Buying a home is one of the biggest financial decisions you’ll ever make, and whether it’s your first home or your next chapter, the process can feel overwhelming without the right guidance. At Greater Kentucky Credit Union, we believe informed decisions lead to confident homeowners. Here’s a clear, practical look at what to consider before you begin your home-buying journey.
1. Understand What You Can Comfortably Afford
Before browsing listings, take time to understand your full financial picture. A comfortable mortgage payment should leave room for savings, daily expenses, and unexpected costs... not stretch your budget thin.
Consider:
- Your monthly income and existing debts
- How much you’ve saved for a down payment
- Ongoing costs like property taxes, insurance, and maintenance
A lender can help you understand your options, but the goal is finding a payment that fits your life, not just the maximum you qualify for.
2. Get Pre-Approved Early
Mortgage pre-approval is one of the smartest first steps you can take. It gives you a clear price range and shows sellers you’re a serious, prepared buyer.
Pre-approval helps you:
- Shop with confidence
- Move quickly in a competitive market
- Avoid surprises later in the process
At Greater Kentucky Credit Union, our mortgage team walks you through this step carefully and answers questions along the way — no pressure, no guesswork.
3. Know the Difference Between Loan Options
Not all mortgages are the same. Understanding the basics can help you choose what’s right for your goals.
Common options include:
- Fixed-rate mortgages for predictable monthly payments
- Adjustable-rate mortgages that may start lower but can change over time
- Conventional, FHA, VA, or other programs depending on eligibility
- Your credit union lender can help explain how each option works and which may best fit your situation, today and in the years ahead.
4. Plan for More Than the Purchase Price
Many buyers focus only on the price of the home, but there are additional costs to plan for, including:
- Closing costs
- Home inspections and appraisals
- Moving expenses
- Initial repairs or updates
Preparing for these expenses ahead of time helps make your transition into homeownership smoother and less stressful.
5. Choose a Lender Who Puts You First
Where you finance your home matters. A local, member-owned credit union offers something large lenders often don’t, personal guidance and long-term relationships.
When you work with Greater Kentucky Credit Union, you can expect:
- Clear communication and honest answers
- Competitive rates and local decision-making
- A team that takes time to understand your goals
We’re here not just to help you buy a home, but to support your financial well-being long after closing day.
Ready to Take the Next Step?
Whether you’re just starting to explore or ready to apply, our team is here to help you move forward with confidence.
Homeownership is a big step, you don’t have to take it alone.
Get started.
