Resources to Help You Buy a Home

Homeownership is a big financial step, and knowing if you’re ready to buy now can save you disappointment later if you discover you can’t afford it. A good place to start is a simple mortgage calculator that will help you determine how much you can afford and what your mortgage payments might be.

We also recommend that you discuss your options with a mortgage expert. Our real estate team is available to talk. You can also connect with Balance or another local East Bay housing counselor, approved by the U.S. Department of Housing and Urban Development (HUD).

If you’re not ready just yet, that doesn’t mean you won’t ever be. Establishing good credit, paying down debt, and saving for a down payment can help get you closer to homeownership. We recommend you speak with a mortgage professional early in the process so you know what you need to accomplish in advance, making for a smoother application process.

Whether you choose to get pre-approved for a mortgage or wait to get financing, you’ll need to find a home to buy. The internet is a good place to start. There are many websites available to help you search for a home including Zillow, Trulia, Realtor.com, and others.

Some people prefer to work with a real estate agent to help them find a home that suits their needs. The Bay East Association of Realtors will let you search for a local real estate agent by name, brokerage, or website.

Affordability is a big concern when buying a home in the Bay Area, but several local programs are available to help, including:

Some of these programs don’t always have funds available to help with financing, so be sure to visit their websites or contact the associations directly for updated information. Beyond these local programs, VA loans and FHA loans might be options available to help you with purchasing a home.

A purchase as big as a home comes with a detailed application and financing process. Homebuyers have plenty of decisions to make on the type of mortgage they want. Considerations include the term, such as 30-year or 15-year mortgage, and whether you want a fixed or adjustable rate. You can and should research these choices. We can also help you decide which option is best for your financial situation.

From filling out forms to the documentation you need to provide, the application process is as easy at our Credit Union as what you might find with a bank or a mortgage broker. There are still many steps in the process, but we are readily available to walk you through it while answering all your questions along the way.

Perhaps the greatest advantage of working with 1st United Credit Union when buying a home is the personalized attention you’ll receive. We are dedicated to our members, taking the time to learn about you and your homeownership dreams. And like all credit unions, we exist to serve our members. You’ll never feel pressured into a mortgage that doesn’t make sense for you and your financial goals.

Do you have any questions about the mortgage process? We’re happy to help. Email us to get started.