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SUNBANK PUTS HOME OWNERSHIP WITHIN REACH FOR QUALIFIED RESIDENTS OF CENTRAL FLORIDA

 SUNBANK PUTS HOME OWNERSHIP WITHIN REACH
 FOR QUALIFIED RESIDENTS OF CENTRAL FLORIDA
 ORLANDO, Fla., Oct. 15 /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 Oct. 22 in Brevard County and Oct. 29 in 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.
 If you would like to register for the seminar or need more information about this program, contact SunBank at 407-237-4420.
 -0- 10/15/92
 /CONTACT: Joan Brown, vice president, residential underwriting, 407-237-4420/ CO: SunBank, N.A. ST: Florida IN: FIN SU: PDT


AW-JB -- FL009 -- 0587 10/15/92 15:58 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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