Mortgage Education Essential to Finance

by Chris Carter, VP/Area Sales Manager, Univest Bank and Trust Co.

 

In today’s challenging and tight residential real estate purchase market, Univest Bank & Trust arms its future clients, along with current and potential referral partners, with education and products.

When Stefania Perrong of Univest Home Loans sits down with prospective buyers from the Mt. Airy and Germantown areas, she discusses more than interest rates and customary fees.  As one of just a few preferred lenders to the non-profit community organization, Mt. Airy USA, Stef provides essential mortgage finance counseling to potential First-time Homebuyers in Philadelphia.  She also meets with Veterans, single parents, low-moderate income wage-earners, and seniors on a monthly basis to discuss various, yet vital programs designed to assist them in their quest for the American Dream.

The same holds true for Joe Fijalkowski who serves the Montgomeryville and Line Lexington branches with similar after-hours seminars, and Brenda Graziano who has partnered with a local real estate professional to present to these audiences in Plumstead, and Nancy Ruddle who packed a room of realtors on one day, and a group of fireman and their families the next, to share with them the many opportunities Univest has to offer.

Members of Univest continue to work with advocates such as Bucks County Housing Group, Genesis Housing, Montgomery County Partners for Homeownership, and numerous others.  Recently, for 3 successive weekends, groups of Univest employees from every department voluntarily contributed their time by attending local Home Shows to showcase our products.  Mortgage Department EVP and Director of Sales, Barton Skurbe, likewise visits area VA recruiting stations to further our commitment and lending benefits to those who have made incredible sacrifices serving our Country.

Home Loan Consultants from Univest have long engaged in delivering seminars and pertinent information to equip the public with expert advice and to help them embrace the home purchasing process with confidence.  These education sessions include conversations and tutorials about budgeting, credit, qualifying, purchase expenses, and specialized programs developed to assist with down payment and/or closing costs.

Many of the FTHB seminars and appointments take place after business hours at Univest Financial Center locations to accommodate work schedules while other sessions are scheduled at real estate offices in the form of “Lunch and Learn” conferences with professional realtors.  On-line delivery platforms and links likewise provide valuable tools such as training guides, calculators and industry updates.

Univest is fortunate to offer products like Pennsylvania Housing Finance Agency (PHFA), FHA, VA, USDA and the Federal Home Loan Bank (FHLB) First Front Door Grant.  To accommodate homebuyers, many of these products offer low, and sometimes zero, down payment options.  In addition, some of these programs allow for secondary financing, gift funds, and/or grant monies designed to offset expenses associated with a home purchase.

The First Front Door Grant, as an example, will provide up to a total of 5k towards a qualified buyer’s down payment and closing costs.  The FFD Grant is not offered by every lending institution or bank.  With another exclusive program, American Heroes, Univest offers a credit towards closing costs for our Veterans and First Responders.  There are even specific products to assist Physicians recently emerged from medical school, now saddled with student loan debt.

Most recently, area State Representatives introduced a bill (HB-1981) to allow for PA homebuyers, their parents and grandparents to contribute money to a homebuyer savings account that would make the income they contributed free of state income tax.; this bill is pending approval (check out:  https://www.firsthomepa.com/).

While low real estate inventory, rising interest rates and sales prices can create impediments to today’s home purchase experience, buyers can benefit from, and take advantage of, the education process and expansive menu of products at Univest.  Knowledge is power and equipping our clients with specially-designed products results in a confident borrower possessing an edge over rival offers.  Give us a call and ask us how we can help you today; thanks for the opportunity!