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Purchasing a Home

Couple packing their shoes into a moving box

Purchasing a Home

Over time, home ownership continues to be a very smart investment. The most important element of purchasing a new home is ensuring you’re buying something you can truly afford.

Do Your Homework
Smart home buyers know that taking time to plan and do some “homework” before you begin shopping seriously for a home can save time, prevent potential headaches, and help you get the most home and the best value for your money. Laying a foundation for what kind of home you need and want, where to find it, and how much you can afford to pay for it will get you ready to shop for a home and negotiate its purchase.

For more information on planning for your home purchase, visit Chapter 1 of our StraightTalk Home Buying Guide.

Shopping for a Home
Perhaps one of the most exciting and overwhelming parts of the home buying process is actually looking for a home that meets your requirements. However, before you even start to look for that home, you should ensure you have your financing in place with your lender. Getting pre-approved for your financing ensures you can move quickly when you find that perfect place and it also shows sellers you’re a serious buyer.

CCU offers free and easy online mortgage pre-approvals, or call us to talk to a mortgage originator to get started.

For more information on shopping for a home, visit Chapter 2 of our StraightTalk Home Buying Guide.

Purchasing a Home
You’ve found a home that you like—and it fits your needs and budget. It’s time to make an offer. But are you ready? Before you fill in the blanks on your buyer’s offer to purchase form, you need to carefully consider what terms and contingencies to include. Although your buyer’s agent can help you with these (if you are working with one), having a basic understanding of some of these considerations is a must.

For more information on the purchase process, visit Chapter 3 of our StraightTalk Home Buying Guide.

Protecting Your Asset
With the purchase of a new home also comes the need for homeowners’ insurance, as well as private mortgage insurance (PMI) if your down payment is less than a certain percent of the amount financed. CCU is here to help you protect your assets – just contact our mortgage team for more information.

You may also wish to consider additional life and disability insurance on your mortgage to help ensure there will be enough money to pay off the mortgage in the event of your death or if you become disabled. Our team is available to answer questions on this option and provide you with resources to access this coverage.