And Why Your Rate Matters More Than You Think
Buying a home is one of the biggest decisions you’ll ever make and one of the most exciting. If you’ve been waiting for the right time, this might be it. With Corazo’s exclusive member discounts on home loan rates, you’re in a stronger position to OWN IT and step confidently into homeownership.
But before you apply, it helps to understand the home loan process and why securing the right rate can make a major difference over the life of your mortgage.
1. Start With a Clear Picture of Your Budget
Before filling out an application, know what you can comfortably afford. Your income, monthly expenses, and credit score all factor into how much home you can pursue.
To make that step simple, our Mortgage Center includes easy‑to‑use payment calculators designed to help you estimate monthly payments based on home price, loan term, and interest rate. These tools give you a realistic look at what your future mortgage could cost and how much you can save through Corazo’s exclusive member discount*.
2. Get Preapproved
A preapproval shows sellers you’re serious and gives you a clearer borrowing range. During this stage, you’ll typically submit:
- Recent pay stubs or proof of income
- Bank statements
- Tax returns
- Employment information
- Identification documents
At Corazo, our team helps make the process straightforward and stress‑free. Once preapproved, you’re ready to start shopping with confidence.
3. Why Your Interest Rate Matters—A Lot
Even a small difference in your Annual Percentage Rate (APR) can significantly impact your monthly payment and total cost over time.
For example, a 0.50% discount on your APR may seem small, but it can save you thousands over the life of a mortgage.*
Here’s why:
Your mortgage payment is recalculated every month for decades. A lower APR means less interest added to each payment and more money staying in your pocket.
That’s where Corazo’s exclusive member rate discount makes a real, measurable difference.
4. Apply With Confidence
Once you’re ready to move forward, your loan application is officially submitted for approval. At this point, we’ll verify your documents, review your credit, and lock in your rate. If approved, you’ll receive a breakdown of your loan terms and next steps.
With Corazo, you’re never navigating this alone. Our team is here to help you understand every part of the process, from application to closing day.
5. See How Much You Can Save
If you’re wondering whether now is the right time to buy, our payment calculator makes it easy to see the impact of our member‑exclusive discount. A little exploration goes a long way toward helping you plan your future.
Homeownership might be closer than you think and with Corazo, it’s more affordable than you expect.
Time to make your move. Time to OWN IT.
*Annual Percentage Rate. Corazo Credit Union is an Equal Housing Opportunity Lender. NMLS #793140. Must qualify for membership with Corazo Credit Union. Rate discount of 0.50% below market rate applies to Portfolio Home Loans only. The rates, loan programs, fees, options and guidelines in any loan scenario shown: (i) are for illustrative purposes only; (ii) are subject to change without notice; (iii) are subject to restrictions; (iv) will not apply to all members or situations; and (v) do not represent a commitment to lend. Applicants must meet all products and investor guidelines for program eligibility. Contact a Mortgage Loan Originator for details. Corazo Credit Union operates only in states where it is authorized to conduct business. Additional origination support services provided by Navigator Lending Solutions, a division of Land Home Financial Services, Inc. NMLS #1796.