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Home Equity & Mortgage Loans Designed Just for You
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Unlock your home's potential with a home equity loan. Whether it’s a remodel, debt consolidation, or something big on the horizon, CRCU has the tools and expertise to make it happen. Plus, celebrate our 90th anniversary by entering our $900** prize giveaway!- Gives you access to up to 80 percent of your home's value
- Interest rates that are lower than most personal loans
- Get your money up front with a one-time payout
- The interest on this loan may be used as a tax deduction (please consult your tax adviser for details)1
- No pre-payment penalty
- Funding in 30 days or less*
- Fixed rate & monthly payments for the life of the loan
Find the mortgage loan that fits you.
Ready to start the home loan process? Choose from one of the many products below.
First-Time Home Buyer
Program designed to help first-time home buyers purchase their homes and understand their mortgage options.
Fixed-Rate Mortgage
A Fixed-Rate Mortgage is a mortgage where the interest rate is fixed and the monthly interest payment does not change over the life of the loan.
Community Hero Mortgage
We offer a very special mortgage loan for those in the medical industry, educational field, and all first responders.
Jumbo Loan
A Fixed-Rate or Adjustable-Rate Loan and is available for various terms up to 30 years. The loan amounts are greater than conventional loans and begin at $766,550.
Home Improvement Loan
Leveraging the equity you've earned in your home is one of the best ways to fund home improvements. You can save thousands in interest by using a Home Equity Loan to fund your renovations.
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Home Equity Loan
Tapping into your home’s equity with a CRCU home equity loan can be a great way to get closer to your goals, like consolidating high-interest debt, traveling, paying for education or home renovations, and more.
Land Loan
If you’re longing to stretch out or try something completely new, make the move to CRCU for affordable loans for raw land, vacant lots and building a home, even for land to build in a rural area.
Construction Loan
You’re completely unique – and so is your ideal home. So build it with CRCU by your side. Our construction loans offer you the quick, affordable financing you need to make your dream a reality.
Government Loans
Home loans insured by the Federal Housing Administration can make it easier to qualify. VA mortgage loans offer no down payment, lower credit score requirements and additional benefits. Need help with an FHA, VA, or USDA Loan?
Start your application online!
It’s easy to apply for your CRCU real estate loan with our online application. If you have questions or would like to schedule an appointment please email Mortgages@crcu.org or call 832.926.7222.
Our loans typically close in 25 to 45 days.
*Individual loan circumstances vary and actual loan funding may exceed stated timeframe. **Community Resource Credit Union is federally insured by the National Credit Union Administration. Any person who lives, works, worships or attends school, located within the boundaries of the Goose Creek, Barbers Hill, Crosby, Dayton, Huffman, Humble, Liberty, Montgomery and New Caney Independent School Districts can bank with Community Resource Credit Union once a $5 savings account is established for membership. Loan approvals are based on underwriting criteria and this promotion is not a commitment to lend. See CRCU’s website or speak with a CRCU mortgage representative for mortgage or home equity program specifics. CRCU reserves the right to discontinue any promotion at any time for any reason without notice. Apply for a Mortgage or Home Equity loan January 1 through April 30, 2025 and you’ll be entered to win 1 of 2 $900 prizes when you fund your loan before July 31, 2025. CRCU will conduct a random drawing of all qualified entries by August 15, 2025 and contact the winner(s) by phone. Odds of winning are based on number of entries. Members must be in good standing at the time of the drawing to qualify and CRCU employees are not eligible to participate. 1099 forms will be issued to winners the following January. Odds of winning are based on number of entries. Restrictions and qualifying criteria may apply. 1Check with your tax advisor for details.
FAQs
Frequently Asked Questions
Are there closing costs?
Yes, depending on the type of loan you request.
Can my payments be set up twice a month?
No, all our mortgage loans are due on the first of each month.
How much does a loan cost annually?
The APR includes the interest rate, points, broker fees, and certain other credit charges a borrower is required to pay.
What is a Closing Disclosure?
A five-page document which provides final details about the mortgage loan that has been selected. It includes loan terms, monthly payment, closing cost, pre-paid items, and what, if any, cash is needed to close. It also gives information about your lender and title company.
What does DTI/debt-to-income ratio mean?
The debt-to income ratio is personal finance measure which compares an individual's monthly debt payment to his monthly gross income. The debt-to-income ratio is the percentage of your gross monthly income that goes to paying your monthly debt, including all installment and revolving debt. This would also include any child support payments that might be paid.
What is gross monthly income?
Your gross income is pay before taxes and other deductions are taken out.
What is an LE/Loan Estimate?
A form, required by federal law, that provides the borrower disclosures to help them understand the key features, cost and risks of the mortgage loan they are applying for.
What does LTV/Loan-to-value mean?
It is a ratio of the first mortgage lien as a percentage of the total appraised value of the real property.
What does CLTV/Combined loan to value mean?
Is the same calculation used to find the loan-to-value ratio, but it is the sum of all loans taken out on the property as a percentage of the total appraised value of the real property.
What is a mortgagee?
The mortgagee is the lender who holds the lien.
Do student loans count against me?
We use the listed monthly payment on the credit report or 1% of the balance.
Does Community Recourse report to credit bureaus?
Yes, Community Resource Credit Union does report credit history to credit bureaus.
Will CRCU finance homes out of the state of Texas?
At this time, CRCU only makes loans on properties in Texas, not out of state.
How do I know which mortgage loan is right for me?
Our professional loan officers will help you make the best choice for your specific needs.
Does it make sense to refinance if I recently obtained a mortgage loan?
It may be beneficial to refinance; our loan officers will help you in making that determination.
Can we refinance our first and second lien?
Yes, but there may be stipulations if either of the liens are Home Equity loans.
Are there upfront fees?
Yes, a credit report and appraisal fee will be required.
Do students loan count against me?
Even if the student loans are deferred, we use listed payments on credit report or 1% of the balance.
What is PMI/Private Mortgage Insurance (conventional loans only)?
Insurance needed for mortgages with less than a 20% down payment based on the price of the home. It is a financial backing in which a private insurer insures the mortgagee against a percentage of borrower default losses in return for the payment of specified PMI.
What is an FHA Loan?
It is a mortgage loan that is backed by the Federal Housing Administration. FHA loans are designed to make home buying accessible to people with lower incomes and/or poor credit scores. These loans are required to carry FHA mortgage insurance for the life of the loan.