Everyone knows how important it is to regularly put money into savings, but research shows that 25% of Americans have no emergency savings at all.
3 min read
Simple Steps to Start Saving
By Wasatch Peaks on January 19, 2021
Topics: Budgeting Financial Planning Savings Checking Account
2 min read
HELOC vs Cash-out Refinance
By Wasatch Peaks on January 16, 2021
HELOC
A home equity line of credit, commonly referred to as a HELOC, is a line of credit that allows you to tap into the equity of your home to access those funds. Similar to a credit card, you can borrow funds up to a set limit throughout the “draw period” or set time limit. These funds can be used to consolidate loans, pay off other debt, home improvement projects, and more.
Topics: Budgeting Home Tips Mortgage Loans
3 min read
How To Calculate Auto Loan Interest
By Wasatch Peaks on January 15, 2021
What is an interest rate?
Let’s start first with the basics of understanding what an interest rate is. The interest rate is the rate at which a lender will charge for you to borrow the funds from them. This rate is a percentage of the loan amount, so the amount you pay in interest will be based off the principal balance of the loan.