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Tag Archives: loans
5 tips for saving for a down payment on a home
The first financial challenge when you’re thinking about buying a home is how to come up with the down payment.
Traditionally, homebuyers need a down payment between 10 percent and 20 percent of the purchase price. During the housing bubble that figure dropped sharply, even down to zero. But loans that didn’t require a down payment are now seen as one of the culprits of the mortgage crisis, because they allowed people to buy homes they couldn’t afford.
These days, it’s rare to get a mortgage without contributing some of your own cash. And if you’re trying to buy a home that was foreclosed or through a short sale — where the purchase price is below the amount owed on the house — a larger down payment
Julie and Mark Parrish pay their three boys a weekly allowance . . . read more Read More
Homebuyers scramble as mortgage rates jump
The era of record-low mortgage rates is over.
The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market. . . . read more Read More
Smart Spending: Back to school on a budget
When it comes to retraining, updating skills or finally finishing an abandoned degree, working adults can feel stuck in the search for extra education.
It can be hard to figure out how to get time away from work and personal obligations, even for online or evening classes. Most difficult of all, school can be expensive, whether you hope to qualify for a promotion or explore a new career.
Americans are always interested in extra education — from single courses to advanced degrees — but even more so when the economy goes south, says Timothy Sloate, director of research at the University Continuing Education Association. . . . read more Read More
Zions Top Lender of New SBA ARC Loans
Zions First National Bank, a subsidiary of Zions Bancorporation, was the first financial institution in the nation to receive authorization by the U.S. Small Business Administration (SBA) to extend a new America’s Recovery Capital (ARC) loan to a small business client. Zions Bank received approval of an ARC loan application from the SBA on June 15, 2009, the day SBA began offering these loans that provide an immediate infusion of capital to small businesses to assist with making payments of principal and interest on existing debt. Read More
