First Time Home Buyer Loans La Crosse

Living the American dream can be costly, especially if you are planning to buy a house in Wisconsin. Finding your next home can be a lot harder if you have a very limited budget.

If you are a first time home buyer, loans in La Crosse can be a great help for your purchase. However, when a first time home buyer loans in La Crosse, there are certain requirements they have to meet for the application to be granted.

Requirements to Qualify for First Time Home Buyer Loans in La Crosse

As the years go by, the market value of homes in La Crosse increases. If purchasing a house upfront seems impossible, search for banks that offer first time home buyer loans in La Crosse. For a first time home buyer, loans in La Crosse can help pay for the price of the house. In return, you will have to pay monthly.

However, if you are a first time home buyer, loans in La Crosse have requirements you need to meet. Qualifications may vary depending on the program that you will choose, but there are still factors that remain the same. These are some of the common requirements for first time home buyer loans in La Crosse.

High Credit Score Is Needed to Qualify for First Time Home Buyer Loans in La Crosse

When a first time home buyer loans in La Crosse, one of the things the lender will check is the credit score. For first time home buyer loans in La Crosse, the credit score is usually the basis of financial institutions for granting the application.

A credit score is important for any mortgage transaction, especially for a first time home buyer. Loans in La Crosse, like a conventional loan, can require a credit score as high as 600. However, other lenders may offer first time home buyer loans in La Crosse that require credit scores higher or less than 600.

A Down Payment Is Required to Qualify for First Time Home Buyer Loans in La Crosse 

If you are a first time home buyer, loans in La Crosse will require enough funds to cover your down payment and closing costs. When a first time home buyer loans in La Crosse, the amount of down payment can vary depending on the loan chosen.

For instance, first time home buyer loans in La Crosse, such as conventional home loans, require a down payment that is at least 3% of the home value. On the other hand, first time home buyer loans in La Crosse, like the Federal Housing and Administration (FHA) home loan, ask for 3.5% down payment while VA loans offer zero down payment for applications for first time home buyer loans in La Crosse.

You Should Have a Steady Income to Qualify for First Time Home Buyer Loans in La Crosse 

When a first time home buyer loans in La Crosse, lenders look at the debt-to-income ratio to see if the borrower is capable of paying the loan. This is a factor that lenders consider when deciding whether to grant first time home buyer loans in La Crosse.

If the lender thinks your income cannot support your monthly payment, they may deny your request for first time home buyer loans in La Crosse. However, first time home buyer loans in La Crosse can also offer you a longer mortgage term to lessen your monthly payment.

Apply for First Time Home Buyer Loans in La Crosse Today!

Purchase your dream home with the help of Governmental Employees Credit Union. We offer various types of home loans to support the needs of a first time home buyer. Loans in La Crosse that we provide include home mortgage loans, home equity loans, as well as land and lot loans.

Our local lenders can provide customized terms for your first time home buyer loans in La Crosse to suit your needs. Contact us today!

Making Everyone Count Since 1931

Credit unions are known as a great alternative to banks. These institutions offer accounts with lower fees and loan rates. They’re also owned by their customers, that’s why they offer better deals. If you want the idea of a customer-owned financial institution, joining a credit union might be the right choice for you.

Many credit unions offer a lot of benefits. However, not all of them are able to provide their customers with a great experience. If you want to make sure that you get great deals and satisfying customer service, join Governmental Employees Credit Union (G.E.C.U.). We offer great financial services while making sure that our customers feel valued. 

Open an Account With Us

Like any other bank, we also give our clients the privilege to open a bank account for their funds. Whether it’s a checking or savings account, G.E.C.U. makes sure to provide you the one that’s perfectly tailored to your lifestyle and needs. 

• Checking Accounts

At G.E.C.U., we don’t just provide great checking accounts. We also give you a lot of rewards with Kasasa Cash! You can choose between three options. 

The first option we have is the free Kasasa Cash Checking account with a high-interest reward. The second is a free Kasasa Cash Back Checking account with 2.25% cashback on purchases using your debit card. The third is the Free Kasasa Tunes Checking account, which gives you digital credits for apps and music purchases. Whichever you choose can be opened in minutes, too. Hassle-free, right? 

• Savings Accounts

Here, we offer you a lot of savings account options for you as well. 

• Basic Savings Account

This marks your membership with us. You’re only required to deposit a minimum of $5 to open your account.

• Elite Money Market Account

When you choose this account, the higher your balance is, the higher the interest rate you’ll get. You won’t get any maintenance fee if your balance is amounting to or more than $2,500.

• Health Savings Account (HSA)

With this account, you can prepare for medical expenses you might have in the future. You can also enjoy triple tax saving where you’ll have tax-free withdrawals for any medical expenses and earnings. 

• Certificates of Deposit (CDs)

Having trouble with saving money? This option is for you, then. Fixed-rate earnings for your term of choice. 

• Christmas Club

This type of savings account is created especially for your holiday funds. It also helps keep you away from having debts during the holidays.

• Individual Retirement Accounts (IRAs)

In this type of savings account, you’ll be able to secure your retirement and earn revenues at a higher rate.

Apply for a Visa Credit Card

At G.E.C.U., we help you expand your purchasing power by providing a globally-accepted credit card. We have competitive rates, low annual percentage rate (APR), and there are no annual fees! Apply with us now.

Pursue Your Dreams With Us

Everyone has the right to education. That’s why here in G.E.C.U., we offer a $500 scholarship to our members. The qualifications are simple; you just have to be a member and you must be already accepted or attending your school of choice.

Other than the two eligibility requirements, you should also submit three documents: your accomplished application form, a scholarship essay, and an autobiography that contains your school activities, awards, employment, and community service records. Apply now.

Secure Your Future With the Friendly Credit Union

Since 1931, we have been making every customer feel that they’re a part of the company; each of them is the partial owner of G.E.C.U. We assure you that we will continue making our customers feel that way. 

Our friendly and accommodating staff will strive to personally know you by name. As La Crosse’s friendly credit union, we enjoy doing business with our clients in the friendliest way that we can. If you want to be a part of the family and experience our customer service, talk to us now.