What To Do Before Buying Your New Home

What To Do Before Buying Your New Home

To avoid unwanted surprises when buying a home, DFCU Financial Vice President of Mortgage Services Cheryl Nelson recommends taking a few very important steps.

Before you begin house hunting:

1. Be prepared.
Gather your documents and have them available for a quicker loan application process. You’ll be asked to verify your income by presenting W-2 forms, tax returns and employment records. Recent bank statements with checking and savings assets will also be needed.

2. Talk to a pro.
Review all the flexible mortgage options available with a qualified loan officer to help determine the right loan solution for your lifestyle and budget. DFCU Financial offers a free mortgage review with mortgage experts just for this purpose.

3. Know the score.
Understanding your credit score is important. (Your lender can help with this.) If you have no credit history, or past credit issues, take steps to build, improve and maintain good credit.

4. Get it in writing.
So now you’re prepared. You know your score and you’re ready to apply and get a pre-approval letter from your lender. This letter gives an estimate of how much you can borrow and demonstrates you're a serious home buyer to sellers.
After signing a purchase contract—but before closing:

1. Don't be tempted.
Resist the urge to take out new loans, make large cash purchases or open new credit cards. This type of financial activity could require your lender to resubmit your mortgage application to reassess your credit/loan qualification status.

2. Meet deadlines.
Provide loan documentation and information to your lender promptly. A missed deadline could be costly and result in a delayed closing or a resubmission of your mortgage application.


NCUA Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.


Unauthorized attempts to upload information and/or change information on this website is strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and Title 18 U.S.C. Sec.1001 and 1030.

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 888-336-2700 for assistance. Also, all products, services and information available on this website are also available at any of our physical branches, where we would be happy to assist you further. Click here to view our Accessibility Statement.

DFCU Financial - Copyright © 2021 - Dearborn, Michigan - All rights reserved

While the DFCU Financial Board of Directors intends to pay Cash Back every year, and has done so since 2007, Cash Back is not guaranteed and will depend on our financial performance and other factors. Annual Cash Back payments are limited to an aggregate of $25,000 for each tax-reported owner. The IRS requires that Cash Back for an IRA be paid to the same IRA account, and that it be open when Cash Back is deposited. Cash Back to Business Banking members is subject to additional terms. Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.