A. First of all, congratulations on buying your first home. It is always an exciting time. We have good news for you. The amount of money you need to put down is ZERO!! At G.E.C.U., we offer a zero money down home loan program for first-time homebuyers and the same program those who have been a homeowner in the past. We can finance 100% of the purchase price, so all you will need is enough in your bank account to cover closing costs and prepaid escrow items. Another thing we always encourage buyers to consider is your right to negotiate with the seller to contribute up to 3% of the sales price towards closing costs. This is a common procedure and guarantees you will have no extra money coming out of your pocket. If you are interested in learning more about Mortgages at G.E.C.U., please call or stop in and ask to talk with any of the friendly loan staff.
A. That is a good question and one that really has no specific answer. Naturally we feel it is never too early to teach children about the importance of saving money for something they really want. That is why we created the G.E.C.U., Kids Klub. So far, it has been a fun and successful way to introduce children to the world of finances. Any boy or girl between the ages of 4 and 12 is eligible for the Kids Klub. We have found that around the time they turn 8 or 9 year old, the youngsters begin to drive the decision to deposit their money. It is usually when they tell their parents to deposit money they may have received as a gift or earned by allowance. If you are interested in learning more about the G.E.C.U. Kids Klub and all its perks and privileges talk to any of the G.E.C.U. staff next time you are in.
