We're here for first-time homebuyers.
Submit your application now and we'll be sure to answer the questions you see here plus any others you may have.
Common First-Time Homebuyer Questions
The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.
Home Loan Calculators
Use the calculators to help you estimate your monthly payments or determine how much home you can afford.
Benefits of UHCU Mortgage Loans
At United Heritage, we take the headache out of getting a home loan. With low rates and personalized service, we’re here to make financing your home as simple as possible.
- Get pre-qualified before you shop
- Competitive rates
- Quick, convenient, customized home loans based on your needs
- Assistance navigating the home-buying process
- First-time homebuyer assistance
We're here to help.
To speak to UHCU Insurance Services, LLC, give us a call at 512.435.4098
Monday-Friday: 8:00 AM - 6:00 PM
Saturday: 9:00 AM - 2:00 PM
Home Buying Advice & Insights
2020 has been an out of the ordinary year in many ways thus far, but there are plenty of opportunities to turn it into a year of good things. Summer and sunshine are upon us and despite the impact that COVID-19 has had on work, school and social life, everyone is doing their best to continue moving forward. This includes many people taking the exciting step to purchase a home. We may be halfway through 2020, but there's still plenty of time to make your goal of home ownership a reality and UHCU is ready to help you achieve that in the easiest way possible!Read More
With an average list price of $414,563 for a four-bedroom, two-bathroom house, Austin-area homes are the most expensive in the Lone Star State. Check out these money-saving tips to ensure you don't overstretch your budget when buying a home in Texas' capital city.Read More
If you're in the market for a new home, you're also in the market for a mortgage loan. And when it comes to loans of any type, it's key to work with a lender you trust. That's why it's important to understand how your interest rate is determined and the factors that affect your final rate. When shopping for mortgage loans, consider these five factors and how they might influence your rate.Read More
There are only a few weeks left before summer officially begins and if you’re planning on selling your home soon, you should consider devoting some time to small, inexpensive weekend projects that could really pay off. We’ve compiled a list of low-cost tweaks that might increase your home’s value and help your property sell faster. Even if you’re not planning to sell, these are great tips to give your house a fresh look.Read More
Austin is an amazing and fun city and there are a plethora of reasons to move here - great weather, the food scene and the booming job market are all reasons why people are flocking to Austin in record numbers. Before you pack your bags and load the truck with all of your worldly possessions, here are a few things that you need to know about relocating to beautiful Austin!Read More
Mortgages seemingly have their own language, and knowing what the terms mean can make a significant difference in how you understand your loan and the associated costs. Often, APR is confused with interest rates on loans and while they are similar, there are differences that can add up.
In the past, buying a home remotely was usually reserved for special cases such as vacation homes or because of a relocation. However, given our new norm of social distancing, buying a new home from the comfort of your living room is becoming increasingly more popular.Read More
Reducing your bill can lead to significant long term savings and we’ve got some ideas to help get that cash back into your pocket!
Purchasing a home for the first time is a major financial milestone. Along the way, you’re bound to have questions. How much money will I need to put down? How will my down payment affect my mortgage payments? All great questions and fortunately, there are many options and choices for every kind of homebuyer.Read More
A first-time homebuyer could easily overlook fees and expenses that come when purchasing a home. That’s why it’s important to learn about all of the costs you will have to budget for. Here are 4 costs to consider when buying a home.Read More
Buying a home is an exciting experience, but it can also be overwhelming. It will probably be the single largest purchase you ever make and it requires thoughtful planning. Therefore, all first-time homebuyers should take a few things into consideration before they head down the path of homeownership. Here are ten important steps to follow when purchasing a new house.Read More
The current housing market remains hot and despite the stiff competition for property, buying a second home is becoming more and more common. And it’s happening closer and closer to where buyers already live. There are several reasons why this is becoming more popular; whether it’s for a vacation getaway that is easy to access or for family use, there are some considerations that should be reviewed ahead of your exciting new purchase.
When you’re trying to decide on whether to rent, buy, or build, our loan specialists are great at helping you decide the right next step is in your housing journey. United Heritage Credit Union’s loan specialists are ready to help you determine what’s best for your financial situation. We’ve prepared a few tips and ideas for your consideration in the decision.Read More
Housing markets across Texas are booming and mortgage rates are lower than they’ve been in years, so there’s hefty competition in the buying market. Frequently homes have offers on them before ever being listed on the market. If you’re in the market to buy a new home, we’ve got some suggestions for how to make your offer stand out and be noticed!Read More
Current mortgage rates have been the lowest offered in decades and the housing market has been booming. While the current market has been considered a seller’s market due to the increased demand for housing, interest rates have also made the current market appealing for buyers. If you’ve considered buying, refinancing or using your home’s equity, now is great time to do so before rates rise.
When you’re looking to finance a home there are several things you need to consider, including the loan estimate, which is key in understanding the actual terms of the loan. The loan estimate can be a good tool when comparing lenders if you haven't already finalized your financing with your bank or credit union.Read More
Purchasing a new home can be as exciting as it is intimidating. In addition to the numerous loan options and payment structures, there are mortgage-related words and terms that might be new to some. But don’t fret. We’ve provided a guide to some of the most frequently used terms to help you along the way.Read More
Despite the global pandemic, the housing market across Texas has been hot, but mostly for sellers. Housing inventory remains low and often homes are being sold within days of being listed, and are selling for over asking price. If you are considering selling a home, now may be the best time to do so. Finding a new house may be the trickier part of the equation, however, so some people are opting to turn their current home into their dream home by using the equity in their home for renovations or remodel. Here are some things to consider before listing your home or choosing to stay in your current home and update it.Read More
When it comes to purchasing a new home, using the assistance of experienced UHCU Loan Specialists who know the process inside and out can help make the experience smooth and free of unnecessary stress. Here you’ll find a list of 6 tips and tactics for buying your home.Read More
With spring just around the corner, is there a best time of the year to refinance your mortgage? That’s a question that only you will know the answer to—after all, everyone’s needs are slightly different. However, for many, the spring is a perfect time to choose new options for mortgage refinancing.
Generally, Texas doesn’t get serious cold weather, but when we do, it’s usually a whopper of a storm. Being prepared for winter is easier than having to fix things when the weather is bad and thousands of other families in need of the same help. A bit of prep work can go a long way to making sure your home is ready for cooler temps and the possibility of a storm or two. Here are three ways to get your home ready for a visit from Jack Frost.Read More
In the last few years, homeowners have seen a wave of new technology designed to make our homes smarter, more efficient and easier to maintain. Now it is not at all uncommon to have a robot vacuum, video doorbells or an Alexa to power on lights, play music or send you reminders to pick up milk from the grocery store.
Buying a home is most likely the biggest financial transaction you may make in a lifetime and communication is key to limiting stress during the home loan process. While hiccups can happen in the home buying process, it’s important to have clear, open communication with your loan specialist to minimize the possibility of disruptions and to ensure that your expectations are met. Being prepared for potential items that may come up makes them much easier to handle and our well-trained staff is here to help you throughout the process.
When you start drilling down into the world of real estate mortgage loans, as you’ve no doubt already noticed, you’ll discover a new world of terms and acronyms that seem designed to confuse you! We’ll break down the differences and similarities between lenders and mortgage loan servicers, and provide some tips from experienced buyers to help you navigate the mortgage landscape.
You’ve made the big decision to buy a home and gone through the application process only to find out that you don’t qualify for the amount you wanted. Now what? You’ve got some options to consider, but you should always talk to your loan specialist to find out why you didn’t qualify for the amount you wanted. Once you know why, you can figure out the best way to approach the problem.Read More
When you’re interested in buying a home, one of the first things you should do is compare different types of real estate loans. At United Heritage Credit Union, you’ll have several options available – our loan specialists are standing by to help you choose the best loan for you.Read More
No matter where you apply for a home loan, the process always requires many similar documents and kinds of information from you, the borrower. Lenders may have their own unique forms and requirements in addition to the commonly asked-for information, of course. There are four specific items that are required nearly everywhere, and having these documents and information assembled before starting a loan application will make the process much smoother. Assemble this information into a packet ahead of time, and you’ll be ahead of the game! Here are a few tips on what to prepare:
When we think of going house hunting, we tend to picture sunny skies and spring time, not cold and dreary days. Don’t let that scare you, as there are actually several advantages to house hunting in the winter. Not to mention that house hunting season is starting early this year!Read More
Frequently Asked Questions
After the loan closing, how long will it be before funds are disbursed?
The timing of disbursed funds depends on the type of the loan. Purchase loans and non owner occupied refinances often fund the same day as closing, while primary residence refinances and home equity loans have a 3 day waiting period prior to disbursement.
How do I see what United Heritage’s rates are?
How long does the pre-qualification process take?
A pre-qualification can be completed in as little as an hour depending on the complexity of your situation.
I received a letter about insurance on my home. What do I need to do?
United Heritage requires collateralized loans maintain appropriate insurance coverage. Please contact us to review your loan. In most cases, you will need to provide the updated insurance on your property.
What are the advantages of a Home Equity Line of Credit (HELOC)?
Home equity line of credit, or HELOC, programs allow borrowers to access funds on established lines of credit as needed, facilitating the ability to better manage funds and minimize interest costs. The HELOC option also allows for flexible repayment options, which means more affordable payments for the home equity borrower. Home Equity Line of Credit, or HELOC, program draw period (or initial period) requires interest only payments on the amount advanced on the line reducing the minimum monthly payment and interest paid compared to interest on the full available line. Increased access to funds and repayment options, combined with the lower interest rates and potential tax savings associated with all home equity options, make the HELOC program an attractive option to borrowing for many Texas homeowners.
What should I do if my home has sustained damage?
If United Heritage is the mortgage servicer on your property, we are the named mortgagee on your insurance proceeds check. The interest that we hold in the property allows us to oversee the repairs and disburse the insurance funds accordingly. In most instances the funds will be disbursed to you in 1/3 increments to cover the cost of the repairs as they are completed.
For larger damage claims, a property inspection may be required to ensure proper and complete reconstruction of the property. The inspections are obtained for our purposes only. When you contact United Heritage, we will need to review the insurance company's damage assessment/claim documentation and a detailed estimate from the contractor to review the scope of the work. We will also need a copy of the check from the insurance company.
If your insurance check exceeds your current outstanding balance, you have the option to pay off the loan. Please submit your written request to pay off your loan along with the fully endorsed check to us. If you have any questions or concerns, give us a call at 512.435.4545, 903.597.7484 or 800.531.2328.
What special interest rates are available on a Home Equity loan?
Expect a competitive interest rate at United Heritage. Loans are computed using simple interest (members only pay interest on the daily unpaid balance). There is never a pre-payment penalty or an application fee.
What type of property qualifies as collateral on a Home Equity Loan?
Homestead properties, including single-family residences; townhouses; condos; and some owner-occupied, two-unit residences, qualify. Mobile or manufactured homes, unimproved properties or timeshares do not qualify as collateral.
When can I close on a loan?
Texas law mandates Home Equity/HELOC loans cannot close earlier than 12 days after the notice of extension of credit is provided. Loans that are not Home Equity/HELOC cannot close within 7 business days of receipt of the loan estimate. A closed end loan (Non HELOCs) can close 3 business days after the receipt of the Closing Disclosure.