Topic: Financial-Literacy
Is it the Right Time to Refinance Your Mortgage?
Published: 02/09/2022
The time might be right to refinance your mortgage. Mortgage rates are still right around three percent, and that?s low enough to save many people lots of cash. In one recent report, there were 11 million American homeowners who could lower their mortgage by .75 percentage or more. The same study found that of those eligible for lowering their mortgage rate, the average savings worked out to about $279 per month. Here?s everything to consider about refinancing.
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Should You Borrow Against Your Home Equity?
Published: 02/09/2022
Amassing equity by paying down the mortgage on your property is a good thing. Equity refers to the amount of your home that you own. If your home is valued at $200,000 and you owe $100,000 on your mortgage, that means you have $100,000 in equity. One of the benefits of equity is that you can borrow against it. The question is, should you?
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What is Covered in Homeowners Insurance?
Published: 02/09/2022
Is your home protected against extreme weather? A recent report from Realtor.com found that just 56 percent of homeowners knew what to look for in their insurance policy. Check out this article to brush up on what homeowners insurance covers.
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Auto Buying 101
Published: 09/01/2021
For many people, buying a car is one of the first big purchases they make. If you haven?t bought a car before, the process can be quite overwhelming. We asked our Consumer Loan Officer and Watertown Branch Manager, Eric, to walk us through the basics of auto buying.
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How to Prevent Check Fraud and Avoid Check Scams
Published: 08/04/2021
At face value, writing and cashing checks is harmless; it?s been a standard practice in personal finance for decades. However, the longer these practices have been around, the more creative fraudsters have become.
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What the Self-Employed Need to Know Before Applying for a Mortgage
Published: 07/30/2021
While self-employed borrowers fill out the same mortgage loan application as everyone else, you may have to jump through a few extra hoops. Keep reading to learn more about what documentation to provide, some tips on how to become a more attractive candidate and more!
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