Homeownership is more affordable than you think!
BCU Mortgage offers a wide variety of different loan programs. Let our Mortgage Department help you find the loan program that fits your needs.
- Refinance your Home
- Conventional Home Mortgage Loans
- FHA Loans
- VA Loans
- Home Equity Loans
Baptist Credit Union offers competitive Home Equity loans that allow you to borrow against the equity of your house. For over 50 years, Baptist Credit Union has been a resource for interest-wise loans designed to benefit the homeowner. As a state-chartered credit union, our Home Equity Loans are exclusively for realty within Texas and are governed by state laws pertaining to home equity loans.
Summary of Applicable Texas Law:
- Texas Home Equity loans are limited to 80% of the appraised value of the house, less any existing loans against the house (mortgage and/or home improvement).
- Texas has a 12-day cooling-off period. From the day you apply and proper disclosures are issued, the note may not be signed until 12 days later.
- From signing, the borrower has three business days to change their mind.
- When Home Equity is used for loan security, the homestead is then subject to foreclosure in cases of default. So, borrow with purpose.
- The law allows for only ONE Home Equity Loan per year. Even if it’s paid off, once a year is the limit. That’s another reason to carefully consider whether it’s the right loan for you at this time.
Member will be required to pay for Closing costs and Appraisal if needed. The Documents Needed to Process Your Loan are:
- Completed Application
- Proof of Income
- Copy of Deed of Trust
- Balance from Mortgage Company (Statement copy is acceptable)
- Tax Appraisal
- Insurance Policies
To pre-qualify or begin the process, click here, or contact our Mortgage Department today by calling (210) 525-0100 ext 217 or visiting our Main branch.
- HUD's Good Neighbor Next Door Program
Baptist Credit Union
5815 IH 10 West, SAN ANTONIO, TX 78201
Phone: 210-525-0100 ext 217
Email: [email protected]
USA Patriot Act: Federal law requires that we obtain, verify and record information that identifies each person who opens an account or requests a loan, including joint owners/applicants. Within this application, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Approval of your application may be delayed pending further verification of your identity.
Consumer Reports: By submitting an application, you authorize Baptist Credit Union to obtain a consumer credit report to evaluate your creditworthiness so that you may be considered for other BCU products and services. You also authorize Baptist Credit Union to obtain consumer reports to evaluate the membership application and review any Baptist Credit Union accounts you open. You understand these reports may be used in decisions to deny account applications, close accounts, and/or restrict accounts or services.