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.

  • Mortgages
  • Home Equity
  • Home Equity Line of Credit
  • Escrow

First Mortgages

house sitting on stack of moneyYou 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 a range of amortizations to best suit your needs. We have options for your primary residence, 2nd home, and bare land. Look to our online Mortgage Center for full details.

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.

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.


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Fixed-Rate Home Equity Loan

house and cashIn 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. Check our online Mortgage Center for more information.

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 two different payment schedules depending on your situation. Visit our online Mortgage Center for details.

Some things to consider:

  • If you have a HELOC or credit card(s) with variable rates and are concerned with rising interest rates, a fixed rate may be a good solution.
  • A shorter term option may have a higher monthly payment vs. a longer term, but you'll pay less in overall finance charges over the life of the loan.
  • RBCU offers loan rates using 80% of your Loan-to-Value (LTV). Remember, home loan interest may be tax deductible. Consult a tax advisor regarding your specific situation.
  • These loans are available when using your personal residence or vacation home in Minnesota.

Talk to RBCU's real estate loan experts for more information on the option(s) right for you. 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 going to our online Mortgage Center.

apply now CURRENT RATES 


SAFE Act Registration Disclosure for RBCU
(PDF)


( 1) Any minimum, fixed, transaction, activity or similar charge that could be imposed. In other words, any fee considered a finance charge.
(2) Any periodic rate that may be applied expressed as an annual percentage rate.
(3) If the plan provides for a variable periodic rate, that fact must be disclosed. In disclosing the annual percentage rate in an advertisement for a variable-rate plan, the credit union may use an insert showing the current rate; may give the rate as of a specified recent date; or may disclose an estimated rate. Your credit union could also disclose that the annual percentage rate may vary or a similar statement.
( 4) Any membership or participation fee that could be imposed.
(5) Any loan fee that is a percentage of the credit limit under the plan and an estimate of any other fees imposed for opening the plan, stated as a single dollar amount or a reasonable range.
( 6) The maximum annual percentage rate that may be imposed in a variable-rate plan.


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Home Equity Line of Credit (HELOC)

house and cash

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.

APPLY NOW CURRENT RATES 


( 1) Any minimum, fixed, transaction, activity or similar charge that could be imposed. In other words, any fee considered a finance charge.
(2) Any periodic rate that may be applied expressed as an annual percentage rate.
(3) If the plan provides for a variable periodic rate, that fact must be disclosed. In disclosing the annual percentage rate in an advertisement for a variable-rate plan, the credit union may use an insert showing the current rate; may give the rate as of a specified recent date; or may disclose an estimated rate. Your credit union could also disclose that the annual percentage rate may vary or a similar statement.
( 4) Any membership or participation fee that could be imposed.
(5) Any loan fee that is a percentage of the credit limit under the plan and an estimate of any other fees imposed for opening the plan, stated as a single dollar amount or a reasonable range.
( 6) The maximum annual percentage rate that may be imposed in a variable-rate plan.


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Escrow

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.

 


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