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Get the latest news and information across a variety of financial topics from home refinancing to budgeting to credit cards. LowerMyBills has you covered to make sure your finances are in order and you are up-to-speed on the all the latest to make sure you wallet is in a good place.
How Often Should You Use A Credit Card?
People tend to think about credit cards like they think about the money in their wallet - physical objects of value, used for purchasing goods and services. That’s partially true, but it doesn’t tell the whole story. A card is nothing more than a symbol of your...
How Much Can You Be Saving From A Refinance?
Americans are averaging a mortgage debt of $201,811 across the country according to a recent report by Experian. Many will argue this is rather too low or too high depending which state and city you live in. Although Americans have such high mortgage debt, they often...
Reverse Mortgage vs. Cash Out Refinance
There are many differences between a reverse mortgage and a cash out refinance. While both programs use home equity to get cash back, the reverse mortgage is specifically for senior citizens. What is a Reverse Mortgage? Home Equity Conversion Mortgage is the formal...
5 Things You Need To Know About Credit Reports
If you’ve ever had a credit account in your name, such as a credit card or auto loan, you likely have one or more credit reports. It’s important to understand what these reports are since they affect many aspects of your financial life. Keep reading to learn five...
What is a Jumbo Loan?
A jumbo loan is exactly what it sounds like. It’s a loan that exceeds conventional loan (ex: 30-Year and 15-Year fixed rate mortgages) limits determined by the Federal Housing Finance Agency (the FHFA). This makes them a nonconforming loan. What Does a Typical Jumbo...
Now That You’re Working From Home: Can You Get Lower Insurance Rates for Lower Milage?
If you've recently started working from home, your commute is now a thing of the past. What's not to love? Fewer hours on the road means more hours in the comfort of your own home. The problem is, if you’re like the average American, you're paying an annual $1,566 for...
How Much Can You Be Saving From A Refinance?
Americans are averaging a mortgage debt of $201,811 across the country according to a recent report by Experian. Many will argue this is rather too low or too high depending which state and city you live in. Although Americans have such high mortgage debt, they often...
Reverse Mortgage vs. Cash Out Refinance
There are many differences between a reverse mortgage and a cash out refinance. While both programs use home equity to get cash back, the reverse mortgage is specifically for senior citizens. What is a Reverse Mortgage? Home Equity Conversion Mortgage is the formal...
Why Should I Refinance My Mortgage?
Why Should I Refinance My Home? With all the ads urging homeowners to refinance their homes, it makes people wonder if they should and how exactly would it benefit them. Refinancing your mortgage means that you are paying off the remainder of your existing loan and...
The Federal Reserve Dropped Interest Rates to 0%: What Does it Mean To You?
In light of recent events, the Federal Reserve announced that they would drop interest rates to zero. While this number may sound appealing initially, it can actually create a ripple effect on many different markets, including the mortgage sector. What do these...
Understanding the Freddie Mac Enhanced Relief Refinance Program
If you own your home but have little equity or even no equity whatsoever, you might think that refinancing is out of reach. Thankfully, there are programs available that can get you out from being underwater and back on track with lower payments. The Freddie Mac...
Cash-Out Refinancing: Best Reasons to Take Cash Out
Cash out refinancing is when you refinance your home and take out a loan for more than what you currently owe, and then you take the difference in cash. You can use this cash for whatever you want, but a cash out refinancing can be useful when used carefully and...
What is a Jumbo Loan?
A jumbo loan is exactly what it sounds like. It’s a loan that exceeds conventional loan (ex: 30-Year and 15-Year fixed rate mortgages) limits determined by the Federal Housing Finance Agency (the FHFA). This makes them a nonconforming loan. What Does a Typical Jumbo...
Should I Lock in My Mortgage Rate Today?
Making the leap into homeownership is fraught with big decisions and scary possibilities. Understanding everything that goes into getting a mortgage is like having to learn a new language. You want to make sound decisions, after taking this financial leap is a...
Budgeting for a House: How Much House Can You Afford?
Buying a home can be one of the most exciting ventures in a person's life. Even though 1 in 3 millennials under age 35 owns a home, 1 in 3 regrets it. The reason for that regret, however, is because many homebuyers forget to account for things like closing costs and...
How Much Down Payment Do You Really Need?
Can You Buy a House with No Down Payment? Buying a house can be part of the American dream. Making that home purchase, especially as a first time home buyer, makes you feel like you are a successful adult who can put down roots and make lifelong memories in your...
The Ultimate First Time Home Buyer’s Guide
There's nothing quite like taking the giant leap into adulthood with buying your first home. As a first time home buyer, it's simultaneously exciting and terrifying to make such a big long term purchase. As a potential new homeowner, there's so much to...
Are Interest and Mortgage Rates Going Down?
On March 15, the Fed cut interest rates by half a percentage point. It was the first emergency rate cut in more than a decade with record lows. As the United States continues to battle the coronavirus, you can expect both interest rates and mortgage rates to most...
5 Things You Need To Know About Credit Reports
If you’ve ever had a credit account in your name, such as a credit card or auto loan, you likely have one or more credit reports. It’s important to understand what these reports are since they affect many aspects of your financial life. Keep reading to learn five...
Now That You’re Working From Home: Can You Get Lower Insurance Rates for Lower Milage?
If you've recently started working from home, your commute is now a thing of the past. What's not to love? Fewer hours on the road means more hours in the comfort of your own home. The problem is, if you’re like the average American, you're paying an annual $1,566 for...
Unemployment Insurance: What You Need to Know
If you've lost a job recently, unemployment insurance can help fill in the financial gaps. Before you apply for unemployment, it's crucial to understand how it works, from filing your claim to getting the benefits. Read on to discover more about unemployment insurance...
What To Do If You Can’t Pay Your Bills
From the mortgage and utilities to credit card payments, uncertain times can lead to financial trouble. If you find yourself saying, "I can't pay my bills," you're not alone. Thankfully, there are steps you can take to help mitigate the problem and keep a roof over...
The Advantages of an Online Education
Thanks to advancing technology, online education is more interactive and social than ever. Not only that but today online learning has opened the doors to a variety of degree programs and alternatives to traditional higher education. And it's only getting better....
How to Work From Home and Make Money Doing It
Even without the stress of the current coronavirus pandemic, more and more people are opting to work from home than ever before. Whether you've been asked to start performing your duties remotely or you need to make some extra money while you're on lockdown, it's...
How Often Should You Use A Credit Card?
People tend to think about credit cards like they think about the money in their wallet - physical objects of value, used for purchasing goods and services. That’s partially true, but it doesn’t tell the whole story. A card is nothing more than a symbol of your...
5 Things You Need To Know About Credit Reports
If you’ve ever had a credit account in your name, such as a credit card or auto loan, you likely have one or more credit reports. It’s important to understand what these reports are since they affect many aspects of your financial life. Keep reading to learn five...
Wells Fargo Cash Wise Visa® Card
Overall As a flat-rate cash back credit card, the Wells Fargo Cash Wise Visa® Card has some great things going for it. For starters, there’s a sign-up bonus, so you can snag an extra $200 if you spend $1,000 with the card in the first three months. The card...
Features of Credit One Credit Cards
There’s at least one truth about credit cards: One size does not fit all. In fact, credit cards come in almost as many varieties as the people who use them. Las Vegas-based Credit One Bank offers an array of credit cards for consumers. Here are some key features that...
USAA Rewards American Express® Card Credit Card Review
The USAA Rewards American Express® Card offers an impressive 3 points for every $1 spent on dining out, and 2 points for every $1 spent on gas and groceries, which is a great combination for families. Coupled with the 4% APR for qualifying military members during...
Citi Rewards+ Card Review
When you’re trying to find the cheapest price for gas, all you have to do is read the sign as you drive by a station. If one station display has a lower price than the other, it’s simply a better deal. But with credit cards, banks seem to be trying to make it as...