Financial Services

Financial Services Services

Tips for selecting a local bank

Around here, you have many options to help you manage your money. It’s important to think about your particular needs and financial goals when selecting a bank in your new community.

“A local bank enhances the experience of a new community,” said Kevin Thompson, Frost Bank market president in Boerne. “It helps a place feel like home. Research shows that a majority of Americans still choose a bank based on proximity to where they live.”

The Federal Deposit Insurance Corporation (FDIC) has developed a series of helpful questions to consider before choosing a financial institution. the needs of area residents,” Garza said. Some banks are publicly-traded institutions. Others are privately owned, including Jefferson Bank, which has been op-

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Do you receive a fixed paycheck or pension on a regular basis, or does the amount and frequency of your income vary? Do you prefer to make purchases using cash, credit cards, debit cards, paper checks or online? Do you set aside money regularly for savings? Are you concerned about possible overdrafts and the fees you might incur as a result?

“The more specialized or variable a person’s financial needs, the more a local bank relationship makes sense,” Thompson said. “But even if a person’s financial life is automated, it’s often comforting to have a personal bank connection when the unexpected happens.”

Julia Garza, vice president and banking center manager of Jefferson Bank in Boerne, says that when it comes to banking, “keeping it personal” is important. AT FROST, HIGH-TECH

MEETS HIGH-TOUCH.

Visit us at 1300 South Main St in Boerne or call (800) 51-FROST.

From page 13 erated by the same family since its founding in 1946. “It’s good to know who you’re doing business with.”

CHECKLIST

• Does the bank offer all the services I need? • Does it have convenient branches and ATMs? • Is it insured by the FDIC? • Requirements for opening an account?

CHECKING ACCOUNTS

• Is there a minimum opening balance? • Minimum monthly balance to avoid fees? • Number of withdrawals per month without a fee? • Earns interest? • Deposit hold times?

OVERDRAFT PROGRAMS

• Are low balance alerts offered? • Overdraft fees? • Link to a savings account to cover overdrafts?

SAVINGS ACCOUNTS

• Is there a minimum opening balance? • Minimum monthly balance to avoid fees? • Annual percentage yield (APY)? • Withdrawal limits per month?

ATM / DEBIT CARDS

• Are there fees? • Location/number of ATMs? • Debit card transactions requirements or limits?

MOBILE/ONLINE BANKING

• Is it available? •Transaction types and limits? • Online bill pay?

Source: FDIC

A Personal Welcome to Kendall County.

BANKING

MORTGAGES

For 75 years, we’ve been honing the craft of delivering contemporary banking services with an emphasis on exceptional personal service. We welcome you to discover how we can be of service to your family.

TRUSTS

WEALTH MANAGEMENT

INSURANCE

371 N. Main St. (830) 816-6300 JeffersonBank.com

Investment and Insurance Products are: Not insured by the FDIC or any Federal Government Agency Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Understanding home loan options

Not all home loans are the same so understand how your choices affect your monthly payment, overall costs both upfront and over time, and level of risk.

The term is how long you have to repay the loan. This affects your monthly principal and interest payment, interest rate, and how much interest you will pay.

INTEREST RATE TYPE

Interest rates come in two basic types: fixed and adjustable. This choice affects whether your interest rate can change, if your monthly payment can change and its amount, and how much interest you will pay over the life of the loan. Your monthly payments are more likely to be stable with a fixed-rate loan, so you might prefer this option if you value certainty about your loan costs over the long term. With a fixed-rate loan, your interest rate and monthly payment will stay the same. Adjustable-rate mortgages (ARMs) offer less predictability but may be cheaper in the short term. Your interest rate changes based on the market. Most ARMs have two periods. During the first period, your interest rate is fixed and won’t change. Then, your rate goes up and down based on market changes. Most ARMs have a 30-year loan term.

CATEGORIES

Mortgage loans are organized into categories based on the size of the loan and whether they are part of a government program. This choice affects how much you will need for a down payment, the total cost of your loan, including interest and mortgage insurance, how much you can borrow, and the house price range you can consider. Loans are subject to basic government regulation. Generally, your lender must document and verify your income, employment, assets, debts, and credit history to determine whether you can afford to repay the loan. Source: Consumer Financial Protection Bureau. www.consumerfinance.gov

MORTGAGE LOANS

FROM YOUR HOMETOWN BANK

JUMBO MORTGAGES • Luxury homes on lots or acreage • Purchase money and refinance loans • One-time close construction to perm loans • Vacation homes • Competitive interest rates • Personalized service and underwriting that stays local CONVENTIONAL MORTGAGES

• Loans conform to standards set by government agency -

Freddie Mac & Fannie Mae • Long term fixed-rates • Personal local Loan Officer • Fast & competitive

TexasHeritageBank.com

All mortgage loan applications subject to underwriting. Terms, conditions and interest rates may change without notice. Texas Heritage Bank mortgage loans are made without regard to race, color, religion, national origin, sex, handicap, or familial status.

BOERNE Chris Harthcock, VP NMLS 1852949 830-249-3955 SAN ANTONIO Ed White, SVP NMLS 1549600 Mark Blankinship, SVP NMLS 1549601 210-698-8100