Processing is the time between application and loan closing. During this time you...
Closing costs are fees incurred in a real estate or mortgage transaction paid by ...
Funds from a Home Equity Loan are disbursed in full at the time of closing. This ...
Our Home Equity Line of Credit interest rate is determined by Prime Rate as publi...
A home equity loan is a type of loan in which the borrower uses the equity in the...
The cost to re-finance your home depends on the loan amount and the type of loan ...
Generally, the minimum loan amount for a 1st mortgage loan is $100,000. Please co...
ARMs with the option of conversion to a fixed loan during a given time period (se...
Mortgage with a low fixed interest rate for 5, 7, or 10 years, which is then adju...
A mortgage which requires principal and interest payments at two-week intervals w...
An alternative financing option that allows low- and moderate-income homebuyers t...
The Primary Mortgage Market includes banks, savings and loans, credit unions, and...
FHA loans are ideal for the first-time home buyers and those low-to moderate-inco...
A state tax, in the forms of stamps, required on deeds and mortgages when real es...
Currently Oregonians Credit Union is not offering VA loans. We do however offer O...
No, we do not offer no closing cost/no point loans as we keep our fees to a minim...
Primary Mortgage Insurance (PMI) is insurance that lenders require from homebuyer...
Yes, you must provide proof of one year full coverage at the time of closing. On...
The late fee for loans delinquent 15 days (16th of each month) is 5% of the month...
To increase a HELOC loan amount you may contact a loan officer, email us or apply...
You may roll closing costs into your loan on a refinance or equity loan providing...
A first mortgage is the primary lien against a property. For more information, pl...
Yes, mortgage payments can be made online through e-teller. To sign up for e-tell...
A point is a one-time charge by the lender for originating a loan. Points are pai...
Discount Points are set by the Secondary Market. Discount points are charged base...
They are two different names for a loan that is taken out against your home to ge...
These are fees charged by the closing agent for shipment of loan documents and re...
An escrow account is an account held by lender for the purpose of holding funds u...
An adjustment interval is the length of time between rate adjustments on an Adjus...
Yes, you may elect to pay your own taxes and insurance. Impounds or Escrow may b...
If you have an escrow/impound account, the Credit Union obtains your real estate ...
A pre-approval helps the buyer be seen as more stable and has a greater influence...
A reverse mortgage converts home equity into money, but requires no repayment unt...
A Closing/Settlement Statement is a form prepared by the closing agent that itemi...
Hazard Insurance is coverage that compensates for physical damage to a property f...
The credit union has the option to retain or sell a loan to the secondary market ...
It can take up to 60 days from submission to closing date. Loans may take longer ...
There are two parts and each part has many steps: Approval of the borrower and Ap...
No, we offer first lien and second lien position loans only....
Closing costs on second mortgages vary from state to state and normally run betwe...
Interest rates fluctuate daily. Rates available when you apply may be different t...
We will send you a written request for your tax bill if we need it. Please send u...
Prepaid Interest is charged to a borrower at closing to cover interest on the loa...
Freddie Mac (FHLMC) Federal Home Loan Mortgage Corporation. Freddi Mac is a quasi...
The closing is the meeting between the buyer, seller and lender or their agents a...
Yes, the amount due will change if payments were posted to or removed from the ac...
Reserves are the portion of a borrower's monthly payments held by the lender to p...
Title Insurance protects the lender (lender's policy) or the buyer (owner's polic...
A Balloon Mortgage is a short-term, fixed-rate loan with low payments for a set n...
We accept coverage from most insurance companies. If you choose to replace your c...
The closing agent varies by state law. In some Eastern states attorneys are closi...
A Mortgage Note is a legal document obligating a borrower to repay a loan at a st...
Mortgage insurance is insurance purchased by a buyer to cover the lender's risk o...
Sellers Points are a lump sum paid by the seller to the buyer's creditor to reduc...
We do offer a variety of adjustable rate loans....
An Escrow Officer is a neutral third party who is appointed to act as a custodian...
Truth in Lending Act is a Federal law that requires written disclosure of the ter...
A blanket mortgage is a mortgage covering at least two or more pieces of real est...
A mortgage is a document creating a lien on a property as security for the paymen...
A mortgage banker is a company that originates mortgages exclusively for resale i...
MIP is Mortgage Insurance Premium. It is insurance purchased by borrower to insur...
A mortgage broker is a person or entity that arranges financing for borrowers but...
Yes, you will always receive a copy of your appraisal for a funded loan that you ...
A fixed rate Mortgage is a mortgage that has an interest rate that does not chang...
We do not offer Jumbo loans at this time, but may occasionally offer this product...
HUD loans are basically FHA loans. We do not offer this type of loan at this time...
Mortgage in which initial low payments (with potential negative amortization) inc...
Our mortgage software will only accept full payments. If you would like to keep t...
We limit our members to one principal reduction payment per year. If you would li...
We have a number of helpful mortgage calculators on our website. https://www.oreg...
Applying online is easy! Click here to start your application or view our rates....
ODVA is the acronym for Oregon Department of Veterans' Affairs. The Oregon Depart...
Click here for our current mortgage rates...
A mortgage loan is a real estate loan that serves as collateral to provide for re...
We offer mortgages, home equity loans, and HELOCs on properties located within th...
