Preparing for your next home purchase? Here are answers to your mortgage questions

Estimated read time: 7-8 minutes

This story is sponsored by Goldenwest Credit Union.

Both prospective buyers and sellers share a real estate ambition: to time the market properly. Regardless of circumstances, each one strives to make the most of any investment. For many, this involves searching for the right opportunity — a reason why one recent announcement sparked excitement across the country.

Last month, the Federal Reserve announced that it would cut its target federal funds interest rate by 0.25%. Additionally, the committee suggested that more reductions would be made during 2025's two remaining Federal Reserve meetings.

"What this has the potential to do is further open the market, especially for first-time buyers," said Tonya Froerer, senior vice president at Goldenwest Credit Union. "It positions a lot of individuals for valuable opportunities, which is why now is more important than ever to see what may be available, and talk with an expert about next steps."

As more individuals scour the market to accomplish their goals, curiosity rises about real estate resources. At Goldenwest Credit Union, members are looking into the financial institutions Free-Fi offering, as well as engaging in discussions with mortgage specialists.

Feeling like fall may be a time to take your next step to a new home? Here's what you should look into:

Free-Fi *

One quote from renowned real estate professional and author Ray Brown has proven repeatable over time — "the best time to buy a home is always five years ago." While market prices generally increase, the same principle doesn't always apply for financing.

Watching a rate reduction happen shortly after moving in can be gut-wrenching for any buyer. For this reason Goldenwest's Free-Fi program has received admiration from their members — an offering that provides borrowers with an opportunity to refinance at no cost up to three years after purchase.

"Our mission is to serve and empower our members and that starts by protecting their investments," Froerer said. "Changes are always on the horizon, and we strive to prepare borrowers for anything that may be ahead."

Available to those who purchase a home or refinance their current mortgage, Free-Fi can be utilized for members who make six payments and refinance by the deadline with no lender fees. Those looking to apply can do so through Goldenwest's website.

Preparing for your next home purchase? Here are answers to your mortgage questions — Photo: fizkes/Adobe Stock

Mortgage Experts After-Hours

In a world with conflicting information, few partnerships are more comforting than one formed with an expert. Earlier this year, Goldenwest Credit Union unveiled a program to bring their members a guide for their home financing needs: Mortgage Experts After-Hours.

Regardless of whether it's after 5 p.m., during a weekend or even a holiday, those who call 801-786-8400 are paired with a specialist on stand-by. Discussions with these professionals can range from answering questions to beginning applications, providing step-by-step support to anyone interested.

According to the credit union, the service reflects their "ongoing commitment" to serving members with convenience. An award-winning organization celebrating their 13th Best of State award, Goldenwest is capable of providing a variety of mortgage offerings, including:

Lot loans**

For some buyers, a home that fits their needs best is yet to be crafted. Borrowers regularly search through spaces to find where they can build their next residents, and find an area they can love.

Deciding the "where" for a lot can be a difficult task. As for the "how" though, members at Goldenwest Credit Union this year have turned to the organization for special rates.

"Purchasing the right land is an investment that can have a sizable payoff," Froerer said. "Our organization has been proud to keep rates as low as we have in today's market for our members. That said, we know that increases could be on the horizon. If building is something you're even considering doing, it's worth talking to an expert today."

Throughout 2025, Goldenwest has offered a one-year balloon lot loan special with rates as low as 5.55% and a three-year balloon improved lot loan starting at 6.49%. Each with a 30-year term and three-year call, a 20% downpayment is required to qualify.

Those looking to calculate their rate can do so on the credit union's site.

Conclusion

While the market may go through strong and weak periods, incentives and experts at institutions like Goldenwest Credit Union are available to help their members adjust with the times, and find a financially sound way to achieve their goals.

To schedule an appointment or expert today, visit gwcu.org.

* Terms of Purchase or Refinance Now Offer: Eligible for loan applications taken on or after May 13, 2024. Home loan must close within 90 days of application. Loan product must be Conventional loan sold secondary, GWCU 5/1 or 7/1 ARM, FHA, VA, or USDA. Subject Property must be owner-occupied. Offer not valid if subject property is vacant or unimproved land or if loan product is Construction or Reverse Mortgage.

Terms of Free-Fi Offer: Offer can be redeemed after six on-time payments have been made and before three years of note date. Free-Fi loan product must be a 15-to-30-year conventional loan (portfolio loans ineligible). Origination fee waiver is limited to 1% or $4000, whichever is less. Lender's affiliated title company services are required. Other lender fees may apply. Third-party

fees including but not limited to title, appraisal, credit recording, and other applicable charges, are to be paid by borrower. Subject property must be owner-occupied. Free-Fi offer not valid if borrower(s) payments go 30 days past due within the three-year period, borrower(s) account is closed, borrower(s) is a member not in good standing.

Offer subject to membership, eligibility, credit-worthiness, and other requirements at the sole discretion of Goldenwest Credit Union. Cannot be combined with other offers. Offer subject to change or expire without prior notice. Only one Free-Fi can be redeemed per member/borrower. Equal Housing Lender. NMLS #440574

** Rates and terms are accurate as of September 9, 2025 and are subject to change. Construction Rate is 6.125% Fixed with an Annual Percentage Rate (APR) as low as 7.826%. Rate example based on loan amount of $647,200, 680+ FICO, and 80% loan-to-value. Improved Building Lot Loan Rate is 6.49% with an APR of 6.790%. Rate example based on loan amount of $200,000, 680+ FICO, and 80% loan-to-value. Loan term is 30 year amortization with 3-year balloon payment. Lot Loan Rate is 5.55% with an APR of 5.895%. Rate example based on loan amount of $200,000, 680+ FICO, and 80% loan-to-value. Loan term is 30 year amortization with 1-year balloon payment. One-Time Close Construction long-term loan is a 30-Year 7/1 Adjustable Rate Mortgage (ARM). Stated rate is as low as 6.375%, Annual Percentage Rate (APR) 6.601%. Rate example based on loan amount of $647,200, 680+ FICO, and 80% loan-to-value. Rate for construction period of loan is 6.375% Fixed.

_Goldenwest Credit Union is an Equal Housing Lender NMLS #440574. More disclosures available at the link._