Understanding Escrow Before Buying a Home
Everyone dreams of owning their own home and most people can’t wait to say goodbye to renting. It’s important for you to know that when you purchase a home and obtain a home loan, it’s likely that your lender will require you to have an escrow account. And, maybe you’ve already heard this term, but…
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Closing Costs When Buying a Home
Closing costs are fees and charges due at the closing of a real estate transaction that are in excess of the purchase price of the property. Both buyers and sellers are subject to closing costs and associated fees from the sale of the home. How much you’ll pay in closing costs depends on the price…
The Benefits of Direct Deposit
Direct deposit is generally referenced as the electronic transfer of money owed to you or being paid to you directly into your bank or credit union account. Direct deposit is most often used for your reoccurring paycheck from your employer, but it can also be used by other depositors such as Social Security, retirement plan…
What does EFT and ACH Transactions Actually Mean?
ACH and EFT are terms used in banking to describe the electronic or digital movement of money. So let’s start with the basics: ACH stands for Automated Clearing House and is basically the process of moving funds from one bank to another. EFT stands for Electronic Funds Transfer and is used to describe virtually all…