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Current State Farm Mortgage Rates Reviews: Today’s Best Analysis

State Farm’s banking and financial arm is State Farm Bank, a distinct business owned by the parent company. State Farm was founded in 1922 in Bloomington, Illinois. State Farm Bank began operations in 1999 and is still headquartered in Bloomington.

State Farm Mortgage Facts

• Founded in 1922 in Bloomington, Illinois, where it still has its main headquarters
• Primarily specialize in insurance, and the car insurance organization is the parent company of State Farm’s other businesses
• Provides basic banking and investment services alongside home loans, auto loans, mutual funds, and other offerings
• Options include fixed- and adjustable-rate mortgages in conforming and non-conforming configurations, as well as FHA loans and VA loans within the southeast U.S.
• Branches in Idaho and Washington have received A+ ratings from the Better Business Bureau
• Offers a wealth of online resources as well as online home loan center where potential borrowers can review the progress of their applications

Overview

State Farm’s banking and finance business, founded in 1999, leverages the nearly 100 years of operations its parent company has to raise awareness of its offerings. It serves all U.S. states, except Ohio, and Washington, D.C. State Farm does not appear on the Consumer Financial Protection Bureau’s list of mortgage providers with the highest number of originations. A lack of BBB accreditation and official ratings for the headquarters and many branches is also a concern.

However, its broad reach and supportive approach to lending and customer support are strong positives. Representatives are available via phone from 6 a.m. – 11 p.m., Central time, Monday through Friday and 8 a.m. – 8 p.m. on weekends and holidays. State Farm additionally offers a wide array of resources and information for potential and current borrowers, like current rate information, personalized loan calculators and guidance on buying and selling homes.

Current State Farm Mortgage Rates

State Farm Mortgage Specifics

Home loans offered by State Farm are generally traditional for the average customer, with conforming and non-conforming fixed- and adjustable-rate offerings available, alongside FHA loans and VA loans. The company is transparent about its mortgage rates, offering detailed information about its core loan products to all who are interested on its website. State Farm provides the opportunity to buy discount points at the onset of the loan for a lower interest rate.

Understanding the differences between the mortgage products made available by State Farm helps you identify the option that aligns best with your needs and goals. The choices you make in terms of a specific mortgage product can influence your chances of qualifying for a loan, so be sure to keep these details in mind as you move on in the process.

Fixed-rate mortgage: One of the significant benefits of a fixed-rate mortgage is its predictability. When you’re approved for a fixed-rate home loan by your lender, you can predict the majority of the cost going forward. Only ancillary considerations like insurance and property taxes can change the monthly payment. This is helpful to both managing a monthly budget and calculating the total lifetime cost of the loan. Remember that, due to how interest accrues, a shorter mortgage term will involve higher monthly payments but a lower total cost. A longer term leads to the opposite situation. If you plan to stay in this home for a significant period of time or don’t expect to see significant increases in your income, a fixed-rate loan can be an effective choice.

Adjustable-rate mortgage

Often abbreviated to ARM, this type of home loan has an interest rate that is set for an initial period of time as the loan begins, then changes after that period expires. ARMs are often beneficial at their onset because they can offer a lower interest rate than is available from other options. They also include a higher risk than a fixed-rate mortgage. The interest rate will go up or down after adjustment based on a variety of economic factors. Borrowers may face a reduced or increased payment for reasons tied to broader economic activity, which are generally out of their control. ARMs are especially useful when borrowers don’t plan to stay in the home tied to the loan for the long term or expect to pay off their loan in a relatively short period of time.

Jumbo mortgage: A jumbo mortgage exceeds the financial limits for conforming loans, which are established by the Federal Housing Finance Agency and backed by federal government-sponsored enterprises Fannie Mae and Freddie Mac. The 2019 baseline limit is $484,350, with larger loans allowed in areas where real estate prices are especially high. Jumbo home loans provide those interested in living in a large home an effective avenue to ownership. Due to the lack of federal guarantee for this type of loan, strong credit and assets that can be used as loan collateral are often important factors. Jumbo loans can be either fixed- or adjustable-rate mortgages, depending on the preference of the borrower and other factors.

FHA mortgage: The Federal Housing Administration backs this type of home loan. First-time homeowners often use it. There are other situations where this type of loan is applicable, such as for those who want to improve the energy efficiency of their home. Benefits of FHA loans include lowered minimum credit score requirements and down payment requirements. With a credit score of 580 or higher, borrowers only have to put 3.5 percent down.

VA mortgage: The Department of Veterans Affairs aims to facilitate homeownership among veterans of the armed services as well as active-duty service members and qualifying surviving spouses. With strict qualifying requirements, this type of loan has a limited audience. However, those who qualify enjoy a variety of benefits, including lower interest rates and reduced down payments.

State Farm Customer Experience

State Farm’s banking and finance operation has close to two decades of experience, offering a wide variety of accounts, investment vehicles, and loans to customers. Bank operations include a capable staff of in-house financial specialists who are in many cases supplemented by State Farm agents. The application process at State Farm begins with a phone or in-person conversation with a mortgage-licensed agent. The company offers an online mortgage center and allows applicants to track progress online. State Farm provides a variety of other informative articles, resources and interactive assets, including a personalized loan finder program and a buying vs. renting calculator. 

State Farm does not appear on the J.D. Power Primary Mortgage Originator rankings. It is not among the companies listed in the Consumer Financial Protection Bureau’s complaint report. State Farm doesn’t list its average time to closing. Potential borrowers should keep the national time-to-close average of 41 days, calculated by Ellie Mae, in mind.

State Farm Lender Reputation

State Farm Bank offers a variety of banking and financial services, including home loans. Its headquarters is based in Bloomington, Illinois. It was founded in 1999. Its unique Nationwide Mortgage Licensing System ID number is 139716 and is a member of the FDIC and an Equal Housing Lender.

Many of its offices aren’t accredited or rated by the Better Business Bureau, but the few that are have A+ ratings. The headquarters location has an average consumer rating of just over 1/5 stars and 1,413 complaints closed in the previous three years. However, a significant majority of these complaints and ratings are tied to the company’s insurance offerings and do not provide insight into its home loan operations. It has no ratings on Trustpilot. The NMLS took two enforcement actions against State Farm Bank in December 2018, while the CFPB has no record of past actions.

• Information collected on Jan 28, 2019

State Farm Mortgage Qualifications

While State Farm makes a point to list rate information and other details about its home loans, it doesn’t make guidance about minimum credit scores, preferred debt-to-income ratios and other information readily available. Those interested in applying for a loan with State Farm can learn more by getting in touch with the company.

A basic understanding of credit scores is invaluable as you begin the process of seeking out a home loan. Keep the following information in mind as you consider your mortgage options. Generally, higher credit scores can lead to more favorable rates and terms, because mortgage lenders see such borrowers as having a lower level of risk. The opposite is generally true of lower scores. While many other factors are in play, your credit score is a critical element of securing a home loan.

Credit Score	Category	Likelihood of Approval
760 or higher	Excellent	Very likely
700-759	Good	Likely
621-699	Fair	Somewhat likely
0-620	Poor	Somewhat unlikely
None	N/A	Unlikely

State Farm Phone Number and Additional Details

Homepage URL: https://www.statefarm.com/finances/
Company phone: 877-734-2265
Headquarters address: 1 State Farm Plaza, Bloomington, IL 61701

 

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PennyMac Mortgage Rates Reviews: Today’s Best Analysis

PennyMac Loan Services, LLC was founded in 2008 with the stated goal of restoring America’s trust in homeownership through high-quality and consistent mortgage services.

The company is headquartered in California, but its home loan products are available to borrowers in all 50 states. PennyMac has quickly become one of the top mortgage lenders in the U.S. by offering a diverse range of mortgage products, including conventional and government-backed loans.

PennyMac Mortgage Facts

• Named #1 lender for USDA loans by U.S. News & World Report in 2018
• Accepts credit scores as low as 640
• Offers a wide variety of mortgage products, including fixed and adjustable-rate, FHA, VA, USDA, and jumbo loans
• Low down payment requirements for conventional and government-backed loans
• Fully accredited by the Better Business Bureau
• Private mortgage insurance required for down payments lower than 20 percent

Overview

PennyMac has only been in operation for 11 years, but in that short time, it has distinguished itself as one of the largest direct mortgage lenders in the country. PennyMac’s massive catalog of conventional and government-backed loans has helped it appeal to borrowers of all types, especially those looking to make low down payments.

Most of this lender’s home loan offerings can be obtained with as little as 3 percent down, though higher down payments can help lower interest rates and monthly payments. Moderate-to-low income borrowers can benefit from PennyMac’s flexible qualification guidelines, as it regularly accepts applications with credit scores as low as 620.

Although the Better Business Bureau fully accredits PennyMac, it has had over 300 customer complaints filed against it over the past ten years; its profile currently features a 1-star customer rating with many of the complaints mentioning poor customer service and payment processing errors. Most of PennyMac’s customers use their online account services to manage their home loans, which may account for the reduced response times to customer inquiries.

Current PennyMac Mortgage Rates

PennyMac Loan Specifics

PennyMac is a publicly-traded, national mortgage lender dedicated to providing personalized lending options for home buyers anywhere in the U.S., including conventional fixed and adjustable-rate, FHA, VA, USDA, and jumbo loans. This lender works with first-time homebuyers and repeat borrowers to secure affordable interest rates and flexible term options, though each mortgage offering has its specific qualifications. Many of PennyMac’s home loan products feature low down payments, making it an excellent choice for low-to-moderate-income borrowers.

Fixed-Rate Loans

This conventional loan option allows borrowers to lock down an affordable interest rate for the full loan term, offering exceptional long-term stability and predictable monthly payments. Qualified borrowers can secure a PennyMac fixed-rate mortgage with a down payment as low as 3 percent and can select from a loan term of 15, 20, or 30 years.

While private mortgage insurance is required for down payments below 20 percent, homebuyers can have it removed after reaching an 80 percent loan-to-value ratio. This mortgage type can be used to finance primary residences, second homes, and rental properties, making it a solid choice for borrowers who are looking to invest in their property over a long period.

Adjustable-Rate Loans

Homebuyers looking for the lowest short-term rates may benefit from this conventional loan option, which can keep monthly payments low for an initial fixed-rate period. Borrowers can secure a stable rate for the first 3 to 10 years of the loan term, after which the interest rate and monthly payment amount will annually adjust to the market index.

Much like its fixed-rate counterpart, this loan option can be secured with down payments as low as 3 percent. Homebuyers who are planning to move or sell their home within a few years can take advantage of the low starting rate and flexible loan terms.

Cash-Out Refinance Loans

This loan program allows borrowers to access the equity in their property to pay for home improvement projects, settle lingering debts, or cover other expenses they have accrued. PennyMac offers both fixed and adjustable-rate refinancing options with a variety of loan terms, allowing borrowers to consolidate their debts without being buried by high-interest rates. This refinancing option might be a good fit for responsible homeowners that have kept up with their mortgage payments and want to manage their debt through the equity they’ve built up.

Jumbo Loans

For more expensive properties, PennyMac offers both fixed- and adjustable-rate jumbo loans for amounts of up to $2 million. This loan option was designed to help support property purchases that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. To qualify, borrowers must have a credit score of 700+ and be able to make a down payment of at least 20 percent. Jumbo loans are great for luxury home purchases and can accommodate multiple types of properties, including 2-unit and vacation homes.

FHA Loans

This loan type was created to help low-to-moderate income borrowers and first-time homeowners secure affordable mortgage rates and is insured by the Federal Housing Administration. Unlike other home loan programs, an FHA mortgage has flexible credit score requirements and can be obtained with scores as low as 580. Typically, borrowers with higher credit scores are offered better rates, which translate to lower monthly payments. This mortgage option is well suited for homebuyers who are unable to make large down payments, as PennyMac accepts as little as 3.5 percent down to get started.

VA Loans

Eligible veterans and service members can take advantage of this no money down mortgage option backed by The Department of Veterans Affairs. Qualified borrowers can choose from several fixed-rate loan terms, including 15, 20, or 30 years. One major benefit of this home loan program is that it does not require private mortgage insurance, even on purchases with no down payments.

USDA Loans

PennyMac provides this 100 percent financing option to borrowers interested in purchasing a home in certain rural and suburban areas. This home loan program is insured by The United States Department of Agriculture and was created to help moderate-to-low income borrowers secure affordable mortgages in less-developed regions of the country. Eligible homebuyers can qualify for this program with no money down, though a credit score of 640 is required.

Investment Property Loans

Homebuyers looking to invest in single-family homes, condos, apartment complexes, and townhomes may benefit from this loan program, as it is tailored to the needs of borrowers who plan to remodel or flip properties for a profit. Down payment minimums are based on the specific property type, with vacation homes needing 10 percent down and condos requiring 15 percent. This loan program covers all types of properties, though certain debt-to-income guidelines may apply.

PennyMac Mortgage Customer Experience

As a direct mortgage lender, PennyMac is committed to helping all types of homebuyers tackle the unique challenges of purchasing a home and securing affordable interest rates. All of PennyMac’s resources are devoted to supporting the mortgage application and management process, as it does not maintain a large network of branches or banking products. Borrowers living in any of the 50 U.S. states can work with this lender to purchase, refinance, remodel or invest in their property of choice, though some restrictions may apply.

PennyMac features a massive catalog of educational resources on its website, including articles, FAQ pages, buying guides for first-time homeowners, and mortgage calculators. Interested borrowers can obtain personalized rate quotes, apply for pre-approval, or fill out a mortgage application entirely online, though, personal information like social security numbers are required.

PennyMac Lender Reputation

While PennyMac has only been in business for 11 years, it has quickly earned the distinction of being one of the nation’s largest online mortgage lenders. Pennymac currently has an A+ rating with the Better Business Bureau and has been fully accredited since 2014. Despite its accreditation, PennyMac’s BBB profile features a 1-star customer rating with over 385 customer complaints. According to 2017 complaint report from the Consumer Financial Protection Bureau, an average of 33 complaints are filed against this lender every month.

PennyMac is an Equal Opportunity Lender and was named as the #1 lender for USDA loans by U.S. News and World Report in 2018.

• Information collected on Jan. 23, 2019

PennyMac Mortgage Qualifications

Loan Type	Rate Type	Loan Terms	Down Payment Requirements	Credit Score Requirements
Fixed-Rate Loans	Fixed	15, 20, or 30 years	3%	620
Adjustable-Rate Loans	Variable	3 – 10 years	3%	620
Jumbo Loans	Fixed or Variable	30 year fixed or 5/1 ARM and 7/1 ARM	20%	700
FHA Loans	Fixed or Variable	15 and 30-year fixed or 5/1 ARM	3.5%	580
VA Loans	Fixed	15, 20, or 30 years	0%	620
USDA Loans	Fixed	15 or 30 years	0%	640

While most of PennyMac’s mortgage products have different qualification guidelines, most feature low down payments and flexible credit score requirements. Conventional mortgages usually require down payments of at least 5 percent, but PennyMac accepts as little as 3 percent down for both fixed and adjustable-rate loans.

Additionally, most lending institutions ask for credit scores above 680, but PennyMac is willing to work with borrowers whose scores are as low as 620. Homebuyers with little or no credit histories are encouraged to apply and may qualify for one of the many government-backed programs offered by this lender, though it is unclear whether PennyMac considers non-traditional credit information.

PennyMac’s biggest advantage is that it supplies a staggeringly diverse range of home loan and refinance options. Low-to-moderate income borrowers have a variety of available choices, and first-time homebuyers can secure affordable mortgage rates without emptying their bank accounts on a large down payment.

Although private mortgage insurance is required for down payments below 20 percent, PennyMac will work with homeowners to remove the charge once they’ve accumulated enough equity. Since this lender does the majority of its business online, homebuyers have around-the-clock access to their loan accounts and can reach out to a lending agent by email, phone, or through PennyMac’s contact page.

PennyMac Phone Number & Additional Details

• Homepage URL: https://www.pennymacusa.com/
• Company Phone:1-888-870-6229
• Headquarters Address:3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361

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Current CIBC Rates Reviews: Today’s Best Analysis

The Canadian Bank of Commerce was founded in 1867, while the Imperial Bank of Canada began in 1875. A century and a half later, the company is still in business. The two banks merged in 1961, and thus the Canadian Imperial Bank of Commerce (CIBC) was born.

One of the Big 5 banks in Canada, CIBC has a high profile and presence across North America, including the U.S. and the Caribbean, serving more than 10 million customers. CIBC Bank USA formally started operations in 2017, marking the lender’s most recent attempt to become a significant player in the American market.

While the bank has customers across all 50 states, it has a particular focus on the Midwest. For instance, private wealth management offices are located from coast to coast in Massachusetts, Texas, California and so on; yet CIBC’s ATMs and banking centers are only available in Illinois, Michigan, Missouri, and Wisconsin. The bank’s U.S. headquarters are located in Chicago.

CIBC has a full breadth of services and products including: bank accounts, credit cards, student loans, mutual funds, investment portfolios, travel insurance, business lines of credit, banking for indigenous persons, business succession planning, large corporate accounts, and international services.

Of most interest to would-be homeowners are the numerous mortgage products and resources the bank offers. While there is some difference in home lending options across borders, CIBC generally offers customers fixed-, adjustable-rate, and specialty mortgages. Borrowers on either side of the 49th parallel can take advantage of the online guides, calculators, videos, and other resources available on the bank’s website.

CIBC Mortgage Facts

• One of the Big 5 banks in Canada, it is the product of a 1960s merger between two banks established in the 19th century
• Expanded into American banking operations with a 2017 acquisition relaunch as CIBC Bank USA
• Serves customers across the nation, but has a more substantial presence in the Midwest
• Offers a wide range of personal and small-business banking services,
• Provides wealth management and commercial banking for industry customers
• Extends a variety of fixed-, adjustable-rate, and specialty mortgage products
• Has online resources for borrowers to consult, including a mortgage glossary and guidance on regulations

Overview

CIBC has operations across Canada and the United States, as well as in the Caribbean, providing 10 million customers with banking, savings, investment, and lending services. The bank has a long history, being the result of the merger between two Canadian banks started in the 19th century.

Having been in business for more than 150 years, CIBC has developed four strategic units: Canadian personal and business banking, Canadian commercial banking and private wealth management, U.S. commercial banking and private wealth, and capital markets. Alongside providing quality products and services, CIBC focuses on community investment, having contributed more than $60 million in 2018 to different organizations in the U.S. and Canada.

CIBC has an F grade with the Better Business Bureau. While the bank does respond to and resolve complaints, 22 in all have been settled in the last three years. The lender is not yet accredited by the BBB, though its file has been open since 2008. CIBC also has very low user reviews on Trustpilot. CIBC Bank USA, however, has A+ grade, having been under the CIBC umbrella since 2017.

Current CIBC Mortgage Rates

CIBC Loan Specifics

Borrowers looking for a home loan can find a number of options and mortgage rates at CIBC. In general, customers in any of the 50 states can get financing for a:

Fixed-rate mortgages

These home loans are ideal for borrowers looking to settle down for the long term. They feature fixed rates and flat payments throughout the life of the loan and are available on 30-year or 15-year terms. As payments are predictable and terms are longer than those of adjustable-rate mortgages, these loans might be ideal for homeowners who don’t plan to move around or have tight budgets.

Adjustable-rate mortgages

As opposed to having a fixed rate, these mortgages features a floating rate that changes with the prevailing market. The interest rate stays fixed for an introductory period, but then rises or falls on a periodic basis that is predetermined that could be once a year or once every six months, for example. The benefit of adjustable-rate mortgages is that interest rates for these products tend to be lower, yet rates can increase with market fluctuations after the initial fixed-rate period and hike up monthly payments in the process.

Specialty mortgage products

Home loans that suit niche borrowing needs are also available from CIBC. For instance, customers can pursue a construction renovation loan to finance a home makeover or a home equity line of credit for other financial needs. The bank also offers reverse mortgages, which are geared toward senior banking customers who can leverage their home to pay health care needs and other expenses in retirement.

EasyPath mortgage

This option comes with a low down payment requirement to make homeownership more affordable. There’s no private mortgage insurance and flexible underwriting standards apply.

Certain borrowers may look for government-backed loans, like those available from the Federal Housing Administration, the Department of Veterans Affairs, or the U.S Department of Agriculture. These loans usually come with more favorable terms for qualifying borrowers and are an option for those with insufficient credit or low cash flow. CIBC Bank USA does not publicize government-backed opportunities or jumbo mortgages for non-conforming home loans. It does, however, offer cash-out refinancing.

CIBC Mortgage Customer Experience

Borrowers have an easy route to a mortgage when working with CIBC, as they can view mortgage products, apply for a loan, and access other information resources online. CIBC Bank USA does not have as robust a resource library as CIBC’s Canadian homepage, but that doesn’t stop stateside homeowners from referencing educational materials featured on the latter.

U.S. borrowers will want to focus on how-to guides and advice content on subjects like first-time homebuyers, second homes, or what mortgage and what mortgage rate is best. Customers can, however, view the mortgage team at CIBC Bank USA and find contact information for those experts.

CIBC Lender Reputation

There is some concern when it comes to CIBC’s lender reputation in Canada, as the bank has an F rating from the Better Business Bureau. CIBC Bank USA, on the other hand, does have an A+ but has only been in business since 2017. The lender has closed 22 complaints against it in the last three years (as of early 2019) and is not accredited by the BBB. It has similarly low ratings from Trustpilot users.

Previous controversies have also affected this lender’s reputation. CIBC was involved in the Enron scandal, allegedly helping the company hide losses. As a result, it reached a settlement of over $2 billion to end a related class-action lawsuit. It has also run into trouble regarding customer privacy. The bank was previously investigated for a breach of sensitive information in 2007 and recently came under fire again in 2018.

CIBC Bank USA uses the NMLS identification number: 619817

• Information collected on Jan. 21, 2019

CIBC Mortgage Qualification

CIBC Bank USA does not disclose its rates or qualification standards. However, American borrowers can be sure that normal measures of financial stability and creditworthiness are in play. That means the bank will assess credit scores, debt-to-income ratios, and other requirements to gauge the risk in lending to a given borrower. For easy reference, here’s a basic table of how credit score figures into the decision.

Credit score	Category	Likelihood of Approval
760 or higher	Excellent	Very likely
700-759	Good	Likely
621-699	Fair	Somewhat likely
0-620	Poor	Somewhat unlikely
None	N/A	Unlikely

CIBC Phone Number and Additional Details

• Homepage URL: https://www.cibc.com/US
• Company phone: 877-448-6500
• Headquarters address: 120 South LaSalle St., Chicago, IL 60603

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Earnest Review | Student Loan Refinancing

If you feel that your credit score doesn’t tell your whole financial story, you’re not alone.

Many people feel frustrated by their inability to get good loan refinancing rates based solely on their credit score. The people at Earnest understand that.

Their goal is to help you get a good rate to refinance your student loan even if your credit score is less than perfect.

What is Earnest?

Earnest is a private lender that can help you refinance your student loans by offering lower-than-average rates and repayment flexibility.

Earnest refinances loans ranging from $5,000 to $500,000. You can apply for loan refinancing as early as six months before graduation through

Earnest if you have a job offer or consistent income. While Earnest does have strict underwriting criteria, they account for more than just your credit score.

This is ideal for borrowers who have good financial habits but may not have an established credit score yet.

Earnest incorporates your savings, earning potential, spending habits, and personal debt to determine your eligibility.

Users are also able to set their own monthly payment amount. Earnest also allows you to increase monthly payments, make multiple extra payments, and make same-day payments without penalty.

This can all help you pay off your student loan more quickly.

Learn More about Earnest

Who is the Ideal Earnest User?

Earnest is a fantastic refinancing option for students or parents with a good enough financial standing to qualify for a loan without a cosigner.

Individuals with credit scores of 650 or higher will have no problem qualifying for loan refinancing through Eligible.

If your credit score is below this, you will need to otherwise prove that you have good financial habits.

You will likely qualify for a loan if you have at least two months of income saved, are current on rent payments, and spend less than you make.

If you are carrying too much personal debt, you may not qualify for loan refinancing.

Private Student Loans

Earnest began offering private student loans earlier this year.

It is a good option for those who need additional assistance outside of their federal loans.

Although Earnest does not allow loan refinancing applicants to apply with a cosigner, those applying for a private loan may apply with a cosigner.

Should I Refinance My Student Loan Through Earnest?

It is always important to consider the advantages and disadvantages of a loan refinancing company before closing on an offer.

Below are some points to consider before closing a loan through Earnest.

Pros of Earnest

Personalized Monthly Payments

This perhaps one of the most unique aspects of Earnest. Known as their “precision pricing” model, this feature allows you to set what you would like your monthly payment to be and adjusts the loan term accordingly.

The loan term can be anywhere from five to 20 years.

Many other student loan lenders have set terms regarding repayment. Earnest’s precision pricing allows for unique loan periods that could help you meet your ideal monthly payments.

Skip one Payment Every 12 Months

If you make at least six months of consecutive payments on time, Earnest will give you the option of skipping a payment on your loan every 12 months. It is worth noting that the payment isn’t simply forgiven.

Instead, Earnest will spread out that payment over the remainder of your term and adjust your interest rate accordingly. The maturity date on your loan will also be extended.

It isn’t advised that you take advantage of this at every opportunity, but it can certainly help if money becomes tight at some point over the course of your loan.

Competitive Rates

Among its competitors, Earnest offers some of the lowest APRs around. Fixed rates begin at 2.49% APR, while variable rates start at 3.5%.

No Additional Fees

Earnest does not charge any late fees, prepayment penalties, origination fees, or application fees. This means that all payments will go towards paying off the remainder of your loan.

Services Loans In-house

One of the benefits of refinancing through Earnest is that they service all of their loans. Many loan refinancing companies will consolidate your loan and then sell that loan to another company.

This can mean a toss-up in regards to the service you receive on the loan.

With Earnest, you never have to worry that your loan will be serviced by a third party.

Visit Earnest.com

Cons of Earnest

No Cosigner

One of the most notable downsides of Earnest is that they do not allow borrowers to apply with a cosigner. This can be a problem for borrowers with below-average credit scores or unestablished credit.

Not Available in Every State

Unfortunately, Earnest loans are not available to borrowers in every state. They do not offer loan refinancing in Alabama, Delaware, Kentucky, Nevada, or Rhode Island.

Variable rates are not available to borrowers in Alaska, Illinois, Minnesota, New Hampshire, Ohio, Tennessee, and Texas.

Navient Ownership

It is worth noting that Earnest is owned by Navient. Navient is a student loan servicer that has been the target of several lawsuits regarding questionable servicing practices.

Earnest is run as a separate unit within Navient and continues to service their own loans.

It remains unclear the role that Navient plays in servicing loans taken out through Earnest.

How Do I Get Started With Earnest?

In order to get a rate, Earnest will perform a credit check. Earnest claims that their credit approval takes only two minutes, but there are some caveats to this.

Because Earnest takes a big-picture approach when it comes to your finances, this means verifying a lot more information than just your FICO score.

In order for Earnest to get a sense of your finances as a whole, this means lots of paperwork and information to verify.

Frustrating as it is, this could mean that you can get a lower rate than you otherwise would through another private lender.

Refinance with Earnest

What about Loan Deference or Forbearance?

In terms of deferment after graduation, Earnest will continue any grace period from your previous lender for up to nine months.

Earnest also allows borrowers to defer their student loans for up to 36 months if they are in pursuing a graduate degree, in the Peace Corps, or in the military.

Interest will continue to accrue during this deferment period.

Borrowers can apply for forbearance if they are experiencing economic hardship, such as unemployment or excessive debt burden. Voluntary resignation does not qualify as terms for unemployment and will likely be rejected as a reason for forbearance.

They will allow borrowers to put their loan into forbearance for up to 12 months. Earnest typically requires that borrowers make at least three months of loan payments before applying for forbearance

Like loan deferment, a forbearance period will continue to accrue interest. Any forbearance period will also be reported with credit agencies but likely will not affect your credit score.

Should You Choose Earnest?

Earnest is the only lender to offer low rates to people with average credit scores because of their expanded definition of financial well-being. This is wonderful news for people with credit scores in the mid-600s, but may not be the best option for those credit scores above 700.

Earnest certainly doesn’t offer the lowest rates on the market, which is why it is always wise to shop around before deciding on a company to refinance your loan. There are several tools to help you do this, such as Credible. Be sure to consider all options to ensure you are getting the best rate for your loan.

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Huntington Bank Review | Your All Time Banking Solution

Do you live in the Midwest?

Are you looking for a reliable banking solution for all your savings, credits, and deposit needs?

Huntington Bank offers all you need and so much more. It is a customer-centric bank with a lot of features and options for the modern-day banker. It caters for every possible banking need and provides a stellar customer support service.

It also provides one of the best twenty-four hours overdraft waiver facility of any bank.

Quick Guide To What Huntington Bank Offers:

• Savings Accounts
• Certificate of Deposit Accounts
• Money Market Savings Accounts
• Checking Accounts
• Retirement Planning Accounts

What is Huntington Bank?

Huntington Bank is one of the older financial institutions in the US. It was established in the year 1866 to serve residents of Columbus, Ohio. It’s currently owned by Huntington Bancshares Inc., which has over $74 million dollars in assets.

Over the years, Huntington Bank has expanded to cover the Midwest through its branches in Ohio, Kentucky, Illinois, Michigan, Pennsylvania, Wisconsin, and Virginia. It has more than a thousand branches and almost two thousand ATMs.

Some of its services include savings, credit, checking, and investments. It also provides loans such as home equity, mortgage, direct lending, and auto loans. There are also a number of insurance options available as well.

Huntington is a highly rated bank, having received Highest Customer Satisfaction with Retail Banking in the North Central Region by J.D. Power for the last five years straight. It offers flexible banking products for the customers that make it a favorite among many clients.

Huntington Bank Accounts Overview

Huntington offers several savings and checking account options. All of these enjoy a twenty-four-hour overdraft waiver, online bill payments, and account deposits throughout the day.

Savings Accounts

Huntington offers a few savings accounts that include:

• relationship savings, and
• premier savings.

These savings accounts provide clients with a plethora of options when they need to open a savings account.

Name	Minimal Deposit	Access	Security	Fees	Terms and Rates
Huntington Relationship Savings	$2,500	Online or mobile access, telephone access, and over the counter access.	FDIC insurance; maximum limit under the law.	3% foreign transactions, $3 Other ATMs, and $10 monthly service charge for $2500 unless linked to a checking account.	O.25% APY linked to a private client checking account, 0.20% linked to a 25 interest checking account, 0.15% linked to a 5 interest checking account, and 0.5% for balances on standalone saving account.
Huntington Premier Savings	$50	Online or mobile access, and over the counter.	FDIC insurance; maximum limit under the law.	$4 monthly charge unless linked with an asterisk checking account or maintaining a daily balance of $300.	0.2 APY

Huntington Relationship Savings Account

By itself, the Huntington relationship savings account does not have a great interest rate. This can easily be solved by linking the savings account to your checking accounts to attract more interest. It also has a high minimum deposit at $2,500.

One of the advantages of this account is the overdraft protection which guarantees you a twenty-four-hour overdraft waiver for your account overdrafts.

You can easily deposit into your account using an ATM or an account-account transfer. Its online mobile application is also great for monitoring your account and withdrawals.

Huntington Premier Savings Account

The Huntington premier savings account is a great alternative to the relationship savings account because a lower minimal deposit is pegged at $50. It allows you to enjoy all the benefits of relationship savings account without the pressure of large deposits.

To avoid a monthly $4 service charge, simply maintain a daily $300 account balance or link your account to your asterisk checking account.

Certificate of Deposits Accounts (CDs)

Name	Minimal Deposit	Access	Security	Fees
Huntington Certificate of Deposit	$1,000	Online or mobile access, bank branch	FDIC insurance; maximum limit under the law.	Only early withdrawal fee.

Terms and Rates:

Promotional Terms with Standard Rates:

• 1.5% APY for 11 months.

Fixed Term Rate Standard CDs.

• 0.01% APY for 1 and 3 months,
• 0.1% APY for 6, 9, 12, 18 months,
• 0.15% APY for 24 months,
• 0.2% APY for 36 months,
• 0.35% APY for 48 months,
• 0.5% APY for 60 and 72 months

Fixed-Rate Jumbo CDS,

• 0.01% APY for 7, 14, 30, 60, 90 Days,
• 0.10% APY for 180, 270, 365, 547 Days,
• 0.15% APY for 730 & 912 Days,
• 0.20% APY for 1,095 Days,
• 0.35% APY for 1,460 Day,
• 0.55% APY for 1,825 Days (5 years)

Unlike savings accounts, A CD allows you to keep your money in your account for a specified period of time. This allows you to gain more interest. The only downside of this product is that you are slapped with a penalty for any early withdrawals.

A standard CD has a minimum deposit of $1000 while a jumbo CD requires a minimum deposit of $100,000. Every CD account comes with a ten-day grace period for withdrawal before the CD is renewed.

Money Market Savings Account

Name	Minimal Deposit	Access	Security	Fees
Huntington Money Market Savings Account	No minimal deposit but $25,000 is needed to earn interest unless linked to checking account.	Online, mobile access, bank branch.	FDIC insurance; maximum limit under the law.	$25

Terms and Rates:

Introductory Interest Rate (180 Days)

• Balances of $25,000.00 to $2,000,000.99: 1.50%,
• Balances of $2,000,001.00 to $99,999,999,999.99: 0.25%,

Linked to the 5 Checking

• Balances of $25,000 to $2,000,000: 1.51%% APY,
• Balances of $2,000,001 to $99,999,999,999: 0.25% APY,

Linked to the 25 Checking Account

• Balances of $25,000 to $2,000,000: 1.51% APY
• Balances of $2,000,001 to $99,999,999,999: 0.25% APY

Linked to the Private Client Account Balances of $25,000 to $2,000,000: 1.51% APY

• Balances of $2,000,001 to $99,999,999,999: 0.25% APY,

With Other Checking Account

• Balances of $25,000 to $2,000,000: 1.51% APY
• Balances of $2,000,001 to $99,999,999,999: 0.25% APY

Huntington Money Market Savings Account

One main disadvantage with the Huntington Money Market Savings account is that it requires a huge opening balance of $25,000 to get an interest rate.

If you can’t manage the $25,000 opening balance or if you want to bump up your interests, you can link your account to any of your Huntington checking accounts.

Open a Huntington MMA

Checking Accounts

Name	Minimal Deposit	Access	Security	Fees	Terms and Rates
Huntington 25 Checking Account	$25	Online, mobile access, bank branch.	FDIC insurance; maximum limit under the law.	$25 or a $25,000 balance in Huntington Relationship Savings account	0.25% APY
Huntington 5 Checking Account	$5	Online, mobile access, bank branch.	FDIC insurance; maximum limit under the law.	$5 or a $5,000 balance in Huntington Relationship Savings account	0.15% APY
Huntington Asterisk Checking Account	None	Online, mobile access, bank branch.	FDIC insurance; maximum limit under the law.	None	None

Huntington 25 Checking Account

The Huntington 25 checking account is the bank’s premium checking account that attracts a 0.25 APY. You also have access to your money everywhere you go with its out-of-network ATM waivers.

Huntington 5 Checking Account

The Huntington 5 checking account, on the other hand, gives you a 0.15 APY, with a small $5 monthly service charge. You can access five out-of-network ATMs with their waiver.

Open an H5 Account

Huntington Asterisk-Free Checking Account

The simplest checking account by Huntington Bank is the Huntington Asterisk-Free Checking Account with no opening balance and no monthly maintenance fee. It also excludes interest.

Open an Account

Retirement Planning Accounts

Name	Minimal Deposit	Access	Security	Fees	Terms and Rates
Huntington IRA CDs	$1,000 for CD	Online, mobile access, bank branch.	FDIC insurance; maximum limit under the law.	No monthly service charge but can attract IRA early withdrawal.	IRA

Huntington Bank allows you to set up either a traditional or a Roth IRA that guarantees you a tax-free retirement withdrawal.

Huntington Bank’s Presence

Huntington Bank has a record 1,800 ATMs spread across the Midwest. It has more than a thousand active branches allowing you to bank conveniently.

With its website and mobile app, you can perform all your traditional banking operation at your convenience and comfort. You can make transfers, check balances, make payments, creating alerts and notifications for your accounts.

Creating a Bank Account with Huntington

Creating a bank account with Huntington is as simple as logging into their website with your social security number and government-issued ID. You might need to provide some personal information and a few electronic documents, but in no time, you will be good to go.

Alternatively, you can visit a branch and get yourself a ready-to-use account from one of their professional customer support agents.

Is Huntington Bank For You?

Huntington Bank is a great choice for anyone looking for a checking account. It has some impressive options with low monthly operational fees and great interest rates.

It also has great twenty-four-hour overdraft protection facility that ensures you don’t get unnecessary penalties.

One of the drawbacks of using Huntington is that their interest offerings are relatively low for the savings accounts.

Linking the checking and the savings accounts is the only way you can actually boost your interest rates.

If you are based in Ohio or the Midwest and are looking for a complete banking solution, this is the best bank for you.

You can take advantage of their mobile application and online presence to take more control of your finances and pay your bills more conveniently.

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9 Smart Moves That’ll Help You Raise Your Credit Score

18 Simple Financial Things I Wish I’d Done (or Started Doing) When I Graduated from College

When I graduated from college, I had moderate student loan debt and a small amount of credit card debt, but I had a solid job lined up and big dreams of establishing a strong financial foundation.

Four years later, I was married with a kid, tons of credit card debt, a car loan, additional other loans, an expensive lifestyle, and a financial situation so precarious I couldn’t keep the bills paid.

What happened? I started my life in the adult world without good financial practices and principles and that quickly led to a difficult financial situation.

I don’t look back with regret, but I do look back at those days and ask myself, “What did I mess up? What do I wish I had done differently?”

This is a list of eighteen simple things I’d change. These aren’t huge, life changing choices – a few of them might be for some people, but for most college graduates, everything on this list can easily be handled without disrupting the flow of life in one’s twenties.

I would love to send this list to every single person graduating from college as advice from someone who went through this, made a lot of avoidable mistakes, and came out on the other side.

Back then, I did actually manage to do a few of these things and they were positive things in isolation, but they were like stars on a dark night – tiny blips of light surrounded by the darkness of financial mistakes. The steps below all work in concert to create a strong financial backbone, and if you leave out most of them, you’ll still find yourself struggling financially and professionally. They synergize with each other in a powerful way.

Let’s dig in. Here are 18 simple financial things I wish I had done all together upon graduating from college.

Sign up for a 401(k) (or similar account) with a generous automatic contribution. This is the most important smart thing I did do, and I wish I had done it even bigger than I did. Looking back, it did not have any sort of negative impact on my standard of living, but what it did do is add a whole lot to my sense of financial stability now (fifteen years later or so) and going forward for the rest of my life.

The first day you start at your first post-graduation “real job,” go in and find out what their retirement plan is like. Do they offer a 401(k), 403(b), or a similar plan? Contribute to it, and make that contribution a nice healthy one. If they offer any kind of matching, you should be contributing more than enough to get every dime of it.

If your workplace doesn’t have a 401(k) or similar account, as soon as you get your first (or second) paycheck, open up a Roth IRA account on your own. It serves the same purpose as a 401(k), except that it withdraws cash from your checking account rather than right out of your paycheck. Set it up to automatically slurp out a certain amount or, if your workplace allows it, set it up to automatically pull money from your paycheck before you ever receive it. (I recommend signing up through Vanguard, Fidelity, or Schwab, all of which are great companies.)

Cook almost all my meals at home. I got into a very early habit of simply not eating many meals at home. I’d stop at a coffee shop for a big cup of coffee and usually a bagel. I’d eat lunch out with coworkers. I’d go out for supper almost every night with my wife. On the weekends, I’d usually skip breakfast, eat lunch out and about, and maybe make supper at home one of the weekend nights, like it was a big deal. One meal a week eaten at home wasn’t uncommon at all.

The problem with this routine is that it’s incredibly expensive. Meals eaten outside the home very commonly jump above the $10 mark, even for simple stuff. Meals I make at home these days often go below the $2 mark, occasionally below the $1 mark, and only approach the $10 mark if I’m making something very exceptional.

Total that up over the course of just a month. Let’s say Sarah and I started cooking at home instead of eating out and cut the price of an average meal from $8 to $4. Three meals a day, times two of us, times thirty days, times $4 saved per meal, gives us $720 a month. That’s a huge financial impact. Even for a single person, this is a $360 a month difference.

Shop for groceries with discount meats and vegetables as the starting point for my grocery list and meal plan. Back then, if I did go to a grocery store, I went in there with a vague idea of needing some beverages and snacks and some nebulous outline of one or two meals in my head. I inevitably filled my cart with a bunch of impulsive stuff I didn’t need, an excessive amount of items for those two meals I had in mind, and some duplicates of things I already had in the cupboard at home. I’d spend $80 or whatever and come home with some snacks and enough food for maybe two meals, and I spent a lot of time in there just wandering around rather aimlessly.

Now, I have a much better practice. I download the grocery store flyer from the grocery store’s website (and the grocery store I go to is a discount one – I checked a bunch of stores and stuck with the one with the cheapest default prices near me). I look at the on-sale produce and meat items. From that, I make a meal plan – a list of meals for each day that includes those ingredients. I then make a grocery list that includes those on-sale ingredients and everything else I need to make those meals. I then check the cupboards and make sure there’s nothing else I need, and if there is, I add it to the list. When I head to the store, the list has everything I need, so I just focus on that and largely ignore the other stuff on the shelves, which means a lot fewer unnecessary food items wound up in the cart, saving me both pounds and money. Plus, with a list, I spend a lot less time in the grocery store.

Establish healthy normal dietary patterns. In other words, I would start eating a diet that’s low cost, relatively low calorie, and based more on vegetables and fruits than on meat and dairy.

This does not mean abandoning all foods you like. It just means that for most meals that aren’t special occasions, stick to relatively healthy meals that are mostly vegetables and fruits. Make those kinds of meals your “default” and less healthy ones into “treats” or “special occasion” meals.

Not only are simpler plant-based meals less expensive, they’re going to have great health outcomes for you over the long term. Do this consistently during your adult life and you’ll feel healthier and energetic for much longer and avoid serious health problems until much later in life. Plus, you save money along the way.

Take leftovers to work each typical day. Unless there’s something special going on at work, aim to take leftovers to work with you each day for lunch. One good practice is to try to find other people who also do this and eat lunch with them. Is there a break room or a lunch room at your workplace? Find it and aim to eat there so that you can eat while also building professional networks.

If most of your opportunities for eating with coworkers involves eating out with them, do that sometimes, but don’t make it a daily routine. Instead, pencil it in once or twice a week and view the expense as one that’s more about building professional relationships than about the food.

This is just an extension of the previous idea of making low-cost meals based around fruits and vegetables the center of your life. This will save you money and will almost always be healthier than what you might otherwise eat.

Again, this doesn’t mean that every meal has to be “miserable.” Find fruits and vegetables you like. Try lots of things and figure out what you enjoy. Have a lot of variety in your meals.

Intentionally put aside a portion of my work day for skill and knowledge building, and another portion for professional network building. This might seem nearly impossible when you’re really crunched at work, but the time invested needs to be a routine part of your day or you will fall behind in your field and your career path. Take at least some time each day – maybe an hour for each – and devote that time to skill/knowledge building and networking.

Ideally, you find time for this during your workday, as these are tasks that are very helpful in the workplace and improve your value as a worker at your current job (while, of course, also helping your long term career). Do your best to block off time for these things at work. However, if necessary, it’s okay to do these tasks outside of the workplace. The key is to make sure that these tasks happen each and every day.

Skill and knowledge building is all about building the skills you need to stay up to date with your field at your current position as well as acquiring knowledge and skills needed at your next few positions. Know what you need to know and be able to do for your next job or two and start learning that stuff now. This may end up eating more than an hour a day if you need certifications and additional classes. Make time for this. It will make it easy for the people at your next job to hire you.

Network building is all about building connections to people in your field at your current level and in positions where they may hire or promote you. This also includes finding mentors at levels far above you. Social media helps with this – be as helpful and professional as you can on there with a healthy dollop of personable, and try to get to know lots of people individually. Professional meetings and conferences are also powerful opportunities for this. Local meetups are great. Any time you get a chance to present, particularly outside your organization and particularly to peers, is fantastic. Take advantage of all of those things. Build a huge list of people you know in your field, then take the time to regularly keep up with those people. It’s so valuable!

Get involved in social scenes and communities that involve your actual personal interests and passions. One of the big challenges that people often face after leaving school is what to do with their free time. Some people just continue to repeat the things they did in college. Others dive into what they perceive they “should” do in their twenties due to media influence and dive into the bar/club scene. Still others hole up at home out of uncertainty and introversion.

The thing all of those people should be doing is to think about the things they’re most passionate about and interested in, find outlets for those things in their community, and get involved with them. This allows a person to start building social relationships based on actual common interests.

I didn’t do this particularly well after college. I mostly wound up going out for drinks a lot with people I didn’t have a whole ton in common with and then otherwise holing up at home doing the same things I did in college. It took me several years to really figure out the things I was interested in and passionate about and then go out into the community to find groups and communities that matched those interests.

If you live in a smaller city or town, you have to start with the options available to you. Start looking at Meetup, the city website, the local library, local newspapers, and so on to find out see what’s going on around you and dig into the ones that seem the most exciting to you.

In large cities, there are often meetups and events for everything you might be interested in, so start by thinking about the things you’re interested in and passionate about and then use those things to instantly filter the options available in your community using those same tools listed above.

The goal here is to find outlets for the things you find most meaningful and to meet people who also find those things meaningful.

Do something in the community or in those social scenes most nights (after dinner, of course) and on weekends. This is the recipe for building meaningful friendships and relationships as an adult, as far as I can tell. Without the social structure of school or college around you, it is rather tough to build friends that are more than just professional colleagues. You simply don’t have the structure around you that makes it easy to make friendships, so you have to make that structure a part of your life.

This means that, once you start finding those groups that are associated with meaningful things in your life, you dive into those groups and fill your social life with them, building friendships in all of those different groups and spheres.

Again, I didn’t do this until much later after college. I invested my social time into the bar/club scene, which never really clicked with me but felt like the thing I should do, and balanced that with solitaire hobbies at home. This left me, about five years after college, with one meaningful friend (besides my wife) in the area.

After switching over to following this recipe, I now have more friends in my life with overlapping interests than I’ve basically ever had, even when I was in school. I’ve had dinner parties that overflow the reasonable capacity of my home and I’ve had to cut lots of friends from the list just to make it even work. To compare that to where I was a few years after college is unbelievable, and the recipe was to figure out my interests, get involved in the community in line with those interests, and build friendships there.

Live with roommates while still single (or even when you’re not). Cohabitation is the key to keeping costs low early in your career. If you have a roommate, your costs for rent and utilities are halved. If you have two roommates, it’s cut by two thirds. It’s as simple as that. The financial benefits are enormous.

If you take the money you’re saving from this and channel it toward student loan debt, car loan debt, saving to buy your own home, or simply getting by while also being able to contribute to retirement, you are building a huge financial advantage for yourself.

Even better: if you can, buy a home for yourself and rent out part of it. That way, the rent income from other tenants in the house goes toward the mortgage, effectively enabling you to start building equity in the house much quicker. The renter is effectively paying a large portion of the mortgage interest.

Borrow items instead of buying them. There is a temptation when you have at least some regular income to simply buy things you need or strongly want. “This is something that is highly useful right now. I’ll go to the store or to Amazon and just buy it.”

That’s a bad routine to get into. Rather, think of such situations this way: “This is something that is highly useful right now, but will I really use it again with any frequency after I use it once? If I’m not absolutely certain of it, maybe I can just borrow it for this one use. I can always buy it later if it turns out that it’s a repeat-use item. Where can I borrow this from?”

Check out books and movies from the library. Borrow tools from a neighbor or a friend. See if your local parks and rec department rents or loans out sporting goods or camping equipment.

If you do have to buy something, look for it secondhand first. You can always invest in a top-of-the-line model as a replacement if you come to realize that you use this all the time, but you usually don’t know if you will or not and thus investing a lot of money into that initial purchase is a bad financial move.

Let go of the need to “impress” others by buying expensive stuff and name brands. Stop caring what other people think. All you need to do is present yourself reasonably well to the world – clean, not dressed in rags – and you’ll avoid 99% of negative impressions. Furthermore, the things you buy very, very rarely result in positive impressions. What usually does is friendliness and good conversation and good character. No one is going to become a great friend to you because of your car or your gadgets or your clothes. You might get a glance from someone, but it’s absolutely silly to chase a glance with huge sums of money. (The exception to this is professional situations where you’re trying to exploit that glance, such as being a salesperson.)

Practice good hygiene. Wear decent clothes that aren’t worn out. Keep yourself in good shape. If you do that and couple it with being reasonably personable, that’s really all you need.

I spent so much money trying to impress people after college, thinking this would win me relationships and social cache. It was a complete and total waste of money. I built relationships and social cache by having shared interests with people and being friendly and helpful.

Buy store brand toiletries, food staples, and basic items. Almost all of the “staples” you buy for your home and kitchen should be store brand items, and you should only move up from there if there is a clear reason why a store brand item isn’t getting the job done for you.

Buy store brand hand soap and dishwashing soap and sunscreen and laundry detergent and hand sanitizer and trash bags and so on. Buy store brand flour and sugar and cereal and milk and eggs and so on. Most of those items are functionally identical to the name brand, and in the cases where there are differences, you’ll scarcely notice. It’s just a guaranteed way to save.

Get in the store brand routine and stick with it.

Establish a firm daily exercise routine. This serves a ton of different purposes in your life.

First, exercise has enormous long term health benefits. If daily exercise is part of your life, you’re delaying and avoiding tons of health care costs and pain in your life.

Second, an exercise routine is an easy way to feel better. You simply have more energy. Your body is healthier and feels better and probably looks better (especially if you exercise daily over a long period of time). You feel proud of your exercising efforts.

Third, it’s an extremely low cost hobby to have. It costs nothing to identify a good stretching and bodyweight routine you can do at home. Try doing the Darebee Workout of the Day and couple that with a good stretching routine and some walking and bicycling. It’ll cost you nothing and really help.

Obviously, exercise can be expensive if you join a gym or start an exercise class, but start off trying those things and see how it goes.

Gradually move toward “dressing well” by harvesting the best of Goodwill and secondhand shops. I invested a ton of money in clothes when I first entered professional life. What I really should have done is bought a very small set of high quality clothes that mixed and matched well and then spent time finding high-quality items at secondhand stores to add to that roster.

Don’t know how to do this? Check out Project 333, which is a challenge to live with a 33 item wardrobe for 3 months. The site gives tons of tactics and principles for doing this that work really well, and then you can keep going with them.

Finding high quality items in secondhand stores is surprisingly easy if you’re willing to dig through a lot of lower quality items to find diamonds in the rough. I often find basically new clothes in secondhand stores for a tiny fraction of their price – well made stuff that will last and last and last.

Avoid buying a car until absolutely needed and use mass transit as much as possible. You may already have a car, and that’s great. If you do, keep driving it until it’s ready to fall apart before moving to a new one.

If you don’t have a car, make it your goal to rely on your feet, your bicycle, electric scooters, and mass transit until you absolutely have to switch away from that.

Cars come with tons of minor costs that are overlooked. You have the car payments. You have the fuel costs. You have the maintenance costs – oil changes and so on. You have insurance. You have repair costs. You have registration costs. You have parking costs. All of that, and your car still depreciates rapidly.

If you can possibly avoid that money trap, do so.

Build an emergency fund. An emergency fund is simply a pool of cash you have in a savings account that you can tap in an emergency, like a job loss or a car accident or a medical issue or urgent travel or something like that. I usually encourage people to have at least a month’s worth of living expenses in an emergency fund, and not to rely on a credit card for emergencies because a fair number of emergencies take away your credit cards (like identity theft or natural disasters).

The easiest way to build this – and it’s something I recommend everyone do the second they have a decent-paying job – is to set up an automatic transfer from their checking to their savings account that scoops a small amount of money from checking every week and puts it in savings. Make it $20 a week or $50 a week. After a year, that adds up to $1,000 or $2,500.

Then, only use that money in a true emergency. Leave the transfer running forever – never turn it off. After a few years, you’ll always have emergency funds to tap, and that means that a sudden job loss or another emergency doesn’t instantly mean financial apocalypse or massive credit card debt in your life.

Pay off all credit cards in full each month. If at all possible, avoid carrying any sort of credit card balance from month to month. You may have to do this a little if you’re paying down pre-existing credit card debt, but if you have that, you should be paying it down as fast as humanly possible and that should be your main financial priority (after saving for retirement and putting a bit in your emergency fund).

The purpose of all of the other advice in this article is to enable you to have the available funds to both pay off credit cards (and keep them paid off) while having an enjoyable life in your twenties. If you’re struggling to be able to get rid of credit card debt at this point, it’s a sign of some kind of overspending or else you’re living in a high cost of living area with a low income job. If it’s the former, look carefully at every dime you’re spending. If it’s the latter, find a lower cost area to live.

Aggressively pay off student loans. If you’re contributing to retirement, trickling money into an emergency fund, and have no credit card debt, start aggressively paying off your student loans. Make double payments or triple payments if you can. Get that weight off from around your neck.

The faster you pay off a loan like this, the less total interest you’ll pay over the loan’s lifetime, plus the faster you’ll reach a point where it’s paid off and you have fewer monthly bills that need to be covered. The faster you get to such a situation, the better.

The same is true for any other loans you have, like car loans. Get rid of them as quickly as you can, and then the world becomes your oyster.

Don’t rush to get married and have kids. My final point of advice is simply a practical one: there’s no rush to get married or to have children, even if you want to. In fact, there’s some real advantages to waiting.

The reality is that marriage takes a real time investment to keep it strong, and children take even more. Children require a huge financial commitment, too, and although marriages can definitely help with expenses in some ways, there are also often expenses that come along with marriage (like a wedding, for example).

In your twenties, there’s a ton of value in getting rid of debts and getting a lot of money into your retirement accounts where it’ll have 30-40 years to grow with the power of compound interest. There’s also a lot of value in devoting plenty of time and energy to building adult friendships and relationships, establishing your career, and building your skills. Marriage and especially parenthood take away from all of those things. Plus, the more time you give to ensuring that you’ve found the right person means that it’s more likely that your relationship will really last.

I’m not saying that one should never get married or never have kids. I’m simply saying there’s no rush and there are many benefits to waiting until you’re in your thirties to take those steps.

Final Thoughts

I truly wish I had followed this template in my twenties. I made so many financial and personal and professional missteps in the years after college that they overshadowed the things I did right.

I don’t look back with regret. The mistakes led me to the life I have right now, and I’m happy with that life. I just know that I got fairly lucky to get to where I am, and I also know that making these good choices in my twenties would have increased the odds of winding up in a good life right now.

That’s really what these strategies are all about: they’re about increasing the odds of having a great life throughout the rest of your entire life without sacrificing the fun and freedom that comes with being a young professional. The way to that fun and freedom doesn’t come from opening your wallet, though so much of the media and social pressure can make it feel that way at times. Find your own path without spending money on forgotten things. You will never regret it.

Good luck.

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Wintrust Mortgage Rates Reviews: Today’s Best Analysis

Wintrust is a mortgage provider that emphasizes community values in its efforts to support affordable housing and provide a service-oriented mortgage experience. The bank was founded in 1991 and operates primarily in the Chicago area.

Over the years, Wintrust has developed a strong reputation for investing in communities and getting involved with local organizations. This was recently headlined by a program to provide $40 million in below-market-rate mortgages in partnership with the Chicagoland Habitat for Humanity organization.

The lender focuses on personal interactions, but still provides tools for you to explore mortgage options online. It offers a wide range of loan options, including conventional loans and access to federal and community programs. Once you’re interested in the bank’s loan options, it can work with you to connect you with the right loan based on your financial situation and goals.

Wintrust Mortgage Facts

• Operates as a community bank primarily in what is considered the Chicagoland region
• Recently expanded into new markets, particularly Massachusetts and California
• Works with a wide range of community organizations to provide mortgages focused on affordable housing
• Provides access to several federal loan programs, including FHA, VA, and USDA loans
• Is fully accredited by the Better Business Bureau with an A+ rating.
• While not an alternative lender, the bank works to function in a way that is distinct from big banks by focusing on personal, community-driven experiences

Overview

Wintrust Financial was founded in Chicago in 1991 and has grown into a mortgage provider heavily focused on making homeownership accessible. With a wide range of loan options, Wintrust is a natural fit for first-time homebuyers, especially as the lender works to offer a particularly personalized experience.

Current Wintrust Mortgage Rates

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Wintrust Loan Specifics

Wintrust’s mortgage products are heavily focused on giving home buyers as many options as possible to help them find a solution for their specific needs. To this end, the lender offers a fairly robust collection of standard home loans, including fixed- and adjustable-rate mortgages. On top of this, the lender connects with regional and community organizations to offer specialized loans and works with federal agencies to provide a variety of mortgage options.

With so many options on hand, Wintrust is a particularly natural match for first-time homebuyers who want to explore all of their options and get help along the way. That said, the lender does offer a few products aimed at those at other stages of the home-buying process. Wintrust mortgage rates aren’t advertised online, but the loan types available include:

Fixed-Rate Mortgage: Wintrust offers fixed-rate mortgages – loans with a constant interest rate over the life of the mortgage – available in 10, 15, 20, 25, and 30-year terms.

Adjustable-Rate Mortgage: The adjustable-rate mortgage from Wintrust can be configured to operate at a set rate for one, three, five, seven, or 10 years, after which the rate will adjust based on a lending index.

Conventional Mortgage: The lender offers conventional loans that are not guaranteed or insured by a government agency. This option is generally configured as a fixed mortgage.

Federal Housing Administration Mortgages: The FHA offers a program that backs loans with government funds, reducing the risk that lenders take on. This allows the loan to come with lower rates and fewer qualification requirements than typical mortgages. Wintrust offers general FHA loans as well as the FHA 203K Limited and Standard mortgages, which are designed to be used for both the cost of properties and renovations that buyers want to complete once they own the home.

Jumbo Mortgages: Jumbo loans are designed for amounts of money that are larger than a typical conforming mortgage. This figure currently stands at $453,100 but can vary depending on the state. Jumbo loans typically require larger down payments and a particularly strong credit history.

VA Mortgages: Wintrust also provides access to loans backed by the U.S. Department of Veterans Affairs, including standard VA loans that are available without a down payment required.

USDA Mortgages: The U.S. Department of Agriculture runs a Guaranteed Rural Housing Loan Program for those seeking affordable homes in rural communities. These mortgages tend to come with lower interest rates and waiving the need for personal mortgage insurance.

Construction-to-Permanent Loans: If you’re looking to build a home on a parcel of land, Wintrust offers a mortgage structured as a fixed-rate loan that can function as an all-in-one mortgage to cover the entire project.

Second Home Loan: While many of Wintrust’s mortgages are designed for those seeking accessible options for home-ownership, the lender also offers a mortgage product designed for investment properties or second homes. These loans can be designed to treat current assets as income sources when calculating rates and qualification requirements.

Wintrust Mortgage Customer Experience

Wintrust is heavily focused on providing a personalized, service-intensive lending process. You can initiate some aspects of your mortgage application online and use the lender’s Wintrust ZOOM application to interact with the lender. However, filing a complete application and getting a quote requires interaction with the Wintrust team.

While Wintrust ultimately wants borrowers to work directly with them to identify the right loan for their needs, the lender does offer a wide range of resources to help those looking for a mortgage understand what they’re considering. These include:

• Calculators for a variety of cost types and credit scores
• A glossary of key terms used through the mortgage process
• Content detailing various elements of obtaining a mortgage and managing the loan
• Details on down payment assistance programs and special loan programs available from local sources

Wintrust emphasizes a close relationship with the communities it serves, something that comes out in its mortgage process. By maintaining close ties with communities and a highly personal lending process, the mortgage provider is particularly well suited for homebuyers who want to be able to talk openly with their lender and get help finding the best possible loan.

Wintrust Lender Reputation

Wintrust is a traditional community bank, but with an extra emphasis on personal service. It was founded in 1991 with the intent to provide a robust alternative option relative to how big banks operate. The organization still works with a heavy focus on local service, so it doesn’t get a great deal of national attention.

That said, the Better Business Bureau accredits the Wintrust Financial Corporation with an A+ rating. There have been few complaints made against the organization, with seven complaints closed in the last three years and two in the past 12 months.

Wintrust’s reputation also received a boost in 2017 when it solidified its position as a community-focused organization operating in the Chicago area. According to the Chicago Tribune, the regional branch of Habitat for Humanity was working on getting out of the mortgage management business so it could focus more heavily on building homes to meet key needs. Wintrust partnered with Habitat to provide $40 million in below-rate mortgages to help promote the goal of affordable housing.

Wintrust Mortgage Qualifications

Wintrust’s emphasis on personalized, community-driven lending process is focused on helping to match borrowers with the right loan for their needs. As such, qualification requirements for their loans aren’t widely publicized as the lender appears to be more geared toward working with you to find a loan fit than helping you search through options on your own and try to figure things out.

While specific qualification details are widely available, here are a few key attributes to keep in mind:

Special requirements for access to a loan

Down payment required

Community-specific loan options

	Special requirements for access to loan	Down payment required	Community-specific loan options
Conventional loans	No	Yes	No
FHA and USDA loans	Yes	Variable	No
Affordable Housing Loans	Yes	Variable	Yes
VA loans	Yes	No	No
Jumbo loans	No	Yes	No

Wintrust provides a wide range of options for borrowers, putting a strong emphasis on making homeownership accessible to as wide a range of buyers as possible.

Wintrust Phone Number & Additional Details

Homepage URL: https://www.wintrustmortgage.com/

Company Phone: 800-999-2649

Headquarters Address: 9801 W Higgins Rd, Rosemont, IL 60018

 

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