Union Bank, ICBA Offer Tips to Help Simplify the Homebuying Process

Grand Rapids, Michigan – June 12, 2024 - In recognition of National Homeownership Month, Union Bank and the Independent Community Bankers of America (ICBA) are encouraging consumers to consult their local community banker about how to make the homebuying process simple, efficient and more affordable.

“Owning a home is a major purchase and an important component in building financial independence,” said Cortney Collison, President and Chief Executive Officer at Union Bank. “We want to make what can be a lengthy and complex process as effortless as possible and walk you through what to expect so you can assess your needs and find suitable options to finance your first or forever home.”

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

• 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.
• How mortgage rates, terms, and related expenses (including property taxes and insurance premiums) affect payments. This will help you set a home budget and manage your homeownership expenses.
• Your rights and obligations under your mortgage contract. Today’s consumers have many financing options—each with unique stipulations outlined in the fine print.
• 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.
• Additional resources to help create a budget and set financial targets. We offer homebuyer presentations and other helpful resources via our Financial Wellness Program. Additional free online educational tools can be found at hud.gov.

“For many Americans, homeownership helps strengthen community roots, establish financial stability, and create generational wealth,” said ICBA President and CEO Rebeca Romero Rainey. “As relationship lenders, your local community bank can shepherd you through the process and improve your outlook as an informed buyer.”

For more information on how Union Bank can support your homeownership needs, visit us at ubmich.com or contact us at 800.974.3273.