Routing #: 281581144 • Wire Instructions
Routing #: 281581144 • Wire Instructions
You can apply for an auto, recreational vehicle, line of credit, and a signature loan by clicking here.
You can apply for a home loan or a home equity line of credit.
To proceed with your loan application, please provide the following documents for each individual involved in the loan:
1. Preapproval: Even before you start looking at homes, the first step in the mortgage process is getting a preapproval letter from a lender, which provides documentation of how much money you're eligible to borrow.
2. Home Search: Once you have your preapproval letter, work with your real estate agent to find a home.
3. Processing: Your Loan officer will then prepare and submit your mortgage application for final review and approval. You may be asked to provide additional information. During this time, your appraisal will be ordered for the home you're hoping to buy.
4. Closing: The last step in the mortgage process is closing. This is where you assume ownership, your loan is funded and you get the keys to your new home.
With a fixed-rate mortgage, your interest rate stays the same for the life of your loan. With an adjustable rate, your loan begins with a fixed rate for a specified period of time and then adjusts higher or lower based on the 11th District Cost of Funds Index.
An interest rate is the cost you pay annually to borrow money, expressed as a percentage of your total loan. In contrast, APR includes the interest rate plus other costs, such as mortgage insurance, discount points and some closing costs and loan origination fees.
Closing costs can vary depending on the lender but typically include appraisal fees, title insurance fees, prepaid interest, documentation fees, and more. You will receive an estimate of closing costs before finalizing the loan.
No, you do not need to be a member to apply for a loan; however, you will have to join Ozark Federal Credit Union if you are approved.
