Purchase the place you can call "home."

Committing to buying and owning a home is a major financial decision. Make sure you think through all aspects fully before taking the leap.
Apply for a Mortgage Pre-Approval

From choosing a real estate agent to managing closing costs, American Heritage offers everything you need for a smooth homebuying experience.

 

Determine how much house you can afford.

Evaluate your savings and income to determine how much you can designate for a down payment and what monthly mortgage payment you can realistically afford. It is also worthwhile to get pre-approved for a mortgage before you start house shopping. This will help you narrow down the price range you should be looking at.

What fits your budget?

Interest rates and terms of your mortgage will greatly affect your monthly payment. Our free calculator below can help you get a sense of what fits within your budget before getting pre-approved.

 

*These calculators are made available to you as informational and educational tools for your independent use and are not intended to provide financial or investment advice. These calculators are not offers, representations or warranties and do not describe any particular products or services. Results depend on many factors, including the information you provide and we do not guarantee their applicability or accuracy in regards to your individual circumstances.

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Choosing the right real-estate agent.

Wondering how to hire a real estate agent? Turn to American Heritage. Along with a great selection of competitive mortgages, our members have access to our full-service real estate firm, My CU Home Connection, and an experienced, dedicated team of local real estate agents.  

Let us guide you through the homebuying process, from helping you find the right home to placing an offer and settling quickly. Contact us today to learn more.

Know what you will be responsible for paying during the buying process.

As you move closer to your closing date, be prepared for the additional expenses that will pop up along the way. Oftentimes, some of these expenses are wrapped up in closing costs.

  • Appraisal fee
  • Survey fee
  • Underwriting and origination fees
  • Document prep fee
  • Discount points
  • Credit report fee
  • Title insurance
  • Recording fees

Down payment and loan options.

Saving for a down payment is a crucial part of buying a home. Many loan programs require as little as 3% down, and some first-time buyer programs offer even more flexible options to help you get into your new home sooner. Exploring different mortgage types can help you find one that fits your financial situation and long-term goals.

Home inspections.

A home inspection is an important step to ensure the property is in good condition before you finalize the purchase. A professional inspector will identify potential issues with the structure, systems, and appliances, giving you peace of mind and the chance to negotiate repairs if needed.

Escrow and Earnest Money.

When you make an offer on a home, you’ll typically provide earnest money—a deposit that shows you’re serious about buying. This money is held in escrow until closing and is applied toward your down payment or closing costs, helping secure the property while the sale is finalized.

Consider the costs of property taxes and homeowners insurance.

In addition to your monthly mortgage payment, you will be responsible for paying for taxes and insurance. And, if your home is part of a homeowner’s association, you will need to budget for those added monthly fees.

Estimate utility bills.

Take a look at what the average costs are for heating, cooling, and powering the home you intend to buy. You will also want to consider the age of the furnace, hot water heater, and HVAC system. It may be beneficial to upgrade older systems to more energy-efficient systems so that you can save more in the long run.

Consider the costs of commuting.

Will you be moving closer to or further away from your work? Depending on your answer, you will need to factor in how this change will impact your transportation expenses.

Prepare for anticipated repairs and replacements.

While the lifespan of home features and appliances may vary, you will want to consider how soon you may need to be prepared to pay for upgrades.

  • Roof: 20-30 years (depending on material)
  • Carpets: 8-10 years
  • Decks: 20 years
  • Oil furnace: 20 years
  • Gas furnace: 18 years
  • Electric furnace: 15 years
  • Central air conditioner: 15 years
  • Gas range: 15 years
  • Electric range: 13 years
  • Refrigerator: 13 years
  • Dryer: 13 years
  • Freezer: 11 years
  • Washing machine: 10 years
  • Dishwasher: 9 years

 

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Mortgage Pre-Approvals

Get a head start on your homebuying journey with a mortgage pre-approval.

Know exactly how much you can afford and show sellers you're a serious buyer.

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First-Time Homebuyer Programs

Buying your first home? Our First-Time Homebuyer Programs offer expert guidance, lower down payment options, and resources to help you every step of the way.

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Sign Up for Rate Alerts

Join our rate alerts email list to stay up-to-date on the latest mortgage rates delivered straight to your inbox and lock in the best rate when the time is right. 

Helpful Articles for (Aspiring) Homeowners

Should You Refinance Your Home? Consider These 4 Factors.

By: American Heritage
05.07.20
Right now, you’re probably looking for ways to boost your financial security, such as by lowering your bills or building up your savings. You’re not alone. Many homeowners are doing exactly that by refinancing their home to take advantage of today’s low mortgage rates. To see if refinancing is right for you, it’s important to understand why people choose to refinance and what makes someone a good candidate for a refinance mortgage.
Read Blog Post

Preparing for Your Next Home

By: Holly Benedetto
03.19.20
Buying and selling a home at the same time can make things complicated. Many variables must work together to create a seamless transaction and it takes a dedicated team to make this happen. You’ve identified your pain points with your current home and are ready to move on to the next phase of homeownership. Before you can buy, however, you have a home of your own to sell.
Read Blog Post

8 Things You Can Sell to Get Extra Cash (and Space)

By: American Heritage
12.19.19
Is your home feeling a little cluttered? Want to get through the holidays, or start the new year, with a little extra cash in your pocket? If there are unused or seldom-used items taking up space in your home, consider selling them. Whether you’re purging your attic, decluttering your whole house, or getting ready to move, periodically selling off old things helps you simplify your lifestyle while earning quick cash – sometimes more than you might expect.
Read Blog Post

Simplify Buying or Selling Your Home

Looking to buy or sell a home? My CU Home Connection links you with trusted real estate professionals, exclusive member savings, and expert guidance every step of the way.
Buy or Sell a Home with My CU Home Connection

Ready for your New Home?

American Heritage is a full service mortgage lender and offers expert services such as our own real-estate company, American Heritage Realty. Together, we can get you into your dream home.
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