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Did you know your credit union wants to help you stay on top of your finances through fresh financial content? Make sure you stop by and check out what’s on the blog – new tips every month! Also, don't forget to connect with us on social media! This Eagle tweets, posts, and snaps and we want to hear from our members. Use the hashtag #USEagle on any of your posts and you could be featured on our blog or social media pages. Tweet a picture of you and your new wheels, a purchase you made using your U.S. Eagle credit card, or with your favorite U.S. Eagle staff member. 

5 Tips for Buying Your First Home

Apr 26, 2018, 17:52 PM by Danielle Silva
Are you ready for your first home? While that may seem daunting, here are 5 simple steps you can take to make the process easier: 

1. Start saving for a down payment early. Put aside monthly savings from your income to prepare for your upcoming purchase. The more you save for a down payment, the lower your mortgage will be. 

2. Check your credit. Your credit score is one of the most important aspects to consider when purchasing a home because it helps determine your interest rate and possibly the loan terms.

3. Get preapproved. If you are preapproved for a loan it means a lender has reviewed your financial information and advised how much you can afford. Preapproval also helps you budget for the monthly payments. 

4. Buy a home for tomorrow. Think about the future. Purchasing a home for your current needs is one thing, but you may be planning ahead for a family. A larger family may require a larger house.

5. Don’t forget – closing costs! Closing costs run between 2% and 5% of the purchase price. Shop around and compare prices for certain closing expenses, such as homeowners insurance, inspections, and title searches. 

Our mortgage experts at U.S. Eagle are a great resource. We also have calculators at useagle.org to help determine your monthly payments. Whether you’re a first-time home buyer or a seasoned veteran, give us a call at 505-342-8957, and we’ll be happy to help you along the path to homeownership. 
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