Very Important News--Regarding Your Home Loan Application Process

Welcome to our application platform. Thank you for considering doing a mortgage loan with us.

It is important for you to know that applying for a loan does not guarantee your rate and discount (if any), which is known in the industry as a "lock" agreement. When you complete the application, you will receive various disclosures including our "RCU Interest Rate Agreement" that describes this in more detail and we urge you to read it along with all of the other disclosures.

After reviewing your application, we will discuss with you the next steps, which include ordering an appraisal and if you elect to proceed, you will be required to pay a non-refundable fee as a deposit against the cost of the appraisal.

In many cases, we do not offer a "lock" agreement until we receive and review the appraisal. We do not have RCU staff appraisers. We use outside, independent appraisers and accordingly we are subject to their time frames which can vary according to market conditions and property location.

It is currently taking 1-2 weeks to receive an appraisal.  This could effect when you can obtain a "lock" and interest rates can increase or decrease during this time. We will do our best to communicate with you but we want you to understand this circumstance as we begin this process together.

To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets. As you are filling in the application, if you find yourself short of time you may save the application for review and completion at a later date. 

 After submitting your application, various loan programs may allow you to receive an immediate online credit approval.

Question 3 below is "What type of loan are you applying for?" The answer Home Equity refers to a second mortgage - either a fixed second or a Home Equity Line of Credit (HELOC).