Get Pre-Approved with Great Rates and Terms

We provide ‘in-house’ personable service so all your loan needs are under one roof!
We strive to be a financial resource for our members through every life stage.

What do you need to know?

If you are ready to apply for a Your First Mortgage Loan, we want you to make an informed decision. Here is what you need to know about our Home Purchase Loan program:

  • Minimum down payment – 5%
  • Maximum Loan Amount – $424,000
  • Maximum Term – 30 years
  • Loan Type – Conventional Only
  • Property Types: Single Family, townhome and condominiums. (Condos-Restrictions apply per Fannie Mae guidelines)
  • CLOSING COST MAY NOT BE ROLLED IN

WHAT YOU NEED TO KNOW AS FIRST TIME BUYER!

Our mortgage experts know the ins and outs of the home-buying process and can help you make sense of it all. We will find the loan program that best fits your specific situation. That can be helpful since there are a lot of options.

If you are just getting started, here’s some great advice on what steps to take now.

  • Get organized. Discuss the documents you will need to provide with your lending officer. These may include pay stubs, bank statements and tax forms.
  • Know Your Score. A good credit score enhances your chance of being approved for a mortgage and may lower your interest rate. If your score is low, improve it by making timely payments, paying the monthly minimum (or more) and keeping existing credit card accounts with zero balances open.
  • Estimate how much you can borrow. You can get an estimate of how much you’ll be able to borrow by being pre-approved for a mortgage. You can determine this from a lender after providing them with some financial information.

 

  • Understand costs. In addition to your monthly mortgage payment, you also pay interest, taxes, private mortgage insurance (if your down payment is less than 20% on a conventional loan) and several one-time fees at closing. These closing costs typically range from 2–6% of the total amount of the mortgage loan. Make sure you know the total cost.
  • Listen. Team up and utilize the opinions of your real estate agent, they know the neighborhoods and can help negotiate a fair price for the house you want. Your lending officer can also help you determine how much home you can afford.

How to get PRE-APPROVED?

  1. Become A Member. In order to apply for a loan you have to become a member if you have not already established your membership with Beacon FCU.
  2. Meet with our Mortgage Officers to determine the best loan for your needs.
  3. Fill out the Loan Application and present all the documents.
  4. After you apply and provide the required supporting documentation, one of our mortgage loan officers will review your application to see if you qualify for the loan. Once approved you will receive a pre-approval letter, which will be valid for 90 days.
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    GET PRE-APPROVED

    Fill the form below to get in touch with one of our Mortgage Experts.




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    NOTE: Your specific rate and term will be dependent upon your credit rating, collateral value and amount financed.
    *APR= Annual Percentage Rate.  Rates are subject to change without notice.  For information on current rates, call our Mortgage Department at 281-471-1782.
    Rates based on credit score, term and LTV (Loan To Value). Other restrictions may apply.