Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CUNA provides home-buying advice in IBankrate.comI
MADISON, Wis. (1/4/11)--A valuable tool for home buyers, especially first-time purchasers, is down-payment assistance, according to Susan Tiffany, director of consumer periodicals for the Credit Union National Association, whose advice was featured on two of Bankrate.com “6 must-do’s before buying a home.” Strapped-for-cash homebuyers can improve their chances by searching out down-payment assistance in addition to banking their own money, Tiffany said. Often this type of assistance is location-based or tagged to a type of buyer such as first timers. She recommended that buyers conduct an Internet search with the city name, county name, and word combinations like “down payment assistance,” “first-time home buyers” and homebuyers assistance.” A safe formula for home expenses is not to exceed 28 percent of gross monthly income, Tiffany said in another home-buying tip in the article. She said home buyers can improve their chances by “trying on” a rough estimate of their mortgage payment before they sign the papers. Tiffany recommended that home shoppers calculate the mortgage in their price range, along with expenses such as taxes, insurance and utilities, then bank the difference between that total and what they are currently paying for monthly home expenses.
Other Resources

RSS





print
News Now LiveWire
#creditunions celebrate #EarthDay2015 by being green aware with e-statements, hosting shred events, planting trees
14 hours ago
From @WSJ: 33% of companies say it took them more than 1 yr to discover a data breach. http://t.co/a0MxV68X6t http://t.co/lkglx6WvKs
18 hours ago
.@CAMCouncil taps into @MICreditUnions' career, tech training resources http://t.co/sotnfCUgIo
20 hours ago
#Inflation ticks up in March, still relatively flat #NewsNow #Market http://t.co/PyAvwdkJ4M
20 hours ago
#NewsNow Ill. league groups elect board, exec officers http://t.co/KAG8MtbGsv
20 hours ago