Good Credit is Key to Solid Financial Future
- If you are just beginning to establish your credit history, open a checking account and keep careful track of your balance.
- Use debit and credit cards for convenience and safety, but not to overspend. Missed or late payments damage your credit and hurt your credit score.
- A good mix of credit (such as revolving credit line and an installment loan) also boost your credit score and further shows that you can manage different types of credit.
- Demonstrate stability in the three to six months before a major purchase. Avoid opening or closing accounts or moving large amounts of money around.
- Build an emergency fund equal to at least six months of living expenses. If the unexpected happens, you will still be able to pay fixed expenses instead of falling behind.
- Alter your credit focus as you approach life-cycle stages. As you near retirement, for example, start paying down major purchases (such as a mortgage).
- Monitor your credit regularly so you can correct any errors and detect any potential signs of identity theft. Order a copy of your credit report annually from www.annualcreditreport.com.
First Northern Bank Welcomes Ag & Commercial Lender, Nate Boyd
First Northern Bank Welcomes Commercial & Consumer Lender, Kip Junker
Kip Junker began his banking career in 1979, and moved to Gillette in May of 1987. Kip has held numerous positions within the banking industry and is very excited to be part of a hometown community bank. Kip has been married for almost 30 years and has been very involved in the Gillette community. One of his favorite projects is "Coats for Kids" through the Gillette Kiwanis Club where they give away approximately 1,000 coast every winter to families in need.
Savings for Rural Development Home Buyers
OCTOBER, 2016 - Exciting news is ahead for consumers who qualify for a Rural Development loan. Effective October 1, 2016, Rural Development will significantly reduce both the upfront guarantee fee as well as the annual fee that is charged monthly.
What does this mean for you?
The upfront guarantee fee is changing from 2.75% to 1.0% of the loan amount, and the monthly fee will change from 0.50% to 0.35%. For example, purchasing a $200,000 home loan will save you $3,500 on the upfront funding fee and $25 per month. That's a combined savings of $12,500 over the duration of the loan in comparison to current RD fees.
Interested in learning more? Contact your local mortgage lender today.
All credit and loans products are subject to credit approval. Other fees may apply. Information is subject to change without notice. First Northern Bank of Wyoming - NMLS # 402576
First Northern Bank of Wyoming Announces New Ranch Real Estate Loan Product
Long-term, fixed financing for agricultural land
FEBRUARY, 2016 - First Northern Bank is proud to announce a new loan product designed to provide long-term, fixed financing for ranch land. Through this product, qualified borrowers will discover a variety of financing options for purchasing property to keep their business growing and successful.
Until now, purchasing agricultural land was typically met with limited financing options. First Northern Bank's Ranch Real Estate Loan product takes a new approach to eligibility, making it easier for borrowers to qualify for 10-30-year fixed-rate financing. Plus, these new loan options offer more competitive rates and even pre-payment options, without penalty.
"Financing ranch land is a uniquely different process," said Ryan Fieldgrove, V.P. and Senior Lending Officer with First Northern Bank. "It's important for ranchers to work with a lender who specializes in agricultural financing, so they understand the challenges these producers face. We've worked hard to provide part-time and full-time farmers with the options they deserve to grow their operations and meet their business goals."
First Northern Bank of Wyoming Announces New Mortgage Program
Flexible financing for country living.
FEBRUARY, 2016 - First Northern Bank is proud to announce the recent addition of RuraLiving, a new rural residential mortgage program. Under the new program at First Northern Bank, qualified borrowers can receive affordable, flexible financing for the country home of their dreams.
Until now, acquiring financing for rural and small ranch properties has been met with limited financing options. The RuraLiving Home Mortgage program offers long-term 30- and 15-year fixed rate financing, with a competitive rate advantage.
"RuraLiving is different than most traditional mortgage programs." said Ryan Fieldgrove, Senior Lending Officer with First Northern Bank. "This program is specifically designed for rural homes and hobby farm properties that do not follow traditional mortgage financing guidelines."
To learn more about this exciting new residential mortgage program, contact a loan officer at your local branch in Buffalo, Sheridan or Gillette or visit our RuraLiving page.