If you’ve heard people talking about “historically low mortgage rates” for about half the year so far and assumed there’s no way it could be true that whole time, we have good news: It is. Not only have the rates stayed remarkably low for that whole time, they continue to plumb new depths on a seemingly daily basis. But what does that all mean and how does it affect you? Read on →

Applying for a mortgage can be both exciting and challenging as you work your way through a process that can determine whether you’re able to buy that house of your dreams. One of the biggest sources of stress for many people is tracking down all the documents and details required to complete various steps of the process. There seem to be different requirements every step along the way, and it can be difficult to keep up with it all and find what you need. Read on →

While the best recommendation remains having 20% or more of the value of the property you’re purchasing available for a down payment at closing, that isn’t always possible. In fact, it typically isn’t. Whether you just haven’t quite accumulated as much in your savings account at this point as you might need or your dream house hit the market and you don’t want to risk waiting, it’s reality. And it’s OK in most cases. Read on →

Our money market accounts are just another of the wonderful options we have for businesses to invest for the future and improve their financial footing now. They provide an opportunity for your business’ money to keep working, even when you aren’t. We offer attractive rates that increase as your balance does and have a low required minimum. So here’s the deal on our money market accounts and why one might be the perfect option for your business. Read on →

Little ones watch adults pay for goods and services from very close to their first days on earth, so it’s only natural they would develop curiosity about this trade of paper, plastic and metal for things they want. The good news is, there are apps aplenty to help you teach them. Teaching children about money is an important part of preparing them for adulthood. It’s also a great way of developing both simple and complex math skills, including addition, subtraction and division. Read on →

Private mortgage insurance is an important part of homeownership for most Americans and makes that dream possible for a lot of first-time buyers. Still, it’s an added expense many people don’t know to expect going into the purchase process and one even those who’ve paid for years, maybe even more than once, don’t understand. Here are some of the important points you need to know, whether you’re trying to figure out why you’re paying that extra fee each month or hoping to make sense of everything ahead of you when you make your first real estate purchase. Read on →

The pumpkin spice lattes are back and the mercury is edging downward, which means fall is once again creeping into St. Louis. It’s an exciting time for many as we leave the heat of the summer behind and approach cozier days and hayrides. Fall fun can come with a price. Though we noted the pandemic is changing how we spend in 2020, you can bet there will still be plenty of invitations to open your wallet in the season to come. Read on →

The IRA provides one of the most attractive retirement savings plans available, both in individual accounts and as part of employer-connected savings plans. With options that provide tax-free or tax-deferred growth and average annual returns historically between 7 and 10%, their value is easy to see. Still, reports indicate many Americans are not saving for retirement. With such a great, accessible option out there, that’s hard to understand. IRA Retirement Options Explained St. Read on →

One of the most stable investment options we offer at St. Johns Bank is the traditional certificate of deposit (CD). While they have been around for years, they’re still little-understood and often-ignored. And the confusion isn’t helped by the fact its abbreviated name is the same as that for an audio file format. That lack of recognition is a shame because it could mean investors miss out on an opportunity to put money away in a long-term, relatively safe investment instrument. Read on →

Mortgage points have confounded generations of Americans. In sports and card games, points are good, so are they also good on mortgages? If you’ve heard points can lower the interest rate you pay on your mortgage, maybe they seem like a no-brainer, but is there a potential downside? St. Johns Bank is here to help you understand your finances so you can manage them wisely and confidently. Part of that is helping you understand concepts like mortgage points, so let’s get into it. Read on →