Your Step-by-Step Guide to Buying a Home with Raiz Federal Credit Union

Whether you’re a first-time homebuyer or moving into your forever home, understanding the mortgage process will empower you to pursue your dream confidently.

Step 1: Check Your Credit and Budget

Before you dive into house hunting, let’s first get a clear view of your finances:

• Check Your Credit Score: A strong credit score can open the door to better mortgage rates, so it’s worth taking a look before you apply.
• Create a Comprehensive Budget: Think beyond the down payment—factor in your future monthly payments, property taxes, insurance, and maintenance costs.
• Use Our Free Mortgage Calculator: This handy tool will help you estimate what you can comfortably afford, paving the way for a realistic financial plan. Starting your home-buying journey with clarity sets you up for success!

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval not only proves you’re a serious buyer but also helps you know your price range. When you apply with Raiz:

• Our knowledgeable loan officers review your income, credit history, and debt-to-income ratio for a thorough assessment.
• You’ll receive a pre-approval letter, enhancing your negotiating power in a competitive market.
• As a valued Raiz member, you can enjoy lower rates and fewer fees than you’d find at a traditional bank.

Step 3: Find the Right Home

With your pre-approval in hand, you’re ready to start looking for your dream home:

• Collaborate with a trusted real estate agent who knows the local market inside and out.
• Create a list of your must-haves: location, size, and specific home features that fit your lifestyle.
• Remember to schedule a professional home inspection, which will help you avoid any unwelcome surprises later on.

Step 4: Complete Your Financing with Raiz’s Conventional Loan

At Raiz, we’ve streamlined the mortgage process with our powerful Conventional Mortgage Loan, designed for your flexibility and long-term satisfaction.

• Fixed-Term Conventional Loans: Choose from 30‑, 20‑, or 15‑year fixed-rate options for predictable monthly payments that align with your financial goals.
• Low Down Payment Options: You can afford homeownership with as little as 3% down—because buying your dream home should be accessible!
• Fast, Local Closing Process: With in-office underwriting and local decision-making, expect quick closings—often in 30 days or less—so you can settle in without the holdup.
• Personalized, Local Service: Our dedicated Mortgage Loan Originators understand the El Paso and Las Cruces housing markets, providing tailored guidance and support every step of the way.

Why Choose Raiz Conventional Loans?

• Stable fixed rates to keep your mortgage payments predictable.
• Low down payment options that simplify the buying process.
• Local underwriting for quicker responses and faster approvals.
• Perfect for both first-time and repeat buyers, with unwavering support from your credit union throughout your home buying experience.

Step 5: Close on Your New Home

Once your offer is accepted, we’ll be by your side:

• Our expert team will guide you through the final underwriting and documentation process.
• You’ll happily sign the closing papers, marking the moment you officially become a homeowner!
• We’re here for you even after closing, offering refinancing and home equity solutions as your life evolves.

Why Choose Raiz Federal Credit Union for Your Mortgage?

• Competitive, member-only mortgage rates
• Personalized service from friendly, local loan experts
• Educational resources designed for first-time buyers
• Easy online application for a seamless start-to-finish experience

Ready to Begin Your Home Buying Journey?

Your dream home is closer than you think! Apply online today or connect with one of our friendly Mortgage Loan Originators to get pre-approved and take your first step toward homeownership.

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