Start Saving for Your First Home with BHFCUWhile buying your first home may seem like a daunting financial undertaking, it can actually be one of the smartest financial decisions you make early on in life. For most people, buying a home is often an achievable and affordable milestone that just takes a little planning and patience.
Even if you don’t plan on buying a home for a few years, learning about your mortgage options and setting up a savings plan now, could save you money in the long run. Black Hills Federal Credit Union’s home loan experts have a few recommendations to help you get started on the path toward successful home ownership.
Set Up A Separate Savings Account
Open a secondary savings account specifically for your future home. With BHFCU, setting up a second savings account is easy and free. Or, consider one of our Money Market Accounts to earn higher dividends when you maintain a higher balance.
Put Your Savings On Auto Pilot
Saving money is a lot easier when you don’t have to think about it. Stop by, give us a call, or login to Online Banking to set up automatic withdrawals that pull money monthly, bi-monthly, or even weekly from your checking account and deposit it into your home savings account. You’ll be surprised how quickly it adds up.
Track your Savings with Online and Mobile Banking
BHFCU’s Online and Mobile Banking services are a convenient and dependable way to manage your money and stay on top of your home savings goals. Users can easily view account balances, access transaction history, make a transfer, and even deposit checks straight into your home savings account.
Before you begin saving for a down payment on a house, figure out how much you need to save and what type of financing options are available at BHFCU. We offer a variety of mortgage loans for first-time homeowners and a low down payment solution to give you more buying power. We encourage you to use our convenient mortgage calculators to get a better idea of what you’ll need to save, the approximate loan amount you’ll likely qualify for, and more.
Make sure you’re prepared for home ownership when the time comes. Our friendly, knowledgeable mortgage experts are here to help whenever you’re ready to start shopping for your dream home. Apply online or give us a call at 605-718-1818 or 1-800-482-2428.