Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Must Do’s For First Time Homebuyers In Killeen TX

15. August 2014 Administrator Blog (0)

Buying a home is a big investment which requires a lot of hard work. If you have made up your mind to own a house then there is a list of things that you should consider. Home buying can be quite a lengthy process and it would be a safe bet if you have good knowledge about the whole process. Listed below are some of the most important things that every buyer must know before initiating the process of owning a home.

Pre-approval is necessary

Even if you have a huge amount of cash in hand, you will need the help of a lender. It would be good if you consult your home loan financier before even starting searching for a home. During this, you may be asked to provide detailed information about your income and finances.  With the help of this information, your lender will be able to provide you an outline of the cost that you will be able to afford which will be your first guideline to search a home.

Take the help of an agent

Taking the help of an agent is purely up to the personal choice of every buyer. However, hiring an agent can assist you throughout the process of buying. They have a fair idea about the available properties and their estimated market prices while helping you sign a reasonable deal. The realtors will also work out all the price negotiations with the seller.

Signing the agreement

Once the buyer and seller agree upon a price, the agent makes them sign an agreement. This will secure the deal for both the buyer and the seller and will include all the details about the property like the agreed price and the legal description of property.

Financing and Mortgages

You should make sure that you have selected the best home loan option. Credit unions are a better option when it comes to financing a loan. They provide instant approval for various types of secured as well as unsecured loans.

Keeping all the above point in considerations, you can’t go wrong while buying a home for the first time. But, it is important that you choose the correct and reliable home loan plan for you. We, at Greater Central Texas Federal Credit Union, provide all types of secured and unsecured home loans in Texas. For any information, you can call us at 254-690-2274.

GCTFCU Blog | Tips To Get The Best Home Loan Deal In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Tips To Get The Best Home Loan Deal In Killeen, TX

7. December 2015 Administrator Home Loans (0)
A credit union is a community organization run by a group of individuals for their own members. Borrowers are increasingly opting for credit unions owing to the ease of getting a home loan from these organizations.

If you are on the lookout for an affordable home loan in Killeen, TX, there are some factors that you need to consider. Do a thorough research about the various credit unions and finalize the one where you can get the best home loan deal.

The following factors should be considered when applying for a home loan:

  • Ask for quotes from various credit unions: Different credit unions will offer you varied rates of interests on home loans. Make sure you ask for a quote to have an idea about your monthly repayment amount. Apart from the rate of interest, you should be able to know the limit up to which you can borrow. Compare quotes from different credit unions and finalize the one that offers the lowest rate of interest.
  • Fixed or adjustable rate loan: You can choose to get a home loan at a fixed rate of interest or an adjustable one. In case you select a fixed rate, the repayment amount remains constant throughout the loan term. On the other hand, the interest charged on adjustable-rate mortgage fluctuates over the time period of your loan. This eventually means your repayments will vary as well.
  • Choosing the loan term: You can get to choose a customized loan term from a credit union. Therefore, you can decide the amount of time it will take you to return the home loan. Depending on your income and expenditure, you can settle for a particular number of years within which you will be able to repay your loan. Though a longer duration can lower your monthly payments, it would eventually lead you to pay more interest.
  • Fees and charges: Check if you need to pay any fees or additional charges before getting a home loan approval. These may include ATM fees, loan fees, wire transfer fees etc.
We, at Greater Central Texas Federal Credit Union, offer hassle-free home loans in Killeen, TX. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.
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