4 Reasons to Compare Lenders When Shopping for a Home Loan
Posted On: April 15, 2022 by Farmers Trust & Savings Bank in: Home Ownership
Author: Rita Hoffman, VP Real Estate Loan Officer
A new home purchase season is upon us, and as a homebuyer you may be eager to find your first or forever home. Make sure you have the help of a trusted lender who can help make your experience a smooth one!
With the excitement of home ownership, the last thing you want to do is have to read all the fine print or learn the “mortgage lingo”. But here are reasons why you should!
Not all loans and loan providers...
6 Tips for Saving for Your Down Payment
Posted On: March 8, 2022 by Farmers Trust & Savings Bank in: 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:
Develop a budget & timelineSpeak 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 –...
5 Questions to Consider Before Purchasing Your First Home
Posted On: March 8, 2022 by Farmers Trust & Savings Bank in: Budgeting, Home Ownership, Money Management
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:
How much money do you have saved up?Start with an evaluation of your financial health. Figure out how much money you have for a...
6 Items for Your New Home’s To-Do List
Posted On: June 1, 2021 by Farmers Trust & Savings Bank in: Home Ownership
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.
Create a budget.The key to a good budget is including as much information as you can, so that you can adequately prepare and plan. It's important to keep accurate records of your spending so you can spot places to save money and know how much you can reasonably spend. The American Bankers Association’s budgeting worksheet...
6 Tips for Saving for Your Down Payment
Posted On: February 12, 2021 by Farmers Trust & Savings Bank in: Home Ownership
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...
7 Ways to Improve Your Credit Score
Posted On: January 22, 2021 by Farmers Trust & Savings Bank in: Home Ownership
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.
Request a copy of your credit score report – and make sure it is correctYour credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other...
