(The Seventh is Through the Front Door)

Whether you're a first-time homebuyer or seasoned homeowner, purchasing a new place to live can be an exciting time. It can also be a little stressful.

The friendly experts at Visions can help take some of the pain out of the home-buying process with these simple steps.

In addition, Visions' mortgage process is designed with you in mind. Whether you're concerned with down payments or if it's your first time in the market, we have great mortgage rates and convenient solutions so you can focus on the "fun part" of house hunting and home buying.

  1. Clean up your credit. Credit is always king, but it takes center stage during the mortgage process. Paying down your credit card balances, consolidating your debts, and getting rid of any derogatory marks will get both your credit score and debt-to-income ratio in better standing. Need support with this step? We offer free credit counseling.
  2. Prequalify. Stop into one of Visions' convenient branches with 30 days of pay stubs, two years of W-2s or tax returns, and two months of bank statements. Prequalification is free for Visions members, helps you set a realistic price, and lets sellers know you're serious.
  3. Start shopping. You're ready – congratulations! It's a big decision, but a lot of fun to see how your dreams take shape.
  4. Apply for a loan. Call 800.242.2120, ext. 10470 to schedule an interview or apply online.
  5. Wait a little. Our mortgage processors will order a flood certification, an appraisal to determine the market value of the property, and a credit report. Upon approval, the mortgage department will issue a commitment letter agreeing to finance your home, which you should receive in seven to 10 business days after your mortgage file is processed. Review it with your attorney, sign it, and return it as soon as possible. Visions can help you clear up any outstanding issues in the letter.
  6. Close. The closing is the meeting where the credit union issues your mortgage, property ownership is transferred to you, and you get the keys. Visions prepares a closing checklist so you can work with your attorney to make sure nothing delays the process.

Mortgages Articles

  • Making Sense of Mortgages

    Making Sense of Mortgages Closing costs, PMI, ARM, escrow…figuring out what makes up your mortgage can be complicated. With so many factors to consider, how do you make sense of it all? Well, you can start by breaking down some of the most common terms and considerations you'll…

  • When Should You Consider an Adjustable Rate Mortgage?

    When Should You Consider an Adjustable Rate Mortgage? Looking for a lower-interest alternative to the traditional 15- or 30-year fixed rate mortgage? Consider an adjustable rate mortgage, like the popular 5/5 ARM, for any number of needs or situations. What's a 5/5 ARM? Well, th…

  • Mortgages and Your Credit

    When it comes to mortgages and your credit, there are a few main considerations. How Does My Credit Score Affect My Mortgage? It's no surprise that your credit score matters when buying a home and applying for a mortgage. The rule of thumb is if you have a higher credit score,…

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