Mortgages

We’ve probably all heard about a home equity line of credit. But what is it really and how can we use it? In today’s blog, Peoples Bank of Kankakee will talk you through what a HELOC is, what it can be used for and a few other top pieces of information you’ll want to know!

A home equity line of credit, or HELOC, is a loan in which the lender agrees to lend a maximum amount within...
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Buying a home may be a common practice for the average American, but it is not a simple one. This is especially true if you are new to the game and have yet to learn the ins and outs of the process. No need to worry, we have plenty of experience from our years in the home buying business and are willing to share the best-kept secrets on the market!

If buying a new home seems far into your...
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It’s finally house hunting season and you could not be more excited to get the ball rolling on your big purchase! Before you hit the road or the search bar, take these 7 tips into consideration.

Before signing the papers or falling in love with the first home you see be realistic about what is in your budget. We recommend spending no more than 25 percent of your monthly income on...
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If you’re looking to buy a house, having a larger down payment will offer you a lot less financial stress in the long run. However, in order to put a larger sum of money down, you will need to take the right steps to save. Follow these 5 steps and you will be on your way to being a first-time home owner!

Step 1: Figure out how much you will need to save - If possible, secure a number or range on the amount you can responsibly spend on a house. You can plan to sit...
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Congratulations! You’ve taken a big step in your financial future by purchasing your first home. As a new homeowner, you may be worried about the chunk of change you just spent, and your bank account may be looking a little slim right now. Luckily, Peoples Bank of Kankakee is here with a few simple saving solutions to help your funds increase.

As you have just made a big dent in...
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