Making the Move Into Your Own Home
Baylake Bank & ABA Offer Guidance on Home Buying Process
STURGEON BAY, June 7 – To keep up with an ever-changing
market, bankers have developed mortgage products that evolve with the economy
and consumer demands. Baylake Bank and the American Bankers Association are
committed to educating consumers on the different products available so they can
make a smart investment. “It’s important for consumers to understand the
mortgage process,” said James Ballentine, director of housing and economic
development for ABA. “A home is a long-term investment. Consumers shouldn’t jump
into the process without the right tools.”
In recognition of June as National Homeownership Month, ABA is providing online
information and tips on the mortgage process – including what role
credit scores play in loan decisions,
how to choose a mortgage and how to avoid
predatory lending scams . “The first step for
anyone looking to buy a home is to do your homework,” Ballentine advises. “An
educated consumer is the best kind of consumer.” The ABA will be releasing home
ownership tips through the month of June, and will make them available at
www.aba.com under the Press Room section.
In addition, Baylake Bank’s lending experts can assist consumers with learning
about how to buy a home, including explaining mortgage options such as
adjustable rate, fixed rate, WHEDA, state VA, Guaranteed Rural Housing (GRH),
and more. The bank also offers an online mortgage WebCenter at www.baylake.com,
which includes resources to calculate rates, payment amounts, and buying power.
“Today’s borrowers have so many options, but need to analyze all the
possibilities and be sure to look at the true costs of homeownership to make
sure they are choosing the best option for them,” said Tom Zellner, Baylake Bank
VP – Mortgage Loan Manager.
About Baylake Bank and the ABA:
Baylake Bank, member FDIC & Equal Housing Lender , serves Brown, Door, Green
Lake, Kewaunee, Manitowoc, Outagamie, Waupaca, and Waushara Counties from 28
community financial centers, and from their website at www.baylake.com.
The American Bankers Association brings together all categories of banking
institutions to best represent the interests of this rapidly changing industry.
Its membership-which includes community, regional and money center banks and
holding companies, as well as savings associations, trust companies and savings
banks-makes ABA the largest banking trade association in the country.
