APM BLOG

“We must give more in order to get more. It is the generous giving of ourselves that produces the generous harvest.” ―Orison Swett Marden

’Tis the season! APM’s annual employee Giving Challenge is underway. From November 30 to December 21, APM departments and branches engage in a friendly battle for the top spot in generosity. Points are awarded for acts of giving, including donating to a food bank or toy drive, participating in a local charity run, sharing pictures and video of fun holiday traditions, or enrolling in our nonprofit entity, APMCares. It’s a fun way to kick off the holiday season and encourage employees to get active and do good in our local communities.

If you’ve owned a home over the past several years, chances are you have a great big smile on your face. That’s because you’ve probably watched your home’s value go up and up (and up). This is where all that scrimping, saving, and stressing over the homebuying process really pays off. 

Equity. The word alone sounds promising, doesn’t it? It should. Equity equals value, and it’s a great strategy for building wealth. 

But before you can put that equity to good use, you should first understand what home equity is.

The holidays are HERE! And what better way to celebrate than curled up with a few yummy dishes and the ones you love? Our APM family once again came through—sharing all their favorite holiday appetizers and sides with us. 

Passing recipes down from generation to generation—or coming up with new recipes that beget new memories and traditions—is one of the best things about the holidays. Regardless of what holidays you celebrate, the food, love, and family and friend time are what it’s all about. 

So we’re sharing a little food, love, and family with you, our extended APM family. We hope you enjoy the recipes—and the holiday season!

Cyber Monday is one of the largest online shopping days of the year. Its popularity has grown as consumers have increasingly turned to online shopping, fueled by the COVID-19 pandemic. While Cyber Monday’s popularity has grown, so have the risks of shopping online.

Giving and showing thanks benefits more than just the recipient; it does great things for the giver as well. And this isn’t new-age mumbo jumbo. It’s backed by science. 

Jumbo loans. Their name kind of hints at their function. The jumbo loan program is designed for loan amounts that exceed the conventional conforming loan limits of the Federal Housing Finance Agency (FHFA). In other words, they’re big loans. Some might even call them “jumbo.”

A large loan amount can mean something different to everyone—especially depending on where you live—which is why the FHFA carved out some guidelines on jumbo loans. Understanding them will be key to understanding when you need a jumbo loan.

With all the specialized loan programs out there—FHA, VA, etc.—it’s easy for the standard, conventional loan to get lost in the shuffle. After sifting through all these programs, you may find yourself stepping back and asking, “Wait, just what is a conventional loan?”

The word “conventional” simply means the loan is not part of a specific government program like FHA and VA loans are. Instead, they’re offered by mortgage companies, banks, and credit unions. Conventional loans that follow specific guidelines set by Fannie Mae and Freddie Mac—two federally backed companies that buy and guarantee mortgages—are known as conforming loans.

What is an FHA loan? The literal definition of an FHA loan is pretty straightforward: It’s a mortgage that’s insured by the Federal Housing Administration. But that doesn’t really tell you much. 

So … let’s try again. What is an FHA loan, really? FHA home loans are geared toward borrowers who have lower down payments or credit challenges that may make it difficult to buy a home. This makes these loans particularly attractive to first-time homebuyers.

National Hispanic Heritage Month is held each year from September 15 to October 15, celebrating the culture and significant contributions of Hispanic and Latino Americans.

Fall is a fun season to be enjoyed regardless of where you reside in the country. Contrary to popular belief, you don’t have to trek to New England or upstate New York to get a look at the beautiful fall foliage. There are opportunities all over the country—many likely within a day’s drive from you. 

Though plenty of leaf-peeping can be done outside of these regions, here are a few major players to get you started. 

Understanding the homebuying process is one thing, but did you know you should also have a solid grasp on the mortgage process before you look to buy a new home? That’s because one typically precedes the other. Unless you’re an all-cash buyer, you’ll want to understand how the mortgage process works. Once you do, it’s a whole lot simpler to create your housing budget, make a list of your needs vs. wants, and proceed with eyes wide open. 

Technology makes our daily lives so much easier—though that addiction to social media and doom scrolling is another story! Our tech-savvy world is so connected that you don’t even have to make your way to a loan advisor’s office to apply for a mortgage. This is great news in the time of COVID, as it not only saves time and hassle, but can be a healthy, responsible approach for those who would rather abstain from optional meetings.

There are so many options out there that promise to help you build wealth. High-interest rate savings accounts can make a few drops in the bucket, but not many. The stock market is certainly a vehicle for making money, but you have to know what you’re doing, what you’re buying, and when to get out. Retirement accounts can be a great way to accrue money over time, but 65 is a long way off for some people. Then there are cryptocurrencies. A year ago, it seemed the sky was the limit for these virtual coins. This year, it’s a whole different story.

It’s the age-old question: when is it a good time to buy a home? The problem with that question is it has no right answer. You can have the most favorable market conditions in the world—low listing prices because it’s a buyer’s market, low interest rates, loose qualification standards—but if you’re not in the right position to buy, it’s still not a good time to buy a home. 

You’ve just bought a home. Congrats! Now, you may wake up every morning feeling exactly as you did when you were renting. After all, aside from a new home and possibly a new neighborhood, not much has changed in your day-to-day life. 

While this may be true of your daily routine, your first year as a homeowner comes with some subtle differences compared to renting. For one, you’ve locked in your housing costs—and your residence—for as long as you want. There is also the peace of mind that comes with knowing that this property is yours. 

In today’s competitive housing market, there’s a good chance that your offer won’t be the only one a seller is entertaining. It’s not uncommon to hear sellers have more than 10 offers for one property . . . or that some buyers have put in offers on more than 20 homes, just to lose out time and time again.

In a market like this, it’s not enough to simply have your ducks in a row and walk in with a pre-approval. A market like this takes work if you want to win a bidding war.