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What You Need to Know About Buying Your First Home and Why It’s Worth It with Purdue Federal

What You Need to Know About Buying Your First Home and Why It’s Worth It with Purdue Federal
Claire Kenney

Buying your first home can feel like a rollercoaster of emotions, from excitement to nervousness, and maybe even a little doubt. That’s completely normal and the good news is you don’t have to navigate the process alone. Purdue Federal Credit Union is here to guide and support first-time homebuyers every step of the way.

Many people stick with renting because it feels simpler and comfortable. But in reality, homeownership can be a better long-time move. Every monthly payment builds equity, which means you’re working toward owning something that’s truly yours. Rent, on the other hand, doesn’t build anything for you

“A home is really an investment,” says Rick Hite, mortgage sales manager at Purdue Federal. “At Purdue Federal, we’re focused on building relationships with our members and helping them be in the best financial position possible.”

One of the biggest obstacles to homebuying can be saving for a down payment. However, there are options for down-payment assistance.

“For example, the FHLBank Down-Payment Assistance program provides grants to first-time homebuyers to cover their down payment and closing costs,” said Hite. “The program includes free homebuyer education.

“Purdue Federal also offers 100% financing for first-time homebuyers,” said Hite. “This is a great option for homebuyers who can afford monthly payments, but don’t have the money saved for a down payment. Financing is available on a home purchase price up to $500,000 with $0 down. Plus, Purdue Federal retains servicing for the life of the loan so our members always work directly with us.”

Hite and his team of mortgage specialists are passionate about helping first-time homebuyers turn their dreams of homeownership into reality, with confidence and less stress.

Whether you have questions about down payments, loan options, or where to even begin, they are here to help. Visit www.purduefed.com/mortgage, stop by our Northwest Indiana branches in Crown Point or La Porte, or call 800.627.3328 for more information.