Top Four Benefits of Homeownership! | Town & Country Credit Union

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Town & Country Credit Union

Town & Country Credit Union

Offices Closed Friday, July 3 and Saturday, July 4, 2020

Our offices will be closed on Friday, July 3 and Saturday, July 4, in observance of Independence Day. This will include all locations as well as our contact center. Additionally, incoming wires and checks deposited using mobile deposit capture on Friday will not be deposited into accounts until Monday, July 6.

COVID-19 Update

Our lobbies are now open, with the exception of our Fargo Sanford location which will remain temporarily closed due to visitor restrictions at the Sanford Broadway Medical Center.

We're asking you to join us in taking precautions to help keep all of us healthy:

  1. Use the hand sanitizer that's available near the entrance.
  2. Maintain a 6-foot distance whenever possible. Stickers have been installed on the floor for you to stand on while waiting in line.
  3. Plexiglass germ guards have been installed on our teller lines. Please stand behind them while conducting your business.
  4. Masks are allowed, but not required in our branches. If you do choose to wear a mask, we ask that you do not wear anything else that would obstruct the view of your face such as a baseball cap, sunglasses or a hood.
  5. Do not come in if you’re feeling sick. Give us a call or access your account online to conduct your business.
  6. If you need to meet with an account opener or loan officer, call us to make an appointment by calling 1-800-872-6358. When you get to the branch, wait in your car until your scheduled appointment time.

We’re looking forward to serving you in our branches, but also understand that some of you may prefer a no-contact method of conducting business. You can still open an account or apply for a loan online, access your accounts through TCCU Online and our mobile app, or give us a call to make a transfer, loan payment or more. 

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Top Four Benefits of Homeownership!

Man and Woman in front of house June is national homeownership month! A time to celebrate the accomplishment of owning your very own home and recognizing the professionals who help homebuyers make the American dream a reality. While homeownership comes with added responsibility and financial commitment, it also comes with some major benefits. If you’re on the fence regarding if homeownership is right for you, check out four ways that owning your own home can benefit you in the long run.

1. Investment & Equity

When you purchase your own home, you’re making an investment that will generally appreciate in value over time. This means when it comes time to sell, your house could be worth more than what you purchased it for allowing you to make a profit. The equity in your home is comprised of your down payment plus the portion of your monthly payments that are applied to the principle balance of your mortgage after you pay the loan’s interest. Your mortgage payments reduce the amount you owe while your home may be gaining value. By simply making a mortgage payment instead of a rent payment, you’re building equity in your home.

2. It’s Your Space

When you purchase your own home, you can customize it to your liking. Want a chalkboard wall for the kids to color on? Ready to knock down some walls to make it an open concept space? In need of a home office? Or maybe you want to build a bigger deck, install a pool or plant a few trees to fully enjoy the space outside your home. As a home owner, the possibilities are endless when it comes to making your house feel like a home as opposed to a temporary spot where you are limited to any customization. 

And we can’t forget about our furry friends! You can kick rental policies that restrict animals over a certain weight or monthly nonrefundable pet fees to the curb. At your own home, you can welcome as many animals as you like and if you’re lucky, they may find some friends to play with in the neighborhood.

3. Tax Incentives

We all pay taxes so it’s important to note that homeowners receive tax incentives that aren’t available to renters. When it’s time for you to file, consult your tax preparer as a portion of property taxes and mortgage interest paid out over the year could be tax deductible, allowing you to save money on your taxes! 

4. Building Community & Memories

Choosing where to build or buy is a big decision. Many buyers consider distance to schools, work, parks and conveniences along with road conditions, plans for construction and overall safety of the area. Like most homeowners, you’ll find the spot for you and your family that feels just right. In this spot, you’ll create relationships with your neighbors, host gatherings with friends and family, watch your kids take their first steps and hop on the school bus, spend hours on home improvements and lawn work all while taking pride in the place you chose to call home.

If you’re wondering if homeownership is right for you, set up a time to speak with a local mortgage lender. They’ll explain the journey to homeownership and the costs associated and help you decide if it’s the right time to leap from renting to owning.

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