Purchasing a home is probably the biggest decision you will make.  You want to make sure you get your dream home along with the best financing, rates and terms available.  DuTrac Community Credit Union can help make your dream home a reality.  Our Real Estate Loan Consultants are here to help you find out which loan type will work best for you and your financial needs. 

Other things to consider before purchasing your home are:

1. Determine your budget.  You should determine a monthly budget, income minus expenses and savings, to determine how much of a mortgage payment you want to take on and how much you will spend on housing.  In addition to your mortgage payment, which includes principle and interest on your loan, you will also have a monthly tax and home owners insurance payment. Most borrowers roll their taxes and insurance into their loan payment.
2. Find out how much you can borrow and determine the best type of mortgage.
   You can use our mortgage calculators to get an idea of how big of a loan you qualify for using your income and expenses. In addition to a traditional 30 year fixed rate mortgage, there are many other types of mortgages available. 
3. Get pre-qualified.  This process can be initially be done over the phone in as little as 10 minutes, but ultimately you will need to meet with your loan consultant to sign pre-loan documents and to provide the loan consultant with your personal documents like, financial statements, pay stubs, W-2's, etc., to determine exactly how much of a loan amount you can qualify for and get you pre-approved.
4. Using the Internet, or a realtor, find homes in your chosen areas and price range.
   Using the Internet to identify some homes saves time for both you and your realtor.  This allows you to quickly and efficiently narrow down your search to only those homes that meet your criteria. Using the Internet in this manner also helps educate the home buyer as to what is available within their price range. Contact a Realtor and start visiting homes you are interested in.
5. Contact a Realtor.  A good realtor can make home shopping easier by using different tools available to them to search through even more homes, get you appointments to "walk through" homes you are interested in, and ultimately negotiate the price and write a purchase offer for the home you choose.
6. Make an offer and sign purchase agreement.  If your offer is below the asking or listing price, the seller will respond with a counter offer. This is where it is important to be working with a good realtor as there are many things that can be considered in the negotiations like; who pays closing costs, will things like appliances and washer and dryer be included, day date and time of closing.  Once the seller agrees to accept your offer, you will need to have the home inspected and appraised. Generally all offers and purchase agreements are contingent on a satisfactory home inspection and an appraisal that supports the selling price.
7. Home inspection and appraisal.  Your realtor can provide you with the names of some quality home inspection companies.  Your Real Estate Loan Consultant will order an appraisal.
8. Close loan.  The closing usually takes place at your financial institution and generally takes about 1-2 hours. The attendees include the Sellers and their agent, the buyers and their agent and the Real Estate Loan Consultant.
9. Property Insurance.  Buying a home is one of the single largest investments that most people every make.  You need to protect that investment and with MEMBERS Home Insurance, you're covered.  Get a FREE quote, understand coverage's, and keep your home safe. 
10. Move into your new home!!  This is the final step in purchasing your dream home. Once your closing is complete, and you are given the keys to your new home you can make your dream a reality.

Members Auto and Homeowners Insurance is underwritten by leading insurance companies, including Liberty Mutual Insurance Company and its affiliates, 175 Berkeley Street, Boston, MA. Insurance coverage and discounts may vary by state. Group discounts are not available in all states. To the extent permitted by law, applicants are individually underwritten, some applicants may not qualify. A consumer report from a consumer reporting agency and/or motor vehicle will be obtained on all drivers listed on your policy where state regulations allow. The insurance offered is not a deposit and is not insured by the NCUSIF or guaranteed by your credit union.