Homebuying 101: The Road Home

Your Journey to Homeownership Starts Here

Join Great Erie Federal Credit Union for a free, friendly workshop designed to give you clarity, confidence, and a clear path forward.

Buying your first home can feel overwhelming. Confusing terms. Endless paperwork. Fear of making a mistake. You’re not alone — and you’re not supposed to have it all figured out.

The Homebuying 101 workshop is provided for educational purposes only and is intended to help participants better understand the homebuying process. This presentation does not constitute financial, legal, or real estate advice, nor does participation guarantee loan approval or eligibility. All mortgage loan applications are subject to credit approval and program requirements. Great Erie Federal Credit Union membership eligibility is required for mortgage services. For more information about membership, please visit www.greateriefcu.com or contact us directly. Great Erie Federal Credit Union is an Equal Housing Lender.

✅ What You’ll Learn:

Is homeownership right for you right now?
Discover if buying makes sense based on your goals, finances, and lifestyle.

Key steps to buying your first home
From pre-qualification to closing — get the roadmap, not the runaround.

This workshop is for...

First-time homebuyers feeling unsure where to start

Renters exploring the idea of buying

Young families looking for stability

Anyone who’s Googled “how to buy a house” and gotten overwhelmed

🎁 First-Time Homebuyer Checklist Guide

A friendly, visual guide to every step of the journey.

Think of this as your homebuying GPS — made for first-time buyers who want:

Clear steps, not industry speak
Credit union perks explained in plain English
A checklist to know what to do before you start house hunting
You’ll get this guide instantly when you register — and you can email us questions anytime.

Get Your First-Time Homebuyer Checklist Guide

Homebuying 101 Checklist Form

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Meet Your Mortgage Matchmaker

Suzanne Milton
Mortgage Loan Originator
Great Erie Federal Credit Union
Suzanne joined Great Erie in 2023 and brings over 11 years of experience in the banking and financial industry. She previously spent five years at Owners Choice Funding—our trusted mortgage partner—gaining valuable expertise that now benefits our members directly. Suzanne is dedicated to guiding borrowers through the homebuying process with knowledge, care, and personalized support.

"I am very thankful for the professionalism, kindness and trust I received from Suzanne and the Great Erie Mortgage department. It was greatly appreciated and helped me create my dream."
Sincere thanks - Barb M.

Fill out the form below and we will reach out to you, or contact Suzanne directly at 716.662.1311 ext. 127 or smilton@GreatErieFCU.com

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FAQs

WHAT ARE TODAY’S MORTGAGE RATES?

Rates can change daily and depend on several factors like your credit score, down payment, and loan amount. Once we review your full application, we’ll run your information through our pricing engine and provide personalized rate options tailored to you.

DO I NEED A PRE-APPROVAL BEFORE I START LOOKING AT HOMES?

Yes! Most real estate agents require a pre-approval letter before showing homes. It proves you’re a serious buyer and gives you a clear price range to work within—so you don’t fall in love with a home that’s out of reach.

HOW MUCH HOME CAN I AFFORD?

It depends on your income, credit, existing debt, and down payment. To get started, we’ll review your W-2 from the past year and your most recent paystubs to calculate a realistic budget and monthly payment you’ll be comfortable with.

WHAT CREDIT SCORE DO I NEED?

Generally, you’ll want a score of 640 or higher to qualify for most loan programs, including conventional and FHA. If your score is lower, don’t worry—we can guide you on steps to improve it and explore options that may still be available.

HOW MUCH DO I NEED FOR A DOWN PAYMENT?

For first-time homebuyers, down payments typically start at 3% of the home’s purchase price. Some programs may require more or less depending on your loan type, credit profile, and eligibility for down payment assistance.

CAN I QUALIFY FOR AN FHA (Federal Housing Administration) LOAN?

Possibly! FHA loans are government-backed mortgages designed to help first-time or moderate-income buyers with more flexible credit and lower down payment requirements. They can be a great option if you meet the criteria—our team will help you determine if FHA is right for you.

WHAT’S THE DIFFERENCE BETWEEN FHA AND CONVENTIONAL LOANS?

FHA loans are backed by the government and are generally easier to qualify for but come with upfront and monthly mortgage insurance (MI). Conventional loans are not government-backed and may have stricter credit and income requirements, but potentially lower long-term costs if you meet the qualifications.

HOW LONG DOES THE MORTGAGE PROCESS TAKE?

On average, 30 to 60 days from accepted offer to closing. The exact timing can vary based on your loan type, how quickly you provide documentation, and how long the title search and appraisal take. We’ll guide you every step of the way to keep things moving smoothly.

What drives Great Erie? Helping people.

For over 73+ years, Great Erie FCU has remained committed to one guiding principle: making life better for every one of our members. Our Homebuying 101 Workshop gives you the knowledge and confidence to take the next step toward homeownership — with trusted guidance, competitive rates, and exceptional member service.

What our members are saying

“I am very thankful for the professionalism, kindness and trust I received from Suzanne and the Great Erie Mortgage department. It was greatly appreciated and helped me create my dream.”
— Barb M.

“I just closed my third car loan with Great Erie. They always beat dealer rates, super easy and fast online application and funding. They made it effortless. Highly recommend.”
— Michelle S.B.

“Love it! Never had such a great experience with a bank or credit union. I have multiple loans and accounts with Great Erie FCU and they give amazing rates.”
— Scott B.

“I’ve been a member of Great Erie for a few years now and I highly recommend them. A+ for their customer service and quick wait time.”
— Kelsey E.

“We have been members for over twenty years. Great Erie continues to meet us with the excellent customer service we deserve.”
— Lisa T.

“This is a credit union where customer service still means something. Whatever my needs, they always have compassionate people available to assist.”
— Marshall C.