We make home mortgage loans only on completed houses that will be the primary residence of the borrower.

The borrower initiates the loan process with the loan application. The Credit Union orders the credit report, appraisal and verifications once the loan application is submitted.

We usually do not collect any funds for these expenses until the loan is closed. At loan closing, title charges, attorney's fees, and recording fees are collected. Everything is usually ran through the title company's books since all of our loans are closed at a title insurance company.

Closing costs and pre-paid items are roughly figured as a percentage of the loan amount. On the average, you can figure about 2% of the loan amount. EPB Employees Credit Union does not charge any "points" or origination fees.

We can make real estate secured mortgages only on property that you plan to reside. We are unable to make loans for commercial purposes, such as: rental, second homes, business, and development.