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20 & 30 – Year Mortgage Products

We know the decision to purchase or refinance your home can be complicated. So can the type of loan you choose. We want to help you understand the key differences of our 20 and 30-year products.

A fixed rate mortgage may be best if:

  • You are more comfortable knowing your principal and interest payment will remain the same throughout the life of your loan
  • You plan to stay in the same home for more than ten years
  • You don't expect your income to increase in the coming years

An adjustable rate mortgage (ARM) may
be best if:

  • You can afford potential risk of payment changes due to interest rates increasing or decreasing
  • You want to make the most of your buying power
  • You want more flexibility in case you plan to move within 3-5 years
  • You anticipate paying off your home sooner
  • You expect your income to increase

NMLS# 583215

20 & 30 Year Mortgage Loans 4.5 5 30 30
Used to be great, terribly slow now The mortgage service was great 10 years ago, when I was preapproved within a day. Now it is taking weeks! It took over a week to be asked for supporting documentation, and then another 10 days to get preapproval. However, certain aspects of the preapproval form were incorrect. I hope RBFCU can get this situation corrected. April 22, 2015
Slow, Slow Service - Even for just a Prequalification I submitted a pre-qualification request over three weeks ago. To date, I have not received any communication regarding the status of the pre-qualification. I've called twice to inquire about the status, but was told they were busy and a pre-qualification takes 5 - 7 business days. I explained that I submitted the request more than 5 -7 business days ago and was basically again told they were very busy. So, I went with another bank, received a pre-qualification in 15 minutes and am well on the way to financing my home purchase. A shame really, because overall I've always thought RBFCU did an outstanding job. But that doesn't seem to be the case with the mortgage department. February 13, 2015
Super Slow Wow, I wouldn't suggest RBFCU mortgage if you are on any type of time frame. I have had to call to check the status of my loan request, I had found a house I liked with a week advance notice of the house going on the market, which will probably be gone by the time my phone call is returned. I finally got a hold of my loan officer who told me she was busy and couldn't assist me. She said she would call me back by the end of the day and never did. I called back two days later, then the same evening she calls me to tell me she still can't assist me for another two to three days and that she has to leave in ten minutes and cannot help me today either. I asked her what the point of her phone call was, I was still in the same boat. All I wanted was to prequalify. Thanks for no help RBFCU! February 7, 2015
Glad to use RBFCU so much easier and no hidden Fees RBFCU is a Lender you can Trust. That alone you convince you to use them. I have 2 houses with them and they help go the extra mile. August 23, 2014
web site not user friendly for 20/30 yr mtg. when applying for a 20 or 30 yr mtg. you are directed to a 7,10,15 yr mtg. and there is no way to get around it. I want to fill out a mtg. loan application for correct mtg. so I called loan center and was told to just add that info at the bottom of the 15 yr loan. The problem with that is that all the truth and lending statements, etc pertaining to the loan are totally different then what im applying for. I think this needs to be fixed asap because its not providing the borrower with correct information required by law. thank you, I have gone in circles for 3 hrs trying to fill out a loan app that should take less then 30 minutes but hopefully something good will come out of it for other members in the future ! March 31, 2014
RBFCU - Best Financial Institution to deal with My husband and I have been members since 1987. Over the years we have had several loans with RBFCU. Last year we moved to North Texas and bought a house. Mortage process with RBFCU was so simple and flawless. They had the account funded the night before and closing was a matter of 15 minutes. Only wish they had a branch up here in North Texas. February 22, 2014
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