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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 4.4 5 31 31
Save the hassle - go somewhere else. Waste of time. Extremely disappointed in the entire process. Tried to ask general mortgage pre-qualification questions at 2 branches. We were told to "just go online and fill it out". Filled out applications despite just wanting to know general information. Application showed we quailified for the best rate possible. Awesome! Waited one week. Heard nothing. Mail delivered our credit reports - both were 775+. Awesome! Waited 2 more weeks. Finally, today - after 24 days since completing the online application - we received a rejection letter citing not enough time at employment, and insufficient closing funds. Two things here. 1) The amount of tenure at the occupation was the #1 question we originally had before applying, and again - were just told to "fill it out online" anyways, and 2) The availability of funds available to close is only what you give them on the application. So if you have options as far as down payments, they will only look at what you actually put down. Again, I naively thought there would actually be a discussion with a loan officer to discuss our options on that. Also - apparently the section of the application where you can add notes and comments is useless as well, because I specifically asked questions regarding employment tenure and down payment, stating specifically that we were wanting to do "fact-finding" in regards to pre qualification, and never heard a single thing. Never once a phone call. Neve once a request for information. Never once an email short of the automated one during the loan application. In essence, I wasted 24 days and a hard credit check on my/my wife scores for information that was provided immediately during the process. And even though we had asked for someone to contact us, apparently our business is not important enough for someone to actually do so. I am disappointed in the process, but more so in RBFCU for not listening to their customers in the first place. I am not bitter about being rejected - if now is not the time, then it is simply not the time. But I am bitter about having to jump through all of those hoops for a process that is obviously broken. Waste of time. I feel like I waited "on-hold" for 24 days just to have a question answered. We will look somewhere else for our mortgage needs in the future and would advise others to do the same. August 10, 2015
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
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