I'm Moving…Now What?
Moving is both an exciting and stressful life change. Learn about how Beneficial's products may be able to help you in your move.
Whether you're moving across the street or across the country, moving can be both an adventure and a chore, especially when it comes to finances. Here are some tips to make your move smoother from a financial point of view.
Get organized. If you haven't done so already, now is the time to organize your financial paperwork to make sure that important papers don't get lost in the move. Find a system that works for you and follow it.
Update your personal information. Make sure that all of your personal information reflects your new address and contact information. Contact any loan lenders, mortgage lenders, credit card lenders, banks, insurance companies, or investment groups, for example, and let them know that you are planning to move. Also, line up new financial service providers in the area you plan to move to.
Line up financing for your new home. If you haven't done so already, it's a good idea to line up the financing for your new home before you start looking at new homes. If you currently have a mortgage, talk to your current mortgage lender about financing for your new home. If your current mortgage lender doesn't do business where you plan to move to, ask your lender to recommend lenders who do business in that area.
If you plan to keep your current home, look into refinancing. If you decide to keep your current home as a rental property, for example, look into refinancing. Depending on your situation, refinancing may be able to lower your monthly payment or interest rate. Visit our Mortgage Refinance page to learn more about our refinancing loans.
Look into a home equity loan or home equity line of credit for help with moving costs. If you have enough equity in your new or current home, you may be able to use a home equity loan or line of credit to help with your moving expenses. Visit our Home Equity page to find out more about our home equity loans.
Don't forget about a personal loan. If borrowing against your home equity is not an option for you, a personal loan may be able to help you with moving costs. Visit our Personal Loan page to find out more about our personal loans.
Make a new start with debt consolidation. Debt consolidation may be able to help you free up extra money to help with moving expenses and make a new financial start. Visit our Debt Consolidation page to find out more about our debt consolidation options.
Protect yourself. Make sure that you get any promises or details about any financial transaction in writing, read everything carefully before you sign it, and ask a legal or financial expert to help you understand anything that isn't clear. Avoid signing anything that you don't understand or that seems too good to be true or too easy to do.
Contact us to see if Beneficial can help you meet your financial goals.
These are general recommendations not applicable to all financial situations. Every financial situation is unique. Further, the suggestions and recommendations contained within the content provided are not an assurance of any future result. Be sure to discuss your specific financial circumstances with a legal or financial expert before you take action. Contact us for more information.
