Making Your House a Home: Advice for Mortgages

3/7/2018 |

Category: Lending Products

Making Your House a Home: Advice for Mortgages

Buying a house is a big investment, and Premier Source hopes we can help you afford your perfect home. We've partnered with CU Members Mortgage to assist our members with their mortgage needs. Our lending department will help you decide what payment options and terms you can afford.

Here's some advice for preparing for a mortgage!

Keep Track of your Finances

Make sure you have a good idea of your finances and income, and keep track of your bank statements, tax returns, and any other assets you own. Also monitor your credit history and score until you close on your loan. Your credit score can affect your interest rate on your loan, and it's important to know how much you can borrow and afford.

Make Sure You're Ready for a Home

Why is owning a home important to you? Buying a home is a big event in your life, and you should be buying a home for the right reasons. To make the most of the investment in your home, you'll need to be in it for the long haul. Stability in your life at the time of your home purchase is important, too. If you're in a career change or unsure of your current relationship, it can interfere with your home buying or long-term home plans.

Where to Get Your Mortgage From

There are many lending options available for mortgages, and it can seem like an overwhelming decision to choose which is best for you. Commercial banks offer mortgages, but so do credit unions. Credit unions are known for their lower fees because they pass on the savings to their members. You'll get personal service from your local credit union and understand the payments and terms you’re agreeing to.

Premier Source wants to see you be successful in life, and we'd be more than happy to be a part of your home search and purchase. Learn more about our mortgage services here or stop into one of our branches in East Longmeadow or Springfield for more information!

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