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How to Get a Loan

Once you select us to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a mortgage expert who can answer questions is just a phone call away.

Here's an overview of the loan-application process

STEP ONE -- Apply Now! Getting started is easy

Get pre-approved before you shop. Being prepared and knowing what you're approved for is knowlege when you're bargaining for that affordable home price. 

When you've selected a property and have a contract, let your Loan Officer know who your Real Estate Agent is and have them send the contract . You can lock in your interest rate and get loan disclosures within 3 days detailing the costs for this specific property.

After receipt of your disclosures we'll order a property appraisal for you. This upfront fee is $350.00. You will get a copy of this appraisal sent you.

STEP TWO- Processing your loan

Information on your application is verified by credit reports, employers and the IRS by loan processors. Then it is sent to Underwriters with the appraisal for approval . During this time you can be getting quotes for your homeowners insurance.

STEP THREE-- Your Loan is Approved and Funded

Your Loan Officer or Real Estate Agent  will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly.

We will coordinate with the escrow team and you'll sign the final papers at their office.

Simple, Straightforward, Cost Effective, and FAST!

River Valley Credit Union - NMLS # 405613
Toll Free:  (800) 798-0217 Ext. 2302
Direct:  (937) 859-6260 Ext. 2302
Toll Free:  (800) 798-0217 Ext. 2302
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