As the holidays approach, gift cards remain a popular gift option, but they’re also a target for scammers. These fraudsters use tactics like phishing and tampering with physical gift cards to steal funds before they can be used. To protect yourself and your loved ones this season, it’s important to stay aware of these risks.
Having a well-stocked emergency fund is important. But so is saving for retirement. So how do you know which one to focus on? Well, we’ve got you covered. Here’s what you should know.
Halloween is a time for spooky fun, but it can also bring a scare to your wallet if you're not careful. From costumes to decorations and treats, the costs can add up quickly. Here’s how to manage your Halloween budget and keep your spending under control while still enjoying the festivities.
Now is the moment to turn your attention to your tax obligations. With less than 60 days remaining until the tax deadline now is a good time to prepare your documents and file.
Need a smart strategy to save on essential school supplies? Planning your dream vacation or gearing up for the holiday season? With a club account, you can save for essential school supplies, exciting vacations, and joyful holiday celebrations, making your financial goals more attainable and stress-free.
Has it been a few years since you purchased your home? Things may have changed for you since you made that commitment to a 30-year mortgage – your income and credit score could have gone up. Interest rates may have gone down. Now is a great time to see if refinancing your mortgage makes sense for you!
If interest rates are lower now than you are currently paying on your mortgage, you’ll likely save money by refinancing your mortgage. You’ll potentially pay less money each month and less interest over the life of the loan. You may also save money by switching from a fixed-rate mortgage to a variable-rate mortgage or vice versa.
There’s another way to possibly save money on interest: your credit score. If your credit score has improved since you applied for your current mortgage, you may be eligible for lower interest rates.
Even if interest rates and your credit score haven’t changed since you purchased your home, you could save thousands in interest by refinancing a 30-year mortgage with a 10- or 15-year fixed-rate mortgage.
Wouldn’t it be fantastic to have one less bill to pay each month? If you refinance your 30-year mortgage with a 10- or 15-year mortgage, you’ll pay off your loan much earlier, and will free up more money in your monthly budget once it’s paid off. Another benefit of paying off your mortgage faster is it allows you to build equity in your home faster. You could use that available equity for possible home equity loans in the future for home improvements, renovations, repairs, and more!
If you have built up equity in your home, you may be able to get a home equity loan and use some of it to pay off any high interest credit card debt. You’ll likely save significantly over credit card interest and fees, and will eliminate more payments from your monthly budget. Would that help you breathe easier on bill-paying days?
Our mortgage consultants are here to help you through the refi process and help you compare your options.
*These interest rates are used as an example only and are hypothetical. Contact us directly for current rate information– visit mvcu.com or call 800-356-0067.