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Home Loans

When you're making the largest investment of your life, you want to do it right.

Personalized attention for every member throughout their home buying and remodeling journey.

Our friendly and knowledgeable staff will guide you through every step of the way, ensuring you make a sound decision.

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Cabrillo Credit Union Home Loans Rates

Local San Diego Service, with Competitive Rates


Personalized Assistance

We understand that a home isn't just a place to live—it's a canvas for your dreams. Whether you're looking to purchase a new home or enhance your current one through remodeling, our home loans are here to make your vision a reality. Our wide range of home loan options, including competitive fixed and adjustable-rate mortgages, provides flexibility to suit your unique needs.

Home Loan Options:

  • Fast and easy online application
  • Competitive fixed and adjustable rate mortgages (ARMs)
  • Refinance and cash-out loans
  • Low down payment loans
  • First-time homebuyer programs

Explore the endless possibilities of homeownership and remodeling with Cabrillo Credit Union's home loans. Your dream home is closer than you think, and we're here to help you achieve it. 


Mortgage Terms

Glossary of Mortgage Lending Terms

Looking to learn more about home loans and mortgage terms? Visit our glossary of mortgage terms to dive into our comprehensive glossary.


Types of Loans

Thirty-Year Fixed Rate

The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate

This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

Adjustable Rate Mortgage (ARM)

These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.


Purchase Basics

A home purchase is a significant financial transaction Here's some information to guide you through the process:

  • Count on your Real Estate Agent to:
    • Select homes that meet your criteria.
    • Determine the difference between a good buy and an overpriced property.
    • Negotiate the best deal, especially with a pre-qualification letter from us.


  • Count on Yourself To:
    • Keep your Real Estate Agent informed.
    • Provide required documentation promptly.
    • Stay objective and make informed decisions.
    • Get pre-approved early to focus on home selection.


Mortgage Checklist

The following information is usually required during the loan process:

  • Pay stubs covering most recent thirty days
  • Copy of current government-issued ID (driver’s license, passport, etc)
  • W-2 statements covering the past two years
  • Bank statements covering the most recent two months (with all pages)
  • 401K, IRA, or Mutual Fund accounts showing most recent transaction summary
  • Stocks or certificates of deposit (copies)
  • Purchase and sales agreement (copy)
  • 12 months cancelled rent checks or the name and address of your current landlord (if applicable)
  • Fully executed divorce decree (if applicable)
  • Deed, hazard insurance policy, and most recent tax bill if you are refinancing (copies)
  • A letter explaining any known credit problems or fluctuations in income

If you are self-employed, paid by commission, or own real estate used for rental purposes you will need to produce:

  • Two years signed personal federal income tax returns including all schedules
  • If self-employed through a corporation, the last two years' corporate returns as well as a year-to-date profit and loss statement and balance sheet
  • If additional information or documentation is requested, please provide it immediately.

The following information is usually required during the loan process:

  • Two years of signed personal federal income tax returns, including all schedules
  • Most Recent 1099’s (if applicable)
  • Most Recent Pension or Social Security Awards Letter


How to get a Loan

Process and Approval

Qualification for a mortgage loan is based on the ability to make monthly payments (assuming the minimum down payment requirement and closing costs’ are covered).  Consideration is also given to your credit history, household income and the appraised market value of the home you are purchasing, or the refinancing of your existing mortgage. 

Determining What You Can Afford

With the many alternatives in today’s housing market, it is best to identify the price range appropriate to your financial situation.  For help determining how much you can afford, contact TruHome Solutions mortgage department at (913) 981-0311 or toll free at (877) 512-3318.

Home Loan Information 

The Loan Process

The time period following the submission of an application can be an anxious one.  It may help you to know the many details that require attention and take what can seem like a long time.

After we receive a completed application package, we will have the property appraised, verify your employment, verify your deposits and order your title commitment..  Upon receipt of these items, your loan officer will review your loan.  If everything is in order, we can then prepare the loan for commitment. 

Once you accept the commitment and all the conditions have been met, a closing can be scheduled.  Prior to the closing, a survey and inspections of the property may be required.  The loan process usually takes 60 days from start to finish.

Apply for the loan

Fill out the quick and easy approval home loan application, or give us a call at 844.884.9725.

Easy Home Loan Application

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