Prepare Your Finances Before Buying Your First Home

Image of small wooden home with sign saying "First Home"Thinking about buying your first house? To make the preapproval process seamless, gather these financial documents:

  • Your credit report – Obtain a copy as early as possible and scour it for accuracy. If time permits, pull your credit report three months before you seek pre-approval so you have time to correct any issues or mistakes. Each major credit bureau must provide one free credit report annually to consumers requesting a copy. To obtain a report visit annualcreditreport.com. Usually, it works well to order one report every four months from a different credit bureau. But when your plan is to buy a house, check all three at once. Save up your “free” reports in the year until you’re ready to start looking for a house. Your goal is to identify discrepancies between the reports as well as to monitor your credit standing.
  • W-2 forms – Make copies from the past two years.
  • Paystubs – Copy your two most recent ones.
  • Financial account statements – Collect statements (including retirement accounts) from the past few months.
  • Lines of credit – If you have opened any in the past six months, you’ll need copies of those statements as well, since they might not show up on your credit report.
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Seven Ways College Students Waste Money

Going to college is expensive, no doubt about it. Between textbooks, tuition, housing, utilities, and maintaining a social life, managing your money can be challenging. So, here are a few habits to avoid if you want to save more of your money.

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membership eligibility…

Membership in Madison County Federal Credit Union is now easier than ever! If you live, work, attend school, worship, or volunteer in Madison County you meet our new eligibility requirements. Our new, less restrictive Field of Membership allows us to offer the benefits of credit union membership to all of our friends and neighbors in Madison County

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