Tips to Help You Find The Right Home
As those freezing temperatures start to warm up in some areas, so does the housing market. Spring not only means more fun outdoors, it’s also a great time to buy a home. Buying a home is exciting, but it’s also a major financial transaction, so it’s important to be prepared. With a little planning and research, you can build your homebuying knowledge and have more confidence that you’ll choose the right home at the right time.
Whether it’s a first home or next home, the Union Plus® Mortgage program, with financing provided by Wells Fargo Home Mortgage, provides union members, their parents and children access to a wide range of home loan options to meet a variety of needs, plus special benefits designed for union families. And, you can also find the homebuying tools and information you need every step of the way.
Location, Location, Location
This first step is to understand your needs:
- What areas of your city/county appeal to you?
- Do you want to live in a neighborhood, or is having land important to you?
- Do you want to be near schools, shopping, or public transportation?
- How close do you need to be to your job?
Make a Wish List
Before you start looking at houses, make a list of the home features that are most important to you.
- How many bedrooms and bathrooms do you need? Are you downsizing or planning for a growing family?
- Do you prefer the look of a two-story home, or do you want a one-story with everything all on one level?
- Would you like an older home with character in an established neighborhood, or are you drawn to the benefits of a newly constructed home?
- What kind of amenities and features would you like? How about a gourmet kitchen or a fireplace?
- What about the exterior: siding, brick, or stucco?
Most homebuyers need to make compromises, and it's helpful if you already know which items are "must-haves" and which are simply "nice-to-haves." You can download our Wish List (PDF)* to help you prioritize.
When you’re ready to start looking at homes, consider using a real estate agent. While it’s easy to search for homes online today, you’ll receive invaluable information and assistance by working with a licensed real estate agent.
Getting Prequalified
In addition to considering what you need and want in a home, it’s helpful to know how much you may be able to borrow to buy a home. A prequalification lets you estimate how much you may be able to borrow, but is not a commitment to lend so it doesn’t require a credit check or mortgage application.
If you have any questions about the homebuying process, loan options, or would like a free prequalification, contact a Wells Fargo Home Mortgage consultant today. If you are considering refinancing, Wells Fargo Home Mortgage has options for you too!
And remember, after closing on a loan through the Union Plus Mortgage program, you’ll be eligible for special benefits that include receiving a My Mortgage GiftSM award from Wells Fargo - $500 for buying a home or $300 for refinancing your home, for use at participating retailers – and access to mortgage assistance through Union Plus in times of hardship such as layoff, disability or strike.1,2 Keep in mind that parents and children of union members are also eligible for certain benefits.
Click here to learn more about the Union Plus Mortgage program, talk to a Union Plus Mortgage Specialist at 866-802-7307 or request a personal consultation.
1. Eligible individuals can receive the Wells Fargo My Mortgage GiftSM award approximately 6 weeks after closing on a new purchase or refinance loan secured by an eligible first mortgage or deed of trust with Wells Fargo Home Mortgage (“New Loan”), subject to qualification, approval and closing, when identifying themselves as eligible. The My Mortgage GiftSM award is not available with The Relocation Mortgage Program® or to any Wells Fargo team member. Only one My Mortgage Gift award is permitted per eligible New Loan. This award cannot be combined with any other award, discount or rebate, except for yourFirstMortgageSM. This award is void where prohibited, transferable, and subject to change or cancellation with no prior notice. Awards may constitute taxable income. Federal, state and local taxes, and any use of the award not otherwise specified in the Terms and Conditions (also provided at receipt of award) are the sole responsibility of the My Mortgage GiftSM recipient.
2. The Union Plus® Mortgage Assistance Program is provided and administered through the AFL-CIO Mutual Benefit Plan (“The Plan”), which is not affiliated with Wells Fargo Bank, N.A. Additional information about this program and eligibility criteria can be obtained at www.unionplus.org/assistance.
Wells Fargo Home Mortgage has a services agreement with Union Privilege in which Union Privilege receives a financial benefit for providing agreed upon services. You are encouraged to shop around to ensure you are receiving the services and loan terms that fit your home financing needs.
Union Plus® is a registered trademark of Union Privilege.
Information is accurate as of date of distribution. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.
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