Not at all — getting a mortgage through a credit union like Columbia Credit Union is often easier. We take the time to understand your needs and offer flexible financing options with low credit union home loan rates. Our dedicated team will be with you every step of the way to ensure a smooth mortgage process so you can spend more time enjoying Mount Hood and the Columbia River Gorge instead of stressing over your mortgage.

While a credit score of 650 or higher is preferred for most conventional loans, we offer a variety of loan types for a wide range of credit profiles. Our local mortgage experts will work with you to find the right fit.

Yes, credit union home loans typically include FHA loans to make homeownership accessible to more members. Backed by the Federal Housing Administration, FHA loans are ideal for first-time buyers or those with lower credit scores or smaller down payments.

Most mortgage approvals take 30-45 days from the application to the closing. It may vary depending on factors like the type of loan, how quickly you submit required documents, the property appraisal timeline, and how fast third parties, like title companies or inspectors, complete their work. We’ll keep you updated at every step.

With a fixed-rate mortgage, your interest rate and monthly payments stay the same for the life of the loan, making it easier to budget long-term. An adjustable-rate mortgage (ARM), on the other hand, typically starts with a lower annual percentage rate (APR) for an initial period, then adjusts periodically based on market conditions. 

A fixed-rate loan may be a good option if you are looking for a rate lock to protect you from future rate increases. An ARM may be a good option if you expect to move, sell, or refinance before the initial fixed period ends, and want to take advantage of the lower starting rate.

Yes, we’ll be glad to do a preliminary review of your finances and give you an estimate of how much you qualify to borrow. Pre-approval shows sellers you’re a serious buyer, and it can also give you an edge in a competitive market.

Private mortgage insurance (PMI) is a type of insurance that protects the lender in case you stop making payments on your loan. It’s required if your down payment is less than 20% of the home’s purchase price. PMI can typically be cancelled after you have 20% equity in your home. Some types of mortgage loans don’t require PMI, like VA loans.

Columbia Credit Union membership is open to individuals and businesses in Washington State and in the Oregon communities of Clackamas, Marion, Multnomah, and Washington Counties (and to families of eligible individuals).