Skip to content

mortgage

How life events can change your housing needs.

Are you contemplating buying a home this year? Taking such a significant leap forward is a crucial milestone. Life-changing events such as marriage, divorce, job opportunities, or just the desire for a better lifestyle often spur this decision.

We’re aware that today’s economic climate and inflation worries may have you evaluating your living situation. Even with potential higher mortgage rates looming, don’t let uncertainty hold you back from jumping into the housing market.

Why? Because many compelling reasons still make 2023/24 a promising year for relocation.

So, if you’ve been mulling over a move, now might be the right time …

A happy couple discussing their mortgage closing costs

Understanding Mortgage Closing Costs

Closing costs are important fees that you should know about if you are considering applying for a mortgage. These fees vary depending on the lender and are usually 2% to 6% of the amount you are borrowing.

By understanding how closing costs work and which fees are typically included, you can save money by going through a lender that offers the lowest fees. The savings can be significant. 

What Are Closing Costs?

Closing costs are fees for various services that are part of the mortgage application process. They get their name because they are usually paid on the day of

happy couple in front of their home

Three Good Reasons to Refinance Your Mortgage

Saving more on your mortgage doesn’t need to be difficult. Backed by historically low rates and community-based member service, refinancing your home mortgage with TEG FCU has never been easier!

1. To take advantage of lower interest rates

Refinancing a home loan with a lower mortgage rate can help you reduce your monthly payments and pay less interest over the life of the loan. The traditional rule of thumb says to refinance if your rate is at least 2% below your current rate. You might also be able to qualify for a better rate if your credit score has improved. …

You are now leaving TEG Federal Credit Union

Modal called incorrectly.