ICBA Offers Tips to Help Simplify the Home Buying Process

June is National Homeownership Month

Washington, D.C. (June 3, 2022) — In recognition of National Homeownership Month in June, the Independent Community Bankers of America® (ICBA) and the nation’s community banks encourage consumers to consult their local community bank to learn about available programs that make financing a mortgage or refinancing an existing home easier and more affordable.

"For so many Americans, homeownership is fundamental to feeling secure and confident in their finances,” ICBA President and CEO Rebeca Romero Rainey said. "Your local community bank can help simplify the home buying process and help guide you along the way, ensuring you have the financial support necessary to determine when it’s time to make the American dream of homeownership a reality."

Your trusted community bank can help you secure your first or forever home that is suitable to your unique circumstances and financial goals by advising you on:

1. The ideal loan amount and products to meet your budget considerations by reviewing the mortgage process in detail and flagging ideal programs and loan features.
2. How mortgage rates, the loan amount, property taxes and insurance premiums affect payments. This will help you set a home budget and help manage expenses.
3. Your rights and obligations under your mortgage contract. Consumers have many financing options—each with unique stipulations outlined in the fine print.
4. Suitable government-sponsored programs. In addition to federal homeownership and home-buying assistance programs, there are state, local government, and specialty programs you should consider.
5. Additional resources to help you create a budget and set financial targets. Homebuyer seminars and other resources can help demystify the process. Additional online educational tools can be found at www.hud.gov.

To find a community bank near you, visit www.banklocally.org. For more information on community banks and the services they offer, visit www.icba.org.

About ICBA
The Independent Community Bankers of America (ICBA) is the nation’s voice for community banks with its mission to create and promote an environment where community banks flourish. We are dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and innovative products and services.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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