- The Smart Options for Your Home Improvement Loan or Financing, At Visions we say that life is unscripted. If you own a home, it's very likely you know how true that statement is. It almost goes without saying that if you own a home, you have home improvements and repairs. Many joke that the list never ends. Whether you need to remodel a room, replace a roof, or tackle some small projects, it all has a cost. Sometimes that means looking at financing your home…, So, what is the best approach for you when it comes to your home improvement financing?, Like with many things relating to money, the right answer for financing your home improvements and projects depends on your circumstances. How you pay for your home improvements may differ depending on the project. Let's face it. Some projects are more simple and less expensive than others. You may want to approach smaller projects differently than bigger ones., Smaller Home Improvement Projects, For smaller projects, you may want to look into paying for your home improvements with a quality low interest credit card. It's a more straight-forward way to take care of smaller projects. In some cases, you may be able to take advantage of a very attractive interest rate, get your home improvements done, and have everything paid for in a relatively short amount of time. In the situation of…, Larger Home Improvement Projects, For larger projects, you should consider a home improvement loan. Maybe you have one or more major projects you just have to do. Maybe you'd rather remodel than move. Maybe you are just looking to build up value in your home with some great improvements. In these cases, consider a home improvement loan. These loans are designed for these circumstances and often have very attractive rates. For…, Consider Your Credit, As with anytime you are looking into financing, consider your credit. It's always a factor when looking to financing a purchase or project. Your credit will play a factor in what interest rate you will pay on your home improvement financing. Know where your credit stands, so you know options. When it comes to finances, you always want to make an informed decision based on your unique needs and…
- There are some things that go along with owning a home. Home improvements are near the top of this list. The range of home improvements runs from the very small cosmetic improvements to the major structural home improvements. You have to pay for all of them, whether small or large. Since there are all kinds of situations people are faced with, sometimes the situation calls for a home improvement…, Remodel vs Move, You like your house, and you like where you live. It's just that your house is missing some of the features you'd like. Perhaps the family is growing and you need some extra room. In these cases, a home improvement loan can provide everything you want or need without having to buy a new home., Improve Value of Your Home, Another reason people use a home improvement loan is to complete projects they know will increase the value of their home. There's a wide variety of projects that help boost the value of your home. This can make a huge difference when you're ready to sell your home., Emergency, Emergencies. We hate them. Yet, sometimes they happen. This includes emergency home improvements. Sometimes the roof springs a leak after a strong rain storm. Other times the heating and air conditioning system fails unexpectedly. Maybe someone has to give you the bad news you have incurred major structural damage to your home that needs immediate attention. In these cases, a home improvement…, Better Safe than Sorry, We'd all like to avoid emergency home repairs. As a homeowner, sometimes it's better to address a home improvement or repair before it becomes an emergency. Emergencies are stressful, costlier, and sometimes dangerous. To avoid these stressful hassles and keep everyone in the house safer, sometimes a home improvement loan for a project or needed repairs can be the way to go. It's important to…
- (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., 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 . , 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. , Start shopping., You're ready – congratulations! It's a big decision, but a lot of fun to see how your dreams take shape. , Apply for a loan., Call 800.242.2120 to schedule an interview or apply online. , 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…, 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. 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…, Useful Mortgage Resources:, Mortgage Rates – Browse mortgage rates for various mortgage products. Loan and Savings Calculators – Crunch the numbers. How much home can you afford? What should your down payment be? Mortgage Products - Browse mortgage products. Mortgage Application - Are you ready for the next step? Apply for a mortgage or prequalification .
- What Affects Mortgage Interest Rates When Buying a Home?, Once people decide they'd like to buy a home, they want to know what interest rate they can expect from a mortgage. After all, buying a home is an important decision and the interest rate is a big factor that determines what the payments will be. It's a good idea to understand what affects mortgage interest rates . That way you can do your best to secure the best interest rate for your home…, Useful Mortgage Resources:, Mortgage rates – Browse mortgage rates for various mortgage products. Loan and Savings Calculators – Crunch the numbers. How much home can you afford? What should your down payment be? Mortgage Products – Browse mortgage products. Mortgage Application – Are you ready for the next step? Apply for a mortgage or prequalification .
- Struggling to pay your mortgage? Help is available., If you are experiencing difficulty making your mortgage payments then we may be able to help you. There are many resources now available and all you have to do is ask. Please call call our Member Solutions team at 800.242.2120 ext. 10270 to discuss your situation., AVAILABLE OPTIONS, The right option for you depends on your individual circumstances. Based on the information you provide, we can determine if you qualify for temporary or long term relief foreclosure alternatives, including the solutions defined below that may allow you to stay in your home:, Financial Counseling, – In-house professional staff to assist you in reviewing spending patterns, developing budgets and exploring payment alternatives, Forbearance, – Make reduced mortgage payments or no mortgage payments for a specific period of time, Note Modification, – Receive modified terms on your mortgage to make it more affordable or manageable, Refinance, – Apply for a new loan and you may be able to lock in a lower interest rate and lower your monthly payment, CASE ESCALATION, If your mortgage loan is being reviewed for one of the foreclosure alternatives listed above and you have questions or concerns, or if you wish to have your case reviewed again, please call 800.242.2120 ext. 10615 to speak with Christopher Alfarano, VP/Chief Lending Officer. If he is unavailable, be sure to leave a detailed message and we will contact you in writing to acknowledge receipt of your…
- First-time buyer?, Excellent idea! Homeownership is an excellent long-term investment. Once you've decided that it's time to take the leap to homeownership, there are a few things to keep in mind. Review your existing debt load. What are your current monthly payments? Student loans, credit cards, and other debt can deter you from getting an approval due to a high debt-to-income ratio. If you can, pay off debt or…, It's essential that first-time homebuyers know what they can afford., Use your rent payment as a measuring stick, but don't forget you'll be responsible for unexpected expenses (e.g. repairs) that your landlord may be covering now. There are also budgeting tools you can utilize to determine affordability. If you're not sure how much you can afford and want to take your first step, stop into your local Visions branch for a pre-qualification. Next steps. Once you…, Ready to apply?, Apply now!
- Intro to Escrow, You may have heard the word "escrow" thrown around, but what does it actually mean?, Think of it like a budgeting tool built right into your mortgage payment. Like any loan , you'll see part of your monthly payment go to the principal and interest, but owning a home means that you need to plan for your taxes and insurance, too. Having an escrow account in place averages those annual costs and factors them into your monthly payment – no extra budgeting or savings to worry about on…
- One of the common questions people have regarding mortgages is whether a 15-year or 30-year mortgage is better? Like many financial decisions, the right answer depends on your personal financial circumstances, objectives, and concerns. What stage of life are you in right now? All of these can be factors in deciding between a 15- or 30-year mortgage. A 15-year mortgage can save you a lot of money…, Useful Mortgage Resources:, Mortgage rates – Browse mortgage rates for various mortgage products. Loan and Savings Calculators – Crunch the numbers. How much home can you afford? What should your down payment be? Use our calculators to explore your options. Mortgage Products - Browse mortgage products. Mortgage Application - Are you ready for the next step? Apply for a mortgage or prequalification .
- Buying a House? Consider These Handy Tips., You want to buy a house. Great! But there's a lot to buying a new home. It's a big change that affects your life in several ways. That said, you want to make buying your new home the best experience possible now and in the long run. To help you out we compiled a list of home buying and mortgage tips. Hopefully, this handy list will be helpful to you as you move forward with your new home purchase…, Useful Mortgage Resources:, Mortgage rates – Browse mortgage rates for various mortgage products. Loan and Savings Calculators, – Crunch the numbers. How much home can you afford? What should your down payment be? Mortgage Products - Browse mortgage products. Mortgage Application - Are you ready for the next step? Apply for a mortgage and prequalification .
- Credit Considerations for Homebuyers, Here are three common considerations about mortgages and your credit. If you have any other questions, please ask us. 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. Generally speaking, if you have a higher credit score, the more likely you will be approved for the loan and have a more attractive interest…, Useful Mortgage Resources:, Mortgage Rates – Browse mortgage rates for various mortgage products. Loan and Savings Calculators – Crunch the numbers. How much home can you afford? What should your down payment be? Mortgage Products - Browse mortgage products. Mortgage Application - Are you ready for the next step? Apply for a mortgage or prequalification .
