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PersonalHub

Your one-stop resource for everything related to your financial well-being. 

 

How to Save a Down Payment for a Home in 12 Months

There comes a time in many people’s lives when the idea of buying a home goes from “someday” to “someday soon.” However, one of the major hurdles first-time homebuyers face is coming up with a down payment. According to Zillow1, the median home price in the U.S. is $226,800, so a 20% down payment equates to just over $45,000! While saving that much money in a year may seem like an impossible feat, there are options to help you achieve your goal of homeownership. Here are a few ideas to help you get your down-payment account funded within 12 months:

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If You're Thinking About Refinancing Your Mortgage, Ask Yourself These Questions

With interest rates near historic lows, it’s a good time to consider whether refinancing your home loan might help you lower your monthly payment or achieve other financial goals such as paying for college or home improvements. Simply stated, when you refinance your mortgage, you take out a new loan that pays off your original mortgage. The new loan can have a lower interest rate, a shorter or longer loan term, and depending on the appraised value of your home, you may be able to borrow more.

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How a Flood Policy is Priced

When researching flood insurance policies, whether by personal choice or by mandate from your mortgage company, price is likely one of the aspects that is high on your inquiry list. For many people, there are two policy options: the National Flood Insurance Program (NFIP) managed by the Federal Emergency Management Agency (FEMA), and private market flood insurance, both of which can be purchased through a licensed insurance agent.

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Living With HeART #LIAM

September is Life Insurance Awareness Month, and every year, we make a concerted effort to educate the public about the importance of life insurance. For many Americans, the idea of securing life insurance can be overwhelming, and 86% of uninsured people over-estimate the cost of life insurance by nearly two times according to LIMRA.1

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Top Reasons to Get Life Insurance

Think you don’t need life insurance? Well, you’re not alone. In fact, according to a 2018 study, 4 out of 5 Americans without life insurance believe they don’t need coverage.1 The truth is, you could leave your loved ones at financial risk without a policy in place to protect them if you pass away. Play our game below to discover some of the top reasons to get life insurance.

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6 Must- Do's When Naming Your Life Insurance Beneficiary

Are you one of the 62% of Americans that has life insurance coverage? If you answered 'yes,' congratulations and job well done! You have taken a proactive step in securing the future of your loved ones in the event of your untimely death. Life insurance should be a part of everyone's financial plan.

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The True Costs of Mortgage Refinance

Simply stated, when you refinance your mortgage, you are taking out a new loan that replaces your original mortgage. The new loan pays off your original mortgage and comes with its own loan terms, which will be different from your original loan.

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4 Times You Should Consider Refinancing Your Home

In early August, the rate for a 30-year fixed-rate mortgage averaged 3.75%. According to HousingWire, these low rates put 8.2 million mortgages in the “refi eligible” zone. Essentially, this means that refinancing will likely save money on the mortgage, despite the application and funding costs.

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Rebuilding After a Flood or Hurricane

Floods are the most common natural disaster in the country. According to FEMA, a mere inch of flood water in your home can result in over $27,000 in property damage! Despite this, homeowner’s insurance does not typically cover damages caused by flooding!

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The Top 10 Flood Markets

Floods are the number one natural disaster in the United States,1 and unfortunately, many Americans do not have flood insurance to protect their homes and belongings. The following states have the most homes in the highest flood risk zones.1 Hover over each state to view declared [as defined by The National Flood Insurance Program (NFIP)] floods and natural disasters that have occurred since 1953.2

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