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

4 Programs that Can Open the Door to Your First Home

By: American Heritage
06.20.19
If you dream of owning your own home, you’re not alone. Generations of homeowners have enjoyed the opportunity to put down roots in their community, build wealth, and experience the pride of having their own place. A mortgage is usually key to buying a house, but many people struggle to qualify for this essential loan. Fortunately, there are many federal and state programs designed to make homeownership possible for more people.
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5 Steps to Buying Your Dream First Home

By: American Heritage
04.25.19
To make your dreams a reality and bring your vision to life, it’s important to plan ahead. That’s why we’ve compiled the list of our top five steps for first-time home buyers, to help as you look to purchase a new home.
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Home Improvements: DIY or Pay a Pro?

By: American Heritage
04.18.19
Most people know, or can learn, how to do some basic home improvements and repairs. But unless you work as a contractor AND have tons of spare time, you probably will not be able to tackle every project yourself. The line between which renovations you can do and which you should pay a professional to do is different for different people, but here are some general guidelines – along with information about the best way to finance your next major home improvements.
Read Blog Post

What to Look for in a Real Estate Agent

By: American Heritage
04.03.19
Buying a home is a journey – and your real estate agent is your guide. Your agent’s knowledge, skills, and level of support will have a big impact on your homebuying experience, so it is important to have the right person by your side. So who is the best real estate agent for you?
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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