KaiPerm is Your Place for Mortgages and Refinancing

Shopping around for the perfect house is enough of a task. Who needs to worry about shopping for the best home loan? At KaiPerm, we have a large selection of loan products to choose from, which means we have the perfect mortgage loan that can be tailored to fit every budget. So, free yourself from stress and the uncertainties of dealing with an unknown mortgage broker. The best value is right here at your Credit Union. Give us a call today and discover all the benefits of a low interest, hassle free, credit union mortgage loan.

Step One - Check Your Credit Report

Purchasing a home requires more than just the desire to own a home – it requires a little hard work and preparation. First, go to Equifax.com and request a credit report. Make sure to review it closely for any incorrect information that needs to be cleaned up. Knowing about your credit before you apply for a loan could save you time and hassles later.

Step Two - Meet with One of Our Mortgage Loan Officers

Start your house search by setting an appointment with a credit union loan officer — an appointment with adequate, uninterrupted time for you to discuss your loan needs, have questions answered, and to start your initial paperwork for loan preapproval. This gives you several advantages. First, it lets you know exactly what you can afford before you shop for your new home. This will save you both time and money during your home search. Second, as a preapproved buyer, you're in a better bargaining position, and you are able to close the deal on your new home more quickly, saving time and money.

Contact Dale at (503) 813-3248 (dale@kaipermnw.org), Tina at (503) 813-3249 (tina@kaipermnw.org), or Gerry at (503) 813-3254 (gerry@kaipermnw.org) to schedule an appointment.

What To Bring With You To The Appointment

1. A copy of your credit report (if you requested one in Step One above).
2. Your current paystub(s) including your last two years tax returns or W2’s.
3. A list of your monthly installments or revolving debt.
4. Know how much money you have for a down payment and closing costs

4 Tips on How to Qualify for a Home Loan

1. Start a savings program.
   Paying yourself is as important as paying bills. Recommended is at least 10 percent of monthly take-home pay.
2. Lower your debt.
   Work on paying off debts before you apply for your loan. Or, consolidate high-interest debt with a lower cost loan. As a guideline, underwriters like to see your debt ratio around 28-36 percent. Here’s an easy way to calculate your debt ratio: Add up your monthly payments and divide the total by your gross monthly income.
3. Maintain good credit.
   Good credit is essential when applying for a mortgage loan. Here are some ideas to assure a good credit rating:
   1. If you haven’t established credit, do so.
   2. Make payments on time.
   3. Periodically review your credit report.
   4. Minimize returned checks on your personal checking account.
4. Learn as much as you can about the various financing packages available.
   There are about as many financing options out there as there are homes. Learn all you can about them. Talk with a real estate loan specialist at KaiPerm NW FCU.