What is a Money Market account? A money market account is an interest bearing account that typically earns higher interest than a traditional savings account. The advantage of a money market savings account is the ability to earn a higher interest rate, insurance protection and the ability to write checks and use a debit card….
How much is required for a down payment on a house? How much money you need for a down payment on a house depends on your budget and what type of loan you apply for. You may have heard that 20% down is what you need, but that is simply a preferred number, not a…
What is auto refinancing? Auto refinancing is when you replace your current automobile loan with a new loan that has better or different terms. The new loan pays off your original loan and you open a new loan with new paperwork, a new loan rate and new terms and conditions. When to Refinance Your Car…
Mortgage Refinancing Basics What is refinancing? A mortgage refinance is when you replace your current mortgage with a new mortgage. There are many reasons why homeowners may want or need to refinance: To shorten the terms of their current mortgage. To get a lower interest rate than their current mortgage. To use the equity of…
Malware, otherwise known as malicious software, is a type of fraud that uses viruses, spyware, or other software to intentionally damage a computer, server, device or computer network. Criminals use malware to steal personal information, commit fraud, send spam or monitor and control online activity. There are many different types of malware, including spyware, viruses,…
Types of Construction Loans A variety of constructions loans are available to homebuyers. It all depends on your specific situation. If you want to shop around and potentially use more than one lender, then getting two separate loans (one for the construction and then a second to pay off the construction loan and put the…
If you are an active or retired United States military service member, you can likely get help buying or refinancing a home. The Department of Veteran Affairs (VA) Loan helps current and former military members get better mortgage terms than you would with a private lender loan. Eligibility Requirements for VA Home Loans You may…
Not every state requires home inspectors to obtain a license to do home inspections. Before you hire someone, check the home inspection requirements in your state. Your real estate agent will likely recommend a few inspectors, but you should call and interview them before hiring. Ask for references and a sample inspection report. Find out…
‘Tis the season for shopping, gifts, cheer and scams. Scams? That’s right; every year fraudsters prepare to take advantage of unsuspecting shoppers. Fake ads and websites try to lure you into spending for items you may never receive. Imposter charities tug on your heartstrings to get a donation. Gift cards are duplicated or stolen before…
What is Escrow? As a homeowner, you are responsible for expenses beyond your mortgage payment such as property taxes, homeowner insurance and mortgage insurance. Put simply, an escrow account is set up by your lender and helps you budget for these expenses by including them in your monthly mortgage payment. How Does Escrow Work? First,…
Understanding Closing Costs Now that you have found the perfect home, it is time to tie up all the loose ends and finalize the sale. Part of this process is to pay your closing costs. Closing costs can be a surprise, as they are more than most buyers expect, especially first-time homebuyers. With a good…
Forbes magazine named RCB Bank as the best bank in the state of Oklahoma in 2020. Nearly 25,000 consumers took a survey to discuss their current and former banking relationships. Based on consumer answers, RCB Bank ranked first in the state of Oklahoma based on its advantages in customer service, accessibility and financial advice. Banks…
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The Bank will be closed on Monday, October 12th in honor of Columbus Day & Indigenous Peoples’ Day. Click here for a list of all holiday closings.