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Your home is one of the biggest investments you’ll ever make, and refinancing your mortgage can be a smart financial move — if done correctly. Whether you’re looking to lower your monthly payment, reduce your interest rate, or tap into your home’s equity, refinancing can help you achieve your financial goals. At Middlefield Bank, we’re here to make the refinancing process easy to understand. This guide will walk you through how refinancing works, when it makes sense,...
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When you’re thinking about buying a home, one of the key factors lenders consider is your debt-to-income (DTI) ratio. But what exactly is this ratio, and why does it matter? In this post, we’ll break down everything you need to know about DTI, including how to calculate it, why it’s important, and how it impacts your mortgage or home loan application. What Is Debt-to-Income Ratio? Your debt-to-income ratio is the percentage of your monthly gross income that goes towards paying...
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As the fall season ushers in cooler temperatures and colorful foliage, it’s also the perfect time to think about how you can harvest the value of your home. If you’ve built up equity in your property, you have a valuable financial resource at your disposal. But how can you make the most of it? Let’s take a look! Understanding Home Equity Home equity is the difference between your home’s current market value and the remaining balance on your mortgage. Over time, as you...
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The journey to owning your dream home is an exciting one, but it comes with an important decision: should you build a new home from the ground up or buy an existing one? Both options have their advantages and challenges, and the right choice depends on your personal preferences, timeline, and budget.  The Case for Building Your Dream Home Building a home from scratch is a thrilling prospect, allowing you to create a space that’s truly your own. Here are some reasons why building...
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Welcome to The Middlefield Banking Company, where dreams of home ownership come true with our exclusive mortgage solutions! As you embark on the exciting journey of purchasing your dream home, Middlefield is here to guide you every step of the way. Our home loan program offers a range of mortgage products designed to suit the unique needs of homebuyers. In this blog, we will explore the insights and benefits that Middlefield's mortgage options bring to the table.  A Mortgage with Middlefield 1....
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There are so many benefits to being a homeowner. A huge benefit of homeownership is the ability to utilize your home’s equity as a secret weapon. A home equity line of credit (HELOC) provides a convenient way for homeowners to access funds for various purposes, such as home improvements, debt consolidation, education, or unexpected expenses. In today’s blog, we’ll give you the basics of a HELOC and the best instances to tap into your home’s equity!  What Is a...
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As the warm weather approaches, it's the perfect time to consider sprucing up your home! Just like the seasons, home renovation trends are always evolving. Keep reading to discover five of these trends and gain some tips to make your home renovation project a triumph! 2023 Trends  1.     Energy Improvements  With inflation over the last few years causing living expenses to surge, enhancing home energy efficiency will be a prevalent trend.  By adopting...
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As a homeowner, it is important to understand your home’s value and make decisions that will help you build up equity in your home. Your home’s value can be determined by many different factors, including location and the economy. In 2023, make it a priority to boost your home’s value! Continue reading to find out more.  Upgrade Your Exterior   o   When it comes to property value, the first thing that anyone will notice is the exterior of your...
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A Home Equity Loan and Home Equity Line of Credit are both loans that use your home as collateral. Though they are very similar, they are different loans. Keep reading to learn what a Home Equity Loan and Home Equity Line of Credit are, their differences, and their benefits!  What Are They and How Do they Differ?  A Home Equity Loan or a Home Equity Line of Credit, commonly known as a HELOC, are both loans which use your home as collateral. Both are fantastic options for borrowing...
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As winter closes in, take advantage of the change in season by creating your very own winter bucket list! Here are some quick and easy cold-weather activities to keep you, your friends, and your family busy this winter.   Host a Tailgate Party   ‘Tis the season for yummy food and FOOTBALL! Hosting a tailgate party to cheer on your favorite team is a great excuse to get together and eat some yummy food! Need a dish? Include one of these game-day recipes or incorporate...
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