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2024 Home Ownership Unachievable? Prepare with These 8 Tips.

Posted On: May 17, 2024 by Prevail Bank in: Home Loans

2024 home ownership unachievable? Prepare with these 8 tips.

Are the high home prices and interest rates kiboshing your plans of home ownership? It doesn’t have to be hopeless. Follow these tips so when the right house, the ‘affordable’ house, is available, you can confidently make an offer.

If you’d describe the home buying landscape as terrible or nightmarish, you wouldn’t be alone. A PBS News Hour article (March 2024) says the U.S. housing market is...

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Tags: First-Time Homebuyer, home ownership, Mortgage Tips

Prepare for Winter Inflation with These Savings Tips

Prepare for Winter Inflation with These Savings Tips

Posted On: November 6, 2023 by Prevail Bank in: Banking, Home Loans

 

With costs on the rise due to inflation, many people are having a tough time making ends meet. This obviously puts a strain on savings and makes it difficult to be prepared for winter, the holiday gifting season, and unexpected emergencies. Here are tips that may help you.

The average home in the US spends more than $2,000 a year on energy; 55% of that is for heating and cooling. Midwest winters can be freakishly cold. All joking aside,   

How can you...
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Tags: heloc, Home Equity, Inflation, Savings TIps, Winter Savings Tips

Hand holding keys

What is a Credit Score & Why Does it Matter?

Posted On: October 23, 2023 by Prevail Bank in: Banking, Business, Digital Banking, Home Loans

 

Are you in the market for a car, apartment, or your very first home? If you answered yes to any of these, then you should focus on understanding credit scores and why they are essential.

What is a Credit Score?

A credit score is a 3-digit number (between 300 to 850) that your lender will use to determine your creditworthiness. Think of your credit score like a report card – it shows whether you've been meeting your debt payments on time. The lender uses...

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Tags: Credit Report, credit score, credit score tips, Credit Sense, financial education

Home Loan - Pre-Approval Vs. Pre-Qualification

The Importance of a Pre-qualification when House Hunting

Posted On: May 31, 2023 by Prevail Bank in: Home Loans

 

House hunting can be one of the most exciting times in your life. Searching for the home with the perfect back yard, one with just the right kitchen counter space, or one where you can see your children or grandchildren making memories is both exhilarating and sometimes perplexing. How much house can you afford? After all, it’s probably one of the biggest investments you’ll make. So how can a mortgage pre-qualification set your mind at ease? Let’s see how.

What...
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Tags: buying a new house, Home Loans, Pre-Approval, Pre-Approval Vs. Pre-qualification, Pre-Qualification

Trigger Leads Blog

Why Do I Get Spam Calls After I Apply for a Mortgage?

Posted On: May 1, 2023 by Prevail Bank in: Home Loans

Why do I get spam calls after I apply for a mortgage?

We understand that this can be frustrating for you as a consumer. It's natural to assume that the bank sold your information to a third-party vendor. However, it's important to know that the bank did not sell your information.

The credit bureaus sold your information as a trigger lead.

What is a trigger lead?

Trigger leads are consumer reports created and sold by the credit bureaus and include data on...

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Tags: Mortgage Tips, trigger leads

Will the May 2023 Mortgage Fee Structure Change Impact me?

Will the May 2023 Mortgage Fee Structure Change Impact me?

Posted On: April 28, 2023 by Prevail Bank in: Home Loans

 

Effective May 1st, 2023, Fannie Mae and Freddie Mac is making changes to the Loan-Level Price Adjustment Matrix.

These fee structure changes will impact all whole loans purchased on or after May 1, 2023, and for loans delivered into MBS with issue dates on or after May 1, 2023, unless otherwise noted here.

Will these LLPA Changes Impact Prevail Bank Home Loans?

No, this mortgage fee structure change will impact only those loans that are sold directly to...

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Tags: Fannie Mae and Freddie Mac, Mortgage Fee Structure Change, Mortgage Tips

What should be taken into consideration when remodeling a home

What Should be Taken into Consideration When Remodeling a Home?

Posted On: April 1, 2023 by Prevail Bank in: Home Loans

What should be taken into consideration when remodeling a home?

Remodeling a home can be an exciting and rewarding experience, but it also requires a considerable amount of time, effort, and money. Carefully consider the pros and cons of remodeling before taking on such a project. Homeowners typically consider remodeling when their current living space no longer meets their needs, or if they want to make improvements that will increase the value of their property.

What are the Pros and...
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Tags: Home Equity, Home Loans, Mortgage Tips, remodeling

7 Mistakes First-Time Home Buyers Make

7 Mistakes First-Time Home Buyers Make

Posted On: March 13, 2023 by Prevail Bank in: Home Loans

7 Mistakes First-Time Home Buyers Make

 

You’re officially a first-time home buyer. Congratulations! Now the hard parts over, right? Not necessarily. What happens after you move into your new home? Costs associated with upkeep, improvements, and other expenses can and will pop up. If you aren't educated in these areas, you leave yourself open to making costly mistakes.

This article will help provide a step-by-step education for first time home buyers to help...

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Tags: First-Time Home Buyer, First-Time Homebuyer, Mortgage Tips

Home and Vehicle Winter Savings Tips

Home and Vehicle Winter Savings Tips

Posted On: February 1, 2023 by Prevail Bank in: Banking, Home Loans

Home and Vehicle Winter Savings Tips

Our Wisconsin winter’s average low temperature is 5 degrees in February, and the high temperature is below freezing. These temps can lead to a constant humming from your furnace during winter months. Cold temperatures not only affect your heat bill compared to warmer months but also put stress on your vehicle and possibly your wallet.

So, what can you do to save on home energy during the winter? And what can you do to be kind to...

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Tags: Mortgage Tips, Savings TIps, Winter Savings Tips

5 tips to build equity in your home

5 Tips to Build Equity in Your Home

Posted On: March 1, 2022 by Prevail Bank in: Home Loans

What does equity in a home mean?

Home equity is the difference between the balance on your mortgage and the current value of your home. For example, if you have $225,000 left on your mortgage and the present value of your home is $310,000, you have $85,000 of equity in your home.

Is equity in a house good?

Equity is important because it is considered an asset and counts toward your total net worth.

As long as you’re paying down your loan and the market value of...
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Tags: Home Equity, Mortgage Tips

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