Category Archives: 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: Guest Blog, Home Buying, Mortgage, Tips For Managing Finances
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: 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
Four Reasons To Refinance Your Mortgage
If you’re a homeowner, refinancing your home may have crossed your mind. With interest rates at historic lows, many people are taking advantage of locking in a lower rate for the duration of their mortgage loan. What is Refinancing? Refinancing your mortgage typically involves paying off your current mortgage with a new loan, typically at… (read more)
Posted In: Home Buying
Five Things You Need to Know When Buying a Home in a Competitive Market
Mortgage rates are at historic lows, and it may be the perfect time for you to purchase a home. The major downside is, there are not enough homes for sale to meet the high demand! With the housing marking so competitive right now, here are five tips to help you buy the home of your… (read more)
Posted In: Home Buying, Mortgage
Biggest Mortgage Mistakes to Avoid – What Not To Do!
Taking out a mortgage to purchase a home is a big decision; it is likely you’ll be borrowing a significant amount of money that will take several decades to repay. Because this is a significant milestone, it’s crucial to avoid common mortgage mistakes that could cause you to pay too much or miss out on… (read more)
Posted In: Home Buying, Lending, Mortgage
Safely Buying a Home During the Coronavirus Pandemic: What You Need to Know!
Posted In: Home Buying, Mortgage
