Buying your dream home starts with the right home loan
Free rate roll down on all our 3/1 ARM loans for a limited time!*
Rates1
View all ratesInterest Rate
as low asAPR
as low asThe Power of Getting Preapproved
Learn the benefits of getting preapproved to show the seller you're serious and get more negotiating power.
What we offer
Purchase
Whether it’s your first home or an investment property, our mortgage professionals are here to help you fund your next home loan.
Tenants In Common (TIC) Loans
TIC agreements are an affordable way to achieve your home ownership dreams alongside your TIC partners.
Construction Loans
RCU also offers loans for those looking to start their home process by buying a lot and building a home, building an ADU, or other home construction needs.
Individual Taxpayer Identification Number (ITIN) Loans
RCU offers mortgages to non-citizen home buyers with an ITIN and required employment authorization document(s).
Estimate your monthly payment
Homeowners Insurance: 100
Mortgage Insurance: 167
Why choose RCU?
Our mortgages feature competitive rates to keep your payments low, and local service so you can speak with a real person when it matters. When it’s time to purchase, refinance, or build your home, we’ll be here, ready to help you find the right option and guide you through the process. Watch the video to find out why the Agee family chose an RCU mortgage.
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Apply online
Complete an application to begin the loan process.
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Work with your loan officer
Your loan officer will guide you through the mortgage process.
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Use your mortgage loan
Get approved and use the loan funds to purchase your new home.
Have a question?
If you have questions about any part of the home buying process, our mortgage experts are here to help. Schedule an appointment or give us a call at 1 (800) 609-9009.
No matter what home sweet home means to you
RCU is here for all your loan needs. With thoughtful service and local decision making, our team can help you buy your next home.
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*Offer valid on loans funded between 06/01/2023 to 09/01/2023. Certain restrictions apply. Offer applicable to 3/1 adjustable-rate mortgages. Membership must be in good standing to be eligible. If Member is eligible for the rate roll down, the rate will be adjusted to current market rate. Please contact us for additional details.
1Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) for rates listed above is 95%. Maximum CLTV for investment (non-owner occupied) is 80%. Rates and max CLTV assumes property is a single unit, primary residence, non-manufactured home. RCU mortgages are available only CA properties only. ARM rates are subject to periodic adjustments after loan closing, per the terms of the note.
2 Non-closing cost product requires a minimum balance of $200,000 and includes a potential savings of $2,600 in closing costs.
3Insurance products are not deposits of Redwood Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by Redwood Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by Redwood Credit Union need not be purchased from Redwood Credit Union and may be purchased from an agent or an insurance company of the member’s choice. RCU Insurance Services is a wholly-owned subsidiary of Redwood Credit Union. Business conducted with RCU Insurance Services is separate and distinct from any business conducted with Redwood Credit Union. License no. 0D91054. NPN no. 7612227.
4Offer valid through 12/31/2023. Certain restrictions apply. Offer applicable to adjustable-rate mortgages and jumbo 30-year fixed loans. Membership must be in good standing to be eligible. If Member is eligible for the rate roll down, the rate will be adjusted to current market rate. Please contact us for additional details.
Advanced Options
Property Tax Rate
The tax that you are required to pay as a property owner levied by the city or municipality. Lookup your county rate or state average rate for a more accurate calculation.
Homeowners Insurance (Monthly)
The standard insurance policy that covers damage to your property and the things you keep in it. The average annual homeowners insurance premium is around $1,200.
HOA Fees (Monthly)
These are dues that are used by a homeowners association toward maintenance of common areas used by all homeowners in a housing development or complex.
Private Mortgage Insurance Rate
The premium for the insurance policy for FHA loans and conventional mortgages if your down payment is less than 20%. PMI typically costs between 0.5% to 1% of the entire loan amount on an annual basis. Only calculated if down payment is less than 20% of mortgage amount.
Disclosure
This calculation represents an estimate. Calculation does not factor credit score. Default input values are estimates.
Highlights
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Competitive interest rates
Receive competitive rates on fixed and variable loans in order to help you save money on the biggest purchase you will make, your home.
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Local service
Enjoy personalized service and advice to help you finance the home of your dreams.
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No-closing-cost-option2
Closing costs can add an unexpected expense to the price of your new home. With our no closing cost option, we can help you get more buying power.
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Quick closing times
We know that closing a loan quickly is important to having a competitive offer. We’re here to help so you can start enjoying your new life as a homeowner as soon as possible.
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RCU Insurance Services3
Getting home insurance through RCU Insurance Services saves you time and effort. With helpful and friendly team members, you can view a complete selection of coverage options.
RCU Insurance Services -
Variety of repayment terms
Take control of your monthly payments and choose an option that works best for your monthly budget.
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Jumbo loans
Afford a broader range of homes with jumbo loans up to $3 million, which is more than conforming home loans.
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Home loan eligibility for non-U.S. citizens
If you’ve immigrated or are working in the U.S., you may be wondering if you can pursue your dream of home ownership here. We may be able to help.
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Rate Roll Down Options
If mortgage rates decrease, eligible loans4 can qualify for a rate reduction without needing a full refinance!
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24/7 Application Support
Our team is here to help you with your mortgage application 24 hours a day, 7 days a week. Give us a call when it’s convenient for you.
Rates
Looking for additional mortgage rates? Our team is here to help. Contact us to learn about all our home loan options.
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Rates are effective November 21, 2024 and are subject to change without notice.
1Certain restrictions may apply. Maximum Combined Loan to Value (CLTV) for above products owner-occupied is 95%, and for investment properties it is 80%.
Rates shown above are based on the following scenario: single unit property, primary residence, non-manufactured, 60% CLTV, and 760+ credit. Rates can vary based on loan scenario. RCU mortgages are available for CA properties only. ARM rates are subject to periodic adjustments after loan closing, per the terms of the note.
Payment examples provided do not include taxes or insurance, actual amounts may be greater.
Non-Closing cost product requires a minimum balance of $200,000, and includes a potential savings of $2,600 in closing costs.
Resources
Contact Us
Schedule an appointment
Meet with a mortgage specialist to choose what’s right for your needs.
Purchase
No Closing Cost Options2
Our no-closing-cost-options can help make the initial cost of a home more affordable. Plus, our competitive rates will allow for more cash flow in the initial years of your loan.
30-Year Fixed
Enjoy fixed monthly payments and fixed interest rates for the lifetime of the loan, making home payments easier to incorporate into your budget.
15-Year Fixed
For those who enjoy the fixed payments and rates of a 30-year mortgage loan, but want to pay off their loan in half the time.
5/6 ARM
Receive a consistent interest rate for the first five years of the loan, then the rate adjusts every six months thereafter.
7/1 ARM
Get a fixed interest rate for the first seven years, then one annual rate adjustment each year for the remaining life of the loan.
Refinance
No Closing Cost Options2
Our no-closing-cost-options can help make the initial cost of a home more affordable. Plus, our competitive rates will allow for more cash flow in the initial years of your loan.
30-Year Fixed
Enjoy fixed monthly payments and fixed interest rates for the lifetime of the loan, making home payments easier to incorporate into your budget.
15-Year Fixed
For those who enjoy the fixed payments and rates of a 30-year mortgage loan, but want to pay off their loan in half the time.
5/6 ARM
Receive a consistent interest rate for the first five years of the loan, then the rate adjusts every six months thereafter.
7/6 ARM
Get a fixed interest rate for the first seven years, then the rate adjusts every six months thereafter.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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