Protect Yourself from Fraud- For your security, always contact Rally Credit Union using our official phone numbers. If you receive a letter, email, text message, or other communication with a different phone number, do not call it until you’ve verified it’s legitimate.
Refinance your way—lower your rate, reduce your payment or change your term
Estimate your new payment and decide if it’s time to make a move.
Ask yourself these questions before you apply.
Review the current state of your debt: credit cards, auto loans, student loans and personal loans. Your credit score can be a key indicator of your readiness for home ownership. Before you meet with a Home Loan Expert, collect your most recent monthly statements for your checking and savings accounts, as well as statements for any other financial holdings or investments. Your home loan will require a down payment that acts as a deposit. The down payment gives you immediate equity in the home and indicates your financial stability. Our home loans have a wide range of down payment options. The amount of your down payment will affect the interest rate, closing costs and monthly payment. Proof of deposit with a current checking, savings, retirement, or investment account will assist with your loan application. As a starting point, you can figure a monthly payment that is about 25% of your take-home pay, which should include taxes and insurance. The costs associated with home ownership go beyond just your principal and interest. Additional expenses may include property taxes, insurance, homeowner’s association fees, and utilities, such as electricity, gas and water. These charges can add hundreds to your monthly budget and should be factored in.
All applicants must provide:
| Income Type | Documents |
|---|---|
| Standard Employment |
|
| Self-Employed |
|
| Retirement, Pension, Disability |
|
Standard Employment:
Pay stubs for the last 30 days
Self-Employed:
Filed federal business tax returns (Form 1065, 1120 or 1120-S) for the two most recent years. Year-to-date profit and loss for each business
Retirement, Pension, Disability:
Retirement, pension or disability award letter
New Home Loan Inquiries: Call 1-800-622-3631 and press 5, then 2
Existing Home Loans: Call 1-866-840-4152
Home Loan Payoff
Requests: Call 1-866-840-4152
Download your checklist and helpful info below to stay on track and settle in smoothly.
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Rate Disclosures
*APR = Annual Percentage Rate
All home loans are subject to credit application, qualification and approval. Must qualify for membership upon approval. Rates are subject to change and are based on credit history, term and loan- to-value (LTV) ratio. Escrow accounts are mandatory for new home loans located within designated flood zones, secondary loans and portfolio home loans exceeding 90% LTV.
Information displayed is accurate as of the effective dates noted on the Loan Rates Charts and is subject to change without notice. Loan pricing may only be locked upon completion of a Home Loan Application and rate lock agreement. Please contact a Home Loan Expert for pricing details. Other restrictions may apply.
For Refinancing:
