Skyla Credit Union Blog

If you already contribute to a 401(k) through your employer, you might wonder whether opening an IRA is even necessary.

Choosing between a Roth IRA and a Traditional IRA can feel like a big decision, especially if you're opening your first retirement account. The good news? You don't have to be an investing expert to understand the differences.

Retirement can feel like one of those things that's easy to put off. After all, if retirement is decades away, why think about it now?

Whether you're a prospective home buyer or just curious, you've probably wondered what it takes to qualify for a mortgage. When getting a loan, credit score, your debt-to-income ratio, and down payment amount play a factor in getting approved with a good interest rate and monthly payment.

Ok, be honest - how many times have you attempted to do a debt paydown plan but it fell through the cracks or it was too hard to stick with? Maybe because the amount of debt is too exhausting to deal with or perhaps it’s the realization that it’s going to take a really long time to pay it off. So postponing your pay-down plan for a later date probably feels like an easier decision.

Credit. It's a scary topic. Mainly because so many things can surprisingly ruin your credit scores, such as late or missed payments, applying for more credit cards, carrying high credit card balances, ignoring your credit report, and more.

You may have heard the term "adjustable-rate mortgage" (or "ARM"). But what exactly is it? And should you consider getting one?

A fixed-rate mortgage is a mortgage product that has a set interest rate for the life of the loan. Most financial institutions like Skyla offer 15-&-30-year fixed-rate mortgages.

A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). Conforming loan limits are updated annually and may vary depending on the location of the property. As of 2025, the baseline conforming loan limit for most areas is $806,500, although higher limits may apply in certain high-cost housing markets. Jumbo loans are available in both fixed-rate and adjustable-rate mortgage options, allowing borrowers flexibility when financing higher-priced properties.