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Financial Planning


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GMB Blog

Important Information on the COVID-19 Virus Situation

In conjunction with Wisconsin’s mandated “safer at home” announcement, Great Midwest Bank will remain open as an essential business with limited access to our locations. For mortgage closings, our Loan Officers will arrange for an in-person closing via our drive thru lanes and accommodate with eSignatures on many documents that don’t require a wet signature.  Additionally, appraisers are also considered essential for the real estate industry and have been given instruction to work within the current restrictions. If you are sick or have been exposed, please reschedule. Only required signers should attend closing. We are taking precaution to cleanse and disinfect before and after each closing. For deposit needs, our drive thru service is available.  Our West Allis has glass… Read the full article.


Teaching Children about Money: Ages 4-13

Teaching children about money and how it works can be fun in addition to being valuable. It’s up to you to decide when to begin teaching your children about money, but it’s also important to be prepared should they start asking questions about money. After all, if you don’t teach your young children about finances, who will? The following money tips will help get you prepared so you feel confident teaching smart financial habits. You don’t need to be a financial expert Keep it simple and fun at first. One of the easiest you can do to get started is just count pennies and other coins with your child at the kitchen table. Then help them put the coins in… Read the full article.


4 Reasons to Use A Piggy Bank

One of the easiest ways we learn how to save money at a young age is with a piggy bank or some other container to collect our coins and money. So, in an effort to further encourage all of our customers to teach children about money, we wanted to highlight one of the simplest, most convenient ways to save: using a piggy bank. Most of us at some point in our childhood received a piggy bank. Maybe some of us still use our first piggy banks. It’s one of the most effective ways for parents to teach their children the value of saving money rather than spending it. More importantly, the piggy bank is also a good reminder for parents… Read the full article.


How to Boost Curb-Appeal on a Tiny Budget

First impressions are so important to most people looking for their new home. While you might not be in the market to sell your home yet, now is a great time to make some simple improvements and enhancements around your house to keep it looking beautiful. Then, if you ever do list your house for sale, you’ll have less to worry about. Sprucing up the outside of your house and making it more attractive is very doable, even with a tiny budget. It may take a few weekends of putting in a bit of sweat equity but it can really boost your home’s curb-appeal. We pulled together a bunch of great ideas for you that are inexpensive ways to improve… Read the full article.


Why Community Banking Matters

Great Midwest Bank takes considerable pride in being a family-run, community-owned bank. Now more than ever, we understand what our customers and communities are going through so we'd like to take this time explain why community banking matters. At community banks like Great Midwest Bank, decisions are made based on the specific needs of you, our customer. Community banking means we’re not driven by fees and answering to stakeholders. At the end of the day, what’s in your best interest is most often what’s in ours. Having a great relationship with our customers is only one of the many benefits of choosing to bank with a community bank. Great Midwest Bank loves spreading the word about community banking. So for... Read the full article.

What is Common Sense Lending?

At Great Midwest Bank, we use the phrase “common sense lending” a lot. Maybe you’ve heard it before but what does it mean? Common sense lending is the method of looking beyond mainstream lending criteria to consider all circumstances individually.  In other words, common sense lending means we take the time to get to know you and your situation, not just your credit score and income history. Why? Because those two numbers alone don’t tell the whole story about you. Instead, we go one step further with a more personal approach. Let’s take a closer look at how GMB’s common sense lending philosophy can help you. No computers, no algorithms. Just a human and common sense. Every loan application submitted… Read the full article.


11 Questions to Ask If You’re Thinking “For Sale By Owner”

When the time comes to sell your home, there are plenty of questions on your mind, especially if you’re thinking about going the For Sale By Owner route. How much is my home worth? What’s a fair selling price? Should I list my home with a Realtor? Can I even sell my home myself? If you find yourself leaning towards listing the house yourself, here are 11 questions to answer when listing your home as For Sale By Owner (FSBO). Can you price your home competitively as a For Sale By Owner? It sounds like an easy one for most homeowners but with little or no experience in real estate or the housing market, homeowners like yourself may not be sure… Read the full article.


Should you buy or build your new home?

To build or not to build? That is the question. If you’re in the market for a new home, you’ve probably started thinking about whether you’d like to buy an existing home or dive into a new home construction project. This decision includes multiple factors, including convenience, cost, and customizable features, and how important each of those may be. While both the buy & build options have their pros and cons, there’s no denying that obtaining a brand new (or new-to-you) home in any capacity is an exciting step! The good news:  Our experienced loan officers have helped hundreds of borrowers through the same decision process and are equipped to answer any questions you may have about financing your purchase… Read the full article.


Five Things Wisconsin Borrowers Should Know about Jumbo Mortgage Loans

Jumbo loans have become a more popular topic in recent years as the market for homes in metro-Milwaukee – high-end properties included – remains competitive. Jumbo loan financing is  specialized, and because of this, some mystery and confusion surrounds the topic. At Great Midwest Bank, we offer jumbo home mortgage loans for those in the market to purchase or refinance qualified homes. There are a few factors that differentiate jumbo loans from standard home mortgage lending products, and we’re here to clear up any questions both new and experienced borrowers may have about jumbo loans. Contact our experienced loan officers to discuss any additional questions. Here are five things Wisconsin borrowers should know about jumbo home mortgage loans: 1. What… Read the full article.


Five Tips for First-Time Home Buyers

Here at Great Midwest Bank, we’re always excited to assist first-time home buyers during their search for the perfect place to call home. While the road to owning your first home can be a long and winding one, the pride you’ll feel when the papers are signed is worth the journey. The benefits to owning a home are countless – it’s a good investment that will allow you to build equity, a strong credit history and so much more. Your first home may be where you raise your family. Homeownership offers you several intangibles that can be difficult to recognize until you move in, meet the neighbors and embrace that sense of community. With over eight decades of experience, we… Read the full article.