Latest Articles and Promotions

Costco offering First Mortgages with Low Lender Fees

Costco Wholesale logoPurchasing a home is an exciting process, but it can also be a daunting task. In addition to finding the right home to fit you and your family’s needs, sifting through various mortgage options is often a challenge. Not all mortgage lenders offer the same assistance with funding fees, ongoing customer service or help with closing costs, making it difficult to find the most appropriate fit. However, certain mortgage lenders are making the process much less of an obstacle by providing promotional perks to customers.
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Posted on July 2, 2015 by Melissa

Fifth Third Bank offering 1.99% Introductory Rate on HELOC for 6 Months

Fifth Third Bank logoFrom a family vacation or honeymoon to financing a child’s education or buying a new car, major purchases in life are inevitable. While personal loans and credit cards may be adequate to meet some of your financing needs, a Home Equity Line of Credit (HELOC) is also an option for some homeowners. Typically, a home equity line of credit is more cost effective than a personal loan or credit card, and allows for flexible repayment and continual use over time. However, every home equity line of credit has different advantages or drawbacks when compared to other financing options, and may require different qualifications to secure.
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Posted on June 29, 2015 by Melissa

How to Rebuild Credit after Bankruptcy

Blue bankruptcy signRebuilding your credit after a bankruptcy is similar to building credit in the first place. As someone who has less-than-ideal credit, you’re going to pay more to loan money than before the bankruptcy. Be prepared for high interest rates, low credit allowances, and even annual credit card fees. But it’s not the end of the world. By following a few simple tips, you can bounce back to relatively good standing in the credit world within a few years.
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Posted on June 18, 2015 by Ronda

Are You Underbanked or “Credit Invisible”?

No Cash Credit Card Only SignThe Consumer Financial Protection Bureau (CFPB) reports that 20 percent of Americans are underbanked or “credit invisible.” A little less than 50 million people do not have credit scores due to insufficient credit history. Around half of those people also do not have a credit report because they have never had a single credit event reported to a bureau. Having no credit history or credit score is a burden that disproportionately affects African Americans and those who are college-aged or low-income.
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Posted on June 15, 2015 by Ronda

Teachers CU (IN) offering Mortgage Loan with No Closing Costs

Teachers Credit Union logo - TCUBuying a home comes with a great deal of excitement, but takes a degree of financial planning to ensure it is the right fit for your current and future budget. An important factor in securing a new home is the upfront costs associated with closing on the mortgage. While some financial institutions and private lenders allow for some concessions for expenses relating to closing, some banks and credit unions extend full closing cost assistance that makes the process far less costly for homeowners.
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Posted on June 11, 2015 by Melissa

Credit Unions Struggle to Remain Compliant with 190 Regulatory Changes

Writing New Regulation This has changed on chalkboardCredit unions are more successful than ever, reportedly maintaining 100 million members in the United States alone. They’re lending and holding more money than past decades, especially after experiencing a flood of new memberships after the U.S. government bailed out several big banks in 2008. Together, credit unions hold about $1 trillion in assets.
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Posted on June 8, 2015 by Ronda

Union Bank & Trust Company offering 2.49% HELOC

Union Bank & Trust Company logoA home equity line of credit can be an ideal way to borrow money necessary to finance some of life’s bigger expenses. This credit vehicle was created so homeowner’s would have an opportunity to tap into the equity in their homes and use it as collateral to secure a relatively low rate, flexible repayment credit line with an extended term. Banks and credit unions offer home equity lines of credit as an alternative to higher interest rate personal loans or costly credit cards. In the current low interest rate market, now is a smart time for qualified homeowners to consider a home equity line of credit through a trusted bank or credit union.
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Posted on June 4, 2015 by Melissa

Effects of 2015’s FHA Mortgage Insurance Premium Reduction

Federal Housing Administration logoThe beginning of 2015 brought with it a plan to jump-start first-time home purchases. President Obama announced that the housing administration would drop the cost of Federal Housing Association (FHA)-insured loans to 0.85% from 1.35% for loans with less than 5% down payments. The same goes for loans with more than 5% down, except they will be dropped to .80%. This change only affects 30-year mortgages, leaving borrowers who have 15-year mortgages with up to .95% insurance fees high and dry.
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Posted on June 1, 2015 by Ronda

University of Hawaii FCU offering 4.5% Unsecured Personal Loan

University of Hawaii Federal Credit Union logoOver the course of a lifetime, most individuals or families will have the need to finance a major expense. Whether it be education funding for children, consolidating high interest rate credit card debt or taking the vacation of a lifetime, a personal loan can be used for most financing needs, in lieu of a credit card.
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Posted on May 28, 2015 by Melissa

NACA Announces Unprecedented Mortgage Incentive Program for Detroit Homebuyers

Two abandoned Detroit homesThe path to home ownership is often a challenge for those in regions that have experienced egregious economic turmoil since the housing market bubble burst in 2008. Adding a less than perfect credit history makes the process an even greater impediment for some families, where the need to bring a hefty down payment to the closing table is standard. In an unprecedented move, the Neighborhood Assistance Corporation of America (NACA) is bringing hope to prospective home buyers in Detroit, Michigan, through a program intended to tear down the hurdles that stand in the way of home ownership.
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Posted on May 18, 2015 by Melissa

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  • Credit Card Rates

    Card TypeAverage APR
    National Average:15.00%
    Low Interest Rate:11.62%
    Business:12.85%
    Student:13.14%
    Balance Transfer:14.12%
    Airline:15.10%
    Reward:15.14%
    Cash Back:15.27%
    Instant Approval:18.00%
    Bad Credit:22.73%
  • Mortgage Rates

    Courtesy of erate.com