Savings Corner

DECEMBER 25, 2023

Many people use the cash from a cash-out refinance to fund large-scale home improvements, education expenses or debt consolidation. Most lenders will require you to maintain at least 20% equity in your home. Pros of a cash-out refinance Potentially lower interest rate. Potentially higher interest rate.

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Savings Corner

DECEMBER 24, 2023

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. Here are some of the most common applications.

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Savings Corner

APRIL 4, 2024

You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. Cash-out refinances are generally best for big-ticket costs: Think home renovations or major debt consolidation. That means you have $300,000 in equity.

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Family Balance Sheet

OCTOBER 15, 2021

My oldest was in eighth grade and one of my goals for 2020 was to start saving consistently for both daughters’ college education. We want to assist them in financing their college years and we needed to make some progress. It averages out to about $72 a month. 108 Months X $72 = $7,776! What is Upromise?

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Savings Corner

APRIL 4, 2024

Key takeaways A home equity loan allows you to borrow a lump sum against your home’s equity, usually at a fixed interest rate that’s lower than other forms of consumer debt. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. What is a home equity loan?

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Savings Corner

APRIL 4, 2024

To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. Our goal is to give you the best advice to help you make smart personal finance decisions.

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