{"id":2735,"date":"2020-01-01T14:28:02","date_gmt":"2020-01-01T21:28:02","guid":{"rendered":"https:\/\/www.dncu.com\/?p=2735"},"modified":"2024-07-03T16:15:52","modified_gmt":"2024-07-03T22:15:52","slug":"understanding-mortgage-loans-making-the-right-investment-for-your-family","status":"publish","type":"post","link":"https:\/\/www.dncu.com\/es\/blog\/understanding-mortgage-loans-making-the-right-investment-for-your-family\/","title":{"rendered":"Understanding Mortgage Loans – Making the Right Investment For Your Family"},"content":{"rendered":"

Del Norte Credit Union is dedicated and determined to help families and individuals around New Mexico find the right mortgage loan based on unbiased advice. Owning a home is an investment that gives you the freedom to express yourself and an opportunity to put down roots. But if you need to take out a home loan<\/a>, you need to understand the basics.<\/p>\n

Let our experts help you make your mortgage dreams a reality with one of our many options for mortgage financing in Espa\u00f1ola, Los Alamos, White Rock, Santa Fe and New Mexico. We proudly offer the following:<\/p>\n

New Home Loans<\/h2>\n

Buying a new home can certainly seem intimidating, but don\u2019t let fear of the unknown keep you from reaching your goal of home ownership. Our mortgage loan experts will guide you every step of the way. Let Del Norte Credit Union make your loan process straightforward and easy to understand.<\/p>\n

Refinancing Loans<\/h2>\n

The benefits of refinancing your mortgage can be a tremendous help to your family. By refinancing, you can lower your monthly payment and put more money back in your budget. Our experts will walk you through the process and determine if refinancing is the right option for you. Your home is an investment, so it’s important to get the most out of it.<\/p>\n

Home Improvement Loans<\/h2>\n

Is it time to make those home upgrades you\u2019ve been dreaming of? Perhaps you want to remodel that kitchen or bathroom, or maybe you are ready to make the jump to solar power. Regardless of the project, our home loan experts can match your needs with the right loan solution.<\/p>\n

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We have mortgage experts in your neighborhood<\/span>!<\/p>\n

New to home loans? When you want to buy a home in New Mexico, we have resources and tools to help you make the decision. Learn more here<\/a>.<\/p>\n

Buying your first home can be an intimidating and expensive process. Understanding all of the requirements is crucial, especially when it comes to mortgage loans and avoiding costly mistakes. We\u2019re here to help you better understand the process and feel confident when investing in your home.<\/p>\n

Solicita ahora<\/a><\/p>\n

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What Goes into Qualifying You for a Home Loan<\/h2>\n

Stable Home<\/h3>\n

Your employment and job history are important factors in showing your ability to repay the mortgage loan. Mortgage lenders will verify your employment status before moving forward with other parts of the process. If you\u2019re self-employed, additional paperwork regarding your business may be required. Generally, what lenders look for is stable work history.<\/p>\n

At DNCU, we\u2019ll lead you through these initial steps to ensure you\u2019re on track. If you have any questions or concerns while filling out the application online<\/a>, give us a call or visit our Santa Fe mortgage center<\/a> for help.<\/p>\n

Good Credit Score<\/h3>\n

Your credit score also determines your eligibility for a home loan. Maintaining a good credit score improves your eligibility for the most favorable mortgage rates. If you have a low or moderately low credit score that falls below what we require, we can suggest ways to help you improve your score.<\/p>\n

Downpayment<\/h3>\n

You\u2019re in a better position if you apply for a loan with a down payment in hand. One of the requirements that we look into when it comes to mortgage loans in the Santa Fe area is your LTV (loan-to-value) ratio. The more favorable the ratio, the more eligible you become.<\/p>\n

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What can I Afford?<\/h2>\n

All it takes to figure out how much house you can afford is some quick number crunching, and you\u2019re on your way. Factor in your income, existing debts, down payment and other purchase price and payments that make sense for your budget. If you\u2019re having trouble calculating how much you can afford, we\u2019re here to help! Get in contact with us<\/a> by calling or visiting our location.<\/p>\n

Why You Would Want a Refi Loan?<\/h2>\n

Refinancing provides you with the opportunity to take out a new loan and pay off your current mortgage. These loans are secured against your home, have lower rates, offer longer loan terms, and allow you to borrow more than you can with a personal loan. At Del Norte Credit Union, we offer varied home refinancing loan options right for your needs. Reasons to refinance:<\/p>\n