Home Equity

It’s finally house hunting season and you could not be more excited to get the ball rolling on your big purchase! Before you hit the road or the search bar, take these 7 tips into consideration. 1. Know Your Limits Before signing the papers or falling in love with the first home you see be realistic about what is in your budget. We recommend spending no more than 25 percent of your monthly income on the mortgage. When you know what this number is, be sure to stick with homes in that price

Buying a home may be a common practice for the average American, but it is not a simple one. This is especially true if you are new to the game and have yet to learn the ins and outs of the process. No need to worry, we have plenty of experience from our years in the home buying business and are willing to share the best-kept secrets on the market! 1. Start Today If buying a new home seems far into your future, that means you are in the perfect position to prepare. Often, many have dreams of

You’ve made the decision that you are tired of renting and ready to step into the world of home ownership. Good for you! You may be wondering what your next steps should be in order to be financially prepared for this major investment. Here are some creative ways to ramp up your savings for this exciting adventure! 1. Consider a Move Now Is the place you’re living now truly the most cost effective for your budget? Consider moving to a temporary location that can significantly trim

Congratulations on purchasing your home. You are now privileged to enjoy the thrills of home repair, maintenance, and occasional renovation. Depending on your mortgage structure, you may be paying off your home for up to thirty years. Luckily Iowa State Bank has some tips and tricks to help you reduce your repayment time. Using these three strategies, we’ll show you how to pay off more of your principal to decrease the term of your loan, and lessen your overall interest costs.   Method

Just like purchasing your home, selling it is a journey all its own. Whether you’re aiming to sell your home in one year or five, you can make a number of small changes that offer a big return on your home’s value. Try these key improvements and see the effect on your next home assessment. An eye-catching entrance. As the gateway into your home, your front door will set the tone for what’s within. Update your door bell, paint the front door, and hang a spring wreath

To recap last week’s blog in a nutshell: home equity loans provide one-time lump sums that are satisfied with a fixed interest rate over a set amount of time. Got that? Welcome to part two of our lesson on equity finance: Home Equity Lines of Credit (HELOC). Home equity is to mortgages as HELOCS are to credit cards. Rather than paying back the loan in equal payments each month, you withdraw money on an as-needed basis. Though different in function, both types of equity loans carry serious

The recession of ’08 knocked the housing market flat on its face. Thankfully, the past few years have showed a steady comeback with home prices rebounding every day. With housing secured, the option for accessing home equity loans for extra cash seems more and more viable. But just because you can, does this mean you should? If you’re looking to nip credit card debt with high interest in the bud by paying it off in full, or if you’ve got your eye on a home improvement project