With the summer real estate season upon us, many Americans are following the seasonal real estate trend and considering purchasing a home over the next few months. The total mortgage originations market is estimated to be around $1 trillion in 2014. With that in mind, the Independent Community Bankers of America® (ICBA) and the nation’s more than 6,500 community banks are on hand to help homebuyers navigate the mortgage process.
“Buying a home is likely the biggest purchase anyone will make, and community bankers are an excellent resource to help guide consumers through the process,” says John Buhrmaster, ICBA chairman and president and CEO of 1st National Bank of Scotia, N.Y. “With new mortgage rules and regulations in place, community bankers are available to help potential homebuyers by providing accurate and well-informed information. Community bankers across the country can help their neighbors in their local community find mortgages that fit their financial needs, budgets and lifestyles.”
ICBA offers the following eight suggestions for prospective first-time homebuyers:
“Community bankers work with their customers and help give advice on finding mortgages borrowers can afford,” Buhrmaster says. “There are plenty of steps to complete to ensure the home buying process goes smoothly and community bankers are on hand to help with this. They can help customers determine the most affordable mortgage options and are available to provide additional financial guidance if needed.”
For more information, visit www.banklocally.org.
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