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How Do You Get a Land Loan?
https://www.sofi.com/learn/content/land-loan-process/
Land loans allow borrowers to purchase acreage, or a piece of land, often with the intention of building a home there or developing the plot for business. Because of the inherent risk to lenders, land loans can be challenging to obtain. The rate and required down payment are typically higher than those of traditional mortgage […]
What Is a Robo Advisor?
https://www.sofi.com/learn/investing/what-is-a-robo-advisor/
Key Points • A robo advisor is a computer algorithm that helps manage investments by selecting and recommending portfolios based on an individual’s financial goals, risk preferences, and time horizon. • Robo advisors offer cost efficiency, potential performance, and the ability to control for human error in investment decisions. • They typically charge management fees […]
Margin Trading: What It Is and How It Works
https://www.sofi.com/learn/investing/what-is-margin-trading/
In the investing ecosystem, the term “margin” is used to describe the money that may be borrowed from a brokerage to execute trades or a strategy. Buying assets on margin can help magnify gains and returns, but it can do the same with your losses. When you buy on margin, you’re purchasing assets using money […]
Financial Consulting Services 101
https://www.sofi.com/learn/investing/what-is-a-financial-consultant/
When you need help putting together a solid plan for your money, you might seek out financial consulting services. A financial consultant can offer advice and guidance on things like investing, retirement planning, and building wealth. You may also hear financial consultants referred to as financial advisors, as the terms are often used interchangeably, though […]
Guide to Estimated Tax Payments
https://www.sofi.com/learn/content/estimated-tax-payments/
If you are self-employed or receive income other than a salary or employment wages, you could be responsible for making estimated tax payments. You might think of these estimated taxes as an advance payment against your expected tax liability for a given year. The IRS requires certain people and businesses to make quarterly estimated tax […]