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Ready to buy or refinance your home?
DNCU is here to help you succeed with Competitive Rates.
We live, work and play in New Mexico. Rely upon your neighbors at DNCU for sound home buying advice and local expertise including application processing and underwriting.
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Buying a home
Congratulations on your decision to buy a new home! There are many important things to consider throughout the process. Learn about buying a home with DNCU.
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Home equity loans and lines of credit
Tap into your home’s equity to secure financing to cover a variety of financial goals; home improvement, college expenses debt consolidation and more.
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Refinancing a mortgage
Refinancing can potentially lower your monthly mortgage payment, reduce your interest rate or pay off your mortgage faster. Learn more about DNCU mortgage refinancing.
The Dos and Don'ts During the Home Loan Process
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Do the Following
- Get preapproved
- Establish a budget and start saving for your home
- Stay current on all your existing bills: rent, credit cards, car payment and other accounts
- Keep your credit card balances as low as possible; 30-40% of your available limit is recommended
- Gather all of the documentation your loan or processor requests as soon as possible, your loan officer will give you a checklist
- Remain with your current employer at the same level of income, promotions and raises are fine!
- Make sure you let us know about any changes in your or big life events like marriage
- Liquidate assets that are being used for the down payment, retirement accounts can take time to liquidate, so it may be a good idea to get started as soon as possible
- Get your gift funds deposited into your account as soon as possible, our will provide you with a gift letter and instruction on what is needed for the gift
- Start shopping for homeowner’s insurance, we will need a copy of your policy at least two weeks prior to closing
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DON'T do the Following
- Don’t make major purchases (cars, furniture, appliances, campers, boats, etc.)
- Don’t open new credit cards, transfer balances or set up any deferred payment plans
- Don’t pay on collections or charge offs unless you are advised to do so by your lender
- Don’t close accounts, consolidate or increase debt
- Don’t overdraw your accounts (avoid NSF fees)
- Don’t change jobs or companies prior to your closing date
- Don’t give notice to your landlord until your loan is approved to close
- Don’t schedule moving trucks or cleaning crews until you have received a Closing Disclosure and the closing has been scheduled
- Don’t plan or go on a vacation without notifying us
Get started today
DNCU offers free consultations with local and experienced mortgage officers.
— Linda M., DNCU Member for 18 yearsI’ve been a member for 18 years and just finished paying off my mortgage! I was so happy that I wanted to celebrate with everyone at DNCU when I dropped off my last payment! Thank you for everything you do!
Join us
(877) 818-3628 toll-free.
