Can I refinance my home equity loan? Many homeowners wonder if refinancing an existing home equity loan or line of credit is a good idea. Let’s look at why you might want to refinance your existing loan and how to go about doing it. Double Dip: Can I Refinance My Home Equity Loan? Your home is your most valuable investment and many property owners leverage that value with a home loan or line of credit. Changes in the property market and your personal financial situation might have you wondering if it is possible—and smart—to refinance your existing loan. Why Refinance? While there’s theoretically no limit to the number of times… read more »

Paying off your mortgage early comes with a variety of benefits like eliminating debt, saving money on interest payments, and increasing your cash flow! Your mortgage payment is likely to be your highest monthly payment amount.  Keep reading below where we cover some tips and strategies for early payoff. Take these into consideration to help you achieve your goal of paying off your mortgage early. Benefits of Paying Off Your Mortgage Early The sooner that you pay off your mortgage, the less interest you’ll have to pay on the loan. This can save you thousands of dollars over the course of your loan regardless of your chosen term!  Using your… read more »

The Fed’s aggressive rate hike at the beginning of May has reshaped the real estate landscape. Let’s take a look at what higher mortgage rates mean for homebuyers. Silver Linings: Higher Mortgage Rates Might Not Be All Bad Everyone knew it was coming and now it’s here: the Federal Reserve’s rate hike in May was the sharpest in 22 years. At first glance, the move is bad news for would-be homebuyers, signaling an end to rock-bottom mortgage rates, but there are some glimmers of hope for those struggling to get into the nation’s overheated housing market. More Expensive Money Mortgage rates have been rising since the start of the year… read more »

Housing is in high demand in central Pennsylvania as young families and retirees flock to the area’s spacious suburbs and livable cities. Read on for some handy home buying strategies to help you snag your slice of the action.   The Location You Want, The Home Buying Strategies You Need   Hoping to buy a house in Lancaster County or Harrisburg? You better look sharp. Housing in the area continues to be in high demand as more and more city folk look for greener pastures in the wake of the pandemic. Going Upcountry Areas around Harrisburg and throughout Lancaster County have been drawing increasing numbers of retirees and young families, attracted by… read more »

Credit cards are everywhere! In fact, the average American has four credit cards and that number is only going up. Credit cards are versatile financial tools that come with many benefits. But there are also some disadvantages of which you should be aware. Keep reading to learn more. 7 Advantages of Credit Cards Whether it’s one of the major credit cards or a retail card specific to one store or brand, credit cards make it easy to purchase items you need, and those you want. The following seven advantages of credit cards make it hard to ignore their usefulness. 1. They’re Convenient Cash is anything but convenient. For starters, you’ve… read more »

Buying a home is an exciting experience! And, it doesn’t have to be overwhelming when you understand the steps. Whether or not you’ve been through the process, if you’re considering buying a home, now is the time to brush up on what to know about mortgages before applying. Here, we’ll walk you through how mortgage payments work, the application process, and what mortgage options you have once you’ve made the purchase. How Mortgage Interest Works When it comes time to purchase a home, you’ll hear a lot about rates. Think of an interest rate as the price you pay for using someone else’s money. More specifically, your mortgage rate is… read more »

As you work to build up your credit score, you may be wondering if you have enough credit cards or perhaps too many. While the number of credit cards is important, what’s essential is understanding credit utilization. In other words, how much of your available credit is in use. You have to use credit to have a strong credit score, but overusing it could hurt you, too. Confused? Here’s a closer look at how to determine how many credit cards you should have. What Is Credit Utilization? Often expressed as a ratio, credit utilization is the amount of revolving credit you’re using right now compared to the amount of credit… read more »

Buying a home may be one of the most expensive purchases you’ll make so it’s important to consider your budget carefully before setting out on the search for your dream home. And this starts with one question: “How much mortgage can I afford?” When answering this question, you need to set realistic expectations by considering your finances, borrowing options, and the total costs of buying. Read on below as we further discuss the best tips for determining how much mortgage you can afford. Know Your Credit History When you apply for a mortgage, your credit reports from the three main bureaus — Equifax, Experian, and TransUnion — will be obtained… read more »

Since credit card fraud can be a costly and inconvenient mishap, the best thing consumers can do is take steps to prevent it from happening in the first place. When you know the right strategies for fraud prevention, your financial data will remain safe and secure. Thankfully, there are several steps you can take to prevent credit card fraud.  What Is Credit Card Fraud? Credit card fraud involves the fraudulent use of a credit card to obtain cash or complete transactions. This usually occurs in one of two ways – through the physical use of a lost or stolen credit card or the compromise of your digital financial data through… read more »

If you’re shopping around for a new card, you may be wondering how to choose the best credit card. With so many options out there, how can you start to work through all the considerations? We’ll help you make sense of how to compare and select a credit card, from the beginning of the process to your first swipe. Check Your Credit First things first. You want to know what kind of deals and rates you’re eligible for. Financial institutions look at your credit history and credit report to determine whether you get a higher or lower interest rate on your card. That means you need to check your credit… read more »