In 2020, Americans spent much more time than usual working, eating and entertaining themselves inside their homes. That’s due in no small part to the COVID-19 pandemic. One study by the U.S. Bureau of Labor Statistics found Americans spent 10 waking hours
a day at home in 2020; in 2019 it was less than eight hours a day. That meant Americans also had more time to scrutinize their spaces — which has led to a serious home improvement boom. Spending for nearly every kind of home improvement and renovation project, from painting and other minor facelifts to a complete home renovation, grew nearly 3% to $420 billion in 2020, and it’s expected to grow another 4% by the end of 2021.
Being a first-time home buyer is equal parts exciting and stressful. The idea of finding the home of your dreams to start the next chapter of your life is thrilling, but the thought of making such a major financial commitment is nerve-wracking. And once you start the process, your head can go spinning. What are FHA loans? How do I obtain a mortgage? What other types of mortgages are available? What are closing costs?
If you find yourself asking, “Should I refinance my auto loan?” it probably means you’re unhappy with your current monthly payment. If you’re ready for a change, now is a good time to look into auto loan refinancing.
Refinancing an auto loan is often a great way to save money on your monthly payments, but it’s not the best option for everyone. Doing your due diligence is important to make the best decision for your unique financial situation.
Wedding costs can vary depending on the location and the type of the wedding you plan, and more and more, couples are paying for a significant portion of their wedding, if not the whole event. Even if you try to be frugal, a wedding is often a big expense. The right banking partner can help you come up with ideas for how to save for a wedding.
Building a new house can be an exciting time. You’re preparing to customize your home to suit your needs exactly — maybe you’ve even been dreaming about this house for a long time. To help prepare you for financing a new build, we’ve outlined some key points of home construction loans, so you can move forward with more confidence.
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