The Farmers Bank, ICBA Offer Insights into the Homebuying Process

June 1, 2022 By: Kayla Day

Portland, TN (June 1, 2022)—In recognition of National Homeownership Month, The Farmers Bank and the Independent Community Bankers of America (ICBA) are encouraging current and prospective homeowners to consult their trusted local lender about how to make the homebuying process easier and more affordable.

Owning a home is a major financial milestone and an important component of building financial security. We want to make the process as painless as possible and can walk you through what to expect so you can better assess your needs and suitable financing to help afford your first or forever home.

Whether you are refinancing or purchasing your home, The Farmers Bank can help you determine:

1. The ideal loan amount and products to meet your budget considerations. We can review the mortgage process in detail and flag ideal programs and loan features.
2. How mortgage rates, the loan amount, property taxes and insurance premiums affect payments. This will help you set a home budget to help you manage your homeownership expenses.
3. Your rights and obligations under your mortgage contract. Today’s consumers have many financing options—each with unique stipulations outlined in the fine print.
4. Suitable government-sponsored programs. In addition to federal homeownership and home-buying assistance programs, we can recommend state, local government, and specialty programs for consideration.
5. Additional resources to help you create a budget and set financial targets. We offer homebuyer seminars and other helpful resources. Free online educational tools can also be found at www.hud.gov.

“For many Americans, homeownership is the key to building roots and creating financial stability,” said ICBA President and CEO Rebeca Romero Rainey. “As relationship lenders, your local community bank is here to help and can shepherd you through the process to improve your prospects for success as an informed buyer.”

For more information on the services we offer, call or visit your local branch today.