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First-Time Home Buyer Course From the UCU First Mortgage Program

Buying a home is a complex process for anyone – but especially for the first time home buyer. That’s why, at UCU, we offer more than some of the best mortgages for first-time buyers, with competitive fixed rates and superior customer service for all our mortgage loans. We also recommend and sponsor hoMEworks, an incredibly informative homebuying course just perfect for any future first-time owner.

In the hoMEworks first time home buyer class you’ll learn all about:

  • The entire home buying process
  • Money management and the true costs involved in homeownership, including property taxes, insurance, utilities, and more
  • Goal setting and preparing for homeownership
  • Mortgage loans, including how to find the best mortgages for first time buyers, mortgage rates, terms and conditions, loan types
  • How to qualify and obtain a first mortgage loan
  • The lender's view: determining creditworthiness and affordability
  • What to expect at your first home loan closing
  • How to get the best deal and avoid being ripped off

Reserve your seat today for any of our upcoming first time home buyer courses. The cost to attend is just $30 – and with your attendance, you could be eligible for the $3,500 Maine State Housing Advantage grant, which you can use to apply toward your mortgage loan closing costs!

Member Testimonial

"I can't stress enough how important attending the First Time Home Buyers class was in preparing me for this endeavor. All the information provided from types of loans, home inspections, insurance and much more helped lay the ground work for me to purchase this new home. On top of the information learned, the $3,500 from the Maine State House Program was an amazing addition to an already awesome learning experience. Thank you all for the work you did and will continue to do."

Vincent – Casco, Maine

Tips for First Time Home Buyers from UCU

We know that the idea of buying a home is an exciting one for any would-be first-time owner. It’s a vision that promises greater freedom, more stability, and even financial benefits, along with the pride of homeownership. But as exciting as it is to be a first time home buyer, we know that it can also be pretty scary.

At UCU, we’re here for our members through whatever goals you have – including buying a first home and getting a first home loan. And we’re here to provide the guidance, insight, and advice you need to make it easy. In addition to our hoMEworks first time home buyer program course, we want to share with you the following tips to keep in mind throughout the process of buying a home:

Prepare.

Getting ready to buy a home means much more than finding a real estate agent or some random online lenders. It means getting your finances in order. Making sure you’ve been paying your bills on time. Paying down other debt like credit cards. Reviewing your credit report and credit scores. Saving for a down payment. Getting pre-qualified for a home loan. Only when you’ve taken all of these steps are you truly ready to take the most exciting step of all: buying a home.

Prioritize.

As you consider what you’d like in a home, understand that you’re unlikely to find a home that offers absolutely everything on your dream-house checklist. So, prioritize the features that are most important to you and be willing to compromise on the rest. Also, keep in mind what kinds of features – like wall color – can be easily changed and which ones can’t.

Keep the long term in focus.

Remember that the best home for you is one you’ll want to live in for many years to come. While moving in a few short years is possible, it’s also expensive. If you sell too quickly, the costs involved in selling a home and moving to a new home could more than outweigh any financial benefit you gained from homeownership. So, as you consider what you need in a home, think about not only what you need today, but also what you’ll need at least five years down the road – or longer. If you have dreams of running your own business out of your home, adding to your family, or owning pets, for example, then make sure the home you shop for can accommodate those future goals.

Do your research.

Be prepared: buying a home can be like a huge research project, but it’s essential to get as informed as possible in order to make smart decisions along each step of the process. Throughout the home buying experience, you can expect to research neighborhoods, school district and school performance, commuter routes and transportation options, real estate agents and what neighborhoods they know best, home builders, property taxes, home age considerations, home inspectors, lenders, current mortgage rates, loan types and terms, and more.

Know what’s really important in a home.

There’s an old saying that the three most important qualities in a home are its location, location, and location. And it really is true! That’s because a home’s location can’t be changed but it is the most important factor in resale. Buying a home in a reputable neighborhood is your best chance at maintaining or even appreciating your home value and attracting buyers when you do decide to sell. It’s also a good indicator that the community surrounding your neighborhood will offer appealing amenities.

Know what’s really important in a lender.

The first thing a first time home buyer is likely to think about when considering a mortgage lender is the interest rate being offered. And while UCU offers some of the best rates out there, we also want you to understand that low mortgage rates are not the only thing you should look for in a lender. There are many lenders out there – from megabanks and mortgage-only operations to online lenders – so you have a lot to choose from. That means you’re likely to find a lender that offers everything you need. As you shop for a mortgage, look beyond the interest rate and ask yourself what else the lender offers. Do they offer an online application? Can you talk to a local lender? Are the loan decisions made and serviced locally? Do they offer an expert to walk you through the process? Will they customize their loans to your needs? There’s a lot to consider. For more information about how we work with you, contact a UCU mortgage loan originator by email or call 800 696 8628 for information.

Get the help you need.

Like we said before, buying a home is complex – and there’s no reason to go it alone. Make sure you have a team to support you throughout your homebuying journey. Start with friends and family members who can provide their advice and help keep you on track. Add a real estate agent who knows the area where you want to buy. And look for a lender who will be there to support you. Here at UCU, we’re happy to walk all our borrowers through the process from start to finish.

First time home buyer questions?

We have answers! Contact a UCU mortgage loan originator by email or call us at 800 696 8628 for information.

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NMLS ID: 407658