First-Time Homebuyer Guide
Nervous about buying a home? Our guide's got you covered!
Your Credit Score
Good credit is crucial! Your credit score is a number that shows how likely you are to pay back a loan on time.
Credit is based on a few different factors, so to build good credit, remember to use it responsibly, pay your bills on time, and only spend what you can pay back. Your credit score can go up or down depending on how much credit you have access to, how much you’ve used, and your payment history. A higher score is always better—it makes you more likely to qualify for a home loan.
There are a number of ways to check your credit. Federal law allows you to obtain a free copy of your credit report every 12 months from each credit reporting company's website. Click the link below to get started.
To reach Experian you can visit them online or call 1.888.397.3742
To reach Equifax you can visit them online or call 1.800.685.1111
To reach TransUnion you can visit them online or call 1.888.909.8872
Refrain from making larger purchases during the home buying process. Consult with your mortgage loan officer before making any financial decisions that could affect your monthly payments and credit score. If you have questions about credit or how to build credit, call us at 800.223.1983 or make a free appointment online.
- First-Time Homebuyer Main Page
Nervous about buying a home? Our guide's got you covered!
- Is Buying A Home Right For You?
Knowing when to buy can be tricky. Learn what you need to think about before looking for your new home.
- Homebuying Costs
Don't get caught by surprise. Get a clear picture of what to expect during your home buying process.
- Get Pre-Qualified
Getting pre-qualified is the first step. Learn how to do it and what it mean.
1Must be 18 and older to qualify. Down payments are examples only and do not include closing costs, prepaid interest, taxes and homeowners’ insurance. Down payment amount and mortgage loan amount will vary based on purchase price amount, credit score and income. Payment example on a loan amount of $355,410: 360 monthly payments of $2,601.68 at 8.042% APR which includes a down payment of 1%, purchase price $359,000. Estimated closing costs of $5,397.00. Pre-paid interest, taxes and homeowners’ insurance are not included in closing costs or payment example and can vary. An AACU rewards checking account is required with direct deposit to qualify. Membership requirements apply. Restrictions and requirements apply. Program subject to change. Equal Housing Lender.
Membership requirements apply. Restrictions and requirements apply. Equal Housing Lender. Air Academy Federal Credit Union: NMLS# 454287