Mortgage Loans

If you want the perfect home, it all starts with the perfect loan, and we make it simple!

Backed by myCUmortgage, Eastern Indiana FCU puts the buying power of literally hundreds of credit unions to work for you – ensuring you excellent rates, helpful calculators, online application, and an online loan consultant available 24/7 to help determine the products and rates that best match your needs.

When you find the mortgage product that’s right for you, you have the option of applying online and receiving an immediate preliminary pre-approval with a follow up call from our Mortgage Loan Officer. We offer:

• Competitive interest rates

• Purchase or refinance

• FHA, VA, USDA, and conventional loans

Getting Pre-Qualifed:

With a few clicks you can get pre-qualifed for a mortgage loan. In a hot market, being pre-qualified makes it much quicker and easier to make that offer on your dream home right away when you find it.

Give us a call at 765-529-6632 to see if we can help you or feel free to fill out our online Loan Application!

The mortgage loan application process:

• Submit an Application: To get the loan process started, first submit an application. You can apply at the credit union, during business hours, or in your pajamas 24x7 using our Online Loan Application.

• Loan Officer Review: We will process your application and give you a call to discuss the application and documentation requirements. We will also provide you with the necessary disclosures.

• Borrower Review: Once we get you the proper disclosures, rates and terms the ball is in your court. Once you give us the o.k. we will proceed.

• Appraisal & Underwriting: Once you give us the o.k. to proceed we will order an appraisal and you will be contacted by the appraiser to review the condition and estimate the value of your home. This process can take 2-4 weeks. In the meantime, we will be feverishly working in the background, gathering additional documentation from you and preparing the paperwork for closing.

• Ongoing Communication: We will keep in touch during the appraisal and underwriting process, so you know that your loan is moving along.

• Final Approval: Once we have all of the proper documentation and the appraisal is complete the loan application will be sent for final approval. This is generally a quick process.

• Preliminary Closing Documents: Once the final approval is granted you will be sent preliminary closing documents that will require your signature.

• Closing: Once the documents are returned, we will schedule a time and place to close the loan.

Refinancing your current home mortgage:

Already have a mortgage and want to refinance for a different interest rate or shorter term?

There are many reasons to refinance your home. We have loans that might be a good fit depending on how long you plan to stay in your home, and the terms of your current loan. You may be able to:

• Pay off your mortgage faster

• Earn valuable equity on your home faster

• Lower your current interest rate

• Reduce your monthly payment

• Convert to a fixed rate

• Save thousands on your mortgage overall