Personal Finance

Towards a Healthier Financial Future

Topic: "Mortgages"

← Curating the web to find the most interesting and helpful information about your money.

Word of the week

Co-Borrower

When two people apply for a loan or credit line together, they are known as co-borrowers. The money associated with the loan are equally accessible to the co-borrower. Payment obligations fall on both the principal borrower and the co-borrower. A common example of this is a married couple that applies for a mortgage or auto loan together.

What Is a Co-Borrower? Role in Loan Documents and Vs. Co-Signer →

Infographic of the week

What You Need to Earn to Own a Home in 50 American Cities

Between skyrocketing prices, stagnating wages, and now rising interest rates, the deck seems to be increasingly stacked against home ownership. Using May 2023 data tabulated by Home Sweet Home, the Visual Capitalist maps out the annual salary needed to afford a 30-year mortgage (at 6.37%) to buy a home in America’s 50 most populous metropolitan areas.

What You Need to Earn to Own a Home in 50 American Cities The Least and Most Affordable American Cities to Own a Home →

Word of the week

Collateral

Capital or asset pledged to a bank or other lender in the event that the borrower is unable to make all of the repayment instalments on a loan.

Collateral Definition, Types, & Examples →

Infographic of the week

Which Cities Have Bubble Risk in Their Property Markets?

Despite higher mortgages and sharply correcting prices, some cities’ property markets are still in bubble-risk territory.

Which Cities Have Bubble Risk in Their Property Markets? The UBS Global Real Estate Bubble Index →

Word of the week

Amortization

The amortization period is the length of time it takes to pay off a mortgage in full. The amortization is an estimate based on the interest rate for your current term.

Learn more on how your amortization period affects your costs →

Saving

Rising interest rates brought pain for new homeowners - and opportunity for house hunters

Saving Podcast: Stress Test by columnist Rob Carrick and editor Roma Luciw →

← Curating the web to find the most interesting and helpful information about your money.