Help Getting Your First Home
Buying a home is a complicated process. MAFCU can help first-time home buyers navigate the steps by providing guidance and advice. We also have great low mortgage rates for qualified members (click here for latest rates).
One of the most helpful steps potential first-time home buyers can take is to get pre-qualified for a mortgage before finding a home so they know what they can realistically afford. The pre-qualification process lets home buyers find out about any potential issues to resolve early on so they can set up a plan of action which could include paying down debts or resolving credit issues.
First-time home buyers can learn more information about pre-qualification and other important steps by attending a MAFCU financial education seminar offered throughout the year, and opened to the public.
Ten-Hour, First-Time Home Buyers Program
MAFCU and Nuestra Comunidad Development Corporation cosponsor an extensive ten-hour, first-time home buyers program that addresses all aspects of the home buying process and even features guest speakers. Once participants complete all ten hours, they become eligible for down payment and closing cost help towards the purchase of a home in the City of Boston. There is a low fee of $30 for the course, and you don't need to be a MAFCU member to attend.
What You Need to Know About Financing and Refinancing a Home
The Credit Union and its mortgage partner Drew Mortgage offer free, one-hour, lunchtime seminars on the basics of home buying called "What You Need to Know About Financing and Refinancing a Home." This seminar is held on a regular basis and provides an overview of thow to finance or refinance a home. First-time home buyers and those who've already purchased a home will find the information timely and valuable.
For information about MAFCU's mortgage products, call Michael Shuman, Vice President of Lending, at 617-278-5615 or email mshuman@mafcucreditunion.org. For information about MAFCU's financial education programs, call Paula Kerwin at 617-278-5620 or email pkerwin@mafcucreditunion.org.
