#1 Loss in Property Value
Even savvy home buyers can’t always predict what will happen to home prices. But you can take precautions, like contacting the city government to ask about future development plans in the area in which you want to buy.
#2 Maintenance Costs
Home maintenance costs are unavoidable. However, there are things you can do to mitigate and prepare for them. Buy a brand new home or one that has been well-maintained, and then regularly keep up with small problems to prevent them from becoming major repairs. Also, avoid buying a money pit by having a home inspection conducted before you buy.
#3 Being Unable To Afford Your Mortgage Payment
Many people wonder how they will afford their mortgages if they lose their jobs. To deal with potential job loss, experts recommend establishing emergency funds consisting of three to six months of mortgage payments, as well as the expenses associated with home ownership, like water and electric bills.
#4 Tricky Mortgages
If you feel unprepared to manage a mortgage, there’s a simple remedy to this problem. Start educating yourself about how mortgages work through the numerous books, articles and classes available on the subject. Then, if you’re still uncertain, speak with a knowledgeable NASA FCU Mortgage Loan Specialist. He or she will be happy to answer any questions you may have, while acting as your trusted advisor every step of the way.
To arrange for an appointment, stop by any Mortgage Kiosk or branch, call 1-888-NASA-FCU (627-2328), ext.207, or visit make an appointment online today.