Healthcare costs in the U.S. have never been higher, and that means businesses and employees need to be strategic about how they fund medical expenses. To this end, a health savings account (HSA) can be one of the most financially rewarding and useful supplements to a health insurance plan. Let’s examine some of the advantages…
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Cash Management has many layers of security to help protect your business from fraud. Dual Control is one layer of security in Cash Management that you may not be aware of. It requires two people in order to complete a single wire transfer or ACH batch transaction. When Dual Control settings are enabled, a single…
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To buy or to build? It’s a question that faces many who enter the housing market. Whether you’re a first-time homebuyer or you’re looking for something that better fits your family’s needs, it’s a question that you’ll likely have to consider. Whatever direction you decide to go, it’s important to compare the positives and negatives…
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If you’re known to dabble in a little online browsing, odds are you’ve encountered a pop-up once or twice. There are times when you may think, “Wow, that’s a great deal!” and click on a pop-up. If you ever see a pop-up, put down the mouse. Why? That pop-up could be malicious or dangerous. There…
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Lean on Your Ag Lender as Your “Financial Mentor” Recent years have brought many challenges to farmers in the Midwest. Although production has been high, commodity prices have remained low. Trade negotiations with China have added more strain on an already struggling industry. Agricultural lenders are familiar with all of these issues and can help…
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We get it. With the exception of a few sun belt states, shopping for a house in the winter just seems off. The traditional time to go from listing to listing is spring and summer. But while things slow down this time of year, there are some hidden advantages to choosing it as your buying…
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Holidays are a busy and stressful time of year. There’s traveling and planning for visitors. Buying and wrapping presents for loved ones. Avoiding the flu. Cybercriminals know the hectic nature of holiday preparation and attempt to take advantage of anyone who may not be paying close attention, particularly older adults. It’s crucial that the elderly…
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One of the keys to success for today’s agricultural producers is a strong marketing plan which includes knowing break-even costs, having a solid action plan and keeping emotions out of it, according to tips released by the American Bankers Association at the ABA National Agricultural Bankers conference in Omaha, Neb. Members of the ABA Agricultural…
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October 18, 2019, is Get Smart About Credit day! The American Bankers Association Community Engagement Foundation works with banks around the country to raise awareness about the importance of using credit wisely. This national campaign aims to help young people develop responsible credit habits — from building a credit history to making responsible decisions regarding…
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Down payments are challenging for many first-time homebuyers. It seems that the initial financial stab at home ownership is among the greatest roadblocks of owning a home. The transition from renter to homeowner or to vacate their parents’ basement as they save up is taking longer and longer. Family members willing to pitch in…
Continue Note the Rules of Using Gift Money Toward a Down Payment
There are some tips to keep in mind to begin the conversation about life insurance.
Older adults are increasingly the targets of scammers who use deception and fear tactics to convince the elderly to send money or provide personal account information. Make sure your loved ones are aware of these common type of scams. Common Phone and Internet Scams Grandparent Scam A common telephone scam is the “grandparent scam” where the fraudster calls…
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Flooding, hurricanes, fires or tornadoes. We know they can happen. If you haven’t witnessed it personally, just turn on TV or your computer to see the devastation in our region and elsewhere in the country. It’s hard to imagine the actual experience of having your home destroyed or living in temporary shelters. This inability to fathom the horrors of natural…
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It’s not all that uncommon. You tried to fix something in your house using all the analytic skills you apply to other parts of your life, inspired by how easy it looks on HGTV. With all the best of intentions, however, what seemed simple turned into an obviously less-than-expert job. In fact, even your Realtor…
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The VA loan is one of the best mortgage loans there is. Here are some reasons why. First, VA guarantees the loan for 100% of the appraised value of the property (technically, the loan is for the Notice Of Value amount, which in most cases is the same thing). This guarantee means that the lender…
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The appraisal process is a combination of science and opinion—but mostly science, even though the value that the appraiser delivers is called an “opinion of value” as of the effective date of the appraisal. Here’s how the process works: First, the appraiser describes the house being appraised (the “subject”) in a standardized way: living…
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A 20% down payment is anything but standard. Making a smaller down payment does involve some form of mortgage insurance (MI). This is a fee paid to limit the lender’s risk when there is a lower down payment. Conventional loans are available with as little as 3% down. The cost of the mortgage insurance depends…
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You can’t predict if or when someone might attempt to steal your possessions, but you can anticipate it and take measures to reduce your risk of loss.
Many first-time homebuyers have stars in their eyes when they first begun house-hunting. Their ideal is a house that is move-in-ready, offers the number of bedrooms/baths/square footage they’re looking for, is in a great neighborhood and, of course, is within their budget. Matching all that criteria is often a tall order, especially the move-in-ready aspect of…
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There are two aspects to this dilemma. From a lending standpoint, you don’t have to have any cash reserves after the purchase. You can buy a home for as little as nothing down if you are a veteran, or 3-5% for a conventional loan. You’ll just have to be able to document the source of…
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