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Home Loan Options


Learn about Property Insurance options from our partner, TruStage. Switching could save you hundreds of dollars!

If you are a first time home buyer, take time to visit our Resources section for information to help you start the home buying process. Be sure to check out our calculators which will help guide you through some important number crunching.

Am I Financially Prepared?

Before you consider buying a home you must be financially ready. Some things you should consider:
  • Have you saved for a down payment – a minimum 3% of the purchase price of the home but 100% financing is available for qualified buyers.
  • Is your credit record healthy?
  • Can you afford the property taxes?
  • Can you make the monthly mortgage payments?
  • Do you have money set aside for home emergencies such as a new furnace or hot water heater?

Does it Make Sense to Buy?

Be sure to think about your future plans, consider questions such as:
  • Does it make sense to rent verse buy?
  • What are the monthly rental costs verse monthly house payment?

How Much “Home” Can I Afford?

You want to start looking for your dream house but you’re not sure just how much “home” you can afford. That’s where we can help. We can help you calculate what you can afford, explain our mortgage loan options and get you into a house you’ve been dreaming of – while helping to keep the costs well within your budget.



When applying for a mortgage loan, lenders require several pieces of personal information and documents. To help speed up the process and ensure you are prepared, we have compiled a list of items you’ll need to review and make sure you have ready for your mortgage consultation.

Personal Information To Have Ready

  • Property information including address
  • Social Security number(s) of applicant(s)
  • Employment information for the previous two years
  • Income information – including salary, overtime, bonuses, commissions, dividends, interest, retirement and any other source of ongoing income
  • Present rent or mortgage payment information – including payments, taxes, dues and insurance
  • Liquid assets – including name of financial institution, account type and balance including retirement and investment statements
  • Amount of cash available for the deposit towards purchase
  • Property owned – including current residence, businesses owned, vehicles and a value estimate of remaining personal property
  • Liabilities for all open accounts – including account number, names, complete mailing addresses, balances and minimum monthly payments
  • Child support or alimony funds

Documents We Will Need

  • Most current pay stub and W-2 for the past 1-2 years or W2 Forms
  • Statements for all non-CVFCU accounts for the previous two months
  • If renting, the name, address and telephone number of any landlord(s) for the previous two years
  • Purchase contract and copy of the canceled check from deposit 
  • If retired, a pension statement or awards letter
  • Separation documents and divorce decree, if applicable
  • If child support or alimony is used as income, the most recent twelve-month history of receipt is required

If you are self-employed in addition to the items listed above:

  •  Two years’ tax returns with signatures  including all schedules, a current balance sheet or a current profit and loss statement



*Annual Annual Percentage Rate (APR) is variable and subject to change without notice. Lowest rates include all applicable discounts. Online application discount does not apply.

¹Representative example of loan repayment terms: For $10,000 borrowed over 60 months at 3.49% Annual Percentage Rate (APR), the monthly payment is $182. This example is an estimate only and assumes all payments are made on time. 

²For a representative example, contact your loan officer.

Home Equity Lines of Credit are based on the current Wall Street Journal Prime Rate Index Table. Member’s rate may be higher based on creditworthiness. Credit limit amounts are based on Loan-to-Value (LTV). Homeowner’s insurance is required. Consult your tax advisor regarding deductibility of interest.