General

When you’re thinking about buying a home, one of the key factors lenders consider is your debt-to-income (DTI) ratio. But what exactly is this ratio, and why does it matter? In this post, we’ll break down everything you need to know about DTI, including how to calculate it, why it’s important, and how it impacts your mortgage or home loan application. What Is Debt-to-Income Ratio? Your debt-to-income ratio is the percentage of your monthly gross income that goes towards paying...
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The journey to owning your dream home is an exciting one, but it comes with an important decision: should you build a new home from the ground up or buy an existing one? Both options have their advantages and challenges, and the right choice depends on your personal preferences, timeline, and budget.  The Case for Building Your Dream Home Building a home from scratch is a thrilling prospect, allowing you to create a space that’s truly your own. Here are some reasons why building...
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As technology evolves, so do the tactics of scammers. In 2024, it’s more important than ever to stay vigilant and protect yourself from financial fraud. Here are 7 scams to watch out for in 2024, along with tips on how to identify and avoid them. 1. AI-Powered Scams Scammers are increasingly using artificial intelligence (AI) to create convincing phishing emails, deepfake videos, and voice messages. These AI-generated scams can impersonate friends, family, or even employers to trick...
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As the summer sun blazes, it’s not just the temperature that rises. Energy bills often soar with the mercury, leaving many of us searching for ways to stay cool without breaking the bank. At The Middlefield Banking Company, we’re not just about financial services; we’re about serving our community. So, we’ve put together some energy-saving tips to help you beat the heat and save money this summer.  1. Use Energy-Efficient Appliances  Energy-efficient appliances...
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With the summer months just around the corner, many of us are dreaming of sun-soaked beaches, outdoor adventures, and quality time with loved ones. However, the rising costs of travel can be daunting, especially when you’re trying to stick to a budget. As your trusted financial partner, we’ve put together some practical tips to help you get the most out of your vacation while keeping your wallet happy.  1. Choose Your Destination Wisely Selecting the right destination is crucial...
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We all know it is important to have a good credit score when in reality many people do not even know what a credit score is. This is ok, we are here to help! Having a good credit score is a lifeline for your future, so it is very important to know what a credit score is, how it can be positively and negatively impacted, and why it is so important to everyone. Take a few minutes to brush up on your knowledge of credit and how you can have a good credit score.  What is a Credit Score?  Credit...
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Eating out is sometimes more than just giving our body the nutrients it needs, it can be fun, different than the norm, and be a social outing. We all need to eat to live, but for those who live to eat out, here are some tips to lower your bill but still enjoy that meal out here and there.  Change Your Drink Order As much as we all love a good fountain soda here and there, the extra money spent on coffees, tea, and soda adds up. Most of the time, water is free so if your goal is to save...
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Debt can be a burden and a hindrance to financial success. Eighty percent of Americans have consumer debts, and the average debt is $38,000, excluding mortgages. Paying off debt will help you to improve your credit rating, save you on interest payments, and make you financially secure in the short term. On the other hand, saving for retirement can offer a long-term return on investment that is not guaranteed by paying off debt. The longer you wait to save, the less you may earn. You may need...
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In uncertain times, many Americans are feeling the pinch when it comes to making purchases of any kind. It is particularly difficult to make large purchases. As the Reserve's Federal Open Market Committee continues to raise interest rates, a borrower’s credit score is becoming more important by the day.  Why is your credit score important? Put simply, lenders use your credit score to determine your creditworthiness. Your credit score affects whether you get approved for credit...
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  The coronavirus pandemic has been behind a plethora of undesirable changes — the cost of food staples rising being one of them. No one wants to spend more than necessary. While the expenditure depends greatly on where you shop and what you buy, there are many little things you can do to curtail unnecessary spending. These savings can add up over time. Sign up for a loyalty program Most if not all grocery stores have a loyalty program that is free to join, more often than not....
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