ConnectingU, Winter 14-15 Dec. 2014 | Page 5

UCU Home Loans Buying a home is a complex, sometimes lengthy process that can bring challenges to even a seasoned buyer. Before getting started, we encourage you to sit down with a UCU Loan Officer to see what you can afford as well as look at the loan options available to you! UCU can help you take control of the home buying process through one-on-one discussions with your loan officer, or through the assistance of an advocate through our Real Estate Services program. The real estate services program will help you find a realtor, and provide you with an advocate that can help you through every step of the process. Not only do you have the benefit of an advocate, but you may become eligible to receive a rebate up to 20% of the buyer’s broker commission! There are a number of parties involved in purchasing a home: buyer, seller, lender, title company, insurance companies and other lienholders. Each party has a different responsibility in the process, all equally important. Sometimes, things are uncovered about the property during the process that could not have been planned for. Certain mortgage programs require different things from the buyers as well as of the property. If the property doesn’t mee t the criteria, it either has to be fixed or a different program should be considered. UCU can help determine which program is best for you! UCU will also help you understand the true costs of homeownership. There are many formulas and calculators available online, however it is important to consider all the ancillary pieces of homeownership: insurances, property tax rate increases, unforseen expenses (leaky roofs, plumbing and electrical for example), yard maintenance, plowing. These small items can add up quickly. Buying a home is an exciting milestone that can be a great investment. We welcome you to discuss your home loan options with us today! University Credit Union is hosting a FIRST TIME HOME BUYER COURSE Where: UCU, 15 Main Street, Orono When: Saturday, January 31, 2015 9 am - 2 pm and February 7, 2015 9 am - 2 pm (course is two days) This course will make the attendee eligible for a certificate for $2,000 towards closing costs with the MSHA Advantage Program. Attendance at both is required for the certificate. • • • • • • Learn the steps involved in the process of buying a home Set goals and prepare for home-ownership Understand the effect of your credit in the purchase process Explore loan products Protect and grow your real estate investments Avoid being ripped off $30 per person, $50 per couple. Free for Veterans. Space is limited! Call Norma at KVCAP to register today at (800) 542-8227 ext 1637 or email at [email protected]. Share with your friends and family! You don’t have to be a UCU member to register! In the Portland area? Save the date for a first time homebuyer course in the Portland area on March 21st and March 28th!