Achieve Homeownership With IAACU
June is National Homeownership Month! Owning a home is one of the most significant financial decisions you’ll ever make. That’s why you need a dedicated team by your side, guiding you through every step of the journey.
IAACU's Mortgage Team is dedicated to providing an exceptional home-buying experience. Recognized as The Best Mortgage Company in 2023 by The Pantagraph Readers' Choice Awards, here’s what makes us stand out:
- Personalized Service: Tailored solutions to meet your unique needs.
- Fast Response: Prompt and efficient handling of your queries.
- Competitive Fees: Enjoy below-average fees, saving you money.
- Transparency: Always know your loan status and have direct access to our team.
Buying vs. Renting: What's Right for you?
When you buy a home, you can choose a fixed interest rate, ensuring your principal and interest payments remain stable throughout the loan term. Plus, homeownership allows you to build equity over time.
In contrast, renting often means facing annual rent increases. While renting spares you from property taxes and maintenance costs, it doesn’t offer the investment potential that homeownership does.
Credit: The Key to Your Mortgage
Your credit score is vital in determining your loan-to-value ratio, interest rate, and monthly payments, making it essential to maintain good credit. With My Credit Score, you can monitor your spending, savings, and overall credit to be fully prepared for this step
Down Payment: Exploring Your Options
Start saving early for your down payment. While a 20% down payment is ideal for securing the best rates and terms, IAACU offers competitive rates with down payments as low as 5%. Plus, we can help you avoid costly PMI (Private Mortgage Insurance) and see if you qualify for grants through our Down Payment Plus program.
Choosing a Lender: Bigger Isn't Always Better
Finding the right lender can be challenging. Seek recommendations from friends and family, and choose a lender known for putting your best interests first. At IAACU, we service all our loans in-house, so you’ll always have direct contact with us. Plus, we do mortgage loans in all 50 states!
Applying for a Mortgage: What You Need
You can easily complete your mortgage application online with IAACU. Once submitted, your loan officer will request proof of income, including pay stubs, tax returns, and recent bank statements.
Closing: The Final Step of Homeownership
At IAA Credit Union, we know that home loans can be overwhelming. That’s why we’re here to help every step of the way. Check out our competitive mortgage rates today and take the first step toward owning your dream home!
Apply today to begin your homeownership journey!