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?
The best thing you can do as a first-time home buyer
is to take things one step at a time. The first step to buying your first house is obtaining a mortgage. Several factors go into choosing the right one, which you will walk through in this article. Learning the types of loans available to you will help you make an informed decision about your finances now and well into the future.
Posted in: buyer, FHA, first-time, home, loan, mortgage, VA
You probably already know that one of the best ways to grow your money for the future is to invest it. The first place to start is with your employer’s 401(k) which allows you to contribute on a regular basis, and not worry about what the market is doing on a daily basis. Many 401(k) plans offer a company matching percentage, which is supplemented money. For example: your employer offers a 3% match, make sure that you’re contributing at least 3% of your income to receive the full match.
If the idea of where to invest your hard-earned money is intimidating, there are usually mutual fund choices in an employer plan that provide an easy start point. One type of diversified mutual fund will normally have a targeted year of retirement in the name, and this allows the mutual fund to manage your money for you. What other investment decisions are important to consider? Let’s explore how to start investing in a way that’s diversified with reasonable risk for your goals.
Posted in: brokerage, firm, fund, index, investing, market, plan, retirement, savings, stock
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.
Posted in: auto, loan, refinance
Running a small business is an intense, but rewarding undertaking. Most owners and operators start their business out of passion. Some smart financial moves and optimized cash management can support that passion and help your business grow. The right bank can offer you solutions you may not have known about. One key example is a sweep account. In the following article, we’ll answer basic questions like “What is a sweep account?” “What are the benefits?” and “What are the drawbacks?” By the end, you should have a clearer understanding of how this type of account can benefit your small business.
Posted in: account, brokerage, business, cash, earn, interest, management, small, sweep
So you’re leaving your job to pursue new opportunities — congratulations! If you’ve been contributing to a 401(k) in your previous job, you want to make sure you’re safeguarding and optimizing that investment. Generally speaking, when you leave a job, but you’re not retiring, you have four options to address your 401(k) plan: