Home, sweet home! Wait, are you looking for a bank that is suitable for buying a home for the first time? Don’t worry; Five Points Bank is here to rescue you from a bottleneck situation where you can’t arrange the money.
As one of the largest banks, this one is always ready to offer you exciting financial products. It reaches a milestone with its customers where everyone can celebrate the joy of success. If you accept their proposal for buying a home, then, you’ll feel why it becomes the best bank out there.
I know you have lots of questions to ask about it. We tried to clear everything in this review. Just start to read.
What Is The Five Points Bank?
The USA is almost full with lots of community and commercial banks. The Five Points Bank is one of these which is also treated as the largest bank in the USA.
In 1791, this bank started to give banking services to the people of the United States of America. Its headquarters are in Grand Island, Nebraska. It is the largest because it owns assets of $997 million.
On top of that, its deposits are $861 million. Can you imagine? Not only for different financial products, everyone seriously considers this bank for their money management and service as well.
Five Points Bank Offers Multiple Banking Product:
This bank comes with different banking products that are most common to consider. But its rate and the service differences are reflected in the table below.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$50|
|Checking Account||0.1% APY||$1000|
|Certificates of Deposit||12 Month: 1.26% APY24 Month: 1.46% APY36 Month: 1.96% APY48 Month: 2.07% APY||$500 for all terms|
|Money Market Accounts||0.4% APY, 0.45% APY||$10000, $15000|
What Are The Roles & Responsibilities When Buying A Home With The Five Points Bank?
Now come to the point. If you have already decided to buy a home with this bank, then you must read all the things we’re going to discuss. Buying a home is the biggest step you’ve ever taken in your life.
So, to complete this largest transaction with the right decision, you should look for more details about this bank and its responsibilities as well.
For that, come forward with your real estate agent and loan officer. To get your dream home everyone plays a vital role. Let’s see what you need to know about it.
Real Estate Agent
A real Estate Agent is the first player of your home buying game. They will let you know about available homes around you and which one is overpriced and which is not.
After knowing your requirements, the agent will present the home and let you determine which one is good to buy. Then they’ll start to negotiate.
You also need to count on your loan officer too. Maybe you know a little about the loan. Your loan officer helps you to get the best loan that is also perfect to choose based on your situation. He is also responsible to inform you of every little detail about the loan and the current status as well.
After you confirm the loan, loan officers help you to get the best rates that are also significant to save you money as well.
Believe In Yourself
As the process develops, you need to keep in touch with everything like informing authorities and providing documents. Don’t try to waste time. Do it as soon as possible.
Remember, as fast as you go as fast as you buy your home. Always concentrate on what you are doing. It’ll help you to enjoy the whole process of buying a home. Five Points Bank is good in these steps. A local expert of this bank gives you regular updates all the time.
Avoid Few Thing To Avoid During The Home Loan Process With Five Points Bank:
To make the loan process more meaningful, you must avoid some mistakes that most people make. So, you should keep away from some action that we are going to mention below.
- Despite having the option to get a loan from Five Points Bank, don’t make expensive purchases. Unless you complete your home buying process don’t buy anything else like vehicles, expensive furnishings, electronics, etc.
- You must stay on track like a consistent career. It’s important to make sure that you have a consistent career as an applicant. If the career you choose has a negative impact on your paycheck, then stay away from it.
- Don’t move your money or change banks because your bank statement of the last few months is the key that is monitored by the lender. It’s important for the approval of your home loan.
Step By Step Guide:
Home loans take time to process. But once it starts to roll, then everything will happen in a short time. In this case, Five Points Bank will help you a lot. Let’s overview the process of buying a home with this bank.
- The loan officer of Five Points Bank gives you the option for the best loan. For that, the officer will call a meeting.
- Now experts make a loan file for approval where you need to provide more information.
- At the time of loan processing, you might need to submit more documents like Flood certificates, IRS Tax Transcripts, verification of employment, etc.
- Provide agent contact information of the insurance company.
- Wait to get a call from your loan officer after underwriting review. They may have some questions for you.
- Now you will be notified if the loan is approved, including the closing date, time, and location.
- With the final closing cost and closing documents, closure starts to prepare.
- Sign necessary paperwork and get the key to your new house.
It’s true that buying a home with a bank like Five Points bank is undoubtedly a big project. There are many processes to follow to get the loan approval. But these banks help you in every way to get the loan.
From start to finish, this bank knows what it needs and what you want. Not only that, to make you more comfortable with their banking and loan process, they offer different products, which also get the best rate.
Finally, this bank is the best way where you will be navigated by experts for your financial decisions like buying a home.