REAL ESTATE LOANS

What is a Deed of Trust?
The document creating a lien on a property as security for the payment of a debt. In some states, a Mortgage is used instead.
Thu, 23 Feb, 2023 at 11:11 AM
How do I increase the credit limit available on a Home Equity Line of Credit (HELOC)?
To increase a HELOC line amount you may call the Member Service Center at 559-437-7700 or 1-800-538-EECU, and select the consumer lending/HELOC option. An u...
Mon, 24 May, 2021 at 12:42 PM
What is a Fixed-Rate Mortgage?
A mortgage whose interest rate does not change for the life of the loan. Typically payments are also fixed through the entire term.
Thu, 23 Feb, 2023 at 11:10 AM
How does my new lender request the credit union to subordinate their current lien position to the other lender’s loan?
Contact the Member Service Center to request A Signed Request for a Subordination-Real Estate Secured/Unsecured Transactions form. This can be mailed or fax...
Thu, 23 Feb, 2023 at 11:14 AM
What is a Home Equity Line of Credit?
A Home Equity Line of Credit also known as a HELOC is a secured line of credit that uses your home's equity. When you get a Home Equity Line of Credit y...
Thu, 23 Feb, 2023 at 4:26 PM
How is my final mortgage rate calculated, and when is that rate confirmed?
Interest rates fluctuate daily, so the rates available when you apply may be different than the rates available when you decide to lock your interest rate. ...
Thu, 23 Feb, 2023 at 12:29 PM
What is a Mortgage Broker?
A person or entity that arranges financing for borrowers, but places loans with lenders rather than funding them with the broker's own money.
Thu, 23 Feb, 2023 at 12:30 PM
How often can the interest rate change on a Home Equity Line of Credit?
The interest rate may change four times a year on a Home Equity Line of Credit. The rate for EECU's Home Equity Line of Credit changes on the first day ...
Thu, 23 Feb, 2023 at 1:09 PM
What is a Mortgage Note or Loan Agreement?
It is a legal document obligating a borrower to repay a loan at a stated interest rate during a specified period of time. The agreement is secured by a deed...
Thu, 23 Feb, 2023 at 1:10 PM
I am selling or deeding off an unimproved portion of my property. How can I get part of my property released?
This situation most often occurs during the process of eminent domain, such as when the city or county is improving an intersection and a portion of your pr...
Thu, 23 Feb, 2023 at 1:15 PM