Email Robin Email
Financial
Sep 27, 2019

When Is The Best Time To Buy A New Home? 

Sponsored Content provided by Robin Davis - Director of Operations and Member Experience, Corning Credit Union (CCU)

This Insights article was contributed by Bill Scott, Corning Credit Union Mortgage Specialist.
 
Homebuying is an exciting — yet complicated — process. Sometimes it is driven by unforeseen life-changing events like job relocation or a disaster requiring immediacy in locating a new home. Other times, buyers have a little more time to plan due to things like empty nesting, marriage, or an expanding family. This can be both good and bad, as planning in advance is a little less stressful, but it does open a can of worms when it comes to making decisions on when to buy.

Typically, homebuying heats up around springtime, slows down closer to the beginning of the school year, and tapers off prior to the holidays. Depending on weather and the economy it is not uncommon to see homebuying volumes stay strong throughout most of the year.

Of course, there are many more elements that determine when the right time to buy a home is than time of year.

Financing
Financing is an essential element in buying a new home. Homebuyers should reach out to a financial institution prior to or shortly after meeting with a real estate agent to discuss the purchase of a new home. We encourage homebuyers to begin conversations with a financial institution prior to signing a purchase contract. Meeting with a financial institution to see what financing options are available, along with the loan terms the homebuyer qualifies for, should be the first step in a smooth home buying process.

Interest Rates
Interest rates are another important factor in purchasing a home. For example, interest rates can have an effect on the price of home individuals qualify for. The higher the interest rate, the larger the monthly payment will be. Financing the lowest amount possible for the shortest term at the lowest interest rate is always the best way to go.

Where to Start  
Corning Credit Union (CCU) has a team of knowledgeable and experienced Mortgage Originators ready to review each homebuyer’s needs. We take the time to understand the individual requirements of our members and offer suggestions on the products and services that best fit their circumstances and timelines.

CCU is actively engaged in the community, which allows us to know what is happening in the market. We have established relationships with local real estate professionals, real estate appraisers and attorneys. We actively participate with the City of Wilmington’s Home Ownership Program, the Chamber of Commerce, Rotary, and Wilmington Downtown, Inc. to stay on top of important local issues as well as what’s going on in the local marketplace.

Finding the best homebuying options for our members is our top priority. We fully review our members’ current financial situation to determine all available loan options as well as the most favorable financing terms. We also understand our members are more than a number on an application and we engage them on a personal level to ensure we are meeting their needs and setting them up for the best possible financial outcome.

CCU understands buying a new home is a very exciting time and welcomes the opportunity to help our members with this important milestone. Ready to get started? Click here.
 
Federally insured by NCUA. Membership eligibility required. Corning Credit Union is an Equal Housing Lender. Approval for financing subject to lending guidelines and credit qualifications.  

As a member-owned, not-for-profit, independent financial organization, Corning Credit Union exists solely to serve our members. This means that every dollar invested in CCU is returned back to our members through better rates and lower fees on our high-yield checking account, auto loans, mortgages, and more. For more information visit us at www.corningcu.org.

Ccu stronger 300x250 wbj 5 20
Ico insights

INSIGHTS

SPONSORS' CONTENT
Billcoleman lopw headshot

Humility, Decisions And Risk

Bill Coleman - Live Oak Private Wealth
Dave sweyer 300 x 300

Entering The World Of Rental Property Investments? Here Are Some Key Terms You Need To Know.

Dave Sweyer - Sweyer Property Management
Tidewaterinvestmentco merrettemoore headshot

Your Private Company Investment Portfolio: The Right Fit In The Right Program

Merrette Moore - Tidewater Investment Company

Trending News

After Sale Announcement, Area Officials Discuss PPD's Impact On Wilmington

Christina Haley O'Neal - Apr 19, 2021

In The Current Issue

Info Junkie: Cynthia Walsh

Cynthia Walsh, CEO of the Brunswick County Association of Realtors, shares her top tech and info picks....


Lewis Farms Continues The Berry Business

As many farmers in Southeastern North Carolina turned to tobacco, one local family remained true to its truck-farming roots....


Coping With Ongoing Appliance Shortage

An appliance shortage stemming from multiple factors, COVID-19 being the major one, has been going on for the better part of a year and does...

Book On Business

The 2021 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100