Home Ownership

Before you can make the transition from renting your home to owning your home, you will need to have a substantial down payment, typically 3 to 20 percent of the home’s value. To help potential homebuyers save, check out the following tips:

Speak to a mortgage professional and determine how much you’ll need for a down payment. Create a budget and calculate how much you can realistically save each month –...

Now that you’re settling in to your new home, there are some important things you need to consider. Farmers Bank recommends the following tips.

When considering buying a home, the down payment you put upfront plays a major role in your future housing expenses. According to the Consumer Financial Protection Bureau, the amount you save can greatly influence your interest rate, monthly housing payment and also your need for mortgage insurance. As you prepare for the home buying process, Farmers Bank is highlighting six tips to help you cut the extra costs and save a substantial amount for your down payment.

Typically, lenders...

Whether you’re renting or buying, your credit score is significant. It is important for you to responsibly manage your debt levels and maintain good credit reports so that you are more attractive to leasing agents and mortgage lenders. Tips to improve your credit score.   

Your credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other...

Owning a home is a great investment, but before jumping into the market it is extremely important for consumers to consider the costs involved and budget accordingly to ensure they’re able to meet all of their financial obligations.

Farmers Bank encourages consumers to consider these questions before beginning their housing quest: