Westoba Credit Union

Buying a Home

Shopping for a new home is exciting, but can get frustrating if you are not properly prepared. Here are a few things to think about before you head out house-hunting:

Get pre-approved – Before you fall in love with your dream house, pay us a visit. One of our Mortgage Specialists will walk you through the application process. With a pre-approved mortgage, you’ll know exactly what you can spend. And when you do find “the one” you can increase your chances of success by making an offer right away.

Just can’t stay away from those online listings? Our Mortgage Calculator will give you a rough idea of what you can afford while you wait for your appointment.

Choose the right loan for you – Open or closed? Fixed or variable? Long-term or short-term? Picking the right mortgage can be more stressful than choosing the right house. Our Mortgage Specialists can help you choose a loan that works for you.  The answer depends on external factors like current interest rate trends, the economy, as well as your lifestyle, income and risk tolerance. Are you comfortable with the uncertainty of a variable rate mortgage? Is there room in your budget for a hike in interest rates? Let’s talk!

Don’t forget to consider your future plans and prospects. A mortgage is a long-term commitment. Major life events– marriage, divorce, a baby or a career change – can affect your bottom line.

Don’t forget the extras – If you’re house shopping, you’ve probably been saving for a down payment. You’ll also need to set aside money for things like:

  • a home inspection
  • appraisals or land surveys, which may be required by your lender
  • property taxes
  • legal fees associated with the sale
  • land transfer taxes
  • any maintenance and repairs you want or need to make before moving in
  • mortgage insurance
  • house and fire insurance
  • moving costs
  • furniture and appliances


Make an informed decision by taking a look at the various options available to you.


We offer an open mortgage with a closed rate and lots of perks!