Close on Your Home Loan in 30 Days or less with Raiz FCU
Our mortgage experts make it simple and fast — so you can move into your dream home sooner.
NMLS ID: 247953
NCUA Insured
Local reliable experts
Trusted by 76,000+ members in El Paso
Estimate Your Payment
Calculate your estimated mortgage rate and monthly payment!
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Homeowners Insurance: 100
Mortgage Insurance: 167
Our Mortgage Loan Options
Conventional Mortgage Loan
Are you a first-time home buyer, or simply looking to finance a new home? A Conventional Mortgage Loan from Raiz is the solution you’ve been searching for!
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Construction Loan
Customize or build and customize your dream home with convenient in-house lending and one-time closing so you can seamlessly move from construction to permanent financing.
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Apply Online
It takes only minutes to fill out the online application.
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Get Approved
We'll crunch the numbers and let you know if you're approved.
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Buy Your New Home
Use the funds to purchase the home of your dreams.
Built on Local Trust
I never dread going to Raiz Credit Union to take care of business; the lobby is so welcoming, even offering drinks and snacks, and the wait period is always minimal. Their service is excellent; every issue I have ever had has been resolved quite quickly and in my favor. I have been a client for over thirty years and I have always been a satisfied customer.
Have been with the credit union for 30 years. Still satisfied with their service. Outstanding, everyone is so helpful. I would recommend them to anyone that needs a Credit Union.
The customer service was exceptional. They answered all my questions and helped me find the perfect loan terms for my budget.
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We have options to fit different needs. Fixed-rate loans keep the same rate for the life of your loan, adjustable-rate loans start lower and can change over time, FHA and VA loans are available for qualified borrowers, and jumbo loans are for bigger purchases. Not sure which is right for you? We can help you figure it out.
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Most closings take between 30 and 45 days once you have found a home and provided the required paperwork. We will keep you updated so you know exactly where things stand.
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It depends on the type of loan. Some programs allow as little as 3 percent down. If you can put 20 percent down, you can avoid private mortgage insurance (PMI). We will walk you through your options so you can choose what works best for you.
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Pre-qualification is a quick check based on the information you share about your finances. Pre-approval goes deeper. We verify your details and give you a letter that shows sellers you are ready to make an offer. Think of pre-qualification as getting an estimate and pre-approval as being ready to buy.
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Private Mortgage Insurance, or PMI, protects the lender if you stop making payments. Most borrowers need PMI if their down payment is less than 20 percent. The good news is that you can usually remove it once you have enough equity in your home.
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Your credit score helps determine your interest rate. A higher score usually means a lower rate. Even if your score is not perfect, we can help you find the right loan program and guide you through the process.
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The interest rate is the cost of borrowing the money. The APR includes your interest rate plus certain fees, giving you a clearer picture of the total cost of the loan.
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Yes. You will just need to provide a bit more documentation, such as tax returns, profit and loss statements, K1 statements, and or bank statements. We work with many self-employed borrowers and will help make the process as smooth as possible.
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Closing costs are the fees you pay at the end of the loan process, including things like appraisals, title insurance, and lender fees. They usually range from 3 to 5 percent of the home’s price. We will go over the details with you upfront so there are no surprises.
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A rate lock keeps your interest rate the same while your loan is being processed, usually for 30, 45, or 60 days. It can be a smart move if rates are rising before you close.
Why Thousands Trust Us with Their Home Loans
Customizable loan options tailored to your needs.
Expert guidance from our experienced mortgage team.
Dedicated support from application to closing.
Why Choose Raiz?
Our financial experts are some of the best, but really our motivation is you. Here is what we are doing to today to reach a brighter tomorrow.
Where Your Money Grows
You put in the effort – your money should too. With high-dividend checking, competitive loan rates, and strong savings and retirement options, our innovative products are designed to help you get more out of every dollar.
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24/7 Access and Support
Your money never sleeps, and neither do we. Raiz members have 24/7 access to digital banking and an online support chat available to help with all your banking needs.
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Free Online Courses
We don’t just want to help you manage your money, we want you to thrive! Raiz provides free, award-winning online courses that cover an array of topics for every stage of your life. Start your financial journey today.
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Community Dedication
Rising up our community is what drives us forward. We dedicate our time, funds, and resources to organizations and initiatives that are committed to making a difference.
Learn moreRaiz Preferred Realtor Program
Boost your career, serve your clients better, and grow with us!
Visibility and Connection – Network in new spaces and received exclusive invites to quarterly events with our mortgage department and community partners.
Shine bright – Step into the spotlight! Raiz celebrates you by highlighting your achievements with our network of 55,000+ people.
Simplify the Homebuying Process
Purchasing a home is a big deal. Likely one of the most expensive purchases you can make! Get your mortgage loan from the experts at Raiz and benefit from local knowledge and lower rates compared to many other financial institutions.
Have a question?
We’re happy to help you every step of the way!
Chat with us
Start live chatChat live with a team member who can quickly help answer your question.
Meet with us
Schedule an appointmentSchedule a virtual or phone appointment convenient for you, and let us help you get to the next financial level.
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.
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