First-Time Homebuyer Guide
Nervous about buying a home? Our guide's got you covered!
Once you're ready to jump into the homebuying process, the first big step is to get pre-qualified for your home loan with one or more lenders.
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Pre-qualification means getting qualified in advance for a home loan up to a specific price range. For example, if you are pre-qualified by a lender up to $350,000, this means that lender is willing, under certain conditions, to lend you money for a house with a purchase price up to $350,000.
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Pre-qualification allows you, the buyer, to act fast when looking for a home. This can mean the difference between your offer being accepted or losing your bid to another buyer.
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Lenders pulling your credit score for pre-qualification can affect your credit score; however, if you would like to work with multiple lenders to compare rates, it is typically possible for multiple lenders to pull credit reports for your application within 14 days before it may affect your credit score.
If you still have questions about getting pre-qualified for a home purchase, give one of our expert loan officers a call at 800.223.1983 or schedule an appointment today!
Finding A Home
Once you’re pre-qualified, it’s time for the fun part—house hunting!
If you’ve got a real estate agent, they’ll guide you to find homes in your price range that match your needs. Keep your budget in mind and hold off on big purchases or new loans until you’re settled in your new home. When you find a home you love, be ready to move fast and make sure your lender has everything they need. Don’t hesitate to ask questions—lean on your loan officer and agent for their tips and advice!
- 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.
- Credit Guide
Good credit is crucial! Explore what to look for and what it mean on your credit report.
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