Making the move from renter is a major life milestone.
Matt McRoberts, Mortgage Sales Manager at Mountain America Credit Union, shares advice to make the transition smoother.
He says ideally you should start the process well in advance — it's not something you want to rush.
First, identify what you want out of your home. Is there a particular area you want to live in? Do you want a downtown or suburban lifestyle? How many rooms or square feet do you need? What are your must-have features and what are the nice-to-haves?
Then, Matt recommends having an initial call with a mortgage loan offer to help you wrap your head around what owning a home really looks like financially.
That mortgage officer can help you understand many different mortgage options, including loan programs specifically for first-time homebuyers that might be attractive to you.
The next thing to do is determine how much house you can really afford.
You can find mortgage calculators online, including at macu.com, to see what your principal and interest payment would be based on purchase price and interest rate.
Remember there are other costs to consider, such as homeowners insurance, property taxes and potentially mortgage insurance depending on the loan.
Look at that overall loan payment and ask yourself whether you will feel comfortable making it every month
Matt also recommends calculating the difference between what you're currently paying in rent and what your total mortgage payment would be.
Start saving that difference in a specific savings account every month.
If you can comfortably save this amount each month, you'll know if you can make the mortgage payment.
If you can't, you'll want to consider a more affordable home.
You should also get pre-approved before looking at homes to make sure you will qualify to purchase a home before putting in an offer.
You can visit a Mountain America branch or go to macu.com to schedule an appointment with a mortgage expert who will guide you throughout the homebuying process, even if you're just starting to think about buying.
There's also a free webinar for first-time homebuyers on June 18, 2025 in the afternoon and evening.
One of our Mountain America's lending experts will explain everything you'll need to know to get started. Visit macu.com/webinar to sign up.
If you do find a home you're interested in buying, Mountain America is offering a free appraisal for loan applications before July 31, 2025. Mortgage experts would be happy to talk to you about that, as well.
Loans on approved credit
Equal Housing Lender
NMLS ID 462815
Membership required—based on eligibility
Free appraisal on new purchases and construction loans only. Not available on refinance loans. Cannot be combined with other offers. Limit one per household. Offer valid on applications received between 3/1/25 and 7/31/25 for loans that close no later than 8/31/25. Limited-time offer. Offer can change or be withdrawn at any time
