Home Loans in Gary, Indiana

Pre-Approval for US #1364 Federal Credit Union Mortgage Loan

Starting your homeownership journey in Gary with US Federal Credit Union ensures you get competitive rates and various mortgage options tailored for seasoned homeowners and first-time buyers. Our local loan officers provide a personalized experience combined with a simple application process.

Importance of Mortgage Loan Pre-Approval

Getting pre-approved for a mortgage helps you understand your budget and strengthens your offer to sellers, showing that you are ready to close on their timeline. Prequalification is an initial evaluation of your creditworthiness. It gives you an estimate of how much you can borrow before you start house hunting.

Types of Mortgages Offered

• Fixed rate and adjustable mortgage rates
• Loan terms ranging from 10 to 30 years

Prequalification Process

Prequalifying for a home loan with US Federal Credit Union provides clarity on what you can afford and prepares you for the loan application process. This step estimates your monthly principal and interest costs, helping you make informed decisions.

Steps for Prequalification

1. Gather necessary documentation. Typically, you'll need to provide proof of income, employment history, and credit information. Our team will guide you through the specific requirements.
2. Review your credit score to understand how lenders view you and correct any errors.
3. Calculate your debt-to-income ratio, aiming for 36% or lower.
4. Prepare your finances, including down payment and closing costs.
5. Compare rates from different lenders to find the best mortgage rate and fees.

Take the first step towards homeownership in Gary, IN. Call our Valparaiso office today to get prequalified for your home loan with US Federal Credit Union.

Christine, Elizabeth, and Valerie – U S FCU Mortgage Specialists
Valparaiso Office
334 W. US HWY 30
Valparaiso, IN 46385
219-548-4600

You're just a few steps away from owning your dream home!