“3 Types of Credit”

2598 Search Results

2598 Search Results

A Guide to Gift Letters for Mortgages

A Guide to Gift Letters for Mortgages

https://www.sofi.com/learn/content/gift-letter-for-mortgage/

If you’re fortunate enough to have a family member or close friend who is giving you funds to put towards a down payment, congratulations. But in this scenario, a gift letter can be an important part of validating money given to you for the down payment or closing costs on a home. Approximately 22% of […]


How Does Mortgage Interest Work?

How Does Mortgage Interest Work?

https://www.sofi.com/learn/content/how-does-mortgage-interest-work/

Mortgage interest is, simply put, the money you pay the bank for the service of lending you the amount you need to buy your home. Interest is expressed as a percent of the loan amount. It is usually rolled right into your monthly mortgage payment of the principal and interest. This means interest can be […]


How Does Buying a House at Auction Work?

How Does Buying a House at Auction Work?

https://www.sofi.com/learn/content/how-does-buying-a-house-at-auction-work/

Buying a house at auction could be a great opportunity to scoop up a deal on a property. When homes are auctioned off, either due to foreclosure or other reasons, the highest bidder gets the property. Once the property is yours, you could move in, rent it out, or fix and flip it. How does […]


FHA-Approved Condos: Requirements, Restrictions, & Benefits

FHA-Approved Condos: Requirements, Restrictions, & Benefits

https://www.sofi.com/learn/content/fha-approved-condos/

Ready for homeownership — but looking for something a little bit less overwhelming than a whole house? A condominium might be the perfect fit. But can you purchase a condo with an FHA loan? Yes, under certain circumstances, you can use a loan from the Federal Housing Administration to buy a condo. However, the FHA […]


What Is a Graduate Fellowship? Tips for Applying

What Is a Graduate Fellowship? Tips for Applying

https://www.sofi.com/learn/content/graduate-fellowship/

The high cost of graduate school can make the dream of getting a master’s or a doctorate feel like a financial impossibility for many people. One way to help with tuition is by applying for a graduate fellowship, a merit-based award given by the university you’re attending or from an outside organization. As with other […]


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