Big news on the homefront: RE/MAX Town & Country Realty & Bank of America have joined forces. Our goal: providing our clients with a simpler, more personal approach to home-financing.
Now, anyone working with a RE/MAX Town & Country broker will have direct access to an experienced, Central Oregon-based senior loan officer with Bank of America — one who’ll be on hand to work with that client for the life of the loan.
Our BOA representative, Tom Ferrara, is available to meet with both home buyers and home sellers anywhere in the region who are considering home-financing decisions. For those who prefer online information gathering, Ferrara provides folks helpful information (including a video home-loan guide and online pre-qualification option) at his website.
Tom is also a great resource for those of us at RE/MAX. At a recent staff meeting, he brought us up-to-speed on two new Bank of America loan options: the Doctor’s Loan and the Asset Dissipation Loan, both of which have not been available for some time.
The Doctor’s Loan provides financing for licensed, practicing doctors or residents, dentists or other eligible medical professionals. A few of its advantages:
· As little as 5 percent down on mortgages up to $850,000
· A range of fixed and adjustable-rate loans is available
· An employment start date up to 60 days after closing;
· Student loan debt isn’t included in the total debt calculation.
The Asset Dissipation Loan enables high-net worth borrowers to use their assets to qualify them for a loan. Tom says that “Clients with a high net-worth and significant liquid assets may be considered for use of asset dissipation when they live primarily off their assets and their asset balances would be reasonably expected to support them and maintain their lifestyle over the term of the loan.” The loan will be available in the near future to both retired and non-retired customers.
If you’d like to learn more about Bank of America home loans, contact Tom Ferrara at (541) 383-2093 x221 or tom.ferrara@bankofamerica.com.
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