Let The Feds Lower Your Down Payment
Want to buy a home, but don’t have much cash?
Two government programs can ensure you make the smallest possible down payment.
You can still get 100% financing if you can qualify for a VA loan. And you’ll only have to pay 3.5% of the purchase price with an FHA loan.
These are mortgages where the government promises to repay the bank if you default. With guarantees like that, banks are able to take on borrowers they might have rejected on charged a much higher interest rate.
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Miss a payment, lose your points
Not paying your credit card bill on time can cost more than a late fee.
You could also lose all of the reward points or miles you earned that month — and every month until you catch up.
Most cards also forbid customers from redeeming any of the points or miles they’ve previously earned until they’re current with their payments.
Capital One seems to have the most stringent policy. Citi the most lenient. MORE.
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