Buying Your First Home
There are few things in life as rewarding as owning a home. We can help you take the first crucial steps toward becoming a home owner: securing your financing.
Owning a home is the American Dream! But the process of actually finding your dream house, as well as figuring out how to finance it, can often cause stress. That's not too surprising since a house is probably the single largest purchase you'll make in your lifetime.
At Silver State Schools Credit Union, we've helped countless members become homeowners. And now we're ready to help you. Whether you want to buy your first home or upgrade to a larger home for your growing family, the Credit Union is here for you.
Financing your dream house
Before you start house hunting, it's recommended that you complete an application for your loan. This will help you determine exactly what you can afford. With this knowledge, you can narrow your search, and avoid disappointment if you fall in love with a house that's out of your price range. So where do you start? Visit our Mortgage Center.
Because everyone's financial situation is different, we offer many different ways to finance your home. For example, our First Mortgage program, offers fixed and adjustable-rate options. We also offer a first-time homebuyer's program to help new borrowers enter the world of home ownership.
To get a better idea of how much you can afford, use one of our many mortgage calculators. You can learn how much money you'll need for a down payment or estimate your monthly payments.
Saving for your first home
One of the biggest challenges potential homeowners face is making a down payment. Saving $10,000 is a lot of money if you're just starting out. To help save money for a down payment, consider a Silver State Schools savings account. With Direct Deposit, you can have your paycheck automatically deposited into your Checking account, with an Automatic Transfer to a special savings account for that purpose. You'll avoid the temptation of spending all our money as soon as you get it, and, you'll earn interest on your savings.
To really maximize your earnings, try a Certificate account. With a minimum deposit requirement of just $500, and flexible terms, you can put your savings on the "fast track" and earn more money at a quicker pace. With just a little discipline, you'll be on your way to home ownership in no time at all.
