Home Buying Guide
From A to Z, familiarize yourself with the home buying process with the help of Destinations Credit Union. Review our helpful Home Buying Guide for advice on signing the paperwork, determining if you're ready to buy, choosing a real estate agent, increasing your borrowing power, and much more.
Home Buying Tips
Planning to buy a home soon? Take advantage of Financial Security Consultants, Inc. Helpful tips and professional consultations can build confidence surrounding such a major purchase.
Are you considering ways to improve your financial position? One good thing to look at is your existing mortgage loan.
It's a good idea to re-assess your mortgage financing every few years. In that time, a lot can happen in your life. You've built equity in your home. Your income may have increased — or decreased. You may have accumulated additional debt, or paid down debt you had when you first took out your mortgage. And of course, mortgage interest rates have changed. The loan that was the perfect fit originally may not be right for you today.
If your income has increased or you've paid down your debt, consider refinancing for a lower interest rate and shorter term. You'll reduce your interest costs and better position yourself to enjoy a comfortable retirement or pay for future college expenses. If your income is less now due to retirement, one spouse staying home with children, or other factors, you may be able to reduce your monthly mortgage payment with a lower interest rate. In either case, refinancing to pay off consumer debt may also be helpful in increasing your tax deduction and reducing your monthly debt burden.
It takes only a few minutes to determine if a change in mortgage financing is right for you. Our mortgage consultants can help you compare your current mortgage's interest rate and monthly payment with the low interest rates available in today's market to determine if refinancing would be beneficial based on your current financial situation and needs.
Take a minute or so to give yourself a mortgage check-up today by calling Financial Security Consultants, Inc., your credit union's mortgage partner, at (410) 823-3300 or 1-800-730-7599.
Real Estate Glossary
Have a good understanding of the mortgage process with a good understanding of the common terminology. Brush up on your real estate vocab with the help of common mortgage terms provided by Financial Security Consultants, Inc.