Borrowing

Buying a Home

• Before Buying Your First House - Buying your first house is a big step in your financial life. Be sure to understand some of the pros and cons of home ownership.
• Accumulating a Down Payment on a Home - This article includes a table showing what your monthly payments would be for different size mortgages at different interest rates. There are also nine suggested ways of building the funds needed for your down payment.
• Reduce Your Monthly Mortgage Payments By Increasing Your Down Payment - See how much of a down payment you need to reduce your mortgage depending on price of home and example interest rate.
• Mortgage Types - Choosing a mortgage doesn't have to be complicated. The right type of mortgage can help you afford the house you want and manage your long-term finances.
• The Importance of Fannie Mae and Freddie Mac - These two Government Sponsored Entities have a vital role in the housing economy. Recent market turmoil has resulted in additional government commitments to help them continue to provide mortgage liquidity and help to stabilize the housing market.
• Income Tax Implications of Home Ownership - Owning your own home can provide some tax deductions and potentially a reduction in your annual income tax bill. This article explores some of the favorable tax treatments homeowners can enjoy.

Refinancing a Home

• Should You Refinance Your Home Mortgage - The ever-changing interest rate environment means you should periodically evaluate whether you should refinance your mortgage. Here are some suggestions and worksheets for you to use.
• Consider Refinancing Regardless of Rates - It is only logical to consider refinancing a home mortgage to take advantage of lower rates, but there are other considerations that may make anytime the right time to consider refinancing. Choosing a type of mortgage so that it matches your plans and your financial situation may help you reduce your mortgage payments in any rate environment.
• Home Equity Loans - The equity in your home can be a powerful financial tool. Learn how these loans work and why they can be an attractive form of "tax advantaged" borrowing for you.

Personal Loans

• Developing and Using a Wise Borrowing Strategy - The sensible use of credit is part of a total financial strategy. Using credit can provide benefits, but also can have drawbacks. A few guidelines can help you feel comfortable with your credit use.
• Preparing to Borrow for Individuals - Having an understanding of what a lender considers when making a loan approval decision can help relieve some of the anxiety of applying for a loan. This article also describes some actions to take before applying to improve your chances of approval.
• Be Interest Rate Wise - Interest rates have become a highly visible issue with news items about rate changes almost everyday. Interest rates play a major role in our economy and in our daily lives. This article includes some background comments on interest rates and offers some suggestions on taking advantage of borrowing opportunities. The article was written to be customized with references to your organization.

Credit Cards

• Evaluating Credit Cards - If you are like many Americans, you mailbox is often filled with credit card offers from dozens of issuers. Choosing the right card should be based on your needs, how you use your card, rates and fees and the institution issuing the card.
• Guidelines for First Time Credit Card Users - Getting a first credit card can be intimidating and tempting. This article reviews some of the decisions credit card users should make and offers some guidelines for the prudent use of this financial convenience.
• Pay More Than The Credit Card Minimum - Every month you have the choice of how much to pay on your credit card. This article demonstrates why paying more than what is required can save you money in the short and long terms.
• Protecting Your Credit Card Activities - Credit cards are convenient, accepted by most stores, eliminate the need to carry cash, often easier to use than a check, and they can temporarily delay when you have to pay for your purchases. Along with these benefits, comes the risk that a thief will steal your card or your card information. Learn some guidelines to protect your credit card activities.