Education is Essential

Credit Tips for Mortgage Loans in Baton Rouge

At Essential Federal Credit Union, we pride ourselves on providing financial services to the capital area at the lowest possible cost. We’re especially committed to helping all our members pay for their dream homes with great mortgage programs in Baton Rouge. We’re more than your credit union, we’re your teammates. Because we want you to be successful, we’ve even included a few tips about improving your credit score, too!

Explore Easy Mortgages At Essential

There’s a home mortgage in Baton Rouge waiting for everyone at Essential. We know you work hard, so we work with you to get the home loans that work for you. We have a variety of mortgage loans available to choose from. Below are a few of our most popular programs:

  • Smart Saver Mortgage: Finance 100% of your new home with no down payment, and no PMI. This is a limited-time offer, so act fast! 
  • FHA Loans: Have your own home where you want it, without worrying about your income level.
  • Fannie Mae’s HomeReady Program: Buy your perfect home even if you have low-to-moderate-income with a fixed interest rate. 
  • Conventional Loans: Settle into your ultimate dream home with low-interest rates.
Essential’s Free Financial Resources

Essential isn’t your typical credit union. When you’re on our team, you have access to loads of financial support and resources. The first step to financial responsibility is knowing your budget. We have free financial calculators so you don’t have to guess anymore. Also, we have free financial education with our Balance Pro program. This program was specially designed for your self-empowerment. After all, it’s your money!

Tips For Raising Your Credit Score

With a new home is in your future, there are a few things you should know today to prepare—primarily your credit score. We hear about the importance of our credit scores so often, that they even seem to haunt us, especially if when we’re in debt. 

Credit scores are important for general financial well being, so it’s always a good idea to work toward a higher score. In fact, increasing your credit score is important for getting a low-interest rate. Here are four basic guidelines to get you started:

  1. Pay off all delinquencies: Your delinquencies will stay on your credit report for seven years. So the sooner you can clean up your debts, the sooner your report will be clear.
  2. Don’t add any debt: Pay the full amount of all your bills on time. Including credit cards, rent, utilities, student loans, etc.
  3. Track your credit utilization ratio: Also known as, the ratio of unused credit to used credit. When you keep this number low, you’re showing that you’re responsible with your credit.
  4. Don’t apply for new credit cards (unless absolutely necessary): These may create hard inquiries on your credit. Hard inquiries last on your credit report for two years. 
Join The Essential Family 

Become an essential member at Essential FCU! Contact us today to ask us about our home mortgage programs in Baton Rouge. You can get the home you’ve always dreamed of with help from Essential!