Buying a house is a big step. In fact, it is typically the biggest financial a person can make in their lives. With the right information and some guidance, owning a home can be more within your reach than you think. Below, we at PEFCU answered frequently asked questions about buying a home. Q: Do I need excellent credit to get a mortgage? What does my credit score need to be? A: When we receive your credit report, we don’t only review your credit score, but we view your credit history. Q: How much is needed for a down payment? A: PEFCU requires 5% down payment of the purchase price plus closing cost. The…
Your Mortgage Questions Answered
Buying a house is a big step. In fact, it is typically the biggest financial a person can make in their lives. With the right information and some guidance, owning a home can be more within your reach than you think. Below, we at PEFCU answered frequently asked questions about buying a home. Q: Do I need excellent credit to get a mortgage? What does my credit score need to be? A: When we receive your credit report, we don’t only review your credit score, but we view your credit history. Q: How much is needed for a down payment? A: PEFCU requires 5% down payment of the purchase price plus closing cost. The…