Buying and Financing a Home
Getting Ready To Purchase A Home
Are you preparing to purchase a home? Buying your first property is an exciting endeavor. Owning a home truly is the American dream! Unfortunately, the housing market and other variables can make this an extremely intimidating and stressful process. To stay prepared during the home-buying experience, examine these 3 financial necessities for purchasing a home:
Financing
Are you questioning whether or not you can afford a home based on income and savings? Many people are surprised to find that they can afford a home with help from the right credit union. With the home loan experts at Fitzsimons Credit Union, we can explain the basics of buying your first home including mortgage loan requirements, type of loans available to you and the down payment necessary. Based on savings and income, there is a home that will fit your budget.
Income
Can you afford to pay the bills on a monthly basis? This is possibly the most important step when looking for your first home. If you are currently renting, chances are you can afford a home! While you have to think about payments including water, gas, and home-related costs, they are typically a similar amount to renting. In some cases, it can even be substantially cheaper to buy than rent.
Credit Score
Many first-time buyers are under popular belief that they need a perfect credit score in order to put a down payment on a home. With the average credit score of approved loans continuously lowering, you can now get a loan if you have lower than an 800 credit score. All you have to do is talk financial planning with the specialists at Fitzsimons Credit Union!
If you’re in the market for a new home, stop into Fitzsimons Credit Union and discuss your financial options! We will provide you with timely, expert service for any of your home loan and mortgage needs. As a recognized leader in the community, you can trust Fitzsimons Credit Union to help you reach your home goals!
For more information, give us a call at (303) 340-3343 or toll free at (800) 933-5839 and get started on obtaining your dream home today!
