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Navy Federal's Home Center Helps Educate First Time Home Buyers About the Home Buying Process


Tempe, AZ -- (SBWIRE) -- 08/20/2012 -- For most people, the home buying process often becomes costly and time-consuming. In addition to making monthly mortgage payments, buyers can be responsible for closing costs. Closing costs, as the name implies, are fees paid by the homebuyer at the end of the home buying process. While these fees can vary, most closing costs consist of appraisal, inspection, and credit check fees, as well as charges for the title transfer and property survey. These expenses, however, are not included in the listing price, so it can be difficult for potential buyers to receive an accurate estimate.

In order to cover the total costs of purchasing a home, many people borrow money from lenders. However, buyers sometimes don’t receive adequate information about closing costs and other hidden fees. Consequently, they are unaware of just how much their dream home will truly cost. With Navy Federal Credit Union’s online Home Center resources, however, potential buyers can better understand the home buying process, including closing costs.

Navy Federal’s Home Center can help clients find information about home inspections, real estate contracts, closing costs, and other aspects of the process. With our interactive calculators, clients can also crunch the numbers to see how much they can afford to pay on a monthly basis, their debt-to-income ratio, and help determine if they should apply for a fixed-rate or adjustable-rate loan. In addition, first time homebuyers can watch a step-by-step video on how to purchase a home. With these helpful resources, buyers are better prepared for the home buying process from start to finish.

Navy Federal Credit Union’s Home Center supplies a range of resources to meet the unique needs of our all of our members. The American dream of owning a home is possible with a full understanding of closing costs, and other aspects of the home buying process.

Find out more information about Navy Federal Credit Union and closing costs at homecenter.navyfederal.org.

About Navy Federal Credit Union
As one of the world's largest credit unions, Navy Federal Credit Union proudly serves all military personnel in the Army, Air Force, Navy, Marine Corps, DoD, and their families, is an Equal Housing Lender, and federally insured by the NCUA. For additional information about Navy Federal, loans, mortgages, low-rate credit cards or membership, visit http://www.navyfederal.org.