Home Loans

20 and 30 year first mortgages

At White River Credit Union, we keep your loan home sweet home. Friendly, experienced staff will ensure the entire home loan process is smooth, efficient, and hassle-free. And most importantly, local!

What else should you consider?

20 v 30 Year Fixed Mortgages…which to choose?

“The one that fits you best” is too simple an answer to be useful but, with White River Credit Union as their key financial partner, members often find it simple to achieve.

What is a fixed-rate mortgage vs. a variable rate mortgage?

Fixed-rate mortgages are just what they say, a home loan in which you and the lender agree on the interest rate by contract and it doesn’t change for the life of the loan. By contrast, a variable-rate mortgage has built-in flexibility, the lender adjusts the rate at predetermined periods based on outside factors which can work in the borrower’s favor or not.

Home equity line of credit

Need funds for a home improvement project, debt consolidation or other major expense? Use funds that are secured by the equity you’ve earned in your home. Offered as a first or second lien — White River Credit Union offers Home Equity Lines of Credit (HELOCS). HELOCS and the interest you pay may be tax-deductible (consult your tax advisor). This is an interest-only payment for 5 years.

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What else should you consider?

Home Equity Loan or Home Equity Line of Credit (HELOC)?

Second mortgages come in two basic forms: home equity loans and home equity lines of credit, or HELOC. They typically offer higher interest rates than primary mortgages because the lender assumes greater risk – in the event of foreclosure, the primary mortgage will be repaid before any seconds.

However, because the loan is still collateralized, interest rates for second mortgages are usually much lower than typical unsecured debt, like charge cards, credit cards, and consolidation loans.

The other major advantage of second mortgages is that at least some of the interest is, for borrowers who itemize, tax deductible. To receive the full tax benefit, the total debt on your home, including the home equity loan, cannot exceed the market value of the home. Check with your tax advisor for details and eligibility.

Looking for a new home?

We can help! Whether you’re a first time homebuyer, are looking to downsize, or you’re ready to buy that vacation home you’ve been looking for, we are ready to help you get the financing you need.

We’ll provide you with:

• Responsive service and personalized guidance
• Competitive rates and low closing costs
• Support through the entire home buying process

Ready to make your home ownership dreams a reality? Call our mortgage department at (360) 825-4833 ext. 4 or send us an email at loans@whiterivercu.com.

Use non-WRCU cards to make a WRCU loan payment or deposit

Send check via snail mail to PO Box 35 Enumclaw, WA 98022-0035

Electronic payments

• Call us at (360) 825-4833 option 6 then 4
• Recurring payments from another financial institution (free)

One-time payment from another financial institution (fees apply)

VISA Debit/Credit (fees apply)

Bill Pay

Make a payment at the Credit Union (we love seeing our members!)

Transfer from your White River Credit Union account

Use the form in the Make a Payment link below (fees apply)