April, 2015

Home Equity Loan vs. Home Equity Line of Credit | The First National Bank Blog

April 28th, 2015
Home Equity Loan vs. Home Equity Line of Credit | The First National Bank Blog image

How does a home equity loan differ from a home equity line of credit? Home equity loans and home equity lines of credit (HELOCs) are similar in that they both use your home as security. They differ in several other ways, however. Home equity loans are paid to the borrower in one lump sum, while lines of credit provide the homeowner with checks or online banking to withdraw funds as needed over time. Most HELOCs are available for up to 10 years. You can also pay down a HELOC and then borrow more from the line of credit. A home equity [ read more ]

Free Shredding Event | The First National Bank Blog

April 22nd, 2015
Free Shredding Event | The First National Bank Blog image

Going paperless with online banking is a great way to celebrate Earth Day, but what about paper documents you already have and don’t need anymore? The First is offering a shredding event on Saturday, April 25th at Bucks County Community College to help you get organized while protecting sensitive information from identity thieves. Possible candidates for shredding include: Bank statements you’ve had for more than one year, but won’t need for preparing income tax forms. Income tax records that are more than seven years old. Receipts for big ticket items like TVs or washing machines that you no longer own. Credit card statements [ read more ]

Choosing between a Home Equity Loan and a HELOC | The First National Bank Blog

April 14th, 2015
Choosing between a Home Equity Loan and a HELOC | The First National Bank Blog image

You need cash and you’ve built up a fair amount of equity in your home. Now it’s time to decide which loan product is right for you—a home equity loan or a home equity line of credit? To answer this question, you need to ask yourself a few more questions: Is the loan for an immediate, one-time expense or is the financial need ongoing? For example, imagine everything is going fine until one day the roof caves in—literally. A new roof is all you need, and there are no other large financial icebergs looming on the horizon. If that’s the [ read more ]

How to Pick and Pay for the Best Values in Home Improvement

April 7th, 2015
How to Pick and Pay for the Best Values in Home Improvement image

Owning a home is the cornerstone of financial security for many American families. That’s why you need to be strategic about selecting improvement projects that will help maintain and even raise the value of your property over time. Let’s look at some of the considerations. Structural improvements are a must Fresh paint won’t help if your house needs foundation work or a new roof. To protect your investment and the safety of your family, make sure to maintain the structural integrity of your house, as well as the electrical work and plumbing. For big projects, get quotes from multiple contractors, [ read more ]