mortgages - Liberty Bank Inc

Jul 13

7

The tiny living story of Rhonda

By Alfredo Montilla | Banking | No Comments

Rhonda Wilson-Williams is beginning her tiny living journey after getting a loan from Liberty Bank, and we are happy to share her words!

“I’m so thankful for the thousands of people who have preceded me on this journey. Almost everything I read and learned on YouTube is real, and it’s been incredibly helpful, knowing so much, before I actually moved in! I’ve adopted a minimalist’s way of thinking over the past few years.

I realized “stuff” is not essential; people and relationships are.

Brett at Cornerstone designed a storage area for all my Art, so I can change out what I want to be on display and store the rest. The three deep drawers he gave me in the kitchen are substantial storage areas I love.

I’m parked on land owned by a tiny living pioneer, here in Jacksonville (Florida). He’s built two homes himself, converted a third, and is working on converting an Airstream. He has his own little tiny home community.

I hope I’m making a tiny difference in the world (pun intended). I know that telling my story in person to friends and strangers, has sparked interest in many people, both young and older like me, to start their Tiny home journey.

I firmly believe that what started 15 years ago, as a handful of people building their own tiny homes, has taken a foothold in modern building and is changing people’s way of thinking about what a “dream home” looks like. I think the time is right for tiny homes to become commonplace”.

Disclaimer: Liberty Bank of Utah does not endorse or warrant the products or companies listed on this page and nor does it receive any compensation, monetary or otherwise, from these tiny home builders. Liberty Bank does work with customers who purchase homes from these builders and encourages tiny home purchasers to shop around for the builder that is best for them.

Jul 02

7

Are you looking for tiny home financing? Check out our presentation for the THIA’s meet up

By Alfredo Montilla | Banking | No Comments

Liberty Bank had the honour to talk about financing in the Tiny House Industry Association meetup, on May 21st. In the meeting, Kendall Phillips -CEO of Liberty Bank- and Henry Palma -VP Lending- covered the necessary steps to become a certified tiny home builder approved and ready to work with Liberty Bank.

They also explained the process of inspection used by the bank with third-party inspectors, and several tips for those interested in getting loans, which are available on the presentation used on the THIA meet up, clicking the following link!: How to get financing for a tiny home

Mar 16

6

Liberty Bank informs: COVID-19 UPDATE

By Alfredo Montilla | Banking, credit, Home Loans | No Comments

To help our community in this global concern related to the COVID virus (also known as Coronavirus), Liberty Bank Inc is monitoring the present situation and following the instructions and recommendations of the local and Federal government, so of the Center for Disease Control and Prevention (CDC), and the World Health Organization (WHO).

In behalf of the present situation, we are striving to offer the best service to our allies, borrowers and customers, and in the same time being prepared to protect the wellbeing of our employees and clientele. That’s why we encourage people to stay home when sick, excepting to receive medical care.

Nevertheless, we are responding to the requirements of any customer or anyone else interested in our services.

Our branch keeps its doors opened, and we understand if any of our members prefer to conduct business online or from their offices and homes. Therefore, we invite you to contact us through the usual channels via telephone: 801-355-7436, our email media@libertybankofutah.com or our social media accounts on Facebook: www.facebook.com/LibertyBank; Twitter: @LibertyBankInc, and Instagram: @libertybankinc.

In this particular moment, we endeavour for the vigorous health of our allies, borrowers and customers, helping to keep them and their relatives out of any risk in this unique situation. Still, most of all, we wanted to thank you for being a loyal member of this family called Liberty Bank Inc.

Nov 17

7

5 Mistakes That Could Hurt Home Buyers

By Alfredo Montilla | Home Buyers

Home ownership is part of the American dream, here are a few tips to help you avoid common mistakes when buying a home.

Down Payment Programs Make Financing More Difficult.

There are now more than 2,500 programs available across the country and 85% have funds available for new house buyers. It is recommended that new potential new buyers seek homeownership education.

It's often a necessity with down payment programs and it provides} buyers self-confidence and assurance in their ability in the buying process and knowledge about financing options, including down payment assistance programs as well as spending budget and cash management strategy.

Down Payment Assistance Programs Are Not Available In My Area.

With some legwork and research, you will probably discover some loan programs offered by local community banks or community organizations available in most states both in - rural and urban communities.

It's important for buyers to search for these programs early in their home-buying process as it may help determine the best finance options to suit their financial needs.

Liberty Bank's HomeStart program can help first time home buyers with up to $5000.00 in grant money that can be used towards a downpayment or closing cost assistance.

Loan Programs Are Only For New First-time Homebuyers.

While there are many first-time home buyer programs out there, it's important to take note that the meaning of a first-time homebuyer is someone who has not owned a home in three years.

Additionally, more than 37% of First Time Buyer programs might not even have a first-time homebuyer requirement.

You Need To Have A Down Payment Of 20%.

Today, a 20% down payment is not always required and with regards to the buyer's situation, having the ability put down a sizeable down payment will definitely put you in a better position when banks review your loan application, it may also help put you in a better position to get a better interest rate.

However, if you are like many home buyers who cannot come up with a 20% downpayment, you are in luck because there are down payment assistance programs which allow buyers to save on the down payment, retaining savings for property maintenance and improvements.

Some of these present programs include grants, first mortgages with below-market interest rates and some annual tax credit.ement.

Home Are Too Expensive To Buy In My Neighborhood.

While it is true that home prices have taken off in recent years, if you do a little searching and networking you may be able to find a home close to the area in which you want to.

Foreclosures are always available however are a little harder to purchase but if you do your research it is possible to find a gem in your price range.

There are also many resources that are designed for individuals providing an important community service, including educators, protectors, workers in the healthcare industry, veterans and other special community servers which allow would be home buyers to purchase homes in your cities.

This is especially helpful in high-cost markets, these programs help critical personnel stay and live in the communities they serve, it also helps to keep home values stable within communities.

If you have questions or comments please contact us.

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Nov 02

3

Home$tart Opens The Door To Home Ownership.

By Alfredo Montilla | Home$tart

Opening The Door To Homeownership with Home$tart

Home$tart can help you become a homeowner.

There Is Grant Money Available

With housing costs on the rise and home sales continuing strong into the winter despite the average prices of single-family homes increasing on a national average to around 191k, interested buyers are out in force.

Interest rates are still hovering below 4%, which makes for a great time to purchase a home before rates increase. However many home buyers may feel that buying a home may be out of reach due to the amount needed for a down payment.

For qualified buyers, this is where Home$tart can step in to help.

By allowing potential home buyers to take advantage of grant money that is set aside for qualifying people, many people will be able to purchase their first home.

How Much Is Available?

Home$tart funds will be available beginning January 1st, through Liberty Bank to all qualifying home buyers.

Including first-time home buyers and those who have previously owned a home, funds will be distributed on a first-come-first-served basis.

This federally funded grant helps to promote homeownership by helping homebuyers earning up to 80 percent of area median income, adjusted for family size, purchase a home.

The grant program makes it possible for people who would like to purchase a home but who may not otherwise be able to come up with funds needed for a downpayment or closing costs.

The Home$tart Program provides $3 for every $1 of a home buyer’s funds up to $5,000.

Home$tart grants may be used for down payments, closing costs, or rehabilitation of an owner-occupied housing unit

Condominium or cooperative housing unit are also included and may be used as the home buyer’s primary residence. Grants may be used in combination with funds from other sources.

Since their inception in 1995, Home$tart and Home$tart Plus have granted $43.2 million to help more than 8,700 first-time home buyers purchase their first homes (as of November 1, 2012).

Contact us today to get more information about this program