Breaking into the SoCal Home-Buying Market Bob and Maria are ready for their first home.   Home Sweet Home.   KEYS TO SUCCESS. Buying a home can be a very emotional decision. Taking a rational approach to home-buying is essential. Keep an open mind. Be prepared to be patient – it takes time. Understand the financials.  HOME OWNERSHIP HAS HIDDEN COSTS.  You’ll pay for your mortgage plus property taxes, insurance premiums, and any Home Owners Association (HOA) dues. Taxes and HOA vary – ask your real estate agent for details. Obtain an insurance premium estimate from your insurance agent.  DOWN PAYMENT REQUIRED.  You’ll need between 0% and 20% of the purchase price. Less than 20% usually requires private mortgage insurance (PMI). Click here for six ways to save for a down payment.  KNOW YOUR CREDIT.  Your credit history affects your loan. You’re entitled, by law, to a free credit report every 12 months from each credit bureau. Visit   HOMES FOR SALE.  Talk to a mortgage consultant to find out the price range of homes you can afford to buy. After you have your down payment saved, you can get pre-approved and lock in an interest rate. Then, you can work with your agent to make an offer.   RIGHT REAL ESTATE AGENT FOR YOU.  Selecting the right real estate agent can make all the difference from finding your dream home to explaining the home-buying experience to negotiating the best price. Click here for how to choose a real estate agent.    About Home Connections Program •	Home search Web site – •	Preferred partnership with First Team Real Estate. •	Commission rebate from participating agents.*   Orange County’s Credit Union  •	Expert Mortgage Consultants work with you to find the right loan.  •	Fixed- and Adjustable-rate home loans available.     (800) 506-6070   *Rebate payment is made by First Team Estate and is credited to your benefits at the close of the transaction. Purchase price must be greater than $200,000. Members receive 25% rebate if they sell AND purchase with an assigned First Team agent. In order to receive 25% rebate, the home sale and purchase transactions must take place within six months of each other. Members receive a 20% rebate if they sell or purchase a home with an assigned First Team agent. First Team Real Estate is not affiliated with Orange County’s Credit Union. Ask for details.   Membership in Orange County's Credit Union is required prior to obtaining a home loan, and is available to anyone who lives or works in Orange or Riverside Counties or the neighboring communities of Long Beach, Lakewood, Cerritos, or Signal Hill. Membership fee is $5. NMLSR #403462. Federally Insured by NCUA. Equal Housing Opportunity.       For marketing layout use only  Keys to Success Down Payment	Hidden Costs Know Your Credit	Homes for Sale Right Realtor