Jeanne D'Arc Credit Union - Money Strong

Your Mortgage Loan Options

Finding the right mortgage loan can be a confusing process. Knowing the contrasts between different home mortgages can be hard to keep track of. Here are two of the most common mortgage loan options that you should keep in mind when exploring the housing market. For more assistance, a qualified home mortgage professional can help you find the right mortgage for you.

Fixed-Rate Loans
For decades, the most popular mortgage option for American homebuyers has been the fixed-rate mortgage. This loan offers borrowers unparalleled security. Even if average interest rates climb over the years, in a fixed-rate mortgage your interest rate will be locked into your original loan terms. Most commonly issued in 15 or 30 year repayment plans, fixed-rate mortgages require regular payments of the same amount every month until your debts are paid and your loan expires. This allows for easy financial planning, without any unwanted surprises.

Adjustable Rate Loans
Though perhaps not as stable as a fixed-rate mortgage, an adjustable rate mortgage is still worth exploring. Instead of locking in an interest rate, an adjustable rate mortgage will allow your loan’s interest to fluctuate based on home interest averages. Because there is a risk of interest averages increasing and requiring higher monthly payments over time, an adjustable rate mortgage will often ask much lower initial monthly payments and offer a low initial interest rate.

To learn even more about the mortgage options available to you, get in touch with a trusted and informative lender. If you’re in Lowell, Massachusetts, come to Jeanne D’Arc Credit Union. We’ve been Lowell’s local bank since 1911. Call (978) 710-0148 to speak with a qualified and knowledgeable home mortgage expert.

Jeanne D'Arc Credit Union - A Growing Community

We believe Jeanne D’Arc Credit Union is more than just a financial institution—it’s a part of the community. As our community grows, so do we.

Over the last hundred years, we’ve helped clients make their dreams a reality through financing homes and providing other services. We like to think that Jeanne D’Arc Credit Union has played a role in making our communities as great as they are today, with strong neighborhoods and dedicated citizens.

We’d love to have you as a part of the next hundred years of Jeanne D’Arc Credit Union! Stop by one of our branches to set up a savings or checking account, discuss financing, or set up business services. No matter your financial needs, we can help you achieve financial stability and work toward your dreams. Call us today at (978) 710-0148.

Reasons You May Need a Personal Loan

If you’ve found yourself strapped for cash in between paychecks, or life’s thrown you a sudden expense beyond the size of your savings account, you may want to consider a personal loan. Today’s variety of loan options means competitive lending markets for the consumer like you. Visit a trusted and qualified lender and discuss whether a personal loan makes sense for your unique financial situation. Here are some reasons you may need a personal loan.

Unplanned Expenses
It takes money to keep our lives running smoothly. In spite of this, sometimes our homes need sudden repair, our loved ones get sick, or our cars might break down. A personal loan can be a great way to face the unexpected expenses you or your family have not adequately prepared for. A personal loan can be a responsible way of continuing to meet your life’s obligations when surprising accidents strike. You can usually be approved for a personal loan within just one to three days.

Large Expenses
Sometimes a personal loan can provide a viable alternative way of paying for the major purchases you’d usually make on your credit card. From engagement rings to family vacations, a personal loan might provide you with an extra way of micromanaging your finances to afford major purchases. In fact, since they are sometimes issued in fixed rate repayment plans, many people seek out personal loans for greater stability when it comes to long-term month-to-month budgeting.

Debt Consolidation
If you’re burdened with high interest credit card debt, taking out a personal loan can sometimes be a financially sound way to pay off other debts and consolidate what you owe. In some cases, even an unsecured personal loan’s interest rate will be lower than your credit card’s. If you’re thinking of using a personal loan to consolidate your debts, make sure you ask about annual fees and know the exact details of the loan term.

If you’re in Lowell, Massachusetts, get in touch with a financial expert at Jeanne D’Arc Credit Union to discuss your personal loan options today. Reach us at (978) 710-0148.

Educate Yourself on the Benefits of a Credit Union

We hope you’ve found our recent posts about financial topics interesting. Educate yourself further by checking out these great websites!

• FeedthePig.org has tips for tapering your latte addiction and dealing with other money-wasting habits.
• If you’re looking for more information about home equity lines of credit, head over to this page from the Federal Reserve.
• Though you may not be able to institute every single one of these tips for saving money, there are sure to be a few that will interest you.
• Check out this comparison between home equity loans and home equity lines of credit to see which one might be best for you.
• What is the difference between a credit union and a bank? Find out by reading this information from MyCreditUnion.gov.

Whether you’re looking for a personal loan, an auto loan, or a mortgage, Jeanne D’Arc Credit Union is here to help you achieve your financial dreams. If you’d like to discuss your options, call (978) 710-0148 to speak to one of our representatives.

Smart Savings Tips

Saving money is vital to financial health, but getting started can seem impossible. Check out these tips for cutting back that will put more money in your pocket.

• Pay Yourself First
  When you get your paycheck, it is tempting to splurge on those shoes or that video game you’ve been pining after. Take the opposite approach: after you get a paycheck, immediately put a predetermined amount into your savings account and make your credit card and loan payments. That way, you’ll always be saving. 
   
• Create a Budget
  Track your expenses for a few weeks to see how much you really are spending. Make sure you write down everything, from your rent or mortgage payment to that pack of gum you bought. From there, establish how much you should be spending on items like food, clothing, and utilities, and work to bring your real-life expenses more in line with your ideal numbers.
   
• Cut Out the Extras
  Buying a $3 coffee every day may seem like no big deal, but it can add up to hundreds of dollars every year. Eating out is even more costly. Instead of letting these small expenses chip away at your budget, work to minimize them. Buy a smaller coffee, or forego it altogether; eat out less often or share plates with friends. These changes will make a big difference to your bank account. 
   
• Cook Your Own Meals
  Even if you’re not a gourmet chef, you can learn to prepare healthy, delicious meals that will be much cheaper than take-out. If you’re too tired to cook when you come home from work, make big batches of soups or casseroles on the weekends to keep in the fridge and microwave when you come home on weekday nights.

When you follow these simple tips, you’ll find that your bank account doesn’t look nearly so dismal at the end of every month. Put that extra money into a savings account at Jeanne D’Arc Credit Union, where our 7% interest rate will help it grow even more. Call us at (978) 710-0148 to get started.