Buying Your First Home: Robins Financial Credit Union

When you’re thinking of buying a home
it’s important to think about the big picture. Where do you see yourself in five years? Married? A new job? A baby? Relocating? You’ll want to make sure that adding a new home
fits in with your long-term goals. Once you’ve decided that buying a home
is part of your plan, you’re ready to start on the journey,
which can be divided into three stages. Preparing and finding your house, Applying for your loan, and closing. The first stage starts with looking at
your current financial situation and establishing a realistic budget. Robins Financial provides online calculators that will
show you a clear picture of monthly income and debt, and will estimate the most you should spend
on a monthly mortgage payment and the maximum amount you should borrow. Once you have a rough idea, you can gain a little more certainty by getting pre-approved through Robins Financial. A pre-approval letter helps you figure out
the price range of homes you can afford, and shows agents and sellers
that you’re a serious buyer. With your loan pre-approval in hand, you can set off on finding your perfect home,
making an offer, and negotiating the price. When the offer is accepted, the next stage of
the process is completing your loan application. You’ll meet again with your mortgage specialist
to discuss and lock in your interest rate as well as select the mortgage loan
program that fits your needs. You will received preliminary and then final documentation about your loan. Be sure to review these carefully
with your loan specialist. During this stage will also arrange an appraisal, set up your insurance, and finally, schedule a closing date. Closing is the final stage of the journey. Make sure you’re aware of whether you or
the seller will be paying closing costs so you can bring payment if needed. Also, be ready to sign several documents
to finalize your home purchase and once this is done, you’ll be handed
the keys to your new home. Whether you’re ready to buy, or just thinking about it, it’s never too soon to talk with a lender
from Robins Financial Credit Union. For more information call, click, or
visit any of our branch locations.

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