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Apply or Get Pre-approved for a Mortgage
Whether you have found your dream home, are still shopping, or would like to refinance an existing mortgage, completing the mortgage application is your first step.
There are three ways to apply or get pre-approved:
- Apply Online Now. Do things on your schedule and get them done faster.
- For purchases, contact one of our Mortgage Loan Officers, who can help you complete your mortgage application online, over the phone, or in person.
- Call us at 845.463.3011 / 800.468.3011, Monday – Friday from 8:30 am – 5 pm ET.
What to Expect From Our Online Application
The following gives you an overview of our online mortgage application:
- Apply online for pre-approvals, new home purchases, and refinances
- Online application takes just minutes to complete and you’ll receive your approval in seconds
- Payment and closing cost details are provided up front, based on the product and rate options selected
- Mortgage insurance and escrow payments are shown in relation to total payment
- Specific components that comprise total closing costs are detailed
- Estimates for the amount of cash required at closing are provided
- Save your application to complete later, if needed
Information for New Members
If you are not already an HVFCU member, you may still apply for a mortgage; however, before the loan is finalized you will need to establish membership. You can establish membership at any of our branches by opening a savings account with as little as $5. (Please note: if you apply for a loan before establishing membership you are unable to open your membership online. Additionally, if your name only appears as a joint owner on another member’s account, then you are not yet a member of HVFCU. )
Rate Lock Disclosure
You may lock your interest rate, discount points, and term of loan at any time as described below up to seven business days prior to your closing. Changes to your interest rate, discount points, and term (including loan amount and mortgage type) will not be permitted once you have chosen a Rate Lock Option. If you do not notify HVFCU to lock your interest rate and term, you will receive the prevailing rate seven business days prior to your closing pursuant to the conditions above. You understand that interest rates and discount points are subject to change without notice and it is your responsibility to monitor HVFCU’s interest rates and loan terms during the period in which you choose to float.
If you choose to lock in your interest rate, you will be required to sign a Rate Lock Agreement. On signing, you agree to pay $600, which is refunded at closing. If a mortgage application with a signed Rate Lock Agreement is canceled at any time, the $600 is forfeited. In the absence of a signed Rate Lock Agreement you receive the prevailing rate seven business days prior to closing.
If you are applying for a Construction/ Permanent Mortgage, or have subject property that is new construction, you may choose to sign a Rate Lock Agreement either prior to the permanent loan closing, or prior to 100% completion of the construction for the subject property. Construction must be 100% complete prior to the signed Rate Lock Agreement expiration date. Extended rate lock options are available. Please inquire for further information.
Please be advised that the fee charged by HVFCU in connection with an appraisal of the property used to secure this transaction is NON-REFUNDABLE. Residential property values have experienced significant declines in recent years and may be subject to further decline. Any potential value discussed between you and HVFCU at or prior to the time of application for a mortgage should not be construed as a formal estimate of value for the property being financed. A formal opinion of value will be conducted by a professional appraisal firm which operates independently of HVFCU, and HVFCU employees are expressly prohibited from discussing or influencing the appraiser’s opinion of home values in any way.