Check the definitions of the different financial terms

When you are going to hire a banking product, from a personal loan to a credit card, there are many technical terms that you often do not understand and that we recommend you understand to know exactly what you are acquiring. For this, in this section you will be able to consult the definitions of these expressions with a language that is easy to understand.

How to request a loan deferment?

For most people, taking out loans for large purchases such as a home, car or college becomes a normal part of life. The monthly payments on these loans are integrated into our budget and financial routine. But what happens when something unexpected happens, such as losing a job or having high medica..

11/27/2023 Read more

What is the PITI in a mortgage loan?

If you are looking for a mortgage or calculating your monthly payments if you are going to take out a mortgage you may have come across the word PITI. The PITI refers to the monthly mortgage payment including Principal, Interest, Taxes and Insurance. The monthly mortgage payment includes all of thes..

9/21/2023 Read more

What are 401(k) loans and what are they used for?

Workers who have a 401(k) retirement plan in the United States have the possibility of applying for financing under preferential conditions, thanks to 401(k) loans. Here we tell you what they consist of, their characteristics and their advantages when applying for them. What are 401(k) loans? Esse..

6/19/2023 Read more

What is the SEC and what is its function?

The U.S. financial environment is one of the most dynamic and complex in the world. In the midst of its activity is the Securities and Exchange Commission (SEC), whose main task is to create fair conditions for investors. If you want to know a little more about its functions, don't miss the foll..

6/13/2023 Read more

What are HELOCs (home equity lines of credit)?

A home is an important asset that can be used to obtain financing on more favorable terms. For this purpose, in the United States there are home equity lines of credit or HELOCs. In this article we tell you what they consist of, their requirements and how to contract them. What is a HELOC or home e..

6/9/2023 Read more

What is the California Housing Finance Agency (CalHFA)?

There are many independent institutions that can help you buy a home or get a rental at reduced rates. In this category is the California Housing Finance Agency, which we review below. What is CalHFA? The California Housing Finance Agency is an institution that offers financial services related to ..

6/7/2023 Read more

What is the EIN or FEIN number and how to apply for it?

When you intend to register a company in the United States of America, you will need to know what the ein or fein number is and what it is for. In this small guide we tell you what it is, how to apply for it and when you will need it. What is the EIN or FEIN number? The EIN stands for Employer Iden..

6/5/2023 Read more

What is a hard inquiry and how does it affect your credit score?

The accurate monitoring of your credit history in the United States can be the difference between a quality of life with more choices. Often, a hard inquiry can take you from a very favorable rating to one with fewer benefits. That's why you should know what it is, how it works and some of its s..

5/31/2023 Read more

What is a corporation in the United States?

In the United States there are several types of organizations, businesses and corporations, and it is important to know their characteristics. Today we will talk a little about what a corporation is and its basic aspects. What is a corporation in the USA? Within the legal context of the United Stat..

5/19/2023 Read more

How to consolidate debts to pay less?

You've heard it before, but you're not clear on how to consolidate debts. Here we are to clear up some of your doubts and give you our best guidance to face this process, which can allow you to save a lot of money and pay off your loans and credit cards faster and more comfortably. What is ..

5/19/2023 Read more

What is a good credit score for loans and insurance?

Having a good credit score can help you get approved for various financial products and get better terms. However, saying what is a good score is not so simple because it depends on who reviews your information and the particular application you make. When you want to get approved for a loan or othe..

5/18/2023 Read more

What is the SOFR rate and how is it calculated?

Lately, a new concept for naming mortgage interest rates has become very fashionable among homebuyers. This is the SOFR or Secured Overnight Financing Rate. This is a very important indicator for financial institutions in the United States and the rest of the world, and here we are going to explain ..

5/11/2023 Read more

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