Second Home and Camp Loans
If you’re yearning for a new home away from home, UCU offers second home financing to help you get there. The home loan options can help you achieve your goals of owning a second home or camp. With unconventional financing options, great rates, and local friendly service, talking with one of our experienced mortgage loan originators is the best place to start. Call 800.696.8628 or email email@example.com.
Why you should get a home loan from UCU
You’re the boss.
No one works harder to help you reach your goals than UCU. That’s because UCU is owned by our members. It’s our job to serve you and meet your needs. Our mortgage experts understand that and will work with you one on one to fit the right home loan to your needs. We help make sure the loan you get works for your budget, savings, current income and debts, and future plans.
We’re from here.
We also make all our decisions locally. We don’t have to wait for decisions to be made at some distant corporate headquarters because our mortgage lenders are your neighbors, working right here in your hometown. That means we can get you answers fast and customize our home loans just for you. Being local also means we’re invested in seeing our community succeed – and all the people in it, including you.
As a credit union, UCU is a not-for-profit financial institution. That means any money we make is returned to our members, including our borrowers, in the form of great rates and affordable pricing. In other words, getting a home loan at a credit union like UCU is a great way to save on home loan financing.
We are still full service.
Even though we are local and not-for-profit, we offer a full range of mortgage solutions, so you’re sure to find what you need for your borrowing situation, whether you’re a first-time homebuyer, a seasoned homeowner looking to build on raw land, or anything in between.
We’re big on service.
We’re not a megabank, but we are big – on service. UCU understands that financial moves like buying a home are a big deal – so we offer the service and friendly expert advice you need to feel confident in your purchase right from the start.
Tips for your next home purchase
For most of us, a home is the largest purchase and investment we will ever make. That makes it especially important to prepare for your home purchase. Here are some tips to help.
TIP 1: Get your financials ready.
Before you apply for a home loan, get your financials in tip-top shape. Pay bills on time to help build a good credit history. Check your credit reports and address any problems you find. You are entitled to a free credit report each year from each of the major credit-reporting agencies (Equifax, Experian, and Transunion). And avoid taking out new credit cards or loans just before you apply for a home loan.
TIP 2: Get pre-approved.
Knowing how much you can borrow for your home loan will make the home-buying process easier and help you set realistic goals. A real estate agent is more likely to want to work with you knowing that you’re serious and ready to make an offer as soon as you find the home you want.
TIP 3: Determine your budget.
Even if you are pre-approved for a bigger home loan, your monthly mortgage payment should not exceed 25-30% of your monthly pre-tax income. Remember to consider the mortgage closing costs as well as insurance, taxes, utilities, and other costs – many of which increase every year.
TIP 4: Shop for neighborhoods before houses.
Before you tour a specific home for sale, you’ll want to consider “location, location, location.” Considered the most important factor in buying a home, its location can have a huge impact on price, return on investment, convenience, commute time, neighborhood amenities, and more.
TIP 5: Shop for a real estate agent.
An agent can help you through the entire process of touring and negotiating the price of your home. Ask friends for referrals or check local sales rankings to learn about top real estate agents who can help you.
TIP 6: Look past the surface.
It’s always better to buy a home with a good location and floorplan, even if that means you’ll be painting and installing new floors in the near future. So remember when you look at homes to make sure that the layout and flow of the rooms works for your lifestyle, even if the color and finish choices aren’t your favorite.
TIP 7: Tour the home.
There’s no substitute for seeing a home in person. It gives you the best feel for the floorplan, the environment, and the neighbors. Take plenty of pictures, too, and review them after the tour.
TIP 8: Get an inspection.
Even with new homes or recently built homes, it’s important to get a home inspection in the first few days after you’ve agreed on a price. The seller may not tell you everything that’s wrong with the house, and there may be problems they’re unaware of, too. If the inspector finds anything wrong, ask the seller to correct the defects or ask for a lower selling price so you can pay for the repairs yourself.
UCU is here for you with affordable home loans. We make it easy.
NMLS ID: 407658