Great News for First Time Homebuyers

I am happy to announce that First National Bank now offers a grant program available for first time homebuyers.  First time homebuyers might be eligible to receive up to $3,000 to use towards their down payment and/or closing costs. (the grant is $4,000 but has $1,000 in fees for the grant, so the net is $3,000 to the buyer )

 Borrowers are required to take a homebuyer education class which costs $99.  This class can be taken in person or online.  Both class options take approximately 8 hours.

 The grant is a 5 year forgivable loan, no payments are due during the 5 years, and after 5 years the money owed is forgiven. ( if house is sold or refinanced within 5 years, then borrower has to pay a portion of the $4,000 back )

 Buyers have to make below 80% of the Area Median Income.

For the Omaha Metro, the max household income is the following:

1 -2 Person:                        3+ Person:

$58,000                                 $66,800

 The grants are approved by a 3^rd party and it will take at least 60 days to close with a grant once I receive an accepted purchase contract.

 This is a great product for first time home buyers that do not have the down payment, can not get a gift, or do not qualify with the additional NIFA HBA loan payment.

  Please contact Nick  Zwiebel with First National Bank Mortgage Division with any questions.  He can be reached by phone at 402.602.5263 or email

Meet Nick: First National Bank Mortgage Loan Officer

   Nick Zwiebel, First National Bank

   Mortgage Loan Officer

   16909 Lakeside Hills Plaza, Suite 119

   Omaha, NE 68130 

   Direct Phone: 402-602-5363

  Website: https://nzwiebel-firstnational1lo.mortgagewebcenter.com/

I appreciate you taking time to consider First National Bank and myself as your mortgage provider. I would be privileged to assist you with your purchasing, refinancing, or home building needs.
With over 9 years of experience in the mortgage industry, I will give you the knowledge and experience necessary in making one of your largest financial decisions. As a mortgage professional, I feel it is my responsibility to educate and help you understand your options.  My goal is to ensure you get a loan program to fit your lifestyle along with making your experience simple and as exciting as buying a new home should be! I really look forward to meeting you and helping you accomplish your financial goals!

Buying a new home while selling your current home

" Buying a new home while selling your current home brings a unique set of circumstances, including the possibility of paying two mortgages, living in a rental home for a short period, and bridging financing between both homes. But if your family has outgrown your current home and you are ready to make a change, consider the following tips to help the process go smoothly. Here are some great tips from First National Bank on what to consider. 

                                                                                     

4511 Krug Omaha, NE 

• Evaluate the Market: Before you put your current home up for sale, you should evaluate the current housing market and look into the prices of houses in your neighborhood, as well as your potential new neighborhood. It’s important to get a good picture for how much homes are selling to help you determine how much you need to sell your current home to afford the home you want.
• Get Pre-approved for your New Mortgage: In today’s credit environment, it’s important to get a formal loan commitment from your bank to guarantee successful financing for your new home and to ensure there are no surprises or hiccups along the way that can be avoided. First National Bank will help you find a mortgage to fit your situation with low interest rates. Visitfirstnational.com/mortgage or contact a mortgage specialist today at 877-687-5626 to get started on the pre-approval process.
• Consider Purchase Contract Contingencies: If you find a new house before you have sold your current house, it may be smart to make your purchase contract dependent on selling your current house. On the flip side, if you have found a buyer for your current house but have yet to find your new home, add a contingency that your closing will be dependent on your ability to close on a new house.
• Develop a Plan to Bridge Financing: You should prepare yourself to potentially own two houses. With that possibility comes the mortgage payment and expenses of two houses. Prepare for this by building up your savings ahead of time, or consider taking out a bridge loan. Bridge loans allow you to borrow money for the down payment on your new home based on the equity in your current home. However, bridge loans can include a variety of fees and a high-interest rate. Another option is to take out a home equity loan, and payoff the loan once you’ve sold your current home.

Purchasing a new home can bring numerous scenarios into play, depending on your personal and financial situations. First National Bank is here to work closely with you to ensure your finances are in place and the process goes smoothly during this exciting and important time."

Benefits and Tips for Consolidating Your Debt

According to First National Bank, if your debt is piling up, combining what you owe into one manageable payment may be a good option. Reducing debt is a great step towards financial stability. Before beginning the process, you should check your credit report and correct any potential errors to ensure your credit history is accurate when you apply for a consolidation loan.

Juggling multiple monthly payments can be a challenge. Consolidating your debt offers the following benefits:

• Receive financial advice from a financial expert
• Ability to focus on one manageable payment
• Avoid potential late charges or fees from individual creditors
• Eliminate confusion of the different repayment terms and payment amounts from multiple credit lines
• Begin to get your budget and spending habits back on track to eliminate debt and reduce future debt

If you’ve decided consolidation is the best route to go to get your monthly payments under control, you should look for a flexible, low-interest loan that fits your individual needs. Taking out a home equity loan is a common way to consolidate your high-interest debt into one low monthly payment by using your home as collateral. Ensure you are comfortable with the monthly payment and confident that you will be able to pay the amount for the duration of the loan.

If you don’t own a home or have equity in your home, another option is to take out a personal debt consolidation loan. No collateral is required and you should look for a flexible loan with a fixed interest rate that allows you to pay off the loan early with no penalty charge.

First National Bank offers home equity loans and personal debt consolidation loans to help get you on the path to financial success. Managing your debt and continuing to make your consolidation monthly payment on time until the loan is paid off will lead to a more secure future for you and your family. Learn more about lending options from First National Bank.

First Time Homebuyer Considerations

Buying your first home is a decision that can stick with you a lifetime. Not only is it a financial investment, it is also a lifestyle change. You should consider the following financial and lifestyle factors before buying your first home. According to First National Bank here are a few items you just may want to consider. 

Financial Factors Current income and expenses: Before committing yourself to a mortgage payment for the next 30 years, you should evaluate your current financial situation. Detail a list of your current income sources, as well as all expenses. Determine how much money you feel comfortable with allotting for a mortgage payment. This will also help you determine what price range you can afford. You should also consider expenses that come along with purchasing a home, such as earnest money, a down payment and closing costs.

• Tax advantages: New homes come with the possibility of tax advantages. Those possible advantages include deductions for mortgage interest, local property taxes and home equity interest (if you borrow against your home). Plus today's laws allow for savings on capital gains if you sell. As with any tax related issue it is best to discuss this with your tax advisor for all the little details. But if your rent payment is lower than a mortgage payment and you are comfortable living where you are, you can invest those funds and possibly receive the same monetary advantages.
• Maintenance and repair costs: If you are purchasing an existing home, it may involve maintenance and repair costs, both in the short-term and long-term. Ensure that you have a savings plan ready to handle any kinds of unexpected expenses that will be required to continue safely and comfortably living in your new home.

Lifestyle Factors:

• Home and yard upkeep: Maintaining the inside and outside of a new home may be a pro or a con, depending on your situation. If you enjoy landscaping, home maintenance, and decorating, owning your own home gives you the flexibility to make a house your home. If you lack the time, skills, or money to keep up with everything a house entails, you may want to consider continuing to rent.
• Future relocation plans: Consider how long you plan to live in an area. If your job requires frequent relocation or you are planning on moving to a new area within the next few years, renting may make more sense than buying, and having to quickly sell a home in a tough housing market.

Whatever choice you decide is best for you and your family, First National is here to help you through the entire home-buying process. Through the mortgage pre-approval to closing on your new home, First National Bank's mortgage loan officers will guide you along the way. For more information on our variety of mortgage products that will fit your needs, contact us today at 877.687.5626 or visit firstnational.com/mortgage

Savings & Budgeting 101 - Compounding Interest

Saving & Budgeting

If you think your personal finances are in need of an overhaul, you aren't alone. According to the US Census, the average American household is falling short of their savings goals. I, along with First National Bank  hope to give you some basic tools to help you establish and achieve your personal financial goals. If you have any questions or concerns about saving and budgeting contact Nick Zwiebel with First National Bank and let him know I sent you. Follow me for the next six Mondays for some great tips, tricks and ideas to keep your savings and budgeting on track.

Last Monday, we discussed Emergency savings and what exactly they mean along as why they are so important. – This week we will look into Compounding Interest. According to First National Bank…

Compounding Interest

Banks are willing to pay you for your money. Make sure you are
interest savvy to get more bang for your buck.

Annual Percentage Yield (APY): the annual rate of return on an investment after compounding

A few things to consider about compounding interest:

·         1. Compounded interest essentially pays you interest on your interest

·         2. Always compare Annual Percentage Yield over Rate when
shopping for the best interest on savings accounts

·         3. The more frequent the compounding, the more money you make

·         4. The longer your investment sits, the more you earn

With the power of compounding interest, it's easy to earn more in interest than you take from your own pocket. All you need is a little bit of patience. With a monthly contribution of $50and an assumed 5% savings rate, let's watch how your money grows.

Personal Contributions

Cumulative Balance

30 Years | Contributions: $18,000 | Total Balance: $39,863.31

That's almost $22,000 free money!

Borrowing Basics

Advice for Protecting Your Identity

"According to First National Bank, with recent high-profile data thefts, protecting your identity has been top of mind for many. The following tips from the Federal Trade Commission will help you safeguard your personal information and your credit history as well as provide steps to take if your information has been compromised.

• Safeguard your personal information offline: Lock your financial documents in a safe deposit box or a lock box in your home. Limit what you carry in your purse or wallet and always leave your Social Security card at home. Shred any financial documents, credit card or account statements, or insurance forms that are no longer needed. When possible, sign up for online statements. First National offers online statements to allow you to quickly and securely view your information.
• Secure your information online: Be aware of any spam emails or other types of online message that may lead to an infringement of your privacy and theft of your personal data. Do not give out any personal information over the phone or through email unless you are 100% positive of who is on the other side. Keep your passwords private and do not share personal details on social networks. Information shared publicly can help identity thieves to gain access to your accounts.
• Keep your devices secure: Use anti-virus software, anti-spyware software and set up a firewall to protect your device and personal information from being compromised. Always lock your laptop or device when finished using and do not save any automatic passwords or logins in your browser. Be aware of any information you are accessing over a public wireless network if it’s not secure and make sure websites you visit are encrypted.
• Monitor your financial accounts and credit report: Check your online banking and other financial accounts on a regular basis to look for any suspicious or non-authorized transactions. Sign up for credit monitoring services to be sure you are aware of any inquiries or dramatic changes to your credit score. First National's Credit Card now helps you keep tabs on your FICO® 8 Bankcard Score. Just by logging in every month, you can view your FICO® Score 24/7 online and discover what Key Score Factors have affected your FICO® Score."

Savings & Budgeting 101 - Emergency Savings

Saving & Budgeting

If you think your personal finances are in need of an overhaul, you aren't alone. According to the US Census, the average American household is falling short of their savings goals. I, along with First National Bank  hope to give you some basic tools to help you establish and achieve your personal financial goals. If you have any questions or concerns about saving and budgeting contact Nick Zwiebel with First National Bank and let him know I sent you. Follow me for the next six Mondays for some great tips, tricks and ideas to keep your savings and budgeting on track.

Last Monday, we discussed Long Term vs Short Term savings and what exactly they mean along as why they are so important. – Well according to First National Bank, an Emergency Savings should be based on your monthly net household income. Below is a great example of what you should set aside for an emergency.  

Emergency Savings

Based on your monthly net household income
of $3,000, you should have approximately $9,000 - $18,000
set aside for an emergency (3-6 months of living expenses).

          Why? You may be asking why so much, well an emergency savings is just that, in case of an emergency this is money you will live off of in case you are unable to work, if you lost your job, it may take 3-6 months to find a job. If you are disabled, most policies will not start providing you income for at least 90 days.

Savings & Budgeting 101 - Long Term vs Short Term Savings

Saving & Budgeting

If you think your personal finances are in need of an overhaul, you aren't alone. According to the US Census, the average American household is falling short of their savings goals. I, along with First National Bank  hope to give you some basic tools to help you establish and achieve your personal financial goals. If you have any questions or concerns about saving and budgeting contact Nick Zwiebel with First National Bank and let him know I sent you. Follow me for the next six Mondays for some great tips, tricks and ideas to keep your savings and budgeting on track.

Last Monday, we discussed The Five Element of Savings – Today we will discuss Long Term vs Short Terms Savings, if you remember in the Five Elements of Savings, you want to figure out your accounts. This will be a little a better understanding of what a “Short Term Savings” account can be.

Long Term Savings

Also known as your emergency savings, these funds should cover the 'what ifs' in life.

·         disability

·         medical expense

·         unemployment

·         house or auto repairs

·         insurance deductibles

Short Term Savings

Good news — you get to spend this money and within the next year!

·         home remodel

·         new auto purchase

·         large household purchase

·         vacation

·         holiday shopping

·         weddings

First Time Home Buyer Grant!

 Great news! First National Bank is now offering grant programs geared towards first time home buyers. This great product focuses on the first time homebuyer that does not have a down payment, is unable to receive a gift or for those who cannot or do not qualify for the additional NIFA HBA loan payment.  With this program first time homebuyers will be eligible to receive up to $7,500 to use towards their down payment and/or closing cost.

Borrows are required to take a homebuyer education class. The great thing is class can be taken online or in person, either option will take about 8 hours to complete and cost you $99.

The grant is a five year forgivable loan, which means payments are not due during the five years, and after the five years the money that is owed would be forgiven.  The grants are approved by a 3^rd party and it can take up to 45 days to close on the buyer’s new home with this grant, once the accepted contract has been received by the First National Bank Mortgage Officer.

There are a few requirements that the borrows will have to meet which are as followed:

Buyers have to make below 80% of the Area Market Median Income: For the Metro area, the maximum household income is as follows:

1-2 Person                  3+ Person

$58,000                       $66,800

If you are looking for a Mortgage Office, I would suggest you contact Nick Zwiebel with First National. Nick offices in my building, located at 16909 Lakeside Plaza #119 and is more than happy to answer any questions for you.   If you or someone you know may benefit from this grant program please contact me. I would love to help you build the foundation to your dreams.

Please contact Nick with any questions you may have in regards to the Grant Program. Nick can be reached at  Phone: 402-602-5363|Cell: 402-301-7098| Email: nzwiebel@fnni.com or you can visit his website here |  https://nzwiebel-firstnational1lo.mortgagewebcenter.com/

Saving and Budgeting

Saving & Budgeting

If you think your personal finances are in need of an overhaul, you aren't alone. According to the US Census, the average American household is falling short of their savings goals. I hope to give you some basic tools to help you establish and achieve your personal financial goals. If you have any questions or concerns about saving and budgeting contact Nick Zwiebel with First National Bank and let him know I sent you. Follow me for the next six Mondays for some great tips, tricks and ideas to keep your savings and budgeting on track.

According to First National Bank there are Six Elements of Savings.These thoughts/ideas are not something that will cause any extra hard work on your part, but maybe able to help you get that savings account back up and budgeting on track.

1. shop with a list

2. coupon, coupon, coupon

3. pack your lunch

4. buy reliable, not cheap

5. use daily deal sites

6. buy in bulk...sometimes

  Why… buying in bulk can be a money saver or a money pit. Before you supersize your spaghetti sauce, check the price per unit or ounce to determine if it’s really a good deal. price per unit or ounce to determine if it's a good deal. It may also not be ideal for small