NMLS: 1913130
Residential & Consumer Lender
802.878.7908
[email protected]UBlocal.com
Reilly joined Union Bank in June of 2018 working with the Wealth Management Group assisting customers with their financial and retirement planning needs. She began as a loan originator in 2019. Applying her past experience and skills to help borrowers achieve their goals, Reilly understands the value of excellent customer service and communication when borrowers are purchasing, refinancing, or building a home. Reilly works hard to make the process as easy as possible for her mortgage loan customers and does everything she can to make sure they ask as many questions as they need to better understand and feel comfortable with the process of buying a home. A native Vermonter, Reilly grew up in Lamoille county and graduated from St. Michael’s College in 2014 with a double major in business administration and psychology. She comes from a close family with all female siblings—including her identical twin sister. Reilly resides in Jeffersonville with her husband and pets.
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
For most homeowners, the monthly mortgage payments include three separate parts:
The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Union Bank can help you evaluate your choices and help you make the most appropriate decision.
If you’re like many aspiring homeowners, you’re probably most excited to find a home you love in the neighborhood you want to live in. However, it pays off to spend time researching your mortgage options so you can figure out your best loan option. From choosing between conventional and government-insured loan programs to deciding on […]
Vermont ranks #2 for the highest percentage of non-primary residences (ahead of #3 New Hampshire and behind #1 Maine), a statistic that isn’t too surprising given all the natural beauty and year-round recreation options here. Whether you’re an out-of-state resident looking for a bucolic retreat, or a Vermonter seeking a second home near the kids […]
Your first home purchase will be one of the bigger events of your life. Often, your home purchase is the result of several factors that are both emotional and practical. It’s a commitment to your chosen hometown or to where you grew up if you decided not to relocate. Feeling confident enough to buy a […]
Looking to buy your first or next home in Vermont or New Hampshire? One of the most important decisions you’ll make is the choice of a mortgage lender. Just as a real estate agent guides you through the process of choosing a home and making an offer, your mortgage lender helps you navigate the mortgage […]
With a naturally beautiful landscape and community-minded population, The Green Mountain State is a wonderful place to call home for people of all ages and occupations. Ranked eleventh in U.S. News’ 2021 list of Best States, Vermont is known for its maple syrup, dairy farming, cheese, outdoor activities, craft beer and the arts scene. It […]
So you’re ready to buy a home! Beyond the challenge of finding the perfect place in which to spend the next stage of your life, you also have to navigate the complicated process of financing such a big purchase. Potential homeowners, especially first-time buyers, often face other challenges: getting enough money together for a down […]
To mark the opening of our new full-service Williston location this month, we’ve collected insights about this wonderful community from the people who live and/or work here. Union Bank is excited to join this vibrant Williston community. Sam Guy of Guy’s Farm and Yard Founded as a bulk feed business in Morrisville in 1960, this […]