Elevate Your Homebuying Power with an MCU Jumbo Loan

While mortgage pre-approval is not required to make an offer on a house, getting pre-approved is highly recommended if you are planning to buy.

Pre-approval gives you a better idea of the loan amount you can get, the fees associated with it, and allows you to better budget for your future home.

In addition, sellers and realtors will be much more likely to accept an offer from someone with pre-approval.

There are a lot of factors that go into determining mortgage rates. Most of these factors are outside of your control—for example, overall economic growth and the interest rates set by the Federal Reserve.

However, there are things you can do to ensure you’re getting the best rate you can on your mortgage:

• Focus on your credit score
• The higher your credit score, the more likely you’ll qualify for a lower mortgage rate.
• Save up for your down payment
• More money down will shrink your loan-to-value ratio, meaning you’ll likely qualify for better rates on a smaller mortgage.
• Find the type of mortgage that’s right for you
• Our MCU Lending Sales Specialists are always here to help.
• If you are a first-time home buyer, there may be programs to help make your mortgage more affordable. MCU can help with those too!.

There are a few ways to set up your mortgage payments:

1. Set up automatic payments through the MCU website or app
2. Make a payment by visiting your MCU branch
3. Send a check by mail each month