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Insider Tips on Homebuying from Actual Lenders

Homebuying can vary from person to person. Whether you’re a first-timer or an old pro, the market can change, your financing options can change and your budget can shift from home-buy to home-buy.

Best to leave it to the pros—here are five homebuying tips from Sioux Falls Federal Credit Union’s (SFFCU) own lenders.

Categories: Personal

Buying Again? Tips for Homebuying a Second Time

There are many factors to consider when you decide to purchase a new home—even the second time around. Whether you want to move to a neighborhood you’ve had your eye on or you’re looking to stay within a certain school district, finding the perfect home in today’s market can be a challenge.

Here are a few items to consider before you decide to make the move.

Categories: Personal

The Pros and Cons of Buying a New vs. Pre-Owned Home

Buying a home is a decision that can be exhilarating and scary at the same time. When researching the advantages or disadvantages of buying a new, versus a pre-owned, home, make sure you weigh your personal needs first. 

Some buyers have had several homes before settling on the one home that makes them happy for years to come.  For those buying their first home, what factors into their decisions will vary—and rightly so, as everyone’s situation is a little different. 

Here are a few of the pros and cons of buying new versus pre-owned homes.

Categories: Personal

4 Questions You Should Ask Your Mortgage Lender

Obtaining a mortgage can often mean keeping track of a lot of moving parts. Whether you have experience in home purchasing or not, you may already know to ask your lender about interest rates, closing costs and how much you are eligible to borrow through a pre-approval. 

But even seasoned buyers may not remember some key parts of digging a little deeper. Here are four key questions homebuyers often forget to ask their mortgage lenders: 

Categories: Personal

Night of Hope and Caring

Night of Hope and Caring

On Saturday, March 25th home game, the Sioux Falls Storm will be hosting a special NIGHT OF HOPE & CARING.  Sioux Falls Federal Credit Union is proudly teaming up with the Sioux Falls School District, Sioux Falls Storm and KSFY-TV, for an event that is going to "Level the Playing Field" for every Sioux Falls Elementary Public School with fundraising needs!

There are several ways businesses and individuals can help support this unique fundraiser:

  • Purchase Game Tickets for your workplace, family or have the Storm donate them to school children
  • Pledging a monetary donation for every Storm Touchdown scored
  • Help sponsor a game-night activity
  • Help sponsor a special sports memorabilia item
  • Consider donating a Silent Auction Gift.

To help support or contribute to this fundraiser, please contact Jim Loria from the Sioux Falls Storm.
Phone: 605.610.5902
e-mail: jim@siouxfallsstorm.com

Categories: Business, Community, Credit Union Info, Personal

How to Pick a Mortgage Lender: Avoiding the Gimmick

How to Pick a Mortgage Lender: Avoiding the Gimmick

As the housing competition heats up, mortgage lenders will likely ramp up efforts to get their hands on your mortgage, using all types of pitches and gimmicks to separate themselves from the crowd.

But keep an eye out – a gimmick can often mask the true facts of the matter. A mediocre mortgage is still mediocre even with some window dressing.

Categories: Community, Personal, Sioux Falls Fed Culture

Buying a House With Student Loan Debt: Here’s How to Do It

Buying a House With Student Loan Debt: Here’s How to Do It

For many consumers, buying a house is a major financial and life milestone. However, student loan debt is preventing some millennials from making home purchases.

According to a Student Loan Hero survey, 41 percent of college-educated Americans with student loans have postponed buying a home because of their debt.

Having student loans won’t keep you from buying a house, although you should be comfortable with the idea of taking on a large amount of debt while still dealing with your student loans. Carefully consider your options, and decide what makes sense for your own financial situation.

Categories: Credit Union Info, Personal

Preventative Measures and Best Practices for a Safe 2017

Preventative Measures and Best Practices for a Safe 2017

With today’s technology it is vital that you develop a security conscious mentality. Here’s some preventative measures you should be taking to protect yourself.

  • If you’re emailing sensitive information make sure you are sending it encrypted, or that your email platform encrypts sent emails for you.
  • Know that almost all file types can be malicious.
  • Properly secure sensitive information.
  • Keep computer software up to date. Whether that be your Operating System (Windows, MAC OS, Mobile OS, etc.) or anti-virus software.
  • Stop, Look, and Think before you click.
  • Focus on password length rather than complexity.
  • Be mindful of scamming attempts. If suspicious of any communication then resume said communication using any trusted source.
  • Do not re-use passwords across multiple accounts and avoid writing down account credentials. Instead use a password management software, many of which are free.
  • Be cautious of Social Engineering, which is the act of influencing people so they give up private information.
  • Confirm that your personal Wi-Fi network is password protected and not configured to be unsecure.
  • Password protect your devices and refrain from using auto login options.

For those paper items, make sure to:

  • Use a shredder to properly dispose items that contain personal information
  • Use a secure lockbox to store all personal sensitive data, a fire proof lockbox is the most ideal.  

Work as a household to keep your personal network safe by deploying the above methods.

Categories: Community, Credit Union Info, Personal, Sioux Falls Fed Culture

Tips for Smart (and Safe) Online Credit Card Use During the Holidays

Tips for Smart (and Safe) Online Credit Card Use During the Holidays

The holiday shopping season is underway, and that means many of us pull out the credit cards. Not only is it an easy way to pay for what you want, when you want it, but credit cards also offer you a chance to earn rewards while you engage in holiday shopping.

Using a credit card for the holiday shopping season can be a savvy move, but you need to make sure you are truly being smart and safe with your card. Here are some tips for smart and safe credit card use during the holidays.

Categories: Community, Credit Union Info, Personal

Balance Transfers: How Much Could You Really Save?

Balance Transfers: How Much Could You Really Save?

If the arrival of your credit card statement leaves you in a panic, a balance transfer just might make opening the mail a little less painful.  But that doesn't mean that any balance transfer offer will do, nor does it mean there aren't some additional factors to consider. Before you sign up for a new balance transfer card, check to see: 

  • Is there a balance transfer fee:  Keep in mind, most financial institutions charge a balance transfer fee which could be 3% or higher of your total balance in order to process the transaction.  The Sioux Falls Federal Credit Union Better Rate and Better Rewards Visa credit cards have no balance transfer fee.   
  • Is there is an annual fee:  Sioux Falls Federal Credit Union Better Rate and Better Rewards Visa credit cards have no annual fee. 
  • What will the annual percentage rate be after the 0% APR introductory offer

So, how much could you really save?  The reality is, your savings depends on a few factors:  

  • What is your current annual percentage rate, or APR
  • What is your current outstanding balance

Let’s take a look at how a balance transfer would look in the real world:

As you can see, 0% intro APR balance transfer offers can be a smart move.  And if you're struggling under the weight of high interest debts, a balance transfer offer can provide some welcome relief.  With some basic planning and self-discipline, you could not only save money on interest, but you may get out of debt much faster than you think.

If you are ready to start saving, get more information here

Categories: Credit Union Info, Personal

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