When Should Your Teen Open A Checking Account?

If your teen is itching for more independence, you may wonder whether a checking account is a good way to teach budgeting and money-management skills while taking a task off your already-full plate. However, while some teens are more than ready to take their finances into their own hands, for others, a checking account could lead to overdraft fees or other unanticipated costs. Read on to learn more about some of the laws and regulations governing teens with checking accounts, as well as the factors you'll want to consider when deciding whether now is the best time for your teen to open a checking account.

FHA Loans Make It Easier For Recent College Grads To Qualify For A Mortgage

FHA loans, which are insured by the federal government, offer recent college graduates a viable option for buying their first home. The low interest rates and more flexible lending standards help make home ownership a reality for first-time home buyers who are just starting out. That's because there are a number of benefits FHA loan programs offer that can help you qualify for a mortgage loan. Limited Credit History If you're a recent college graduate and a first-time home buyer with a limited credit history, FHA allows you to use credit references that don't report to the credit bureaus.