CLOSED FOR VETERAN’S DAY
All Georgia Heritage FCU Branches and Call Center will be closed on Monday, November 11th for Veteran’s Day and will reopen Tuesday, November 12th.
GHFCU IS NOW OFFERING EARLY PAY!
Early Pay makes ACH direct deposit funds available up to two days early! This service is free of charge for our members, sign-up is not required but you must have direct deposit set up. Early posting is not guaranteed, we can only post early if the file is received from the other institution.
We wish everyone a safe and Happy Thanksgiving!
We will be closed for Thanksgiving on Thursday, November 28th and Friday, November, 29th.
Happy Holidays!
We will be closing at 1:00pm on Tuesday, December 24th and we will be closed on Wednesday, December 25th for Christmas.
We hope everyone has a safe New Year!
We will be closing at 1:00pm on Tuesday, December 31st and we will be closed on Wednesday, January 1st for New Years!
Routing Number: 261271694
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Steps to Take Before Obtaining a Home Loan in Georgia

Apr 6, 2018

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Steps to Take Before Obtaining a Home Loan in Georgia

Buying a home can be an overwhelming process. There are many steps involved, and if you have never purchased a home before, just the idea of financing can seem downright intimidating. But it doesn’t have to be! Before obtaining a home loan in Georgia, consider these essential steps.

Is it the right fit?

Before starting any paperwork, think about what kind of property you’re looking for. Do you plan to start a family in the future, or do you have a large family now? This will determine what size house you want and what is going to be the right fit for you. If you are single or married and don’t plan on having children, a smaller living space may be more comfortable for you.

Is it the right area?

Potential home buyers also need to think of their long-term investment in buying a home. Consider the rest of the neighborhood. Does it look well maintained or run down? If you have children, are there schools nearby? Are shopping areas close and convenient? Is it safe? These questions are just as important as questions about the home itself.

Once you have a clear idea of what kind of property you’re looking for, it is essential to take these financial steps before obtaining a home loan.

  • Check your credit. This is one of the easiest, but most important steps to prepare yourself in buying a home. Be sure to clear accounts with derogatory marks or dispute mistakes that can potentially lower your score. You can view your credit history from all three major credit bureaus for free at annualcreditreport.com.
  • Save early for a down payment on a home. In recent years, the housing market has become more flexible, allowing home buyers to put little to almost nothing down for a down payment on a house. Be aware, this does not come without risk. A lower down payment can mean a higher mortgage payment or paying more interest over the term of a loan. Finance experts recommend saving 20% of the housing price as a down payment. It may seem like a lot but saving things like work bonuses or tax refunds can help alleviate the stress of not being able to save quickly enough.
  • Research Georgia housing assistance programs. The state of Georgia offers several state assistance programs for homebuyers. The Georgia Dream Homeownership Program offers low interest financing, down payment assistance, and homebuyer education. USDA Rural Development, VA Loan Programs, Habitat for Humanity, and FHA Mortgages are also all viable options.

Home financing doesn’t have to be a frustrating process. Georgia Heritage Federal Credit Union is a not for profit organization, here to put your needs first. We offer home mortgage loans and home equity loans that will give you a peace of mind in your home buying process.

Let us help guide you to the home you always dreamed of without the headache. For more information about obtaining a home loan, contact us today!

Georgia Heritage Federal Credit Union’s NMLS ID #446248

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Anyone who lives, works, worships, or attends school in Chatham, Effingham, or Bryan counties in Georgia and their immediate family members may gain membership to the Credit Union.

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