Ray OfConor, president of Saratoga National says that his bank is not going to wait for any federal stimulus package to kick-in to help people in Saratoga County purchase and sell their homes.
OfConor says Saratoga National has set-up its own Stimulus Package and it is already helping Saratoga County residents purchase the home of their dreams.
This is also good news for home owners who wish to sell their homes. If a prospective buyer needs financing, now the home owner can refer the buyer to Saratoga National for financing.
The Stimulus Package will provide up to $10 million ($10,000,000) in funds to enable families to purchase new or existing one family homes. This also applies for condominiums like the new Renaissance Condominiums being built on Route 9 in Wilton.
Not only will mortgage funding be available - it will be available at a special rate - .25% below the bankfs customary rates.
The Stimulus Program is for primary residences only and can be as much as $417,000 for qualified buyers.
Applications must be received by June 30, 2009. The residence can be any where in Saratoga County.
Special bonus. OfConor says every customer will receive a $300 Visa card at the closing to spend locally.
OfConor says no public funds are being used and there will be no burden to taxpayers. In fact, Saratoga National has taken no federal bail-out funds.
As a community bank that derives it support from the community OfConor feels this is the type of program that will continue to help Saratoga County weather the economic crisis that has hit so many parts of our country.
He says this program helps our real estate market, creates employment opportunities and will improve the overall health of our local economy.
OfConor would emphasize the help available at each of the Saratoga National offices. Each of our officers at the branches can work with our mortgage department to answer your questions and help you prepare your mortgage application.
First time buyers will appreciate the attention and the understanding of our mortgage counselors. If you have questions about the $8,000 tax credit, youfll like their answers. Youfll also like their advice on the most appropriate mortgage options.
In Wilton three offices are ready to serve you. The Maple Avenue Office at Carpenter Lane and the two offices in the Stewarts Plazas at Exit 16 and at Jones Road and Route 50.
Please, call 583-3114 or visit www.saratoganational.com. You can even apply for a mortgage online.