Does the whole mortgage process leave you lost and confused? City Credit Union is here to help! I am happy to answer any questions you may have regarding your home loan options including fixed and adjustable rate mortgages, conventional, FHA or VA home loans, interim/construction loans or refinancing.
If you have a question, simply click on the submit a question link. All questions will be answered within 2-3 business days with some appearing in the member newsletter. Check out the Home Zone section for important tips and information on the mortgage process. To talk in person, please feel free to contact me at 214-319-3048.
Questions & Answers
Q: This year I hope to purchase my first new home. What are some things I could be doing now that will help me later in the year when I'm ready to purchase?
A: Clean up your credit
Before applying for a home loan, order a copy of your credit report and FICO score. With this information, you will be able to determine how much money you qualify for and, most important, what negative information appears that will affect your application and interest rate.
For example, if you've had several late payments, start 6 months prior to applying for your mortgage and make payments on time, every time. You may be able to improve your credit score and the interest you'll pay on your loan. Plus, you'll have enough time to contact the Credit Bureau(s) in writing to explain or correct any outright wrong information. Looking at your credit on a regular basis is also a good way to spot any instances or identity theft. It's all about you, so be aware of what's being recorded
Collect your records
Start now to get the required documentation in order. Create a file, even a shoe box will do, and start saving important papers needed at the time of application, throughout the loan process and prior to closing.
Linda Mitchell Real Estate Coordinator
Do you have a question about the home loan process? Email Linda Mitchell at realestate@citycu.org or call her direct line at 214.319.3048 or submit a question online by clinking the link below.
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