BECU allows an individual to seek the mortgage rates for a home by entering their financial situation with the Loan Consultant Page. It provides a comprehensive breakdown of the applicant’s situation and suggests what might be the best option for obtaining a loan on a new home.
How to Find Rates
Step 1 – Go to Loan Consultant Page
Step 2 – Enter the following personal information;
- Loan Purpose – Is it for a Purchase or a Refinance?
- Click on Conventional (Not insured by the federal government) or FHA (Not insured by the Federal Housing Administration and requires as little of a downpayment as 3.5% but the purchase price is restricted)
- Cost of New Home ($)
- Down Payment
- Closing Costs Paid by Seller
- Your Credit; Select from;
- Excellent
- Good
- Average
- Below Average
- Poor
- Or type in your Credit Score Number
- Answer the following question
Do you currently have a Home Equity Loan or Line of Credit that will remain or will you be obtaining one during this mortgage transaction?
Step 3 – Enter the following property information;
- Type of Property;
- Single Family/Detached
- Attached/Townhouse
- Detached Condo
- High-rise Condo (5 or more stories)
- Land
- Low-rise Condo (1 to 4 stories)
- Manufactured Home (Double-wide)
- Manufactured Home in a Condo
- Manufactured Home Multi-wide
- Manufactured Home Single-wide
- Planned Unit Development
- Property is for the following use;
- My residence
- Second (2nd) residence/vacation home
- Investment home/rental property
- Located in the Following State (Only the following qualify);
- Arizona
- California
- Illinois
- Kansas
- Missouri
- Oregon
- Pennsylvania
- Washington State
- Select the County
Click on the Find Rates button on the bottom of the page and the rate will be shown on the next page.
BECU Mortgage Calculators
- How Much Can You Afford Calculator
This is determined by the amount of income the person makes per year and how much they are willing to pay for the down-payment.
Home Affordability Calculator
- How Much Income Do You Need to Make Calculator
Determines how much income the applicant needs to make in order to qualify for a home mortgage amount.
Income Needed to Purchase Calculator
- Monthly Payment Calculator
Determines how much the monthly payment will be after inputting the new home price and the down-payment percentage (%).
Monthly Payment Calculator
- Should I Rent or Buy Calculator
Calculates if the applicant should purchase the property or continue renting. The following must be entered
- Current Rental Payment
- Loan Payment
- Loan Term
- Interest rate (%)
- Annual Property Taxes
- Annual Homeowner’s Insurance
- Income Tax Rate
Rent vs Purchase Calculator
- Pre-Qualify Calculator
Input the applicant’s financial information in relation to the following variables;
- Loan Product
- Product Price
- Down Payment
- Monthly Income
- Monthly Debt Payments
- Balances on All Credit Cards
- State the Property is Located
Prequalify Mortgage Calculator