MoneyWisdom Blog

5 Smart Moves to Make With a Raise

Posted by Sandra Quadros Bowles on Aug 21, 2019 8:27:00 AM

Your boss calls you into the office with great news: You've earned a raise, or perhaps you're getting a bonus for all the hard work you've done this year. Now you can buy those shoes you’ve been eyeing, or replace your old iPhone with the latest iteration.

While the urge to celebrate and reward yourself is understandable, hold onto your wallet and think before spending. Putting your long-term goals ahead of short-term needs can make your money work harder for you in the long run, reduce crippling debt, or boost savings for a rainy day or a sunny retirement.

Here are five things you can do with that raise that'll help you reach your financial goals:

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Topics: Debt, Savings, mortgage, Credit Card, Work, Financial Wellness

Back to Basics: Your Mortgage

Posted by Hanscom Federal Credit Union on Jul 11, 2019 11:17:10 AM

How often do you buy a house? Not very often if you’re the typical American. Let’s say you own three houses in your lifetime: your starter home, the one you purchase to accommodate your growing family, and your empty-nester home. That’s a long time between purchases to remember all the ins and outs of getting a mortgage. Who can remember all those details?

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Topics: mortgage

What Does an Underwriter Look for When Reviewing a Home Appraisal?

Posted by Bill Burpeau on May 24, 2019 4:30:00 PM

A home appraisal not only verifies that a home's value supports a loan request, it also verifies that the property is as marketable as comparable properties in the area. A lender wants to be confident that if the home has to be sold, it will be easy to market and sell to the next buyer.

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Topics: mortgage

4 Things Every Homebuyer Needs to Know About Adjustable Rate Mortgages (ARMs)

Posted by Hanscom Federal Credit Union on Feb 20, 2019 10:16:57 AM

If you’re shopping for a home for the first time, you’ve probably heard of an Adjustable Rate Mortgage, or ARM. It’s a type of home loan with an interest rate that changes over time.

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Topics: mortgage, Home Ownership

Before Applying for a Mortgage: 5 Steps to Organize Your Finances

Posted by Hanscom Federal Credit Union on Feb 12, 2019 8:54:28 AM

You really want to buy a home — after all, it is still a part of the American Dream — but the finances of it can seem overwhelming. That’s why it’s so important to do some thorough prep work before you start looking for a mortgage.

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Topics: mortgage

Pre-Qualified or Pre-Approved: What’s the Difference?

Posted by Joshua Rakiey on Feb 12, 2019 8:05:00 AM

In the past, realtors and people selling homes were looking out for buyers who were pre-approved. Pre-approved was a broad term that could mean anything from a potential buyer who applied for a loan to a buyer whose underwriting was done and they had been approved for a specific amount of money. Pre-Qualified and Pre-Approved were essentially interchangeable.

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Topics: mortgage

Welcome Home to Our First 100% Financed Mortgage Home Buyers

Posted by Diana Burrell on Sep 17, 2018 9:08:00 AM

Like many young couples, Bryan and Allysann looked forward to owning their first home together. They quickly discovered, however, the financial requirements for home ownership can be daunting … even a bit discouraging.

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Topics: mortgage, Home Ownership

Introducing Hanscom FCU's No-Money-Down Mortgage

Posted by Diana Burrell on May 3, 2018 2:14:17 PM

Maybe you’re tired of writing rent checks each month, knowing that your hard-earned salary funds your landlord’s real estate investment. Or that living below a bunch of hard-partying college kids has worn thin, along with your apartment walls, which are more like Egyptian papyrus — and as old, too!

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Topics: Money Management, mortgage, Home Ownership

First Steps for Seniors in Debt

Posted by Hanscom Federal Credit Union on Dec 24, 2017 11:22:56 AM

Many seniors avoid seeking help for their money problems, citing reasons such as not wanting to bother people, not knowing who to trust, and feeling ashamed. Yet trying to deal with debt issues alone is often not the best approach. While money problems may be uncomfortable to talk about, there are resources where you can find valuable assistance.

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Topics: Debt, mortgage

Costs to consider before buying an investment property

Posted by Phil Purcell on Nov 9, 2017 5:00:00 PM

In order for this to be an enjoyable, rewarding and lucrative experience, it’s vital that you’re fully aware of what’s involved and required to be successful. While this article not meant to deter you, it is meant to honestly depict all the responsibilities of property ownership.

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Topics: mortgage, Investment Property, Investment

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