Banknotes Blog

Senate Bill 451: Understanding the Differences Between Credit Unions and Banks

By: Stephen Eager

The Wisconsin State Senate is currently considering a bill to help modernize some language that no longer applies in today’s financial landscape, and therefore causes some administrative hassles for credit unions, specifically. To be clear, we are in support of the majority of the bill. However, there are four provisions that blur the lines between credit unions and banks that we believe should be removed.

A home equity line of credit (HELOC) can serve as a useful tool in your overall financial toolbox. It's a line of credit that uses your home as collateral, in a general sense working more like a credit card than a typical loan. Let’s look at how a HELOC can help you meet your cash flow needs.

For those who didn’t purchase or refinance last year, you might be feeling like you missed the boat on low mortgage interest rates. Current rates may be making people experience a bit of sticker shock comparatively. Is it too late to take advantage of the low-rate trend? The answer is no … relatively speaking.

If you are looking to purchase a home, understanding what a Debt to Income Ratio means, and what your DTI is, is important in securing a great mortgage.

When it comes to the question of buying or building, there is no right or wrong answer. But there may be a better answer depending on your goals and priorities.

For many, owning a second home is a dream. Before you decide to make your dream come true, let’s look at a few of the factors that should be considered.

Money can be one of the biggest stressors in a relationship. Being on the same page about how to handle it can be a game changer for many couples.

When buying a house or making any big purchase together, it’s important for couples to be on the same page financially.

A cash-out mortgage refinance loan can free up immediate cash using the equity you’ve built up in your home over the years. But there are exceptions.

Many people are looking for immediate cash these days. Depending on your situation, a cash-out refinance might be the solution.

Many people are worried about how they can make ends meet for the next few months and beyond. One option to consider for financial relief is your mortgage.

A bridge loan may be handy in a seller's market. Learn more about how a bridge loan works, and what the benefits of a bridge loan are.

Saving for a down payment can be tough. We debunk four myths around down payments to help future homeowners get their dream home.

Becoming a homeowner can actually help create wealth. Learn why renting doesn't always mean saving money, and why becoming a homeowner is very attainable.

It's a seller’s market: little supply of homes and high buyer demand. Getting pre-approved will be instrumental in having your offer accepted.

Learn what the new 2017 tax law changes mean for those with or looking to get a home equity loan or line of credit.

NOW is a good time to buy a home. The cost of home ownership continues to remain low, where renting has gone up.

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