Borrowing and Credit


First Southern National Bank has partnered with Banzai to bring you clear, in-depth lessons to help you dive into the financial topics you care most about.

Understanding Your Credit Score

2023-03-31T17:46:25+00:00April 14th, 2023|

Understanding Your Credit Score Your credit score is a crucial factor that lenders, credit card companies, and other financial institutions use to evaluate your creditworthiness. A high credit score can make securing loans, credit cards, and other financial products easier at lower interest rates. All these numbers can be confusing; let us explain

Using Credit

2021-11-09T19:48:09+00:00November 9th, 2021|

Borrowing money makes it possible to afford things that you couldn’t otherwise, but make sure you understand what you’re signing up for to avoid falling into overwhelming debt. Paying it Back Let’s be clear right from the beginning: when you pay for something with credit, you’re still on the hook for that money.

Student Loan Early Payoff Calculator

2021-11-04T15:42:51+00:00November 4th, 2021|

Student Loan Payoff Calculator HOW IT WORKS By adding just a bit to your monthly student loan payment, you can greatly reduce the time it takes to pay off the loan as well as lessen the amount you pay in interest. This calculator will demonstrate how much time and money you can save by adding a certain amount

HELOC Calculator

2021-11-04T15:26:25+00:00November 4th, 2021|

Home Equity Line of Credit Calculator HOW IT WORKS A HELOC (Home Equity Line of Credit) is a line of credit that allows you to tap into your home’s equity and borrow against it. This calculator will help you estimate the limit you could be approved for. Start by entering the value of your home. Next, enter the

What Auto Loan Can I Afford?

2023-09-20T16:32:18+00:00November 4th, 2021|

Coach: What Auto Loan Can I Afford? HOW IT WORKS You need a car, but how much can you actually afford? This Coach starts by walking you through a doable monthly payment, based on your income and expenses, then shows you a purchase price range that fits your budget. You’ll learn more about auto loans and

Mortgage Application Checklist

2023-09-15T16:35:05+00:00November 3rd, 2021|

One of the most tedious parts of home buying is gathering the right documentation, but prepping beforehand makes it that much easier. The documents required for a mortgage application can be categorized by type: Proof of Income/Employment, Proof of Assets, Credit History, and Residential History. These give potential lenders a

Best Practices for Using a Credit Card

2023-09-15T16:45:51+00:00September 28th, 2021|

By properly managing a credit card, you can earn rewards and build your credit score, all while making your regular purchases. Get the Right Card The first step to best using a credit card is to get the right one. That means doing your research. You should consider your spending habits and priorities

4 tips on how to pay for home renovations

2021-06-18T12:25:37+00:00June 16th, 2021|

Most home renovation projects are done in the spring and summer, and we have some helpful advice on how to pay for them! Summer is here, and you might be noticing some things you would like done around the house. From simply painting the living room a new color or building a porch

What a Car Loan Costs

2023-09-15T16:53:46+00:00May 12th, 2021|

When shopping for a car, it's usually best to start by shopping for a car loan. WHAT A CAR LOAN COSTS When you’re shopping for a car loan, remember that what it costs you to borrow depends on three things: The finance charge expressed as an annual percentage rate (APR) The term,

Personal Bankruptcy

2021-06-08T19:25:15+00:00April 16th, 2021|

Bankruptcy is a tool that can help you find financial stability—as a last resort. Understanding Bankruptcy Congress created the Bankruptcy Code, a breakdown of ways a debtor can plan to get out of debt when their creditors are trying to collect. The option to file for personal bankruptcy is there to help a

  • Woman buying the car.

Auto Financing Calculator

2021-04-16T02:01:48+00:00April 16th, 2021|

Low Rate vs. Cash Back Auto Financing Calculator HOW IT WORKS When buying a car, you may be faced with either a cash-back incentive or a lower interest rate. This calculator outlines the total amount you’ll pay with either option, comparing total savings.Enter the price, down payment, loan term, and interest rate (not the low offer rate) for

Personal Loan Calculator

2021-04-16T01:56:30+00:00April 16th, 2021|

Coach: Personal Loan Calculator HOW IT WORKS Ultimately, you can reduce how much you pay toward your personal loan, if you calculate the right amount of money to pay each month. This calculator will help you see how long it will take to pay off your personal loan using your loan’s interest rate and the amount owed.First, enter

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