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Freedom First Credit Union How to Finance Your Home Improvement Projects

Your home is more than just a house. It’s where you create memories with friends and family. It’s a reflection of you and your personality. It’s a financial investment. And, since the pandemic started, it’s a place where you spend a lot of time!

Customizing your living space to fit your needs and building an environment where you feel comfortable is a common goal among homeowners. However, deciding the right way to finance these projects can be quite confusing.

From upgrading furniture to remodeling a kitchen or even putting in a pool, there are a variety of financing options available. To find the solution that will work best for your project, review the following alternatives below.


Freedom First Credit Union Double Check Your Loans Before the End of the Year

With the holidays quickly approaching, your mind is probably focused on gift lists, decorations, travel plans, and family events. But the end of the year is also the perfect time to review your loans.

While loans typically make up members’ largest monthly expenses — from mortgages and car loans to student loans and credit cards — they also provide some of the most significant saving opportunities. Taking time to review your existing loans and looking for opportunities to save could put you in a much better financial position as a new year rolls around.


Freedom First Credit Union Should I Buy a House Now?

Q: I’ve been saving up for a down payment with plans to buy a house and feel ready. But, with the real estate market hotter than ever right now, I’m wondering if I should go ahead with my purchase or push it off until the market settles down. Should I buy a house now?

A: The real estate market has been hit particularly hard by the coronavirus pandemic. Coupled with several factors, like falling interest rates, moratoriums on foreclosures or evictions and an increase in demand, prices have driven upward across the country. 


Freedom First Credit Union Should I Refinance My Home Mortgage?

Q: Many of my friends have refinanced their mortgage recently, and they’re urging me to do the same thing. Money is always a bit tight, and the thought of an extra few hundred dollars a month is very tempting. Should I refinance?

A: Refinancing a mortgage is essentially paying off the remaining balance on an existing home loan and then taking out another mortgage, usually at a lower interest rate. It may sound like a no-brainer, but there are lots of factors to consider before deciding to refinance.


Freedom First Credit Union Should I Refinance Before I Retire?

Q: I’m in my mid-50s and I’m preparing to retire sometime down the line. I’m wondering if I should refinance my mortgage as part of my retirement planning. Is that a good idea?

A: Refinancing your existing mortgage can have a large impact on your financial health, for better or for worse. Be sure to consider all angles before deciding if a pre-retirement refinance is right for you.


Freedom First Credit Union Mortgage Rates Are Dropping; Should I Refinance?

Q: I’ve heard that mortgage rates have dropped dramatically since the start of 2019. Should I refinance my mortgage loan to take advantage of these lower rates?

A: Refinancing a mortgage is essentially paying off the remaining balance on an existing home loan and then taking out a new mortgage loan, often at a lower interest rate. It may sound like a no-brainer, but there are many factors to consider before moving forward with a refinance.


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