NMLS 58318
Vice President
Residential & Consumer Loan Officer
D: 802.888.0958
SBull@UBlocal.com
With over 30 years in lending, Sherrie is a known leader in the industry. Specializing in Government loans such as VA, FHA, Rural Development and Freddie, Sherrie has gained a vast knowledge of how each program works, including the nuances and special considerations. This knowledge makes her a great resource for her customers. Combined with this is Sherrie’s banking product knowledge of construction, home equity and land loans offered by Union Bank. Customers looking to purchase or refinance will find Sherrie’s customer service outstanding. Available when needed, Sherrie can assist you with your financial needs during evenings and weekends as well as normal business hours.
Thank you for being so attentive and understanding….. you have secured a special place in our hearts ….. thank you for your unprecedented attention to detail ……you are one in a million….You rock!! – First Time Homebuyers, Lamoille County, VT
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).
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.
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:
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 […]
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 […]
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 […]
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 […]
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 […]