Money Matters
Your Credit Union Newsletter
Last month, we hosted a webinar, “Pathway to Homeownership,” which provided information designed to help you purchase your first home. Learn more.
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The national average sales price of a home in the U.S. is $503,800 as of this writing, according to the U.S. Department of Housing and Urban Development.* In this example, you’d need to put down $100,760 (20%) to avoid having to pay private mortgage insurance (PMI). Read more.
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Using the equity in your home to pay off unsecured debt or make home improvements can be a difficult financial decision. Low annual percentage rates, tax-deductible interest, and streamlining your monthly payment make second mortgages extremely attractive. However, using your home for collateral is a decision that should be weighed carefully. This blog will cover home equity loans vs. HELOCs and provide information that can help you decide which is right for you. Read more.
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There are many reasons you may need to borrow money. From tackling big home improvement projects to buying a vehicle to fixing a temporary cash-flow challenge. Reducing the cost of borrowing money is crucial to helping your manage your personal finances. By implementing these ideas, you can lower the cost of a loan by lowering the amount you pay in interest and associated fees.
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If you rely on gas to heat your home or business, the expense can be significant. In winter, you’re heating the premises, and in summer cooling them off, not to mention year-round need for hot water. But there are some ways to reduce your costs. Here are nine ideas to help you save money on your future gas bills.
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Winter is here. And with it, shorter days, colder temperatures, and increased electricity usage and pricing. Electricity costs can quickly add up and become a significant expense for many households, especially when energy demand is high.
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You don’t move to a new home every day! But it sure happens from time to time. The U.S. Census Bureau estimates over 27 million people moved in 2022.
When it does happen, it’s usually stressful, even when things go smoothly. The list seems endless, from packing to finding movers, obtaining new insurance, and changing your address. The last thing anyone needs when moving is to find out that their new home won’t be available as planned, on time, regardless of the reason. Here, with some insight from our partners at Balance, are some things to consider if you end up having to wait.
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Buying a home in an area of natural beauty can be a gift but also carry a sting in the tail if the area is prone to natural disaster. Despite the risks, picture-perfect locations are a perennial draw and people continue to move into risky areas.
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Buying a home in an area of natural beauty can be idyllic. But also risky. Locations at higher risk of natural disaster can make insurance difficult and costly to obtain. And increasingly so, because natural disasters are increasingly common and severe. Tornadoes, hurricanes, wildfires, and floods are all expected to rise in frequency, intensity, and duration in the coming years. Those impacted and without loss of use coverage or inadequate coverage may find themselves seeking temporary housing from local disaster relief charities or the Federal Emergency Management Agency (FEMA).
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means new found independence from parents!). Moving into your own space for the first time, or to a new apartment, can be exciting but can also be nerve-racking because of all uncertainty and variables. Unfortunately, in many cases, listings are aimed at nothing more than separating apartment hunters from their money.
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