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☆ The housing markets could crash in Canada, New Zealand, and Australia. They're 3 cautionary tales for the US.
▼ + stars: | 2022-09-09 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Global real estate markets have been in overdrive during the Covid-19 pandemic. The US housing market shares some of their problems, and it's a cautionary tale for us. In countries across the globe, rapid home price growth fueled by lackluster housing supply and robust investor activity have distorted local housing ecosystems — especially in Canada, New Zealand and Australia. As New Zeleand's housing crisis escalates, The Guardian reports that less and less of the nation's young buyers can afford home purchases. Economic volatility stunts buyer demand in AustraliaAustralia has not escaped the housing slowdown gripping global real estate markets.

☆ The 6 most popular European destinations for Americans to buy homes as the strong dollar boosts US wealth overseas
▼ + stars: | 2022-09-04 | by ( Alcynna Lloyd | Jason Lalljee | ) www.businessinsider.com time to read: +4 min

Six places are especially popular among American buyers, per real estate company Knight Frank. As the US dollar rises, more wealthy Americans are investing their money overseas — especially in European real estate. According to global real estate company Knight Frank, Paris, St. Tropez, Tuscany, Venice, Barcelona, Mallorca, and Sardinia, have become the most popular European real estate markets for American home buyers. The researchers also noted that real estate in Venice is more receptive to negotiation than in other parts of the country. Real estate in Spain is also proving popular among Americans, with Barcelona and Mallorca being the standouts, according to Knight Frank.

Can you pay your mortgage with a credit card? How to pay your mortgage with a credit cardIn order to pay your mortgage with your credit card, check out Plastiq, a third-party platform that offers this service. With Plastiq, you can pay your mortgage or even a home equity line of credit (HELOC) with your Mastercard or Discover credit card. Credit utilization impact: Another downside of paying a mortgage with a credit card is its potential impact on your credit utilization. Making a large mortgage payment will push you closer to your credit limit and increase credit utilization, potentially harming your credit score.

Persons: —, Crystal Cox, Cox, aren't, Plastiq, you'll, it's, Stephen Keighery, Keighery Organizations: Service, Mastercard, American Express, Wealthspire Advisors, Federal Reserve, Consumer Financial, Home Buyer

Market forces may influence the general range of mortgage rates but your specific mortgage rate will depend on your location, credit report and credit score. The higher your credit score, the more likely you are to be qualified for a lower mortgage interest rate. Types of loans offered: The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. In addition to these loans, lenders may also offer USDA loans and jumbo loans. Fees: Common fees associated with mortgage applications include origination fees, application fees, underwriting fees, processing fees and administrative fees.

Rocket Mortgage is one of the biggest mortgage lenders in the U.S. and has recently become a household name. While most mortgage lenders tend to look for a minimum credit score of 620, Rocket Mortgage accepts applicants with credit scores as low as 580. Types of loans offered: The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. Fees: Common fees associated with mortgage applications include origination fees, application fees, underwriting fees, processing fees and administrative fees.

Homebuyers can receive mortgages, down-payment assistance, and tax credits through the Kentucky Housing Corporation. Most first-time homebuyer programs are through the Kentucky Housing Corporation (KHC), although there are a few additional options. KHC Conventional Preferred Plus 80The KHC Conventional Preferred Plus 80 Program is similar to the regular Conventional Preferred Program, with two key differences. Kentucky down payment assistance programsKHC Regular Down Payment Assistance ProgramThe Regular DPA Program can be combined with either of the aforementioned KHC mortgages. Other Kentucky first-time homebuyer programsKHC Home Buyer Tax CreditThe Mortgage Credit Certificate (MCC) helps first-time homeowners save money on taxes.

Find out what your state provides for first-time homebuyers:Programs in the NortheastConnecticutThe Connecticut Housing Finance Authority gives loans for down payment assistance. Programs in the SoutheastAlabamaThe Alabama Housing Finance Association has down payment assistance programs for low-to-moderate income earners, and a tax credit program that can be combined with down payment assistance. If you're buying a home in Louisville, you might qualify for a down payment assistance loan from the local government. WashingtonThe Washington State Housing Finance Commission has several down payment assistance programs that will loan you up to $10,000. The lender is also the one who will approve and process any applications for down payment assistance, closing cost assistance, or tax credits.

Persons: you've, you'll, Massachusetts MassHousing, SONYMA, There's, Kenner, Fannie Mae, Freddie Mac, Louis County, haven't Organizations: Northeast, Connecticut Housing Finance Authority, Housing Development Fund, Housing Authority, Maine MaineHousing, New Hampshire New Hampshire Housing, New, New Hampshire Housing, New Jersey Housing, Mortgage Finance Agency, New York Mortgage Agency, Pennsylvania Housing Finance Authority, Housing Network of, Vermont Housing Finance Agency, Southeast, Alabama Housing Finance Association, Arkansas, Finance Authority, of Columbia, Washington DC, DC Housing Finance Agency, Florida Housing Finance Corporation, Georgia, Georgia Department of Community Affairs, . Kentucky, Kentucky Housing Corporation, Louisiana Housing Corporation, Maryland Department of Housing, Community Development, Baltimore City . Mississippi The Mississippi Home Corporation, North Carolina Housing Finance Agency, South Carolina Housing, South, Tennessee Housing, Agency, Virginia Virginia Housing, Virginia Department of Housing, West, West Virginia The West, West Virginia The West Virginia Housing, Fund, Midwest Illinois, Federal Home Loan Bank of Chicago, Illinois Housing, Authority, Indiana, Indiana Housing, Community Development Authority, Iowa Finance Authority, Kansas Kansas Housing, Housing Development Authority, Minnesota Housing Finance Agency, Missouri Housing Development Commission, Community Action Agency of St, Nebraska Investment Finance Authority, North Dakota Housing Finance Agency, Ohio Housing Finance Agency, South Dakota Housing Development Authority, Wisconsin Housing, Economic Development Authority, Southwest Arizona The, Southwest Arizona The Arizona Industrial Development Authority, New Mexico Mortgage Finance Authority, Oklahoma, Oklahoma Housing Finance Agency, Texas The, Affordable Housing Corporation, Texas Department of Housing, Community Affairs, Alaska Housing Finance Corporation, Financial Agency, Southern, Southern California Home, Colorado Housing, Finance, Aurora, Hawaii Housing Finance, Development Corporation . Idaho, Idaho Housing, Finance Association, Montana Montana Housing, Nevada Housing Division, Oregon, Oregon Oregon Housing, Community Services, Utah Housing Corporation . Washington, Washington State Housing Finance Commission, Wyoming Community Development Authority, FHA Locations: Northeast Connecticut, Connecticut, Delaware, Maine, Massachusetts, New Hampshire New Hampshire, New Hampshire, New Jersey, Trenton, New York The State, Pennsylvania, Centre County, Rhode, Housing Network of Rhode Island, Vermont, Southeast Alabama, Arkansas, Washington, Florida, Georgia, Gwinnett County, Kentucky, Louisville, Louisiana, New Orleans, Maryland, Baltimore, Baltimore City . Mississippi, North Carolina, Carolina, South Carolina, Lexington, Tennessee, Virginia Virginia, West Virginia, West Virginia The West Virginia, Illinois, Indianapolis, Iowa, Kansas Kansas, Kansas, Michigan, Minnesota, Missouri, Louis, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin, Southwest Arizona The Arizona, Mexico, Oklahoma City, Texas, Texas The Texas, West Alaska, Alaska, California, Southern California, Los Angeles County, Orange County . Colorado, Colorado, Aurora, Hawaii, Idaho, Montana Montana, Nevada, Oregon Oregon, Utah, Wyoming

I work as a financial coach, and since the pandemic began I've been getting a lot of similar questions. AdvertisementAs a financial coach who speaks and teaches courses on financial literacy, I get a lot of similar questions about money. Below I've compiled some of the most common questions I've been hearing lately and the advice I've been giving. I recommend having at least six months of savings in an emergency fund, and then beyond that is personal preference. AdvertisementI don't recommend investing money you will need in three to five years in the event we have another major economic downturn and it takes a few years to rebound.

Persons: I've, they've, They've, —, Roth, you've Organizations: Service, IRA, Fidelity

A credit score below 669 is considered a "bad" credit score with both the FICO and VantageScore scoring models. Payment history, credit utilization, and hard credit inquiries are a few of the factors that can impact your credit score. FICO scoring rangesClint ProctorVantageScore scoring rangesClint ProctorWhat's the difference between having a bad credit score and no credit score? Having no credit score is, in many ways, better than having a bad credit score because you're starting from a clean slate. The first step towards fixing a bad credit score is to check your credit report to see what's holding your score back.

Although mortgage rates are volatile amid coronavirus concerns, rates are relatively low right now and are expected to stay low through at least the end of 2020. If you're buying your "forever home," you might consider choosing a fixed-rate mortgage to lock in a low rate. However, home loan rates aren't staying low like rates for other types of loans are. Mortgage rates are affected by factors other than the federal funds rate, such as consumer demand and the 10-year Treasury yield. "I recommend a fixed rate mortgage because it provides stability in your monthly payments," says de Jong.

Persons: —, Andy Taylor, Taylor, Beatrice de Jong, you've, de Jong Organizations: Service, Federal

Nearly 80% of American parents financially support their adult children, according to a 2018 Merrill Lynch survey. A 2018 Merrill Lynch survey revealed that 79% of US parents provide financial support to their adult children, contributing to $500 billion spent annually. According to the Merrill Lynch survey, parents today are largely helping out with food and groceries, cell phone bills, and car expenses. Many parents surveyed would make various financial sacrifices for their adult children. When it comes to homebuying, 26% of parents told Merrill Lynch they would help their child with a down payment.

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