Is Now a Good Time to Buy?

eNEWS_2016_08_promo-4

Research is showing that housing prices are still on the rise. Although the local market is considered a “seller’s market”, is it actually a good time to buy? The simple answer is yes!

As your financial partner, we want to always make sure to steer you in the right direction and ensure that we are providing the best rates, service, and advice. If you are curious about your options we have mortgage experts available to help with all of your home buying needs.

The biggest benefit of buying a home in the current market is that interest rates are still low. You can buy a home from us with a 30 year fixed conventional loan, and receive a rate as low as 3.125%*. Before the market crash in 2008, interest rates were sitting around 6.00%. The difference between the two rates is thousands of dollars when paid back over a 30 year period.

However, there is currently no guarantee that the rates will remain low. The government is currently helping influence the lower rate, but there have been rumors for some time now indicating that this “influence” will stop sooner than later and allow the market to adjust accordingly (meaning the rates will rise).

On top of great interest rates for home loans, tax benefits of homeownership are great too! Don’t wait too long to decide to buy. Visit https://uccu.mortgagewebcenter.com/ to be pre-qualified today or call us at 801-223-7640 to speak to a home loan specialist today!

*Please note that the interest rate shown here are available based on a 740+ credit score. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here.
Share Button

Simple Steps to Buying Your First Home

eNEWS_2016_07_1stTimeHome
Buying your first home doesn’t have to be intimidating. Follow these simple steps designed to help you through the home buying process.

  1. Get pre-qualified – Meet with a qualified home loan specialist to find out exactly how much you qualify for, and what documentation you will need to provide. A credit check will usually be completed by this part of the process.Documentation Needed for Pre-qualification:

    A. 2 recent pay-stubs
    B. 2 months of bank statements to verify funds that will be used
    C. Government issued ID
    D. Most recent year’s tax returns

  2. Find a home – Now that you’re pre-qualified, it’s easier to find the right home. A realtor can help you find the right home for you and, when ready, help with the purchase contract. They are a great resource, but aren’t required for the home-buying process.
  1. Begin loan application – Pre-qualification was just a preliminary step. Once you find a home, and have an accepted offer, we can begin the loan application. If anything has changed since your pre-qualification, updated documentation may be necessary along with a copy of the purchase contract for the home.

4. Complete Due Diligence – A buyer’s due diligence are the things the buyer needs to complete to finish the home purchase. These include:

A. Home inspection
B. Final loan approval

5. Closing – Once all the above steps are completed, you’re ready to close. This is the big day! All parties involved will schedule times to sign the necessary documents to transfer home ownership to you.

 

 

 

The home buying process can seem daunting, but don’t let that overwhelm you. Any Mortgage Loan Professional at Utah Community Credit Union can help walk you through the process. Speak to our mortgage professionals today at 801.223.7640.

Share Button

The Buzz about UtahHomeBuzz.com

What'sTheBuzzAbout_2Everything we do at Utah Community Credit Union is to help make seemingly daunting tasks easier for you, our members. So when the opportunity came to make improvements to the home-buying process, we jumped on board!

UtahHomeBuzz.com has been created to add convenience to the home-buying process. It gives you the ability to shop every house in the state of Utah without having to leave the comfort of your home. Whether it’s the home of your dreams and you want to know when it hits the market, or a hot new foreclosure you want to take advantage of, UtahHomeBuzz.com is ready to work for you!

Other great features available through UtahHomeBuzz.com include:

  • Complete home listings (including pictures and price history)
  • The ability to search by city or on Google Maps
  • Save your favorite homes to view later
  • Support for selling your home
  • Up-to-date mortgage interest rates
  • Getting loan pre-approval right on our site

Visit UtahHomeBuzz.com today and see what the buzz is all about!

Share Button

Buyer Relax Auto – Why It's Good to Get Pre-Approved

AUTO eNews Image

GET PRE-APPROVED

Buying a car can be stressful, that’s why at UCCU try to help you get the best deal and lowest rate possible. At UCCU Relax, we have useful tips and information for those who are buying a car, or a boat, or an RV. Read the  10 ESSENTIAL CAR BUYING TIPS  to help you through each part of the car buying process.

One of the best things to do, before even looking for a car, is to get pre-approved. It will save you the hassle of haggling at the dealership when you tell them right from the start what you can afford. Plus at UCCU we have the lowest rate—guaranteed. So you can shop with confidence.

Utah Community Credit Union makes buying a vehicle easy. We take pride in helping you with your vehicle purchase by offering low interest rates on all of our Auto Loans! Apply now!

AUTO eNews Image

Stop by any UCCU branch or call our Auto Buying Experts at 801-223-UCCU and we’ll help you make an effective car-buying plan. We’ll also get you pre-approved for the lowest rate and review every transaction with you before you sign the deal.

*ANNUAL PERCENTAGE RATE (APR). Late payment fee is 5% of the payment due or $25.00, whichever is greater. Some restrictions apply. Rates, terms, and conditions are subject to change without notice. **84 month financing available for loan amounts over $20,000.

 

Share Button