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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.

In General....

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Concierge Home Loan Specialists, it should be an efficient, pleasant, and ultimately rewarding experience.

Count On Your Real Estate Agent To:

  1. Assist you with defining what you are looking for in a home.
  2. Preview available homes to weed out those that are overpriced, or are undesirable in some other way.
  3. Present the homes that suit your needs as you've defined them.
  4. Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
  5. Negotiate the best deal for you. With an NGFCU Pre-Approval letter in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's -- even if your offer is lower!

Tip: Don’t have a real estate agent yet? Ask us if you're eligible to receive a 20% rebate on the real estate agent's commission* when you buy or sell a home.

Count On NGFCU, Your Concierge Home Loan Specialist  and Your Loan Processor To:

  1. Assist you with selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
  2. Keep you informed of your loan status throughout the entire process.
  3. Keep your Real Estate Agent informed of our loan progress (Note: your personal information is always kept confidential between you and us; only deal points and progress are shared).

Count On Yourself To:

  1. Keep your Real Estate Agent informed of any questions or concerns as they develop.
  2. Keep the process moving by providing documentation and decisions as soon as possible. By doing so, many of the details are taken care of early in the process.
  3. Enjoy purchasing your home, but it is wise to remain objective throughout. Keep in mind that a real estate purchase is a business deal until you move in and make a house your home.
  4. Make sure you are pre-approved as early as possible. This will put the power of NGFCU financing in your hands so you can concentrate on negotiating your purchase of a home.

* 20% commission rebate is determined by the action side commission paid to the Berkshire Hathaway HomeServices Broker at the close of escrow. If the Berkshire Hathaway HomeServices California Properties receives a commission, the NGFCU member will receive a 20% cash rebate off of the Broker’s gross commission. Not all states qualify. Ten states currently have laws that ban rebates. Nine states have a full ban on broker rebates: Alabama, Alaska, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. In addition, Iowa prohibits rebates when the consumers use the services of two or more real estate brokers during a transaction.

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