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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some basic information to help keep you on track.

The Basics

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Loan Officer, it should be an efficient, pleasant, and ultimately rewarding experience.

You Can Count on Your Real Estate Agent to:

  • Negotiate the best deal for you. With a Pre-Qualification letter from us in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's—even if your offer is lower!
  • Preview available homes to weed out those that are overpriced or undesirable in some way.
  • Present the homes that suit your needs as you've defined them.
  • Help you to determine the difference between a "good buy" and a property that, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.

You Can Count on Your Loan Officer to:

  • Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
  • Keep you informed of your loan status throughout the entire process.
  • Keep your Real Estate Agent informed of our loan progress (Note: Your personal information is always kept confidential between you and us; only deal points and progress are shared).
  • Get the appropriate loan for you at the best rates and fees. This will save you significant money up front and throughout the years to come.

Count on Yourself to:

  • Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.
  • Keep your Real Estate Agent informed of any questions or concerns as they develop.
  • Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.
  • Remain objective throughout the process in order to make the business decisions that are best for you.
Chartway Federal Credit Union
5700 Cleveland Street, Virginia Beach, VA  23462
Toll Free:  (800) 247-2255
aaanstatt@chartway.com
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