Navigating 2024: A Look Ahead at Mortgage Trends As we usher in the new year, homeowners and prospective buyers have their eyes set on the horizon, anticipating what the mortgage landscape may hold in 2024. At Marshfield Medical Center Credit Union, we understand the importance of staying informed about market trends to make sound financial...Read More
Ready to upgrade your home in 2024? A home renovation loan can be a useful financial tool to fund improvements or repairs to your home. Upgrading your home can bring numerous benefits, including increased comfort, energy efficiency, and enhanced property value. Modernizing your space through renovations or adding smart home technology can improve daily living...Read More
Are you ready to take the exciting leap into homeownership? MMCCU is excited to introduce our brand-new First-Time Homebuyer Loan, designed to make your home-buying journey smoother and more affordable. Low Down Payment: With our First-Time Homebuyer Loan, you’ll only need a 3.5% down payment based on the lesser of the purchase price or appraised...Read More
Consolidating debt with a mortgage involves using the equity in your home to pay off high-interest debt such as credit cards or personal loans. Here are the steps you can take to use your mortgage to consolidate your debt: Assess your current debt: Start by making a list of all your debts, including the outstanding...Read More
There are benefits of taking out a second mortgage. A second mortgage is a separate loan that you take out (in addition to your first mortgage). You can borrow on the equity in your home up to certain percentage, usually 80% of the value of your home, including your first mortgage balance. (Example: Your home...Read More
A home equity loan is a type of loan where a homeowner can borrow against the equity in their home, which is the difference between the home’s market value and the outstanding mortgage balance. Equity in your home is calculated as the difference between your home’s value and your mortgage balance. Loans are secured against...Read More
Wondering where to get a mortgage in 2023? A house is one of the biggest purchases you’ll likely make in your lifetime, so it’s important to find a lender that fits your needs. At MMCCU, we work with our members to make sure they are getting fair terms and comfortable rates. Mortgages are complicated, but...Read More
The decision to rent or buy depends on each individual’s circumstances. Each option has its advantages and disadvantages. When evaluating renting vs buying and which one makes the most sense for your situation, there are several factors to take into consideration. These include: The market where you want to live How much down payment you...Read More
Hey everybody, this is David Murphy, President at the Marshfield Medical Center Credit Union, and welcome to “The Credit You Deserve” podcast. In this podcast, we will cover relevant topics that impact your personal finances. You will walk away better informed about the basics of personal finances with tips and recommendations you can incorporate into...Read More
If you own a home, you might be wondering what is the difference between first and second mortgages. In short, a first mortgage is the primary loan that you take out to purchase a home. You go to a lender, take out a loan (mortgage) to pay for the home. Your property is the collateral...Read More
