Real Estate Loans
Home ownership is the American dream; let RBCU help make it happen. Whether you are buying a new home, refinancing your current mortgage, or planning home improvements, RBCU is here to financially guide you.
You have many first mortgage options, with several down payment possibilities. RBCU offers FHA, VA, and conventional mortgages with fixed rate, adjustable rate, and balloon options with amortizations from 10 to 30 years to best suit your needs. We have options for your primary residence, 2nd home, and bare land.
Best of all there are no fees to consult with an RBCU mortgage specialist or to fill out an application! You can also obtain more information regarding mortgage loan options, view current interest rates, use mortgage related calculators, and even apply for a mortgage by visiting our online Mortgage Center.
Already have a mortgage loan with one of our Trusted Partners?
If you have a mortgage through our trusted partners, CU Companies or PHH Mortgage, you can view your mortgage information and details online and access year-end payment history, amortization schedules, information regarding Private Mortgage Insurance (PMI), and even have the ability to make payments.
CU Companies, www.cucompanies.com, click Mortgage on the menu bar and select view Accounts where it will bring you to the page to register to create an account which your online ID and password are of your choosing.
PHH Mortgage, www.mortgagequestions.com. will require to register on your first visit to their website. Your online ID and password are of your choosing.
Fixed-Rate Home Equity Loan
In today's rate environment, a Fixed-Rate Home Equity Loan appeals to some members more than the variable rate HELOC option. Especially if you intend to use the money all at once for a major purchase, remodeling project, or to refinance an existing loan.
With a Fixed-Rate Home Equity Loan, you will receive a lump sum amount with interest rates fixed for 5 years at a time. You can borrow on a 15-year or 20-year payment schedule depending on your situation.
Some things to consider:
Home Equity Line of Credit (HELOC)
You work hard on your home – isn’t it time it paid you back? Use your home’s equity to pay for college educations, home improvements, debt consolidation, or for nearly anything else you can imagine.
RBCU's HELOC requires no minimum balance and charges no fees for taking advances. You may qualify for a no closing cost option on a HELOCs up to $25,000. Instead of receiving one lump sum loan, with a HELOC, you only borrow what you need, when you need it. RBCU offers options for up to 80% loan-to-value. Remember, home loan interest may be tax deductible. Consult a tax advisor regarding your specific situation.
Your neighborly credit union is happy to announce that members with a first mortgage through RBCU may establish an escrow account to pay for property taxes and/or hazard insurance (each, an “Escrowed Item”).
The purpose of an escrow account is to place a portion of the yearly amount due for an Escrowed Item into the account for payment(s) in the future.
If you currently have your mortgage through RBCU or are interested in getting a mortgage through RBCU, establishing an escrow account will provide unparalleled convenience and peace of mind.
If you are interested in starting up an escrow account or have any questions about one, please talk to an RBCU Real Estate Escrow Representative.