As we near the end of spring, more Americans are becoming enthusiastic about buying a new home. First time homebuyers still have a few difficult hurdles to jump over in order to reach their goal of purchasing their dream home. A survey conducted earlier this year by NerdWallet found that 38% of respondents did not have enough saved for a down payment. Other factors impeding potential homebuyers include the COVID-19 pandemic and not having the ideal credit score.
Despite these setbacks, the dream of homeownership has not died. Credit union loan officers can sit down with members looking to buy their first family home and spend time to understand the members’ needs and guide them toward the American dream. The housing market is hot right now, making finding a home more difficult, but your credit union can help them navigate this sellers’ market by simplifying the mortgage loan process for them. Potential new homebuyers are faced with enough stress! Guide them through the mortgage roadmap and hand them the keys to success – and a new home.