In recognition of National Homeownership Month, Core Bank and the Independent Community Bankers of America (ICBA) are encouraging consumers to consult their local community banker to make the homebuying process simple, efficient and more affordable.
“An important component in building financial independence is owning a home,” said Brian Dryak, Senior Vice President, Director of Residential Mortgage. “At Core Bank we aim to make homeownership as accessible and straightforward as possible. By understanding your unique needs, we can help identify the best financing options for you—whether it’s for your first or forever home.”
Tips for a Smoother Homebuying Journey:
- Explore Pre-Approval: Before starting your home search, consider securing a pre-approval. This helps to inform you about what you can afford and strengthens your negotiating position with sellers. Get started with your pre-approval through Core Bank today!
- Build a Financial Cushion: Set aside funds to cover closing fees, repairs, and adjustments to property taxes to help manage these additional expenses and avoid surprises during the process.
- Assess your Credit Rating: A higher credit score can lead to better mortgage rates. Core Bank can help review your credit report and offer tips to improve your credit before applying for a mortgage.
- Explore Downpayment Options: While a 20% down payment is standard, there are many programs available for lower down payments. We’ll help you explore these options to suit your financial situation.
“Homeownership is an important step toward financial stability and community building for many Americans,” said ICBA President and CEO Rebeca Romero Rainey. “Your community bank can guide you through each stage of the process, helping you understand mortgage rates, terms and related expenses, providing tailored advice and additional resources to help you make informed decisions.”
Consult your community bank for:
- Loan Guidance: Determining the ideal loan amount and products that align with your budget and lifestyle, reviewing the mortgage process in detail, and identifying programs tailored to your needs.
- Budget Planning: Providing insight into how mortgage-related costs affect your monthly budget to help you plan for the long term.
- Additional Resources: Offering homebuyer seminars, budgeting tools, and access to personalized financial planning to prepare you for successful homeownership.
For more information on how Core Bank’s mortgage team can support your homeownership needs, visit us online or contact us today!
