Know your credit score
The information contained in your credit report helps to determine your loan eligibility as well as the amount OCCU is willing to lend you for a home. Most loan programs require a minimum 620 credit score. We advise working with a loan officer to check your credit report to help understand where you stand and avoid multiple inquires.
If your credit report isn’t quite ready for homebuying, our loan officers can help make a plan to get you there and help recommend simple ways to improve your credit
Plan your budget
An OCCU loan officer will help you discover how much you'll be able to spend on a home, including what will make up your monthly payment and your debt-to-income ratio. Before you decide to spend the full amount, there are other factors to consider. To learn more about the unexpected costs, review the 10 Unexpected Costs of Owning a Home. You can start exploring what your monthly payments might look like with our mortgage calculators.
Gather your documents
You don’t need many documents for pre-qualification, but it’s good to get your paperwork in order ahead of time. When you find the right home, you may need to move fast and having your documents in order will help speed the process.
To be prepared, you should gather your documents into an organized folder early on. Find out which documents you'll need once you make an offer with our helpful checklist.
Apply for pre-qualification
Determine your buying power with a quick-prequalification. Now that you know a little more about the mortgage loan process, it's time to take your first step toward your new home! Fill out the one-page pre-qualification application below or send us a message to get started.Apply
Home equity line of credit or refinance?
With so many variables to consider, OCCU encourages you to talk with a Mortgage Loan Officer and let them know what you are hoping to do. OCCU will do its best to find the solution that meets your needs.
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