31, 2022, which means loans will come due again in early 2022.
The majority of college graduates today are no strangers to student loan debt; there are more than 43 million student borr...

Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more.
If you're mulling over the possibility of buying a house, you might consider an FHA loan. These mortgages are backed by the Federal Housing Association (FHA) and are popular for their low credit and minimum down payment requirements.\ \ As the program is backed by the FHA, you'll ...

The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID first emerged, even surpassing pre-pandemic levels. Today, more than 365,000 Fidelity investors boast seven-figure 401(k) balances, along with more than 307,600 IRA millionaires. A well-funded retirement account can afford you the financial security you need after your career ends. ...

While you may be familiar with standard dwelling insurance for your property, another type of coverage you might need is windstorm insurance. As the name implies, this insurance coverage can help protect you financially if extreme winds or wind-related storms damage your home.
Depending on where you live and your home’s needs, separate windstorm insurance could be worth adding to your existing coverage. Here’s a look at what windstorm coverage is, what it offers, and how this insurance can pr...

Applying for a new home loan can be an intimidating process, especially if you have a less-than-ideal credit score. If you’re trying to buy a home without a credit score at all, though, you may find the process to be even more challenging.
While there are certain loan programs and lenders with minimum credit score requirements, there are ways for how to get out a mortgage with no credit score. Here’s a look at what to expect from the process and the options you’ll have.
How to get a mortgage ...

The vast majority of student loan debt in America is federal debt, meaning government loans that are issued directly by the U.S. Department of Education. In fact, more than 93% of all student loans fall into the federal category, leaving just a small portion of private educational debt.
There are a few reasons for this trend, including accessibility, costs and benefits. For many borrowers, federal student loans are easier to obtain, come with better protections and forgiveness options, and ev...