Mortgages

Timing is everything when trying to buy a new home and sell a current home. What if you sell first? What if you buy first? Can you work it out to have the best of both worlds with it all happening simultaneously? 

There are all kinds of variables out there looking to trip up your best efforts to make this a well-choreographed home exchange. For one, the supply of available homes for sale is at a low level, the lowest since 2005. This simply means competition for a home you like may be more intense, which in turn means the competing forces could extend the sales process, a bad thing if you sell your current home quickly.

It’s a tightrope you walk in such a situation, and chances are good the timing won’t work out perfectly. With that in mind, what are the advantages to each scenario?

Bank On MOre is a campaign developed by the Missouri Credit Union Association (MCUA) to raise awareness about credit unions in Missouri and our distinct differences from banks. You will see this campaign all around the area.

So you know the benefits of being a member of a credit union, but your friends and family don’t. Here’s a quick list of what credit unions offer that banks don’t, from the Bank On MOre campaign:

Higher education can be a real challenge with both an abrupt lifestyle change and some serious education. Unfortunately, that education could include a course in personal finance via The School of Hard Knocks. College is already expensive and doesn’t need additional financial pitfalls. According to College Board, an average college student at a public university will pay nearly $18,000 for tuition, fees, room and board for the 2012-2013 school year. That’s some real-world finance right there.

Many students aren’t ready for the financial grind of living on their own. There are mistakes that are easy to make. That’s where Vantage Credit Union’s College Resource Center can help. You’ll find all kinds of advice on all kinds of topics. One includes the seven worst money mistakes made by students. Let’s take a look.

East St. Louis. Florissant. Sunset Hills. Warrenton. Vantage has a presence throughout the St. Louis Metro area. We’ve been entrenched in the community for over 55 years now, and we consider ourselves lucky to be in a position to give back, whether through donations or services. Here are just a few things we’re proud of:

If your mortgage is approaching the finish line (in the neighborhood of ten years or less), you might be feeling left out of the refinancing picture. Everyone seems to be saving so much money with rates near historic lows, but with your shrinking mortgage, it may not seem feasible to refinance.

Plants blooming. Birds chirping. Short sleeves and comfortable shoes. It’s like a scene from Home & Garden Television as would-be homebuyers walk past that For Sale sign in your front yard during the spring and summer months. Then you have the stark landscape and hurried footsteps of winter.

So you were hurrying to work, late for a meeting, and you backed out of the driveway a little too quickly...YIPE! YIPE! YIPE! It’s all right, Gizmo is going to be fine...after a hefty vet bill. And you were just getting ahead financially. Sheesh. File it under “Life Happens.”

Kids. Car trouble. Spending spree. Unexpected illness. Yes, life happens, with or without our consent. It’s filled with twists and turns, many times with expenses for which we haven’t planned.

And when life happens, everyone has a story to tell.

Yes, we have winners! The end of our recent pre-qualified auto loan and mortgage loan promotions came complete with some lucky winners taking home some big money! Who won?

So you’re hopping from website to website, cruising the local neighborhoods, scoping out what the housing market has to offer, eh?  Good idea, it’s a buyer’s market these days. While there are many choices to consider at this point, the most basic one might be whether to buy a pre-owned home or start literally from the ground up and go with a newly built home.

You’re leaning toward the brand new home for a number of reasons. One, with the new home, you’re starting with a clean slate, you get to personalize the place; you don’t have to undo what a previous owner thought was the cat’s meow, namely that four-cat apartment in the middle of the living room. Two, you get the latest in technology and systems. Three, the utility bills will likely be lower as your new appliances are apt to be more efficient. These are just a few of the pluses of a place with that new-home smell.

So new it is. Here are some tips to help you navigate the new-home market.

The good news: there’s never been a better time to buy a new home! Rates are near historically low levels, and sellers are ready to deal. The bad news: you’re a seller as well. You have to unload your current home in a buyer’s market. Hey, you can’t have it all, but you can have a better shot at selling your home quickly if you list it correctly. Here are some tips on what NOT to do.