June is National Homeownership Month! For many Americans, homeownership is a key step in their plan for financial stability. Homeownership builds wealth over time and is more cost effective than renting in the long run. Buying a home also signals that you are establishing or solidifying roots in your community. According to the National Association of Realtors, that leads to other fantastic benefits for you and the community overall, including:
- Higher incidence of membership in voluntary organizations
- Higher incidence of children involved in organized activities and less time in front of screens
- Higher rate of high school graduation which results in a lifetime of higher earning
Homeowners also move far less frequently than renters, making it easier to build community networks and support systems.
Community banks like First National Bank are relationship lenders and we are here to provide guidance and support in the process of becoming a homeowner! Our lenders can:
- Help you determine if you’re ready to buy a home. If you’re not, we’ll guide you on steps you can take to become ready. Our staff also can offer additional resources to help you create a budget and set financial targets.
- Counsel you on how mortgage rates, the loan amount, property taxes and insurance premiums affect monthly mortgage payments. This will help you shop for a home that fits your budget and increase your prospects for success as an informed buyer.
- Explain the mortgage process and your rights and obligations under your mortgage contract. Our lenders will help you understand the fine print before you sign on the dotted line.
- Find the best mortgage loan that matches your financial needs and budget considerations. We will evaluate the best available mortgage programs, including suitable government-sponsored loans, to make homeownership more affordable.
- Determine if you qualify for any down payment assistance programs. First National Bank offers down payment grants that not all banks do.
Homeownership is an important step in supporting future generations and ensuring our communities’ long-term economic viability. At First National Bank, we want to do everything we can to help you navigate the homebuying process and support your desire to own a home!
Please contact one of our consumer lenders to learn more about how we can help you become a homeowner!
You also can visit our online Mortgage Center to check today's rates, get a personalized quote, use a mortgage calculator, or apply for a mortgage online.