ENB Insights

Multi-generational living is defined as adults from multiple generations living in the same home. This form of living is on the rise in the U.S. after declining for years and a record 60.6 million Americans live in multigenerational households according to data from Pew Research Center. Reasons include growing racial and ethnic diversity in the U.S., more young adults living at home, economic necessity and a larger percentage of the US population over age 65.  Whatever the reason that may be causing you to consider multigenerational living with some planning, you can make this living arrangement work for everyone.

As Americans kick off the spring season by cleaning, sorting and tidying up around the house, Ephrata National Bank is encouraging consumers to add financial organization to their spring cleaning to-do list. To help, Ephrata National Bank has highlighted six tips for organizing your financial house. 

If you have never applied for a mortgage, getting started can seem daunting.  Fear of the unknown can even cause first-time homebuyers to put off looking for a home, even when they can afford one. This is completely understandable since it will probably be the biggest purchase you’ll make in your lifetime. To take some of the worry away, we have broken down the entire process into six easy steps so you can make your dream of home ownership a reality.

With the 2018 tax season underway, all customers should take extra precaution when filing their return to prevent their exposure to tax fraud.

With interest rates rising, like they have over the past year, borrowers with variable rate Home Equity Lines of Credit tend to start thinking about how they can convert to a fixed rate to avoid further increases in the interest they have to pay on their outstanding balance.

When deciding to take out a Home Equity Line of Credit, one of the first things someone will research is the rate they will pay. As they research rates offered by various lenders, they often learn that more and more banks offer what is called risk-based pricing, which then prompts the question, “What exactly is risk-based pricing?”

You’ve spent weeks, even months searching for your dream home.  You’ve viewed countless listings with your realtor and attended several open houses on your own.  Finally, your hard work has paid off.  You’ve found the home of your dreams and it falls with your budget; however, reality now sinks in.  You’re going need to sell your current home in order to make the down payment on the new one and the fear that your dream home will be sold to someone else while this happens becomes real.

If you’re looking to borrow a Home Equity Loan or Line of Credit, the term debt-to-income ratio is likely to come up. This is a major consideration when a lender is evaluating a credit application. You'll want to be sure to know what it means.

As banking online continues to grow in popularity, so do the methods in which criminals attempt to commit fraud and scams to obtain information that will allow them to gain access to your accounts.

For the first time in over a decade more people are choosing to buy a home rather than rent.   An improving economy, low interest rates and rising costs of rent have all factored into this change; however, it can be argued that the real driver behind making home ownership the more attractive option is simply the fact that building home equity is a sound financial decision.