But few can compare to the Falcon Nest home in Prescott, Arizona.
And while the property may also be known as The Palsolaral House, we’re going to keep referring to it as the Falcon Nest — a title fit for a villain’s lair, a rather appropriate potential role for this quirky house.
The 10-story home, designed by Phoenix architect Sukumar Pal, is a unique residence that once held the title of “world’s tallest home”, which it lost in favor of the South Mumbai home of business magnate Mukesh Ambani — a true high-rise, counting 27 stories.
And if you want a home that’s truly unique (and don’t mind relocating to the Copper State), know that the Falcon Nest home is headed for auction on May 25. That means you can snag the architectural wonder for considerably less that the $1.5 million price tag, with the bid starting at $750,000.
10 Stories of Unique Living Space
The 6,200-square-feet of living space are neither common, nor forgettable.
Featuring expansive glass ceilings and striking views that stretch for miles, the Falcon Nest’s interiors are equally unique as its exteriors, making it a true architectural rarity.
With three bedrooms and four baths, the Palsolaral House also comes with an impressive 2,000-square-foot solarium, also equipped with two bedrooms, two baths, and a kitchen.
A hydraulic elevator provides access from the garage level to the sixth floor. With minimal energy consumption, a small footprint, and utilizing natural elements to heat and cool the home free from cost, the home exemplifies passive solar technologies and alternative power sources.
If you’re considering joining the auction that takes place on May 25, 2017 on Concierge Auctions’ mobile bidding app, here’s a photo tour of the unique property:
Save more, spend smarter, and make your money go further
Pretty much everyone upped their spending on take-out food in 2020 – and for good reason. With restaurants closed for indoor dining and grocery stores experiencing unpredictable staffing and inventory issues, many consumers chose to order out for the majority of their meals.
Now that things are returning to normal, you may be wondering how to adjust your budget accordingly. We’ll walk you through how to determine the right amount to budget for take-out and dining, and give you some strategies to save money when ordering from your favorite restaurants.
How Much Should You Spend on Dining and Take-Out?
It’s hard to give an exact prescription for how much you should spend on take-out because it largely depends on the specifics of your budget and financial situation. In general, your food budget, including groceries and eating out, should make up between 10 and 15% of your income. Families with multiple children may spend more than that, so don’t worry if your percentage exceeds the recommendation.
If you’re not sure how much you spend on food, go through your transactions for the past few months and calculate the percentage.
John Bovard, CFP of Incline Wealth Advisors said consumers who have no credit card debt and invest 20% or more of their income in a retirement account can spend 10% of their post-tax income on take-out.
Ways to Save on Takeout
Want to keep your takeout tradition but still feel like you’re spending too much? Here are some tips to save money when ordering out from your favorite restaurants:
Pick up in person
Everyone knows that delivery fees add a huge surcharge to your total bill, but you might not realize how big the difference actually is. A New York Times article found that the same sandwich at Subway costs between 25% and 91% more when delivered, depending on the specific delivery app.
A $20 order could cost between $5 and $18.20 more if you get it delivered. The cost is generally higher during weekends and holidays.
Look for specials
Plan your take-out around restaurant specials. Follow restaurants on social media to see when they’re running discounts, like half-price oysters on Sundays or happy hour specials. When you’re picking up the food, ask someone behind the counter when the best deals are.
Restaurants often print coupon codes or discounts on their receipts, so don’t forget to check there.
Use discounted gift cards
Many restaurants and fast food places sell gift cards and often run special sales, like selling a $50 gift card for $45. This is especially popular during the holiday season.
Wholesale clubs like Costco and Sam’s Club regularly sell discounted gift cards to popular chains. For example, you can buy $100 worth of gift cards to California Pizza Kitchen for only $80 at Costco, or $75 worth of Domino’s gift cards for only $65.
You can also buy restaurant gift cards online through GiftCardGranny or CardCash, which sell gift cards for up to 10% off.
Skip dinner
Dinner is the most expensive meal of the day, so opt for breakfast or lunch if you’re eating out. If you get take-out a couple times a week, use one for dinner and the other for brunch or lunch.
Cash in rewards
Some restaurants have loyalty programs you can join with an email address or phone number, while others have an old-fashioned punch card system. Keep track of these rewards so you cash them out before they expire.
Order catering
If you’re eating with a group of people, see if the restaurant offers catering, which may be less expensive than ordering individual entrees. Everyone will have to eat the same thing, but it’s a great way to save money.
Sign up for restaurant emails
Both local and national restaurants often have email newsletters you can join to get extra discounts. For example, my favorite Mexican restaurant is constantly sending me emails for 10 or 15% off take-out.
Create a separate label for these emails so you can sort through them before ordering take-out. You can also add reminders on your phone to use the discounts before they expire.
Use a rewards credit card
Many credit cards offer points or cashback when you dine out, and some let you cash in points for restaurant gift cards. Look up the rewards policies for your current credit cards to see which one you should use for restaurants.
Consider opening a new card if you don’t have a dining rewards card. The Chase Sapphire Preferred offers 2% cashback for dining and also comes with a year of DashPass, the DoorDash subscription service with $0 delivery fees.
Chase Sapphire Reserve cardholders earn 3% cashback on dining, get a free year’s worth of DashPass and also have $60 of DoorDash credit for the first year.
Most dining rewards cards have an annual fee, usually around $95, so don’t open one unless the cashback rewards will exceed the fee. Some card companies will waive the fee for the first year, allowing you to see if you’ll earn enough rewards to offset the fee. Some rewards credit cards also let you cash in points for restaurant gift cards.
Buy a food delivery subscription
If you don’t have easy access to transportation, then ordering delivery may be your best option. In this case, consider signing up for a food delivery membership. DoorDash, Grubhub, Postmates, and Uber Eats all offer a monthly subscription for around $10. Each subscription comes with free delivery and other specials.
Before you sign up, calculate how often you order out and see if a monthly membership makes sense. If you have a neighbor or roommate, consider splitting a subscription with them to save even more money.
Many of these services have a free trial period, allowing you to gauge how much you’ll actually use them. Choose the app with the largest number of restaurants you like.
Use a browser extension
Browser extensions like Rakuten provide cashback when you order from delivery sites like Grubhub and Seamless. Just click on the Rakuten button on the top right of your browser when you visit either of those sites. You’ll earn up to 11% cashback with eligible orders.
Save more, spend smarter, and make your money go further
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Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. Read about how she paid off $28,000 worth of student loans in three years at Conscious Coins. More from Zina Kumok
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<img width="600" height="1024" src="https://blog.mint.com/wp-content/uploads/2015/08/Stocksy_txp353f1af4bhY000_Medium_714670.jpg?w=600&h=1024&crop=1" class="rkv-card__media" alt decoding="async" loading="lazy" data-attachment-id="901" data-permalink="https://mint.intuit.com/blog/couple-holding-wine-glasses-in-restaurant/" data-orig-file="https://blog.mint.com/wp-content/uploads/2015/08/Stocksy_txp353f1af4bhY000_Medium_714670.jpg" data-orig-size="1536,1024" data-comments-opened="0" data-image-meta=""aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"" data-image-title="My Mint Tips: How to Save When Dining Out" data-image-description data-image-caption="
It might surprise you to learn that the average ATM fee in America is $4.57. Considering that the minimum withdrawal amount is $20, you effectively pay 25% more if you use an out-of-network ATM with such a high fee.
Of course, your actual fees will vary depending on where you live and what type of ATM you use. However, it’s fair to say that these fees can really add up.
5 Easy Ways to Avoid ATM Fees
You don’t have to resign yourself to paying a lifetime of expensive ATM fees. Instead, use a bit of preparation to ensure you can access your cash for free whenever you need it.
As Ben Franklin famously said, “An ounce of prevention is worth a pound of cure.” In this case, a few minutes of preparation are worth a lot of cash savings. Ready to never pay ATM fees again?
1. Look for Banks that Reimburses ATM Fees
Even if your bank does participate in an ATM network, it’s also good to find one that reimburses your ATM fees. Some banks even reimburse international ATM fees.
There are a few ways they do this: some offer an unlimited reimbursable amount, while others might cap it out between $10 and $25 each month. So, how does ATM fee reimbursement work? Typically, you’ll still have to pay the fee upfront.
Your bank then credits any applicable ATM fees to your account balance at the end of your billing cycle. So, you generally have to wait a bit of time before seeing that money. Still, it’s much better than never seeing it at all! Interested in finding a financial institution that offers ATM fee reimbursements?
Banks and Credit Unions That Reimburse Out-of-Network ATM Fees
Alliant Credit Union – reimburses up to $20 per month
Ally Bank – reimburses up to $10 per statement cycle for ATM fees charged at other ATMs nationwide
Axos Bank – unlimited ATM fee reimbursements domestically
BankFive – up to $15 reimbursed each cycle
Charles Schwab Bank – unlimited ATM reimbursements worldwide
First Republic Bank – reimburses third-party fees worldwide
Incredible Bank – automatically reimburses ATM fees
Radius Bank – unlimited ATM fee reimbursements domestically
SoFi Money – ATM fees reimbursed worldwide
Upgrade – up to five ATM reimbursements each month
Top Banks and Credit Unions That Don’t Charge ATM Fees Within Their Network
Aspiration – over 55,000 fee-free ATMs
Capital One 360 – over 70,000 Capital One or Allpoint ATMs at zero cost
Chase – over 16,000 fee-free ATMs
Chime – over 60,000 fee-free1 ATMs
Citibank – over 65,000 ATMs fee-free to customers
Current – over 40,000 fee-free ATMs
Fifth Third Bank – over 50,000 fee-free ATMs
PeoplesChoice Credit Union – over 85,000 fee-free ATMs
PenFed Credit Union – over 85,000 fee-free ATMs
Wells Fargo – free access to over 13,000 ATMs
As you can see, there are plenty of financial institutions offering fee-free options that allow you to avoid ATM fees. Many of these bank accounts also come with no monthly fees. You can narrow down the list by reviewing other account features. You should also take into account how much foreign travel you do.
2. Plan in Advance
If your day entails going to Target or shopping online, it’s safe to assume you won’t need cash. But if you’re headed out to a less mainstream operation, check ahead to see if the business accepts debit or credit cards.
It’s as simple as a quick Google search on your phone to check out their payment options. If there’s no website available, see what people have to say on Yelp or Facebook. Message or call the business to check their policy in advance. While many small businesses use their smartphone or tablet to process electronic payments, you shouldn’t assume they all do.
This is especially true if you’re visiting a small operation. A farmer’s market or pick-your-own-strawberry field very well may only accept cash. Food truck rallies, small outdoor concerts, and cheap (but tasty) local dives may operate on a cash-only basis.
These are exactly the types of businesses that need loyal customers like you to support them. But when working with limited funds or limited Wi-Fi, accepting cards may not be an option for these businesses.
Do them and yourself a favor by checking acceptable forms of payment ahead of time, especially when it comes to local businesses. It might be easier to go to a big box store. However, it won’t be half as much fun or have as large of an impact on your community as supporting the little guys. Just prepare in advance, so you can avoid taking a U-turn to hit up an ATM once you’re there.
3. Keep Backup in Your Wallet
It’s perfectly reasonable to attempt to minimize what you carry around in your wallet. After all, you’re probably also saddled down with a bulky smartphone and keychain.
Amidst your driver’s license, debit cards, credit cards, health insurance card, and whatever else that lives in your wallet, you should also carry some backup cash. But, of course, you probably don’t want to walk around carrying a thick wad of money in your wallet.
The chances are low that you’d ever get robbed, but it’s certainly not impossible, especially if you live in a large city. Still, keeping a $20 bill in your pocket can save you a huge headache at some point down the road.
That amount should most likely cover a cab ride, lunch, or other last-minute cash expense you might encounter. And if you do happen to lose your wallet for some reason, you’re not missing a massive chunk of change.
Carry a Blank Check
Another great way to avoid last-minute trips to the ATM is to carry a blank check in your wallet. This gives you a little more leeway than a $20 bill because you can write out the check for however much you want.
If you happen to lose your wallet, or it gets stolen, you’re not out any cash. Of course, you might want to stop payment on the check number, but even that may not be necessary since you didn’t sign it.
Not everyone still accepts checks because of the chance of someone writing a bad one. But in many instances, it can save you time, money, and the aggravation of having to go out in search of an ATM. Adding a simple blank check and $20 can go a long way in ensuring that you’re prepared for any situation that requires a certain amount of cash.
4. Use Your Debit Card to Get Cash Back
A simple but often forgotten way to avoid paying ATM fees is to get cashback on a store purchase. You’ll need a debit card rather than a credit card for this tactic, but otherwise, it’s pretty straightforward.
Make a low-cost purchase at a gas station, drugstore, or other convenient retailer and request money back from your bank account during the payment process. However, there are a few conditions that come with this strategy.
First, it’s not technically free since you do have to pay money to get your cash. But you do actually get something for that money, unlike an ATM fee.
In addition, note whether the establishment has a minimum for either a debit purchase or getting cashback. Ideally, you can get away with buying a cheap drink or snack for one or two dollars. At some places, however, you have to spend $5 or more to use your debit card.
Cash Back Limits
Another factor to consider when getting money through cashback is that there may be a maximum amount you’re able to receive. For instance, CVS only allows for $35 as cashback.
If you need more than that, you may have to visit a few different stores. That can quickly add up if you’re making small purchases at each one. While these limits can be annoying, there is an upside to using cashback for money rather than an expensive ATM.
That’s the flexibility you have in the types of bills and coins you receive. While ATMs usually only dispense cash in $20 bills, you can request any combination of money with cashback. It’s also convenient if you only need a small amount and don’t want to (or can’t) withdraw in $20 increments. Before you hit an ATM, see if a retail store can meet your needs with cashback.
5. Check Your Bank’s ATM Network
If you find it necessary to track down an ATM, look for one in your bank’s network. This allows you to avoid ATM fees from two different parties. How?
Unfortunately, when you use an ATM that’s out of your bank’s network, you’re typically charged twice: once by the company operating the ATM and once by your bank. It’s a double whammy that really hurts your bottom line. So first, look to see if your actual bank has a branch location with an ATM near you.
This is the simplest way to ensure you won’t incur any extra charges. If there are none nearby, check the back of your debit card to see if any other ATM networks are listed. You can also download your bank’s app to use an ATM locator. It’s a quick and easy way to find a no-fee ATM — plus, it’s usually free.
The Largest ATM Networks
Some of the most common ATM networks include Allpoint, MoneyPass, and Co-op Solutions. Allpoint, for example, has 55,000 ATMs in the U.S. and ATMs in Canada, Puerto Rico, the U.K., Australia, and Mexico.
So, you can enjoy fee-free cash in some popular international destinations as long as your bank or credit union participates. MoneyPass is only found in the U.S. and Puerto Rico. It’s in many convenient locations, including Walmart.
Co-op is a similar service that focuses on credit union members. It has more than 30,000 ATMs and 5,000 shared branches throughout the nation. Participating credit union members can easily access fee-free money just about wherever they are.
Ask your bank or credit union where you have your checking account if they participate in any of these ATM networks. If they don’t, and you frequently use ATMs, it might be time to open a new bank account.
Final Thoughts
ATM fees can be especially high when traveling abroad. So, having a bank account like the Charles Schwab Investor Checking or SoFi Money can result in a lot of savings. Not to mention, some of them act as savings accounts and have similar interest rates, so you can actually earn money too.
ATM fee reimbursement isn’t the only feature you should consider when choosing a checking account. However, it could be the most important if you frequent ATMs often.
1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
How Bankrate scored Third Federal Savings and Loan
To determine Third Federal Savings and Loan’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors:
Affordability: Third Federal’s mortgage rates are largely below Bankrate’s averages, and you can save on upfront closing costs with the bank’s low-cost options.
Availability: The bank serves borrowers in 25 states and Washington, D.C., and doesn’t offer government loans.
Borrower experience: Third Federal has a broad range of customer service hours and lots of online resources to help guide you through the mortgage process.
Affordability: 5/5
Affordability differs from lender to lender, so comparing costs is key. Third Federal Savings and Loan clearly displays mortgage rates on its website. These rates are generally competitive and updated regularly, and you can set up automatic rate alerts to get a notification when rates drop below a certain level. If you input some details about your desired loan, you can get even more information, such as the estimated payment and closing costs or how much you could save on the interest rate by paying for points.
The bank charges common closing costs that can include an origination fee, but also offers a lower-upfront cost option for virtually every type of loan that keeps these costs to just $295. These low-cost loans have a higher interest rate, however, so you’ll have a higher monthly payment and your borrowing costs could amount to much more over the life of your loan. Additionally, while there’s no fee to get a preapproval, you might be charged an application fee depending on the type of mortgage you’re seeking. Notably, the bank also offers a $750 closing cost credit to first-time homebuyers.
Availability: 4/5
This factor can make the overall mortgage application process smoother or more challenging. Third Federal Savings and Loan works with borrowers in 25 states, so you’ll need to confirm whether it services yours before you apply for a mortgage with the bank. Its loan offerings include conventional loans as well as construction loans and financing for investment properties. The bank doesn’t offer government-insured mortgages, however.
Borrower experience: 4.7/5
Know what to expect when you work with a specific lender. Third Federal Savings and Loan has 80 years of experience lending to borrowers in Ohio and elsewhere in the U.S. The bank has an A- rating from the Better Business Bureau. Its website makes it easy to check available rates, get preapproved, apply for a loan and sign the required paperwork. Before you apply, you can use the bank’s useful calculators to determine how much home you can afford and to estimate your monthly payment. Once you get your loan online, you can use the Third Federal app to manage it; however, you can’t apply for the loan itself directly through the app.
How to apply for a mortgage with Third Federal Savings and Loan
You can apply for a purchase loan or a refinance in person at one of the bank’s branches, on Third Federal’s website or by calling 1-800-THIRD-FED.
Here are some tips to prepare for the process:
Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)
Refinancing with Third Federal Savings and Loan
Third Federal Savings and Loan offers refinancing at competitive rates in line with Bankrate’s averages. You can apply to refinance your loan through the bank’s website, either to take equity out of your home, refinance your existing balance to a lower rate or shorter term (or both) or consolidate debt. The bank’s low-cost loans ($295 closing costs) are also available for refinances.
Methodology
Bankrate’s expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.
Bankrate’s reporters and editors have decades of experience covering the mortgage industry. They’re skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here’s how we assess each of the categories:
Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender’s lowest advertised annual percentage rate (APR) based on Bankrate’s sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
Customer experience. Finally, we delve into what it’s like to deal with the lender as a consumer. We look at the lender’s application process and availability of customer service support. We also consider the results of J.D. Power’s 2022 Mortgage Origination Satisfaction Survey.
Bankrate’s editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.
Bankrate’s methodology page spells out our rating process in greater detail.
Last Updated: April 27, 2020 BY Michelle Schroeder-Gardner – 3 Comments
Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.
The following is a sponsored post.
Retirement is the most complicated time in your life, financially. That’s driven by many factors, including: (1) you don’t know how long your retirement will last, (2) you won’t have a traditional salary coming in the door, and (3) you might not have the same mental capacities as you do now to make financial decisions.
The complicated nature of retirement has increased over time as life expectancy has increased — from around 60 years in 1930 to closer to 80 years today — and pensions have gone away. Maybe your parent or grandparent has a pension? That pension, which might not seem like a big deal when you’re young, makes a big difference in retirement. It fixes all three issues listed above by providing you a continuation of your salary for as long as you live. Now, not only are employers not offering them, but many of us don’t have traditional jobs with benefits in the first place.
Still, for all of us DIYers out there who know how to take control our financial lives and make things happen, there are solutions for us. To make sure we’re financially comfortable and safe in retirement, we need to be aware of the risks and take the right steps to be protected. This of course means thinking about this and planning ahead years before we expect to retire.
Here are the 4 best tools to keep you safe in retirement:
1 – Social Security (I’m serious here…)
Social Security is the golden child of retirement planning. It is THE BEST option we have out there to keep us safe. It’s basically a pension provided by the government. Here’s how it works: While you’re working and paying taxes, you earn Social Security credits. As long as you’ve earned at least 40 credits (1 credit for every $1,320 you make, max of 4 credits per year), you’ll qualify to receive benefits in retirement. The more credits you earn, the more your benefit, which is a monthly paycheck in retirement, will be. That monthly check can start between ages 62-70 and will continue for life, each year potentially increasing for inflation. The longer you wait to start it, the more your benefit will be.
To take full advantage of Social Security, do the following:
Maximize your credits by making sure your reported taxable income is at least $5,280 every year. (This number is based on the 2018 credit value of $1,320 which does go up over time.)
Plan to delay the start of your Social Security to the maximum age of 70. You’ll get an 8% increase in your benefit each year you delay them past full retirement age (67).
Keep track of your Social Security benefit by creating an account. Knowing how much you’ll be receiving each month will make it easier for you to plan how you’ll cover the remaining expenses that exceed your benefits.
2 – Blueprint Income’s Personal Pension
Employers have decided to stop offering pensions, instead providing better access to the stock & bond markets through 401(k)s. But, you can still get yourself the benefits of a pension — steady, guaranteed income that continues for life — independent of what your employer offers. Blueprint Income’s Personal Pension is an account you create and fund just like you fund your 401(k), IRA, or brokerage account. But, instead of putting money in the market, the money in your Personal Pension gets converted into guaranteed, lifelong income backed by insurance companies, of which Blueprint Income has 15 on their platform. (The technical product that makes this possible is called an income annuity, which is what the first generation of pensions used.)
Use the Personal Pension to supplement your Social Security so that all of your most important expenses in retirement will be covered no matter how long you live, and even if the market crashes. Here’s what to do:
Head to Blueprint Income to build a Personal Pension plan. You can set a goal for how much income you want in retirement and they’ll tell you how much to put in over time.
If you have an idea of how much your basic expenses will be in retirement, use that minus Social Security as your income goal. If you don’t know, just set it at $2,000 per month and work with their time to refine it later.
Decide where the money to open the account will come from (minimum of $5,000). You can use existing retirement savings (Traditional IRA, Roth IRA, 401(k) rollover) or new savings from your bank account.
Then, keep contributing over time as little as $100 per month to build up your retirement check. If something happens, you can always skip/cancel/change contributions without penalty.
3 – Tomorrow, The Family Financial Planning App
The first two tools protect you from the risk that you live longer than expected and the risk that the stock market crashes. But, what will happen when you pass away? Not only is that emotionally challenging for your loved ones, it can also create very complicated financial situations for them. The Tomorrow app provides a super easy and user-friendly way to make important long-term financial decisions and set up appropriate wills and insurance contracts.
Here’s what you can do through the Tomorrow app:
Create a last will & testament for free. Having a will is important because it specifies who will be the guardian of your kids and pets and specifies what should happen to your assets.
Create a trust fund, which when paired with a will, has the benefit of protecting your privacy, reducing probate costs, and allowing for better distribution of your assets.
Determine and buy the right amount of term life insurance. This is the simplest form of protection for your family over the period of time that a premature death would harm them financially.
4 – EverSafe, Protection from Fraud, Scams & Financial Exploitation
At the beginning, I mentioned that retirement becomes a risky time in your life because of your potentially diminished cognitive capabilities. This reality makes seniors easy targets for financial abuse and exploitation. Elder financial abuse can take many forms, including petty theft, fraud, scams, misguided home repairs and bad financial advice. EverSafe is a personal detection and alert system that stops exploiters from taking advantage of you.
Consider signing up for EverSafe as you approach retirement, or for your loved ones who are already in retirement, to get the following services:
Analysis of your daily transactions for erratic activity and anomalies like unusual withdrawals, missing deposits, etc.
Alerts by email text, or phone to you and your trusted advocates when suspicious activity occurs.
Tools to manage and resolve any fraudulent activity.
With these tools, plus all of the good day-to-day and long term financial sense I know you already have, you’ll set yourself up for a comfortable retirement where, ideally, you never even have to think about money or risk!
Bonds began the day on the back foot as UK inflation crushed forecasts. Treasuries sold in sympathy, but found their footing before the start of the US session. From slightly lower opening yields, the rest of the day was spent selling, apart from a brief bounce surrounding the 5yr auction and Fed Minutes release. Yields were less than 3bps higher at the 3pm close and haven’t gone much higher after hours. No one likes higher rates, but today is best viewed through the lens of in-range volatility. MBS can’t quite make that claim as 5.0 coupons are a bit lower than they were yesterday, but 10yr yields traded under yesterday’s ceilings. Nothing was decided in the bigger picture. The Fed is data dependent. Inflation is still too high. Corporate earnings suggest a resilient economy. And we’re waiting until early June for more relevant econ data.
S&P Manufacturing PMI
48.5 vs 49.0 f’cast, 50.2 prev
Services PMI
55.1 vs 51.5 f’cast, 53.6 prev
09:44 AM
MBS down an eighth of a point, underperforming. 10yr also losing ground, near AM highs, but still down 0.6bps at 3.692.
11:57 AM
Steady weakness throughout AM hours and another pop of selling following debt ceiling progress headlines. 10yr up 2.8bps at 3.726. MBS down 9 ticks (.28).
02:04 PM
No major reaction to FOMC Minutes. 10yr up 2.3bps at 3.721. MBS down a quarter point.
03:24 PM
Modest gains until about 2:40pm, but losing ground since then. 10yr up 3bps at 3.728. MBS down 3/8ths with almost an eighth of that due to illiquidity.
Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.
Editor’s note: This is a recurring post, regularly updated with new information.
American Express, Capital One, Chase and Citi are four of the major players in the travel credit card space. As such, these issuers offer their own travel portals, where users can earn and redeem their points and miles for flights, hotels, car rentals and more.
These issuers also incentivize their cardholders to use the bank’s own portal, done by offering bonus points on bookings.
For instance, with the Capital One Venture X Rewards Credit Card, you’ll earn 10 miles per dollar on hotel and car rentals and 5 miles per dollar on flights — but only when booked through the Capital One Travel portal. Purchases made outside the portal earn 2 miles per dollar.
Likewise, with the Chase Sapphire Preferred Card, you’ll earn 5 points per dollar on all travel booked through the Ultimate Rewards portal. Otherwise, you earn 2 points per dollar on those travel purchases.
Given the lucrative earning potential that booking through these portals presents, it begs the question: Is it worth your time to use them rather than booking directly?
In this guide, we put these four travel portals to the test when booking flights. We compared price, ease of use, redemption value and other metrics.
Methodology
For this analysis, we limited our research to flights and didn’t include hotels, rental cars or other travel. That’s because we generally recommend that you avoid booking hotels through a third party since you likely won’t receive elite-status benefits (if you have any) or earn elite-qualifying stay credits.
If you’re not concerned with earning hotel elite status or are booking an independent hotel, then booking your stay through a travel portal could be advantageous for you.
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It’s also worth noting that you can get elite-like perks at hotels, even without elite status, by booking with these programs: Amex’s Fine Hotels + Resorts, Amex’s The Hotel Collection, Capital One’s Premier Collection, Chase’s Luxury Hotel & Resort Collection, Citi’s Hotel Collection and Citi’s Luxury Hotel Collection.
With flights, you may be able to “double-dip” your earnings: You can usually earn bonus points on bookings through your card issuer’s portal and earn airline and elite-qualifying miles just as you would by booking directly through the airline. That said, here are the features we examined in each portal:
Results: Do you get comprehensive results when searching through the portal?
Price: How do the prices compare to booking directly with an airline versus through a portal?
Ease of use: Is navigating the portal easy for a user? What unique features or benefits do users get from using this portal?
Redemption value: Is it worth redeeming your points and miles for travel through a portal?
With these four factors in mind, here’s how the individual issuers’ travel portals stack up.
American Express Travel portal
Any American Express card that earns Membership Rewards points grants access to the Amex Travel portal. Depending on your specific card, you may earn bonus points for booking through the portal.
The Platinum Card® from American Express, for instance, earns 5 points per dollar on flights booked directly with airlines or through Amex Travel (on up to $500,000 of these purchases annually, then 1 point per dollar) and 5 points per dollar on prepaid hotel bookings made through Amex Travel. The American Express® Gold Card, meanwhile, earns 3 points per dollar on flights booked directly with airlines or through Amex Travel.
You can search for flights, hotels, flight and hotel packages, rental cars and cruises on the Amex portal.
Related: Everything you need to know about Amex Travel
Capital One travel portal
The Capital One travel portal offers a fresh interface powered by the travel tech app Hopper and is accessible with most credit cards earning Capital One miles or cash back.
Bonus earnings are available, depending on which card you have. Using the Capital One Venture X Rewards Credit Card to book flights in the portal provides 5 miles per dollar; flights booked elsewhere earn 2 miles per dollar.
Currently, you can only book flights, hotels and rental cars through the portal. The portal also houses the Premier Collection for luxury hotels. However, this is only accessible if you have the Venture X or its counterpart, the Capital One Venture X Business card.
The information for the Venture X Business card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: How to use the Capital One travel portal — now with more cards and new rewards
Chase Ultimate Rewards travel portal
Chase’s Ultimate Rewards travel portal was powered by Expedia for many years, but the issuer migrated to cxLoyalty in 2021.
You can access the portal with your Ultimate Rewards-earning credit card, including popular options like the Chase Sapphire Reserve, the Chase Sapphire Preferred or the Chase Freedom Unlimited. Cardholders can book flights, hotels, cars, activities and cruises on the Chase travel portal.
Related: Why are some flights more expensive through the Chase travel portal?
Citi travel portal
The overhauled Citi travel portal launched in March 2023 after months of delays. It’s powered by Rocket Travel by Agoda, part of the Booking.com family.
You can access the portal with any credit card earning ThankYou points, and several cards earn bonus points on bookings in the portal. Unfortunately, flights aren’t included in these bonus offerings.
With Citi’s new portal, you can book flights, hotels, rental cars and attractions of numerous types. The portal also offers two hotel programs: Hotel Collection and Luxury Collection.
Related: Ultimate guide to the Citi travel portal
Booking flights
I looked at a variety of round-trip routes with the same dates (roughly six months from now) and gathered the following prices:
Itinerary
Booked directly
Amex Travel
Capital One Travel
Chase travel
Citi Travel
New York (JFK) to Los Angeles (LAX) in economy with Delta Air Lines.
$533.
$541.
$540.
$523.
$540.
Tampa (TPA) to Bozeman (BZN) in economy with American Airlines.
$786.
$786.
$786.
$786.
$786.
Baltimore (BWI) to Las Vegas (LAS) in economy with Delta Air Lines.
$720.
$720.
$720.
$720.
$720.
Miami (MIA) to Boston (BOS) in economy with JetBlue.
$418.
$418.
$338.
$418.
$412.
Chicago (ORD) to Milan (MXP) in economy with United Airlines.
$902.
$902.
$902.
$772.
$732.
Nashville (BNA) to Bogotá, Colombia (BOG) in economy with American Airlines.
$535.
$535.
$535.
$535.
$415.
Toronto (YYZ) to Seoul (ICN) in economy with Air Canada.
$1,079.
$1,952.
$1,880.
$ 2,581.
$1,952.
New York (JFK) to Los Angeles (LAX) in Delta One.
$2,798.
$2,600.
$2,798.
$2,798.
Not available.
Newark (EWR) to London (LHR) in business with British Airways.
$3,272.
$3,272.
$3,300.
$3,300.
$3,300.
San Francisco (SFO) to Singapore (SIN) in business with Singapore Airlines.
$8,351.
$7,285.
$8,521.
$9,386.
$8,521.
Price
All of the travel portals generally fared well when it came to searching economy flights versus booking directly. However, there were a few major caveats worth noting.
Southwest Airlines is not bookable on any of the portals, and tickets for low-cost airlines like Spirit Airlines and Frontier are typically more expensive on the Chase and Capital One travel portals than booking directly. Amex Travel didn’t display any Spirit Airways or Frontier Airlines flights.
When it came to international flights, all of the bank portals struggled at times to match prices or give comparable results versus booking directly. For a deeper dive on some of these routes and flight prices, we did a broader comparison across 20 flights in this guide.
As a general word of advice, domestic flights should yield the same results and price, but it gets tricky when searching for international fares. Your best bet would be to compare the prices and only use a portal when the prices are identical.
Ease of use
The Amex portal is my favorite for a comprehensible search experience, fast load times for results and the simplicity of parsing through the various options.
On the other hand, the Capital One portal offers one of the most visually appealing interfaces, with color-coded dates to indicate the lowest prices in a calendar view — plus price drop protection. However, the Capital One portal did not provide as many options as its competitors on some searches. It also yielded higher prices for international routes, but I’m hopeful that the issuer will continue to make improvements in the future.
Based on millions of data points from Hopper, Capital One is supposed to let you know if this is the best time to book via its price watch prediction feature.
To standardize the offerings across various airlines, Capital One also provides detailed insights into what flyers can expect from their chosen fare class. With the rise of “basic economy” fares, it’s not always clear what amenities are included in your ticket and what you’ll have to pay for as extras.
Capital One does an excellent job of explaining in-depth features such as seat pitch, aircraft type, and food and beverage options on board.
Speaking of basic economy, it’s worth noting Amex Travel rarely (if ever) displays these fares. If you’re looking for basic economy, you should use another portal.
Citi’s new portal does a good job of offering a broad range of results in economy and offering upgrades on the payment page. And being able to book flights plus other travel elements in one transaction is great. However, searching directly for business-class fares is tricky on this portal.
Finally, the Chase portal has seen vast improvements since fully migrating toward its cxLoyalty interface. Previously, when Chase was powered by Expedia, users complained about slow load times and much higher prices than those offered directly by the airlines. Some of those issues seem to have been resolved.
While the Ultimate Rewards portal could use some work in cleaning up the interface, the overall user experience is much better than before. That said, it’s also the portal with the highest frequency of price divergence from booking directly — sometimes higher and sometimes lower.
Redemption value
This is not a criterion we used for evaluating these bank travel portals for this particular article. The value of your points or miles can depend on which particular rewards card you carry. Still, it is worth remembering if you intend to use your credit card’s travel portal to earn or redeem points and miles.
Your credit card points or miles are typically worth 1 cent each for flights in your respective travel portal. That’s the case with Amex cards that earn Membership Rewards points and Capital One credit cards. Even with the Capital One’s premium card (the Venture X), your points are only worth 1 cent each when redeemed for travel through the Capital One portal. The same applies to credit cards earning Citi ThankYou points.
On the other hand, Chase’s credit cardholders are incentivized to use the Ultimate Rewards portal via a higher redemption value. With the Chase Sapphire Reserve, your points are worth 1.5 cents each toward travel bookings, while the Chase Sapphire Preferred and Ink Business Preferred Credit Card fetch 1.25 cents per point in value.
While not as consistent of a program, American Express offers “Insider Fares,” allowing cardholders to redeem their points for a better value than 1 cent apiece on select domestic and international itineraries. However, these can be quite specific.
Select Amex business credit cardholders can also leverage the Pay with Points benefit to get a 25% to 50% points rebate when booking select airfare through Amex Travel — yet another incentive to book through the portal.
Due to all these card-specific circumstances, we didn’t make redemption values a main criterion for judging these portals for booking flights. Rather, we focused on each portal’s user interface and the availability of competitive fares — as those two factors will probably be the determinants as to whether travelers end up using them.
Related: Why I love the Amex Business Platinum’s Pay With Points perk
Bottom line
Credit card issuers have improved their travel portals over the years, but they’re still far from perfect. While there isn’t a clear winner for the best travel portal, each has unique features and incentives for its cardholders.
If you decide to book a flight through your issuer’s travel portal, be sure to compare that price against booking directly with the airline to get the best deal possible. And don’t forget that you may want to book directly anyway to avoid any headaches down the road. If you need to change or cancel your airfare, booking with a third party can complicate matters when plans change.
If you’re not familiar with John Lautner’s iconic Beverly Crest mansion, or with the estate’s flamboyant owner, then you’re definitely missing out. This 1963-built mansion is an architectural gem and one of Hollywood’s best-kept secrets.
The Sheats Goldstein residence: John Lautner’s organic architecture dream
The 4,500-square-foot Sheats-Goldstein residence was designed by John Lautner (one of the most noteworthy American architects of the twentieth century) and built between 1961 and 1963, in Los Angeles’ Beverly Crest neighborhood.
The concrete-and-wood house was built into the sandstone ledge of a hill, and it’s a testament to the connection between man and nature.
Each space is open and offers stunning views of downtown Los Angeles and the Pacific Ocean, with glass walls throughout that serve to blend the indoors with the outdoors.
John Lautner designed the American Organic Architecture house for Helen and Paul Sheats and their three children. After going through a couple of different owners, it was acquired by James F. Goldstein, a businessman, real estate investor, and fashion designer, in 1972.
At the time, the house had fallen into disrepair and was in dire need of a makeover, so Goldstein reached out to Lautner to help bring the residence back to its former glory.
SEE ALSO: 18 modern mansions that redefine house goals
What emerged was a two-decades-long partnership to remodel the house, which ended when John Lautner passed away in 1994. However, Goldstein never stopped tweaking and upgrading his Beverly Crest dwelling, even adding a nightclub to the list of amenities.
The James Goldstein house turned museum in 2016
The Sheats-Goldstein Residence, as the property is now known, still maintains all the original designs and touches that John Lautner carefully created.
His work is not limited to just the architecture of the house; Lautner also designed the interiors, the windows, lighting systems, all the furniture, the rugs, and other details.
James Goldstein worked with the designer for years to ensure every little detail was in tune with the overall theme of ‘organic’ architecture.
The result is a house so unique, so carefully crafted and fresh, that Goldstein wants everyone to be able to tour it and be inspired by it.
That’s why, in 2016, he decided that he would donate the house, with everything in it, to the Los Angeles County Museum of Art.
James Goldstein entrusted the home, its surrounding estate, as well as a 1961 Rolls-Royce Silver Cloud and his eclectic wardrobe to the museum. This way, his and Lautner’s legacy will continue to inspire and attract curious minds and aspiring architects and designers. And let’s not forget about the celebrities.
Why Jimmy Goldstein’s house is Hollywood’s best-kept secret
The James Goldstein house, besides serving as home to the elusive businessman, has also been used by various showbiz producers and directors.
If you thought the house seemed familiar, you might have seen it in The Big Lebowski, as the home of porn merchant Jackie Treehorn, or in Charlie’s Angels: Full Throttle, where it played the part of Alex’s house (Lucy Liu).
The house has also served as a setting for fashion ads and commercials, glamorous events, and, well, porn flicks. James Goldstein has always kept an open mind, apparently.
Then there’s the nightclub. Dubbed Club James, for obvious reasons, the venue was Goldstein’s idea, to keep Hollywood parties out of his house, but still close by.
Exclusive parties and events are held at Club James round the clock; Rihanna celebrated her 27th birthday party here, with Jay Z, Mick Jagger, and Leo DiCaprio in attendance. Needless to say, Goldstein wants the good times to keep rolling at Club James even after he’s gone.
Movies filmed at the Sheats-Goldstein residence
James Goldstein’s unique house is one of the most popular filming locations in Los Angeles, for obvious reasons. There’s just no other place quite like it, and its intricate design and stunning architecture draw celebrities like a magnet.
Various Hollywood movies and TV shows were filmed at the Sheats-Goldstein residence, including the now-iconic The Big Lebowski.
It’s by far the most recognizable house featured in the movie, set up as the home of adult film producer Jackie Treehorn, which earned Jimmy Goldstein’s house the moniker of ‘the Big Lebowski house’.
The other striking property in the movie is Lebowski’s opulent mansion, which is actually another popular filming location, namely the Greystone Mansion in Beverly Hills. This is where movies like The Social Network, Eraserhead, The Witches of Eastwick, The Prestige, and X-Men were filmed.
But while the Sheats-Goldstein residence is known by many as Jackie Treehorn’s house or the Big Lebowski house, it’s been featured in quite a long list of other movies, including Charlie’s Angels: Full Throttle (2003), Star Time (1992), and Bandits (2001, starring Bruce Willis, Billy Bob Thornton, and Cate Blanchett).
It was also featured in music videos, including Doja Cat’s Say So, Nelly’s The Fix, Babyface’s We’ve Got Love, and Snoop Dogg & Pharell’s Let’s Get Blown.
SEE ALSO: Casa Loma in Toronto, another Hollywood favorite
The house is so impressive that in 2021, Kanye West aka Ye enlisted James Goldstein to help him design and spruce up his newly-purchased Malibu mansion.
The rapper was reportedly impressed and fascinated with the architecture of the Sheats-Goldstein house, and wanted to do something similar with his $57 million new home.
Unfortunately, those plans were put on hold, according to The Sun, after the star lost billions due to some very controversial remarks.
In the meantime, the residence is available for rent for photoshoots, and we’re willing to bet we’ll be seeing more of it in upcoming movies, TV shows, and music videos.
Decoding the mystery: Who is James Goldstein?
If you’re wondering, who the hell is this James Goldstein and why haven’t I heard of him before, unfortunately we don’t know a whole lot about him either.
Despite his flamboyant style and constant public appearances (he’s an avid NBA fan and attends as many matches as he possibly can), James Goldstein still remains somewhat of a mystery.
We know he grew up in Milwaukee and then moved to California to attend Stanford University, after which he got into real estate and started investing heavily in developing Century City in L.A. He’s always been into fashion, constantly in the front row at glamorous fashion shows, and he even has his own fashion line.
Back in the day, he’s also said to have had an affair with American actress, singer, and Playboy Playmate Jayne Mansfield, who was married to someone else at the time. Still, he never married, and he has no children, which is why the decision to donate his unique home to LACMA came naturally.
This is the first-ever architecture donation made to the Los Angeles County Museum of Art, and it’s surely one that will continue to inspire young architects, interior designers, and art and fashion aficionados for many years to come.
For now, James Goldstein is living his best, most glamorous life up in his hillside mansion overlooking the City of Angels.
What’s more, James Goldstein’s net worth is reportedly around $350 million – not a bad way to live life in your 80s, is it?
If you want to see more, take a virtual tour of the residence with Goldstein himself below:
All image credit goes to James Goldstein.com
Frequently asked questions
Who lives in the Sheats Goldstein residence?
Businessman James Goldstein has been the sole owner of the Sheats-Goldstein house since he purchased it in 1972. He continues to spend time at the residence, but also often rents it out for photoshoots or as filming location for Hollywood movies or TV shows.
Where is the Goldstein residence?
The Sheats-Goldstein house is located in the Beverly Crest neighborhood of Los Angeles, California, just up the hill from the Beverly Hills city limit. Due to its location, the house offers amazing views of the city, but is also very secluded.
How much is the Goldstein house?
The James Goldstein house was in a state of disrepair when the businessman purchased it in 1972 for $185,001. Nowadays, the property is reportedly worth roughly $75 million or more.
Can you visit the Sheats-Goldstein residence?
Unfortunately, the Sheats-Goldstein house is a private property, so it’s not open to the public. But, you can rent it out for photoshoots.
Where is the Jackie Treehorn house?
The Jackie Treehorn house from The Big Lebowski is, in fact, the Sheats-Goldstein residence, owned by elusive businessman James Goldstein. It’s located in L.A.’s Beverly Crest neighborhood and it’s a private property.
More stunning homes
Frank Lloyd Wright’s Ennis House (Featured in Blade Runner) is a True Architectural Marvel The House that Zaha Hadid Built: The Story of the Only Residence Ever Designed by “The Queen of the Curve” The Chemosphere House and 6 other striking John Lautner-designed homesAlicia Keys’ house is a Modern Architectural Masterpiece
Iowa is a growing, thriving state with plenty of things to offer residents. With so many choices available, it can be tough to decide on the best bank. Once you’ve made sure your bank of choice is insured by the Federal Deposit Insurance Corporation, there are other factors to look at, including whether you’ll find branches in your area and what fees you’ll be charged. This list can help you decide.
11 Best Banks in Iowa
Before you open a new bank account, take a look around at the best banks in your area. Here are a few to consider.
1. Hills Bank
Hills Bank has branches in the Cedar Rapids, Marion, Iowa City, and Mount Vernon areas, but you can access funds nationwide through thousands of SHAZAM and MoneyPass ATMs. There are three tiers of checking accounts, but Free Checking has no maintenance fees and no minimum balance requirements.
Fees:
No monthly fees
$27 overdraft fee
Balance requirements:
No minimum balance
No minimum opening deposit
ATMs:
Free at Hills, SHAZAM, and MoneyPass locations
No fee for out-of-network transactions
Interest rates:
Up to 0.40% on savings accounts
Up to 4.43% on fixed-rate CDs
Additional perks:
In-person banking services available at branches throughout Iowa
Competitive rates on CDs
2. Bank Iowa
Bank Iowa is an Iowa-only bank with branches in five areas, including Iowa City, but there are no branch-based banking services in Cedar Rapids. You’ll find five checking account options, including two with no monthly maintenance fee or minimum balance.
Fees:
No monthly maintenance fees
$35 overdraft fee
Balance requirements:
No minimum balance
$10 minimum opening deposit
ATMs:
Free access at Bank Iowa ATMs and SHAZAM locations nationwide
$2 for out-of-network withdrawals
Interest rates:
Up to 0.19% on savings
Up to 1.28% on money markets
Up to 2.56% on CDs
Additional perks:
Checking accounts come with complimentary identity theft services
Competitive rates on personal and home loans
3. GO2Bank
If an online bank can meet all your banking needs, GO2Bank might be the best bank. You can easily manage your funds through the mobile banking app, and you’ll also have access to a nationwide network of ATMs and retailers for deposits and withdrawals. As long as your paycheck is automatically deposited, you’ll pay no monthly maintenance fees, but otherwise, it’s only $5 per statement cycle.
Fees:
No monthly fee with direct deposit
$15 overdraft fee for every transaction not paid within 24 hours
Balance requirements:
No minimum balance
No minimum opening deposit
ATMs:
Free access at AllPoint locations nationwide
$3 for out-of-network withdrawals
Interest rates:
Up to 4.50% annual percentage yield on savings account
Additional perks:
Deposit cash at more than 90,000 retailers nationwide
Earn up to 7% cash back on gift card purchases
4. Regions Bank
If you limit your travel to the southern and Midwestern U.S., Regions Bank might be a contender for your business. This regional bank covers Iowa, along with Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
As long as you have at least one $500 check deposited directly each month, you can get free checking. But banking services like loans and a financial advisor upon request make this bank really stand out.
Fees:
$8 monthly (waived with qualifying activity)
$50 minimum opening deposit
Balance requirements:
$1,500 minimum balance or $500 direct deposit to qualify for free checking
$36 overdraft fee
ATMs:
More than 2,000 ATMs
$2.50 per withdrawal at out-of-network ATMs
Interest rates:
Up to 0.01% APY on savings
Up to 4.75% on CDs
Additional perks:
Wide range of banking products
Wealth management services available
5. Northwest Bank
Based in Spencer, Iowa, Northwest Bank is a family-owned bank with locations in both Iowa and Nebraska. Northwest is considered one of the best banks in Iowa for its quality customer service and great rates on checking. Currently, Northwest Bank is offering a $100 bonus on each new checking account as long as you sign up for new products like e-statements, Zelle, and BillPay.
Fees:
No monthly fee
$28 overdraft fee
Balance requirements:
No minimum balance
$10 minimum opening balance
ATMs:
Free at MoneyPass ATMs nationwide
$2 per withdrawal at out-of-network ATMs
Interest rates:
0.01% APY on qualifying checking accounts
.001% APY on savings
Up to 2.25% APY on money markets
0.03% on CDs
Additional perks:
$100 cash bonus to qualifying new accounts
1.50% cash back on debit card purchases ($8 limit)
6. Chime
Another online and mobile banking option is Chime, which offers all the amenities of bigger banks without the cost. Online banking options include a checking account with autosave features to help you meet your financial goals. Chime’s savings accounts offer 2% APY, which is competitive with what other banks in Iowa are offering.
Fees:
No monthly fee
No charges for overdrafts
Balance requirements:
No minimum balance
No minimum opening deposit
ATMs:
Fee-free at Allpoint and MoneyPass ATMs
$2.50 fee for each out-of-network ATM transaction
Interest rates:
2% APY on savings accounts
Additional perks:
Pay accessible up to two days early
Automatically round up each debit card purchase to build your savings account
7. CIT Bank
Another online banking option is CIT Bank, which has no local branches. CIT’s bank accounts come without monthly charges, including no overdraft fees, but there is a downside. CIT Bank’s ATM network is nonexistent. You’ll be reimbursed up to $30 a month in out-of-network costs, though.
Fees:
No monthly fee
No charges for overdrafts
Balance requirements:
$25,000 minimum balance or $100 monthly deposit
$100 minimum opening deposit
ATMs:
Up to $30 in ATM costs refunded per month
Interest rates:
Up to 0.46% APY on savings
Up to 1.55% APY on money market
5% APY on CDs
Additional perks:
Great rates on CDs
Savings Builder account motivates you to save at least $100 monthly
8. Fidelity Bank & Trust
Fidelity Bank & Trust is a community bank with a hometown feel. It has more than 30 branches in Northeast Iowa, Northwest Illinois, and Southwest Wisconsin. The bank offers robust online and mobile banking options, as well as money management help through its investment services team.
Fees:
No monthly fee
$30 overdraft fee
Balance requirements:
No minimum balance
$50 minimum opening balance
ATMs:
Free at Fidelity Bank locations across Northeast Iowa
Free at SHAZAM ATMs nationwide
Interest rates:
0.05% APY on qualifying checking accounts
0.05% APY on savings
Up to 0.50% APY on money markets
Up to 4.77% on CDs
Additional perks:
myPIC debit card lets you add your photo to your card
Specialized Christmas and children’s savings account options available
9. Bank of America
Even though it’s a large national bank, Bank of America brings some of the benefits you get from a small bank. Customers can enjoy fee-free account types as long as they sign up for Preferred Rewards. But one of the biggest benefits is the nationwide network of branches and ATMs.
Fees:
$12 monthly fee (waived with qualifications)
$10 overdraft fee
Balance requirements:
$1,200 minimum balance or qualifying deposits to waive fee
$100 minimum opening balance
ATMs:
Free at Bank of America ATMs nationwide
$2.50 fee for each out-of-network ATM transaction
Interest rates:
0.04% APY on savings (with preferred rewards)
Up to 4.20% on CDs
Additional perks:
In-person service at branches and with virtual assistant at ATMs
Preferred Rewards programs offer discounts on accounts and loans
10. Bankers Trust
Based in Des Moines, Bankers Trust has banks in Iowa and Arizona. There are multiple accounts to meet your banking needs, including some checking accounts with tiered interest rates. New customers may be eligible for a $250 bonus by choosing a participating checking account.
Fees:
No monthly fee with at least 12 debit card transactions
$10-$30 overdraft fee
Balance requirements:
No minimum balance
$25 minimum opening deposit
ATMs:
Fee-free at Allpoint and MoneyPass ATMs
$2 fee for each out-of-network ATM transaction
Interest rates:
Up to 0.60% on checking
Up to 1.45% on savings
Up to 4.55% on CDs
Additional perks:
$250 bonus for new BreakFree or Direct Checking account
Education center provides training and information
11. MidwestOne Bank
If customer service is a priority, MidwestOne Bank is one of the best banks in Iowa. This regional bank has 45 branches across Iowa, as well as Minnesota, Wisconsin, Colorado, and Florida. You’ll also find great rates on auto and personal loans with MidwestOne.
Fees:
No monthly fee
$35 for overdrafts
Balance requirements:
No minimum daily balance
$100 minimum opening deposit
ATMs:
Fee-free at MoneyPass ATMs
$1 fee for each out-of-network ATM transaction
Interest rates:
Up to 0.75% APY on savings
Up to 1.00% APY on money market
Up to 2.47% APY on CDs
Additional perks:
Bank Your Change automatically rounds up debit purchases to put toward savings
Competitive rates on personal loans
Bottom Line
The best banks in Iowa offer great customer service and easy access to your funds. To ensure you make the right choice, consider not only these factors, but also the range of financial products, convenience, and technological innovation each bank provides. As you compare different banks, keep in mind your specific financial needs, preferences, and goals, such as low fees, high interest rates, or specialized services.
Once you’ve found the best bank, it’s essential to regularly review your account and stay informed about new offers and changes in rates and amenities. By doing so, you can maximize your financial benefits and adjust your banking relationship as your needs evolve. Ultimately, the best bank for you will consistently deliver on all fronts, helping you achieve financial stability and success in Iowa.
Appraiser, ECOA, Video Marketing Products; Conventional Conforming News; What Has Driven Rates Higher?
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Appraiser, ECOA, Video Marketing Products; Conventional Conforming News; What Has Driven Rates Higher?
By: Rob Chrisman
Fri, May 26 2023, 11:12 AM
Did you know that wheat futures prices are at a 2-year low? And lumber prices continue to drop? Those numbers should help reduce inflation. During the conference in NY there was plenty of talk about external influences such as price increases on residential lending. But there are also plenty of issues within our biz that face lenders daily. For example, signing bonuses continue, albeit at a slower rate. Perhaps some of the economic bloom is off the bonus rose? Big signing bonuses come with big handcuffs. It stinks when a competitor takes your production but not your overhead, right? With the help of technology and tracking, a lender’s management can, more than ever, determine whether a given branch or LO is making money for the company, or is merely a source of concessions and extensions. Recruiters sometimes talk of the “greater fool” theory when bad LOs or branches move on to another lender. (Today’s podcast can be found here and this week’s is sponsored by Black Knight. From point-of-sale through post-closing, the company’s trusted loan origination system, Empower, as well as its integrated, end-to-end origination solutions deliver unmatched capabilities, functionality, and support to increase processing efficiencies and lower operational costs for lenders. Hear an interview with Polunsky Beitel Green’s Stacey Maisano on women in the mortgage industry and getting the younger generation involved.)
Lender and Broker Products, Software, and Services
Loan officers, if there was an easy button for creating incredible video marketing content on social media, would you press it? Now you can thanks to Video Catalyst by SocialCoach. Say goodbye to the days of wondering what to say, what equipment you’ll need, and how you’ll edit. With Video Catalyst, we’ve made it easy to create compliant, scroll-stopping, professional-grade videos in record time. Here’s how: We write four fresh, relevant (and compliant) scripts for you every month. You simply read the scripts while recording the video from your smartphone and then send it back to us for professional editing, which includes the addition of music, dynamic captions, gifs, and emojis. We then post it to your account for seamless sharing. That’s it. You press record, we do the rest. Want to see how Video Catalyst can unlock the power of video marketing for your business? Check it out here.
Calling all compliance managers! Imagine if you could complete your ECOA/Reg-B Process in the time it takes you to read this blurb. Imagine saving thousands of dollars and hundreds of hours by not working on your ECOA process. Sounds like a dream, right? Well imagine no more! Velma Connector is here to make your compliance dreams come true. Connector automates the whole ECOA process and can do the work of multiple team members, making sure you never miss another NOIA notice, which means never having to worry about a costly fine ever again! If you’re ready to start saving all that time and money, contact Velma today and ask us how we can get you a 300 percent ROI in just the first year!
Is your appraisal vendor performance below average? Book a complimentary appraisal vendor performance consultation with Reggora’s Chief Operations Officer, Alek Roberts, to see how your vendors stack up. You’ll see how your vendors perform relative to industry average turn times, revision rates and fee escalation rates. You’ll also see data on how that impacts your overall origination process, including if and how your operating costs are higher than they need to be. Book now
Investors and Lenders Adjust Their Conforming Conventional Offerings
United Wholesale Mortgage announced enhancements to its Conventional 1 percent Down product, allowing borrowers with less than 80 percent of the area median income (AMI) to qualify. Those who qualify will put down 1 percent of the loan towards their down payment and UWM will then pay a 2 percent grant up to $4,000, for a total down payment of 3 percent.
Rocket Mortgage and Rocket Pro TPO have introduced ONE+ by Rocket Mortgage, a 1 percent down home loan program that is available for qualifying homebuyers whose income is equal to or less than 80 percent of their area median income (AMI) for single-family homes, including manufactured homes. Rocket Mortgage provides a 2 percent grant towards the down payment. ONE+ completely covers the monthly mortgage insurance fee for the client. Partner with Rocket Pro TPO to take advantage of ONE+ today!
Pennymac updated Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Monday, May 15. Details are available in Announcement 23-34.
The Federal Housing Finance Agency (FHFA) announced the rescission of the DTI ratio-based fee. As a result, Pennymac updated the Best Effort rate sheet effective for all Best Effort Commitments taken on or after Thursday, May 11th. Details were posted in Announcement 23-23: Updates to Conventional LLPAs.
Pennymac is aligning with Freddie Mac’s credit underwriting update, announced in Bulletin 2023-6, adding a requirement that a non-occupant borrower may not be an interested party to the transaction (i.e., the builder, property seller, real estate agent or broker, etc.) This new requirement is effective with loan deliveries on or after 7/3/23. View the Penny Mac Announcement 23-32 for additional information.
Citi Correspondent Lending Bulletin 2023-04 includes credit policy updates on Agency loans appraisal waivers, life insurance net cash value on Non-Agency Jumbo loans and clarifies subordinate financing applicable to Non-Agency Jumbo.
PRMG Product Update 23-26 includes clarification on multiple products. Conventional Products requirements regarding use of business funds in the transaction a cash flow analysis, underwriting review requirements when obtaining prior approval from VA, Alternative AUS Jumbo clarification for properties in a declining market, program fee requirements on CA CalHFA Products, and mortgage insurance coverage requirements on CO CHFA Preferred Plus Conventional.
Many banks are stressed and are not lending. Flagstar Bank has money, is lending and actively looking for SBA 504 loans now. This includes General Purpose Properties, Conventional portion minimum $750,000, 2 years tax return debt service. CA, NV, NY with more states to come, Small Construction work is acceptable with no more than 20 percent of the project including the interim loan and permanent loan, 51 percent or more owner-user commercial. With Prime now at 8.25 percent, it is time to look at a long-term fixed 504 purchase or refinance. You can now refinance a 7(a) loan (or conventional) with an SBA 504 and maybe even get some additional cash out for business purposes.
Citizens Correspondent National Bulletin 2023-12 includes information on Condo Project Manager Update – DU.
Freddie Mac Bulletin 2023-9 announced multiple Selling Guide changes, including updated requirements related to property appraisals and condominium projects. For impacts on AmeriHome guidelines, see Product Announcement 20230504-CL for details.
With Guide Bulletin 2023-11, Freddie Mac announced multiple Selling Guide changes, including updated requirements related to IRS installment agreements and real estate tax abatements and exemptions. For impacts on guidelines, see AmeriHome Product Announcement 20230508-CL for details
Capital Markets
Keep two things in mind. The markets, and individuals, don’t like uncertainty. But the future is always uncertain. Second, economic doldrums lead to lower rates. But rates rose again yesterday as the clock wound down on the window for debt ceiling negotiations, with a potential U.S. default looming on the horizon. If the U.S. defaults on its debt, higher mortgage rates are a potential risk facing the economy.
How quickly we’ve moved on from the banking crisis, though loan officers should keep credit tightening in mind. Most banks, including those that failed, own 30-year fixed rate mortgage-backed securities. Those MBS prices have fallen the most with the Fed’s sharp run-up in rates, making it likely that banks will buy far fewer MBS (and jumbos) going forward, decreasing demand, widening spreads further, and generally causing mortgage rates to go higher. Rates have been on the rise as of late, and while some of the movement can be attributed to “hawkish” comments from the Fed, the shift higher appears to be global: The German Bund, Japanese Government Bond, and UK Gilt have all moved higher in lockstep.
Investors see the Fed cutting rates this year, even with Chair Powell and his fellow FOMC members doing their best to convince Wall Street that they’re serious about inflation and that no such thing will happen. In fact, recent Fed messaging has been that we may not be done with rate hikes just yet. After 500 basis points of interest rate hikes over the past year, it’s true that the Fed is close to the end of this hiking cycle, at least for the short-term. However, we could see a major sell-off in stocks and bonds if investors succumb to the Fed in this “tug of war” over the central bank’s monetary policy moves in the second half of this year and admit that multiple rate cuts in 2023 aren’t in the cards.
Chatter out of the MBA’s conference in Manhattan (in addition to more companies shuttering and frustration over repurchases) included delinquencies picking up for various credit types, volatility driving spreads wider, MSR valuations pricing the impact of buyer burnout, and mortgage credit availability continuing to decline. The collapse of three mid-size US banks and the forced marriage of Credit Suisse to UBS pushed lending standards to tighten across the board, especially for commercial real estate and residential lending.
For residential, the tightening was more pronounced in jumbo and non-QM as opposed to GSE and government loans. Banks becoming more cautious on risk has also led to standards tightening on multi-family, by increasing spreads, raising covenants, and lowering LTVs. Loan demand is also falling (including for HELOCs and other residential real estate loans), while the lending standards are getting tighter, typical for an economy that is poised to enter a recession.
These tighter lending standards exist at a time when there are few homes for sale. The reasons for the scarcity of existing home sales are well known at this point: Lack of inventory, elevated home prices, and half of all mortgaged homes having first-lien interest rates at or below 3.5 percent while rates continue to rise. Those elements are unlikely to change anytime soon. Supply constraints are a familiar topic of discussion with millions of Americans content to keep their rate and not sell anytime soon, and, coupled with today’s homebuyers being exceptionally interest rate sensitive, as most won’t accept a rate higher than 5.5 percent, and it’s not a good recipe for lenders.
If mortgage rates fall somewhat, we still have an affordability problem, even with rising wages. Homebuilding will eventually rebound and help this issue, but the rate of decreases in the backlog reported by the builders and elevated cancellation rates don’t bode well for an imminent change.
Shifting to the intra-day price moves, despite today’s early close ahead of the long Memorial Day weekend, several key economic releases will be out and could sway the Fed’s thinking regarding further rate increases. We’ve already received personal income and spending for April (+.4 and +.8 percent, respectively, core PCE +4.7 percent year over year), and durable goods orders (+1.1 percent, ex-transportation -.2 percent). Expectations were for income and spending increasing 0.5 percent and 0.4 percent month-over-month, respectively, with the Core PCE Price Index increasing 0.3 percent month-over-month and 4.6 percent year-over-year. Later today brings Michigan sentiment before fixed income futures settle at 1pm ET and cash markets close at 2pm per SIFMA’s recommendation. We begin the day with Agency MBS prices worse by a few ticks (32nds), the 10-year yielding 3.82 after closing yesterday at 3.81 percent, and the 2-year is at 4.56 after the strong, anti-recessionary, data this morning.
Employment
A Louisiana based full-service, independent mortgage banker averaging $1 billion in production annually is searching for a proven retail sales leader to run all business development initiatives. The Sales, Recruiting, and Marketing departments will report directly to this head of business development role, and the role will report directly to the CEO. The ideal candidate will have a demonstrated track record of hiring and managing multiple production offices across several states. The IMB is well capitalized, has agency direct approvals, offers niche products, significant technology advancements and a world-class operations team with experienced, tenured sales and fulfillment employees. For confidential consideration, please email resume to Chrisman LLC’s Anjelica Nixt.
“Logan Finance is blessed to see such incredible growth recently. As we keep count of all the units that drive our business, it’s easy to lose sight of all the military units and those individuals who served throughout history to help afford us all the possibilities we have today. As we think of Memorial Day, we should celebrate it as a day that honors all these great opportunities and focus on those who have made the ultimate sacrifice to protect the freedoms we should never lose count of. From the Logan family to yours, ‘Happy Memorial Day.’”
As a mortgage sales professional have you ever thought, “What if I could focus on only the things that actually grow my business, flipping the hourglass and spending 80 percent of my time on what I do best: building relationships?” Or “What if I could surround myself with sales support that is truly team inspired, results driven marketing and customer obsessed headache-free process?” Welcome to radius financial group! They started radius with one main focus: to offer a better value proposition than any other bank or mortgage company in the country for you, your borrowers and your referral partners. radius can help you grow your business, have a better quality of life, and make more money. For confidential inquires please contact Carla Herrera.
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