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Members 1st Credit Union

Our vision at Members 1st Credit Union is to be our members’ most trusted financial partner.

Members 1st Credit Union assists its members through a wide assortment of products and services to make sound financial decisions that lead to their improved financial well-being.

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Two Keys to Success When Buying a Home in a Seller’s Market

Have you made the decision to buy a new home? Or are you buying your very first home? You are probably excited and can’t wait to go house hunting. If the market is a “Buyers’ Market,” one in which supply (of available houses) exceeds demand, you will have plenty of time to get your financing in order and look at as many homes as you like.

On the other hand, if demand is high and supply is low, then you’re in a “Sellers’ Market.” In a sellers’ market, homes sell almost as soon as they become available. Buyers often have bidding wars with each other and end up offering the seller more than the seller asked for, in an attempt to outbid one another.

In a sellers’ market, when you find a home you love, you will need to act fast. Members 1st can help!

Sellers don’t want to wait for buyers who are still working on their financing. So, before you start looking at homes, reach out to a loan officer at Members 1st. We can help you with two important steps so you are ready to buy a home:

  1. Get preapproved for a mortgage with Members 1st – With a preapproved mortgage, you are showing the seller you’re immediately ready to close on your offer. Offers without a mortgage contingency tend to jump to the head of the line.
  2. Get your down payment information ready with Members 1st – With our help, you will be prepared with the necessary paperwork to show you have proof of funds.

By getting preapproved for your mortgage, you’ll know exactly how much house you can afford, and you’ll get a head start on most of the other buyers. Also, since you will know the maximum that you can afford, you will be able to save time by searching only for those houses in your price range.

You might also consider writing an offer letter to the seller, explaining a little about yourself and why you love the house. Keep it short and simple; strive to make a personal connection to the seller, but not bore them. Your realtor can send this letter to the seller and their realtor along with your formal purchase offer.

Let Members 1st help you begin your home-buying journey. Our loan officers are available at both the Mattis and Festus locations and look forward to talking with you about getting preapproved. They will calculate how much you can afford, find the best interest rate you qualify for and help you get to the front of the line in a sellers’ market.

Members 1st is YOUR credit union. Whether you are buying a home, shopping for a student loan or opening a new savings or checking account, we are here to help you with your financial plans. Call or stop by one of our offices today to find out how Members 1st can support you!

Toll-free: (877) 487-5628
Mattis office: (314) 487-5628
Festus office: (636) 931-7144