Home buying tips

Buying a home is an emotional experience and we’ve got some tips to make it easier.

Get pre-approved for your mortgage. Oregon State Credit Union can pre-approve you for a home loan at any stage of the house-hunting process, enabling you to have better success when you’re shopping for your new home. If you haven't owned a home in the last three years you may qualify for our First-time Homebuyer loan.

Select a house that you can afford. Keep in mind lenders will evaluate your total debt-to-income ratio when deciding to approve or deny your application for a home loan.
Make a price offer you are comfortable paying for your new home. Use our helpful amortizing loan calculator to explore monthly payments based on the total loan amount, interest rate and loan term.
Budget for the post-move expenses. You’ll be amazed how many expenses can crop up right after you move, and no matter how carefully you think you’ve outlined the purchase agreement, you’re going to need to make some extra purchases. Having the money set aside will help you deal with the unexpected. And, on the off-chance you don’t spend the money, you’ve made a good start on an emergency fund.
Make the down payment as large as possible.
Pay for a high-quality inspector. He or she will be worth the extra money in the long run for what they can save you in extra expenses.