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Resources for First-Time Homebuyers

Buying your first home can be exciting and scary. Where do you begin and how do you know what’s right for you? FORUM offers great resources to help you get started.
 
FORUM’s free, online First-Time Homebuyer Resource Center can help you explore some major factors you’ll encounter during the home buying process including the following:
 
  • Identifying the perfect home. How much can you comfortably spend on a home? Would you like a single family home, a condo, or a planned unit development? How many bedrooms and bathrooms do you need? Click here to take a look at a full checklist.
  • Understanding home ownership costs. When you purchase a home, there will be one-time fees as well as recurring expenses. One-time fees include items like a down payment, home appraisal, home inspection, and closing costs. Recurring expenses include your monthly payment, private mortgage insurance, homeowner’s association fees, utilities, and more.
  • Exploring your options. FORUM offers a variety of loan options to choose from including fixed rate mortgages (fixed for the term of the loan) and adjustable rate mortgages (rate can change over time after an initial fixed period). You can also receive a free preapproval before you start shopping so you know how much you can afford.
When visiting the resource center, you’ll also find helpful checklists, mortgage calculators, and aglossary of mortgage terms. In addition, FORUM offers a comprehensive First-Time Homebuyer Guide. This user-friendly, online guide explores everything from building vs. buying to locking your interest rate.
 
Purchasing a home is a major life decision, but choosing your dream home should be the tough part, not the mortgage process. Our FORUM Mortgage professionals are available to help if you have any questions. Call 866.367.8600 or 317.558.6420, or email forummortgage@forumcu.com


Posted: 6/29/2015 with 0 comments

Categories: Credit, Finances, Homeownership, Planning



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