Category: Lending

Low-Cost New Business Ideas

Small Business

Creating a new business is an exciting journey filled with a constant flow of ups and downs. When deciding which industry to invest your time and money, consider these cost-effective options, courtesy of Raccoon Valley Bank:

 

Virtual Assistant: Needing a basic set-up of only a desk, computer, and phone, this affordable opportunity allows you to work from home, and establish your own hours. Start slow with one or two clients, and work your way up to a full-time schedule.

 

Medical Reporter: Quick typing skills and a high accuracy is all you need in this quick start-up. Speak with area hospitals and gain contracts for their on-location reporting. The higher your words per minute, the better!

 

Pet Groomer: Keeping dogs squeaky clean may sound like a lot of fun, but it can be tough work! With minimal startup costs, you can start your own service straight from home. By focusing your business on smaller dog breeds, you can minimize your cost, and maximize the number of clients you can maintain!

 

Freelance Writer or Photographer: Put your skills to use in this nomadic and highly flexible field. With an increasingly high amount of online publications, many magazines are searching for additional content and imagery to accompany them. Search the web for opportunities, and begin to build your digital content portfolio.

 

Event Planner: If arranging holiday parties and birthday celebrations sounds like fun to you, this could be your ideal career! Get started planning events for families and friends, and begin building your network of clients at each function. Once people start to see what you can do, you can begin to build your client list, and slowly fill your calendar with events and your pocketbook with revenue.

 

Wherever your passions take you, Raccoon Valley Bank will help you arrive safely! With our trusted business financing, we can help you and your budget stay on track. Stop by today to speak with one of our commercial lenders, and discover how to create your ideal cash flow.

Home Renovations with a HELOC

HELOC

With warm weather approaching spring is the ideal time to shake off the dust and get your house back into shape! Get started on your next home renovation with a strategic Home Equity Line of Credit from Raccoon Valley Bank. Our custom financing allows you to withdraw only the funds you need along the course of your future project. Inspiration can be found everywhere when updating common areas such as the kitchen, bathrooms, basement, or outdoor living area. See what these average home renovations cost with this handy guide courtesy of Raccoon Valley Bank.

 

Kitchen Remodel: Creating your ideal culinary environment is more than just choosing cabinets and granite. With all the updates and finishing work, a typical Midwestern kitchen remodel can cost around $15,000 to complete. Carefully crafting the heart of your home takes concentrated decision making and long term planning. Consider updating your kitchen appliances to save you time and energy while preparing future meals. You may want to refinish or replace worn out flooring to match the new feel of your fresh remodel.

 

Bathroom Remodel: Giving your common space a much needed facelift can help you add value to your home. With updates as simple as new hardware and a tasteful backsplash you can bring some timeless style to a functional space. When undertaking a full renovation, features like a walk-in shower or a double vanity can bring a bold statement to the room. The average bathroom remodel in Iowa typically runs under $10,000 for a completely revamped space.

 

New Deck: Building a fun outdoor patio or deck can open up the area for countless fun family activities. Costing around $6000 for the average Midwestern deck, you can complete this exciting renovation in time and under budget. Spice up your new construction with added rails to hold beverages or food during grill outs and get-togethers.

 

Finishing a Basement: Depending on your foundation and other structural issues, most basement renovations center on adding dry wall, placing new flooring, and waterproofing the entirety of the room. Typically costing under $25,000, a finished basement can serve as additional space for an office or play room, increasing the livable square footage of your home.

 

There are endless projects to begin your spring to-do list this season. Let Raccoon Valley Bank help you get started on your next home renovation with a tailored Home Equity Line of Credit. Speak with one of our helpful lenders to get started today!

The Journey to Home Ownership

Home Equity Line of Credit

The journey to becoming a first time owner is an exciting and personal process. With questions ranging from price, commodities, to neighborhoods and more, the task of finding your ideal property can seem daunting as you begin the search. At Raccoon Valley Bank we want to help you make the most of your home buying experience with our guided route to home ownership. Sit back, relax, and enjoy the view as we take you step by step through the first time home buying process.

  1. Assess your personal finances. Take a good hard look at your current sources of income, in addition to the underlying expenses you have each month. Determine if your funds can support the cost of a monthly mortgage, property taxes, home insurance, and all the other associated costs of home ownership.
  2. Mortgage Pre-Approval. Once you’ve decided to make the jump into home ownership it’s time to determine what your ideal purchase price will look like. Work with your mortgage lender to decide on the best price range for you and your family. After determining your financing needs together, the bank will evaluate your credit history award you with a pre-approval letter for the amount they will agree to finance.
  3. Find “The House.” Here comes the fun part – house hunting! Pair up with a reputable realtor from the area to look at houses that do not exceed the approved purchase price. You may look at six homes, or thirteen, but once you find the right property you’ll know it’s the one!
  4. Get an approved offer. After touring the property and checking for any major repairs, speak with your realtor about putting in an offer on the house at price within your budget. The seller may counter with a different price point, and negotiations for the offer can be discussed with your realtor. When you and the seller have agreed to a purchase price and a finalized offer is signed you officially have an accepted offer to purchase your future home!
  5. Speak with your mortgage lender. Now that you’ve found your new place, your mortgage lender can gather accurate tax information and further specifics for your mortgage financing. Reach out to confirm the terms of the loan prior to closing to help ensure a smooth transition.
  6. Home Inspection. Since you and the buyer now have an accepted agreement it’s time to fully inspect the property you intent on buying. Speak with your realtor for recommended home inspectors in the area, and set up a time when both you and the realtor can be present. The home inspector will detail notes about the property concerning safety hazards and other important repairs that be taken care of at the sellers expense.
  7. Additional Negotiations as Needed. Once the home inspection is complete speak to your realtor to negotiate any changes within the accepted offer.
  8. Close the offer. After all the paperwork is finalized, and you complete the final walk through of the home, it’s finally time receive your mortgage financing and close the home offer.
  9. The House is yours. All your hard work has paid off and you are now a home owner! Celebrate this monumental achievement by inviting family and friends over for a moving or house warming party!

Whether you’re looking for a peaceful cottage in the country, new construction in the city, or a happy hideaway in the suburbs, Raccoon Valley Bank can help you with all your financing needs. Stop by the bank or give us a call at (515) 993-4581 and get started on your home buying journey today!

Spotlight Feature: Mortgage & Consumer Loans

Consumer Loan

From new homes, vehicles, construction, and everything in between Raccoon Valley Bank is here to help! We recognize the importance of owning your own home or purchasing your first vehicle. With such large milestones of accomplishment, we want to assist you in crossing your t’s and dotting your i’s, so that when you get your new purchase it’s everything you hoped for!

 

Mortgages

Purchasing your own home is still very much a part of the “American Dream,” and Raccoon Valley Bank helps make home ownership possible. By offering fixed-rate mortgages, adjustable-rate mortgages and mortgage refinancing options, Raccoon Valley Bank can help you find the ideal mortgage solution. Visit the Mortgage Center for more information and to apply for a mortgage today!

 

Types of Mortgages

FHA – Most commonly used among new homeowners this loan option requires a smaller down payment and offers payment flexibility to fit your current income.

 

USDA – Typically used in more rural areas, the USDA loans are a great option if you’re looking to live in the countryside, or are repairing an older home.

 

VA – If you’ve served in the military, active or reserve, this a great option for you! With low down payments and terms built for veterans, these loans can be great for a first-time home buyer.

 

Traditional – This is our most common mortgage option which comes in 5, 15, and 30 year terms. Be sure to check our rate watch to find the best time for your next mortgage financing.

 

Consumer Loans

Whether you are trying to meet a personal financial goal, become more independent or are met with unplanned costs, there are times where you need additional funding, and Raccoon Valley Bank is here to help!

 

Auto – Finance your new car, truck, mortorcycle or other motorized vehicle with our helpful lending offerings.

 

Personal –Whether you’re looking to finally get that lake boat, or an RV to travel the country in, we have specified financing options for every situation.

 

Home Equity Line of Credit – Finally complete that home renovation or addition! Try using this type of lending option when your budget is a more of a ballpark figure, but not necessarily an exact number.

 

With lending capabilities for nearly any project, Raccoon Valley Bank is your trusted lender for all things financial. Stop by our nearest location today, and share with us your next purchase, we’ll help get you started!

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