First Citizens National Bank Offers Tips for
Homebuyers During National Homeownership Month
(Mason City, Iowa)- June is National Homeownership Month and First Citizens National Bank, along with other members of the Independent Community Bankers of America (ICBA) want to highlight the level of personal attention that a community bank can offer. “What makes a community bank like First Citizens National Bank special is the level of personal attention we can give you,” said Marti Rodamaker, President of First Citizens National Bank. “We are intertwined in our communities and know our customers. We can help each person find the financing solution appropriate for their situation.” “Community banks can also make the process a lot less scary for first time homebuyers,” said Dawn Braun, Assistant Vice President and Private Banking Officer at First Citizens National Bank in Mason City. “We walk our customers through the process. After all, buying a house is typically the biggest financial transaction someone makes in their life.”

First Citizens National Bank and ICBA offer the following tips to prepare future homeowners: 1. Know your budget: how much you spend on rent, utilities, entertainment, clothing, food and transportation. 2. Visit homes to learn what you are getting for your money and what fits your budget. 3. Organize pay stubs, W-2 forms, tax returns (for self-employed), and bank and investment statements. 4. Work with your community banker to find out how much you can borrow and what mortgage is right for you. Get pre-approved. It helps you shop for a home that fits your budget and shows sellers you are a serious buyer who can close on a home quickly. 5. Check your credit report. Credit reporting agencies must give you one free credit report annually. 6. Learn as much as you can about the home buying process – your community banker can help explain it to you. Look for classes on home buying and home maintenance. There are free online educational tools at www.hud.gov. Don’t be taken in by promises of low payments and 100% financing. Most come with strings. 7. Always ask for a written good faith estimate to compare the real costs of your mortgage. It will tell you what your interest rate, monthly payment and closing costs will be. 8. If you are a first time homebuyer, ask what special programs are available. There are also grant programs to assist with down payment and closing costs.

“Talking to a community banker first is a smart way to start the mortgage process,” said Kelly Rush, Vice President and Mortgage Loan Officer at First Citizens National Bank in Mason City. “Personal service and quick decision making, along with the attention each customer deserves, make a difference in the process of home buying.” First Citizens National Bank is a member of the ICBA. For more tips for homebuyers, call Kelly Rush or Dawn Braun at 641/423-1600.