Home financing that fits you
At RBFCU, we're here to guide you through your homebuying journey, and provide the mortgage loan options and related services that meet your needs.
Buying a New Home: A Quick Start-to-Finish Guide
Download our easy guide to learn about getting a mortgage and buying a home. Topics include:
- Where should you start?
- What can you afford to buy?
- How’s your credit score?
- Down payment and closing costs
- Understanding your mortgage payment
Pay low closing costs with no origination fee
Don’t let closing costs get between you and your new dream home. RBFCU removes some of the upfront costs by eliminating the origination fee, helping you turn your dream into reality.
- Available for 20 and 30-year fixed-rate conventional, jumbo and construction loans, and 5/5 adjustable-rate mortgage loans
- Members have the option to pay for discount points toward an even lower rate
Let us walk you through the mortgage loan process
1. Get prepared
Buying a home is a big commitment and you’ll want your finances to be in good condition before you start the process to ensure the best possible outcome. Gather your financial information, like recent tax returns, financial statements and pay stubs; your loan application will let you know what financial information is necessary. You should also review your credit score, take a look at your debt-to-income ratio and take other important steps to position yourself for receiving the best possible loan terms.
Click the button below to read our document on “Maintaining Your Financial Status and Credit Score” for tips to help guide you through the process.
2. Decide what you can afford
Before you begin shopping for a home, take a look at your budget and current expenses to determine what you can afford. You’ll want to evaluate your monthly incoming and outgoing funds to see where a down payment, closing costs and your new mortgage payment might fit in.
3. Get preapproved
Once you know how much home you can afford, complete the application for a preapproval letter. The preapproval will let sellers know that you are a qualified buyer who is prepared to make a home purchase.
4. Find your home
Now’s the time to determine all the traits that make up your perfect home. Research areas and neighborhoods of interest. Also, connect with an RBFCU preferred real estate agent, who can help you search smarter.
5. Complete paperwork
You’ll complete the application process you started with your preapproval request by submitting your documents and continuing through the loan process. This may sound simple, but it can be a big undertaking, depending on your employment status, residency, etc.
6. Finalize your loan
Our mortgage team will help you through each step of the loan process and make sure you know everything you need to know to close your loan with confidence.
Ready to apply for a loan? Here’s what you’ll need to complete the application:
- The amount you would like to borrow
- The number of years you want to finance your loan (term length)
- Your current employment and income information
- Your phone number and email
- Information for joint borrowers you plan to include on the mortgage loan (including date of birth, address, income and employment, Social Security number and contact information; if applicable)
- An idea of the total amount you would like for your loan and monthly payments
For a list of all the documents often required to complete your purchase, download our Mortgage Application Checklist.
Worry-free payment security
If you’re concerned about interest rates, a fixed-rate mortgage will keep your payments the same — no matter how high rates may go.
Flexibility now, and in the future
If you plan to move or refinance in a few years, an adjustable-rate mortgage (ARM) could be the best option for you.
Help for our military and more
A Federal Housing Administration (FHA) or Veterans Affairs (VA) loan can help you buy a home if you’re a veteran, service member or spouse.
How much home can I afford?
How much should I put down for a new home?
How much will my mortgage payments be?
Which is better for me: A fixed-rate mortgage or an adjustable-rate mortgage?
Which is better for me: A 15-year or 30-year mortgage loan term?
What is included in my mortgage loan closing costs?
Your closing costs include a loan origination fee, a recording fee, flood determination, attorney fees, underwriting fees, an appraisal, a survey, escrow reserves, homeowners insurance, title fees, a credit report fee and a tax service fee.
Still have mortgage questions?
Loans subject to credit approval. Rates and terms subject to change without notice. Mortgage loans are available only on property in Texas. Origination fee program not available for short term loans, FHA or VA loans. RBFCU NMLS# 583215. FHA/VA loans offered through RB Mortgage LLC (NMLS# 862516). RB Mortgage LLC is primarily owned by RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union.