Buying Your First Home
For most people, buying a house is the single biggest financial investment they’ll make.
Identify Your Price Range
It would be frustrating to start looking at houses, find one you love, and then discover that you can’t afford it. Save yourself the heartache by working with a mortgage provider before you start searching. They’ll let you know how much they’ll lend you, how much of your own money you’ll need to bring to the table, and what your monthly payments will be at various mortgage levels. Even first-time homebuyers can get pre-qualified for a mortgage loan, which could be a help if the house you select has other bidders. You can also get a general idea of your price range using this tool from the National Association of Realtors. Don’t forget to consider other costs when deciding how big to go — you can sometimes roll your property tax and home insurance into your monthly mortgage, but you’ll still need to pay for your monthly utilities and possibly a Homeowners Assessment or other fees, depending on where you buy.
Wherever you buy, in Colorado or even out of state, On Tap Credit Union’s home consultants are here to help you navigate the mortgage process. For more information on your options, give us a call at 303.279.6414. On Tap Credit Union also has a list of preferred realtors to help you through the search and closing process.