A debt service coverage ratio (DSCR) loan is one of several types of non-qualified mortgage loans (non-QM loans), which allow real estate investors to obtain a loan without having to prove their personal income. Instead, qualification for a DSCR loan is based on the rental income from an investment property. This can be an easier way for investors to get a mortgage, although DSCR loan requirements may include the need for a good credit score and a bigger down payment than conventional loans.

Those who are required to get an Individual Taxpayer Identification Number (ITIN) will need to fill out, “Application for IRS Individual Taxpayer Identification Number.” You can then mail it to the IRS at the address shown in the instructions, submit it to a walk-in IRS office, or bring it to an authorized acceptance agent for processing. In most cases, you will also have to submit a U.S. federal tax return with Form W-7.

An asset utilization loan is an alternative to a traditional mortgage loan that allows borrowers to use their personal liquid assets instead of, or in addition to, regular income to qualify for a mortgage. An asset utilization loan may also be referred to as an asset dissipation loan, an asset depletion loan, or an asset-based mortgage. Asset utilization loans are typically for high-net-worth borrowers with non-traditional income sources.

In a leaseback on a house, also known as a sale-leaseback transaction, a seller sells their house but stays on as a tenant. In exchange, the seller makes lease payments to the new owner for an agreed-upon leaseback period. There are pros and cons to this arrangement (whether short-term or long-term), so both buyers and sellers should be clear about their expectations going in.

A leaseback agreement, also known as a sale-leaseback agreement, is a transaction in which an individual or company sells an asset and then leases back the right to continue to use the asset. In a sale-leaseback transaction, the seller then becomes the lessee and the buyer becomes the lessor. Sale and leaseback agreements can occur in both residential and commercial transactions.

The best time to buy a new car is usually near the end of the calendar year, particularly in December when car dealerships and salespeople are trying to reach sales goals and quotas for the year. But if you don’t want to (or can’t) wait to buy a car, there are other times when you can score better car-buying deals simply by being strategic about when you go car shopping.

If you’ve done any trading in cryptocurrency exchanges, you may have earned capital gains, which is considered a taxable event and must be reported to the IRS. If you’ve suffered capital losses instead, you still want to report crypto losses to the IRS so as to lower your tax liability. To get started, begin with IRS tax Form 8949, which is used to report sales and exchanges of capital assets, which includes cryptocurrencies.

It’s common for your credit scores to differ from one credit bureau to the next. However, as long as they are from one of the three major credit bureaus — TransUnion, Equifax, or Experian — you can assume they are of equal importance. Scores that naturally vary from the different credit bureaus can often be attributed to the way credit reporting agencies calculate credit scores or the information that’s reported to them.

A payday loan can appear to be a quick and easy way to borrow money to solve an immediate financial need or an emergency. The problem is many borrowers wind up in a payday loan debt cycle where they end up paying much more than the original loan. But there are many options for consumers to get out of the payday loan debt trap, such as a payday alternative loan (PAL), personal loan, 0% credit card, or debt consolidation loan.

Hard inquiries to your credit report happen when you apply for a credit card, a mortgage or car loan, or some other form of credit, and they typically stay on your credit report for up to two years. However, the effect on your credit score may only last a few months, depending on the rest of your credit history. Multiple hard credit inquiries within a short period of time can affect your credit score more drastically.