Home Buyers

Contact Scott Baker today at 919-684-2066 and ask him for a FREE no-obligation mortgage analysis. Apply Online. Want a review of your credit report before you buy? Get help from Balance.

Scott Baker
Mortgage Lending Officer
919.684.6704

100% Financing

Think it's time to buy a house?

At DUFCU we know that coming up with a down payment to buy a home can be an impossibly daunting task leaving many people to believe that they cannot afford to buy. The truth is, in many cases, you can.

Introducing our 100% financing program HomeExpress options. HomeExpress is perfect for first-time homebuyers, seasoned buyers, vacation home purchase, or refinancing your existing home.

Here are a few details:

• No PMI Required - saving you hundreds of dollars in your monthly payment.
• 100% Financing*
  • 80% in a first mortgage loan with a low 5/1 adjustable rate term**
  • 20% in a Fixed Rate Closed End Second Mortgage Loan

• Closing costs:
  • You are responsible for closing costs on the first mortgage
  • DUFCU will cover the closing costs and fees on your second mortgage
    
• And, you may be able to finance the closing costs and fees.

Purchase or refinance today. Need to find out what your current home is worth? Try our home value calculator.

To see if you qualify for HomeExpress, call Scott Baker at 919.684.2066. Apply Online. Want a review of your credit report before you buy? Get help from Balance.

*Subject to credit approval.
**5/1 ARM features an interest rate that remains fixed for the first 5 years and may adjust every 1 year thereafter.

10 Steps to Home Ownership

Buying a home can be an overwhelming experience. We have gathered 10 steps to make the process as smooth as possible.

1. Gather the facts - Take a look at all of the factors that go into buying a new home. Are you ready? Do you have the financial backing? Research the neighborhoods you are interested in living in and investigate the schools and cost of living to determine which is right for you and your family.

2. Find a lender - Calculate how much money you are eligible to borrow in order to purchase your home. You can also discuss credit and other loan matters that you have questions about with your lender. DUFCU has the mortgage options at great rates to fit your needs.

3. Get pre-approved - Once you are between 60 and 90 days of actively house hunting and purchasing a home, you should consider going through the pre-approval process. A pre-approval will be able to tell you exactly how much house you can afford. It can also give buying power with the seller to any bids you may make. And then you can search accordingly.

4. Search for a house - You may choose to use a realtor or not, it is your own personal choice. If you choose to use a realtor, they will help you negotiate prices and assist you through the whole process.

5. Make an offer - Once you have found a house, you need to make a written offer. From there, the negotiations begin.

6. Apply for a loan - Once you have found your home, and your offer has been accepted, it is time to fill out your loan application. At this time you will find out an estimate of costs needed for closing and for the down payment. Take this time to ask any questions that you have. On average the loan processing takes about 4 to 6 weeks. Stay in touch with your lender and make sure that your application is being processed accordingly.

7. Arrange for a home inspection - Inspections will disclose any defects in the property that could materially affect its safety, livability, or resale value. Do not wait too long to have your home inspected however, there will be a time limit in the contract designating when the inspection should be completed (usually between 7 to 14 days).

8. Secure homeowners insurance - Unless you pay cash for your home, one of the requirements that will be made by your lender is proof of a valid homeowners insurance policy, secured before closing. This policy will protect both your investment as well as the ender's. Investigate your best deal here, as it is a long term expense.

9. The closing - Arrange for a closing agent or attorney. You are going to be required to sign a lot of documents; make sure you understand everything that you are signing, if you don't, ask questions! For any amount of money that you are paying, you will need a certified or cashier's check. At this time the owner will turn over the keys and give you any additional information needed about the house.

10. Hire a moving company - Make comparisons in price and reserve time now. Make a checklist of what you need and where you will put it to avoid stress later.

Enjoy! Maintain your home seasonally. Take pleasure in everything that comes along with owning your very own home! More articles on Home Buying.

Want a review of your credit report before you buy? Get help from Balance.

Lot Loans

You've just found the perfect lot on which you'd like to build your dream home. Lucky for you… DUFCU has the perfect loan at a competitive rate to fit this need. Find out more or apply today! Want a review of your credit report before you buy? Get help from Balance.