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HOME OWNERSHIP WITHIN REACH FOR QUALIFIED RESIDENTS OF CENTRAL FLORIDA

 ORLANDO, Fla., July 23 /PRNewswire/ -- SunBank, N.A. is once again offering its program to assist low to moderate income families in Orange, Seminole, Osceola, Lake and Brevard counties get affordable home financing. Called the Community Home Buyer Program, the plan serves three key needs for low to moderate income families. First, participants learn about home financing, budgeting techniques, and home buying tips through a series of seminars. Then, participants who complete the program become eligible for home financing that offers more liberal financing guidelines. For example, the down payment requirement will be 5 percent rather than the 10 percent to 20 percent typically required. Third, participants become eligible to participate in a savings program which assists in establishing a down payment to purchase a home. The four-week program will begin on Aug. 5 in Brevard, Orange, Seminole, Osceola, and Lake counties.
 In order to qualify for the program, the participant's maximum household income level should follow these categories: Orange, Seminole, Osceola -- $43,125; Lake -- $31,395; and Brevard -- $40,020.
 SunBank is also continuing to offer a unique element of the program, the Home Buyers Savings Plan, which assists in planning for the purchase of a home. This savings program requires the customer to deposit a specified amount twice a month into a savings account over a three-year period. During this time, SunBank pays interest on the customer's Home Buyer Savings Plan balance at preferred rates each month. At the end of the three-year period, the customer should have enough saved for the down payment on a home and then may apply for a mortgage with SunBank.
 Anyone who would like to register for the seminar or who needs more information about this program, contact SunBank at 407-237-4787.
 -0- 7/23/93
 /CONTACT: John McDonald of the compliance department of SunBank, N.A., 407-237-4787/


CO: SunBank, N.A. ST: Florida IN: FIN SU:

RC-AW -- FL004 -- 5065 07/23/93 10:39 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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