I'm Ready to Be a Home Owner!

How exciting, but where do you begin?  Don't worry, no one knows all the answers when it comes to purchasing your first home.  From what is your price range, to is this an appropriate rate requires assistance from an expert.  That's where TEFCU comes in.  We will provide you with the expertise needed to make sure you have a smooth transition to home ownership.  Even though buying a home can seem like a daunting task to the first-time buyer, learning about the process can make it feel less overwhelming. Many people have done it before, and you can do it too!

• Save for down payment and other home-related costs. Make saving a regular habit. The earlier you start, the more cash you will have for a home.
• Build credit score. Many lenders require a score of at least 626 to get a mortgage, and those with scores above 720 usually get the best interest rates. If you had credit problems in the past, making payments on time in the future, lowering your balances, and paying off collection accounts can boost your score and make it easier to get a mortgage.
• Get pre-approved for loan. While you can apply for a mortgage after you make an offer on a house, consider getting pre-approved for one beforehand. Being pre-approved helps you determine what you can afford and strengthens your offer.
• Search for and choose a property. Think about what features you want in a house, and keep your budget in mind. A real estate agent can be a valuable asset in your home search. Once you find the home you want, you can make an offer.
• Enter the pre-closing period. If your offer is accepted, you can have a home inspection done and notify your lender that you found a home. Make sure to remain in contact with your lender and promptly provide them with anything they need.
• Attend closing. Closing is the day that the mortgage is finalized, and the title of the home is transferred to you. There is a lot of paperwork to sign, but take the time to read and understand everything. After you sign all of the documents, you will receive the keys to your new home!

You do not need to go through the process alone; lean on us, we'll show you your options.

Helpful Resources

Save money, save time, save the hassle! Whether buying or selling a home, CU Realty offers a variety of tools to save you time and money; you can shop online for your next home, learn the value of your current home and save thousands with every real estate transaction when you use our free, comprehensive real estate and rebate program.

With TEFCU and CU Realty, you'll get unrestricted access to all the tips, tools, and data you need to make informed decisions plus you'll get a cash rebate - up to 20% off your agent's commission - when you buy or sell using a CU Realty Approved Agent.  Simply click here to connect directly to the CU Realty registration, Realtors and home search database.

Learn More:

Check out our Home Loan product overview ►

Get Started:

All you need to do is log onto our Online Mortgage Center at CUMA's website .  Then simply click "Apply" from the left hand side of the page.  Or, if you would like to speak with a Member Services Mortgage Specialist, call (800) 231-8855.