Category Archives: Home Buying
Is This a Good Time to Buy a House?
Is this a good time to buy a house? You might be worried about interest rates that are still high, or maybe you heard that housing inventory is low. While those are factors, a lot more goes into determining if you’re ready than just the current housing market. Purchasing a house is a significant milestone… (read more)
Posted In: Home Buying, Lending, Lending
Buying a House in 2024 – How to Make the Most of Your Mortgage
If you’re already searching, you probably know that buying a house in 2024 is a stressful prospect. Interest rates are still high at the moment as the Federal Reserve continues efforts to minimize inflation. And while we’ve heard that rates are likely to drop during the year, the question of when and how much is… (read more)
Posted In: Home Buying, Lending
Hidden Costs of a DIY Home Remodel
Gloves? Check. Safety goggles? Check. Hammer hanging off of your carpenter jeans? Check. You’re ready to fulfill your HGTV dreams and dive into a much-needed DIY home remodel project. You’re going DIY with this because A) it will save on the cost, and B) you’ll have fun doing it. You’ve carefully budgeted for your project,… (read more)
Posted In: Home Buying, Lending, Tips For Managing Finances
Five Reasons to Use a Credit Union for your Mortgage
If you know anyone who has recently tried to buy a house, you know what a challenge it can be. Due to the economy, interest rates are climbing, and it isn’t easy to find a reasonable interest rate in this market. While there are many options for acquiring a mortgage, people often overlook that their… (read more)
Posted In: Home Buying
The Ultimate Mortgage Abbreviation Cheat Sheet
Here’s a little trade secret: financial institutions LOVE acronyms. No, not LOL and FOMO, but more like FICO and LTV. Not to worry. At FFCCU (that’s Firefighters Community Credit Union, BTW), we’ve compiled the ultimate list of mortgage abbreviations and mortgage acronyms that you might come across when applying for and filling out all the… (read more)
Posted In: Home Buying, Mortgage
What’s the Best Choice: Paying off a Mortgage or Investing?
Are you wondering if paying off your mortgage early or investing is a better choice in the current economic climate? Nichole Coyle, Certified Financial Planner™, has some answers to help guide your decision. Why It May Make Sense to Pay off Your Mortgage Early: 1. You have a high-interest rate and refinancing to a lower… (read more)
Posted In: Home Buying
8 Documents You Need for a Mortgage Application
In this competitive market, you may be rushing to finish a mortgage application to secure the house of your dreams. However, if you want to get ahead, you’ll need to collect the correct documents, so your process is as smooth as possible. Here are eight documents you need for a mortgage application. 1. Tax Returns,… (read more)
Posted In: Home Buying
Buying a New Home This Month? Read these 10 Tips!
Are you buying a new home this year? Since the beginning of the pandemic, the housing market has exploded, bringing both low-interest rates and low housing inventory. Whether you’re a first-time homebuyer or already own a home, it’s a good idea to be prepared. Keep reading to learn more about buying a new home this spring. Top… (read more)
Posted In: Home Buying, Mortgage
6 Reasons to Get Your Mortgage with a Credit Union
If you are on the house hunt, chances are you’ll need a mortgage to go along with it. While you might be inclined to head to a bank or mortgage-specific lender, a credit union may be your best option. Here are six reasons why choosing a credit union for your home mortgage is a win… (read more)
Posted In: FFCCU News and Info, Home Buying, Mortgage
Are You Saving for Your First Home? You’ll Want to Make Sure You Do These Five Things!
Are you saving for your first home? It’s an exciting event, but it’s also a big financial investment. To be able to make a purchase, you’ll need to have a down payment saved. It’s prudent to devote 20% of your home’s cost as the down payment. But that’s $40,000 on a $200,000 home – which… (read more)
Posted In: Home Buying
