Time & Money Saving Tips From Our Mortgage Experts

COMMUNITY FIRST Credit Union Love Where You Bank Time & Money Saving Tips from Our Mortgage Experts! Purchasing a home is a complex process that can be intimidating for first time and even experienced home buyers. Our mortgage experts lay out some tips and tricks for saving time and money on your mortgage, based on the most popular mortgage related questions heard in our credit union branches all around Jacksonuille. Examine Your Credit Reports When you apply for a mnortgage, your credit report is pulled from each of the three major credit bureaus: Equifax, Transunion and Experian. You can get a free copy of these reports annually and contact the credit bureau to remove any items that are outdated or inaccurate. Get Pre-qualified Before You Start Shopping Before you begin looking for a home, stop in to see a mortgage loan officer so you can get pre-qualified for a loan. This will help you determine how much you can afford to spend on a home before you start looking. Determine Your Down Payment and Other Costs While a 20% down payment is ideal, buyers can put down as little as 5% of the purchase price as a down payment on a home. Remember that you may also have to pay closing costs on your new home, which can be 3 to 4% of the total cost of the home. Help Closing Happen as Scheduled Closings can be delayed by any number of issues, including problems with the home found during inspections. Before your closing documents are prepared, you should make sure your home appraisal is complete, a pest inspection was done and you have received a homeowner's insurance quote. --- -- Take Advantage of Expert Help The mortgage loan officers at Community First Credit Union are available with information on down payments, mortgage rates, and closing costs. Even if you aren't a member yet, you can apply for a mortgage before joining the credit union. If you have questions about buying a home, or are ready to begin the process of getting prequalified, contact Community First Credit Union to get accurate answers and expert help. ©2016 Community First Credit Union NCUA LENDER https://www.communityfirstfLorg/go/no-closing-costs-mortgage