Smart Women, financial literacy, first time home buying, mortgage, first mortgage
Smart Women Hosts Presentation for First Time Home Buyers
This article is republished with the permission of the State Gazette and Rachel Townsend.
Thursday, August 15, 2019
First Citizens National Bank President and COO Judy Long (above) opened the event with words of thanks to those attending before introducing guest speaker, Sonya Burks (below), who serves as the vice president of mortgage lending at First Citizens National Bank in Dyersburg.
In an effort to address questions regarding purchasing a home, and methods of financing, First Citizens National Bank hosted a Smart Women “Find Your Way Home: First Time Home Buyers”presentation at McIver’s Grant Public Library, offering information on current home loan programs, grants, and what to look for in a local lender.
Whether you’re buying your forever home, or maybe just a started home, Sonya Burks, vice president of mortgage lending at First Citizens National Bank, said she and her team can help you navigate through the process of home ownership.
So, what items are helpful for mortgage pre-qualification?
Burks says clients should be prepared to bring in their most recent full tax return, documentation from all investment accounts, and, if divorced, a petition, parenting plan and final recorded divorce.
Those who lack credit may present proof of monthly payment from car insurance, Netflix, Hulu, cable, cell phone bills, utility bills, rent, gym membership and Amazon.
If you need help financing your home, programs are out there to help. Burks discussed types of mortgage programs available including:
Guidelines for a FHA loan include:
VA loan requirements:
USDA Rural Development loans
In-house portfolio loans