For many people in Eugene and across Lane County, homeownership can feel increasingly out of reach. Higher interest rates, limited housing inventory and rising everyday costs leave many to feel buying a home is simply off the table. As OnPoint Community Credit Union’s Mortgage Loan Officer for our branches in the Eugene/Springfield area, I regularly talk with members who are unsure whether homeownership is still realistic.

While market conditions matter, the right time to buy a home is not only about interest rates. It is about being financially prepared and confident when the opportunity comes. Even if buying a home is still a future goal, there are steps you can take now to move closer to it.

Here are the steps I recommend to set yourself up for homeownership:

  1. Get clear on your monthly cash flow. Understanding where your money goes each month is the foundation of any home-buying plan. Start by separating needs from wants and using that distinction to guide your spending priorities. Tracking expenses can help identify spending patterns and ways to make adjustments. Small changes, such as cutting back on unused subscriptions or discretionary spending, can free up money to put toward savings without dramatically changing your lifestyle.
  1. Build savings consistently, even in small amounts. Saving does not need to be all or nothing. Automatic transfers to a savings account can make the process easier and more reliable. Whether you are setting aside $25 or $250 at a time, consistency matters. 
  1. Strengthen your credit profile. Credit plays a significant role in the home-buying process. Making on-time payments, keeping balances manageable and addressing existing debt can improve your financial readiness. For those still building credit or working through past challenges, starting early and staying consistent can make a big difference when the time is right to apply for a mortgage.
  1. Stay informed, but do not try to time the market perfectly. Interest rates and home prices fluctuate, making it difficult to predict the perfect time to buy. Instead of focusing solely on market timing, focus on understanding your options. Talking with financial advisors can help you determine whether waiting, preparing further or moving forward makes the most sense for you. Refinancing may also be an option in the future if rates change.

Homeownership in Eugene can feel intimidating, especially in a competitive market. But taking these steps now can help you build your knowledge and set you up for success when you find the perfect home. Starting now can help you feel more confident when the right opportunity comes along.

Sylvain Lacasse, Mortgage Loan Officer for Coburg/Santa Clara/Springfield branches, OnPoint Community Credit Union