I would like to share First County Bank’s commitment to first-time homebuyers and specifically talk about a loan program that can help make home ownership an affordable reality for members of our community – the FHA Mortgage Program.
FHA loans are loans insured against default by the Federal Housing Administration which is a division of the US Department of Housing and Urban Development (HUD). FHA loans are provided by FHA-approved lenders. These loans allow first-time homebuyers an opportunity to purchase a home. An interesting historical point, FHA loans have been around since the Great Depression and since then, more than 37 million mortgages have been insured by the Federal Housing Administration in the US. These loans have gained popularity because they are more accessible to the first-time homebuyer and depending on certain qualifications have many advantages, namely low down payments for qualified borrowers.
First County Bank believes in the value of homeownership and wants to help the local community, especially first-time homebuyers in lower Fairfield County, purchase their first home. The Bank offers several mortgage products including the FHA program and offers the resources to help you decide what the best steps are for you and your family.
To further demonstrate our commitment to homeownership, we will be collaborating again this year with The Housing Development Fund of Stamford to offer a free First-Time Home Buyers Workshop. The workshop takes place on Tuesday, September 20 in the Community Room at the Norwalk City Hall. The event provides helpful information whether you’re just starting out or ready to move from renting to buying.
More information on First County Bank’s First-Time Homebuyers Programs is available here.