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SBD Offers Seminar For First-Time Homebuyers

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SBD Offers Seminar For First-Time Homebuyers

DANBURY — Savings Bank of Danbury has scheduled a special educational first-time homebuyer seminar for residents of the greater Danbury area to be held at Ethan Allen Inn on Wednesday, August 11, from 6 to 8 pm.

This session is targeted to low-to-moderate income individuals and families. Admission is free. Refreshments will be served.

At this seminar a panel of professionals will provide information on homeownership, including options for down payment assistance, and will be available to answer any questions the participants may have.

Savings Bank of Danbury will also be rolling out a special first-time homebuyer program for potential borrowers that have income levels that do not exceed 115 percent of the median household income ($110,975) as defined by the 2004 Census of the Housing and Urban Development (HUD) Estimated Family Household Incomes for New England, and have not owned real estate in the past two years.

Donna Ramey, executive vice president of the bank, said the program is structured to provide below market fixed rate mortgages with as little as three percent down for a term of up to 40 years. The bank is waiving all bank fees and points for those participants that attend this session and complete a homebuyer educational home study course that is available in English and Spanish.

“This program should allow more low to moderate individuals and families achieve their dream of homeownership,” Ms Ramey said.

The bank is also offering a 90-day rate-lock agreement free of charge from the date of the seminar so participants can take advantage of the lower rates currently being offered. “This program reflects our continuing effort to provide valuable and economical financial services to all eligible residents of our community,” Ms Ramey said.

For more information and to make reservations for the event, call Susan Leahey or Susan Gill at 203-830-4390.

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