Bragg Mutual FCU
Bragg Mutual FCU

Financing Your New Home In 2020

If your New Year resolution is to buy a new home, there is a lot of good advice available to help you navigate the buying process.

Create a Solid Budget

It’s important to create a realistic picture of how much it will cost to own your house beyond your mortgage payments. Consider other factors like property taxes, insurance, utility costs, and ongoing maintenance costs as well as moving out costs and other home furnishing-related costs.

Understand your Mortgage Options

There are several mortgage options available to home buyers. Make sure you understand how different terms and rates will affect your monthly payment. By working with a qualified mortgage lender, you can find favorable loan programs that match your financial needs. Having your financing in order will help you set a reasonable budget and shows potential sellers that you are a serious buyer.

Live Like You Already Own It

Take some time to review your new home budget in its entirety, to see if you can actually handle the responsibility. Does it feel like it’s too much? Are you comfortable with the new costs? If not, how much would you ideally like to spend each month? You can also take time to evaluate your income to see if you can get additional sources of income or a salary raise.

Make Sure You Can Still Afford to Save

As much as you want to own a home, you want to ensure that you still can take care of other financial needs, like saving for your kids’ education, emergency fund, retirement, etc. while still paying your house payment. If not, you might want to reconsider.


Trust Bragg Mutual Federal Credit Union to provide competitive rates for mortgage loans*. For 2020, we’ll reduce your closing costs by $600. We are committed to giving sound financial guidance that will shape your home buying experience.

Apply online with us today at

*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan or deposit rates are subject to change without prior notice. The information posted here is a service to our members. Although BMFCU strives for information accuracy, we do not guarantee or warrant information posted here. 

This credit union is federally insured by the National Credit Union Administration 

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