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spokane home loans

we know it's what's behind the door that matters most.

Home loan financing and refinancing

Our home loan process is customized to fit your needs and we have some of the lowest home loan rates in Spokane! Whether you're a first time home buyer or looking for a home equity loan, our Real Estate Advocates, Renee, Leah and Jessica have fantastic home loan financing options for you. 

apply for your home loan now  home loan rates

jessica, renee, and leah. staff members at Canopy CU

Members with real estate loans who are experiencing financial hardship due to COVID-19 are encouraged to reach out to us to discuss their options.

Buying a home is one of the most significant purchases most of us ever make. We are here for you with a convenient and timely loan process to help you feel confident and informed the entire journey.

We have several options to help you out with real estate-related loans, including:

If you have questions about how this works, contact a loan officer today.

contact a loan officer today 

home equity loans 

You can now borrow up to 95% of your home's value!*

As the real estate market ebbs and flows, you might want to check up on your home's value to see if you've accrued equity. Utilizing your home's equity allows you to do things like create your own personal outdoor oasis, remodel your kitchen or perhaps pay off some nagging bills. Home equity loans differ from home equity lines of credit because they are set amounts that you pay down each month versus a line of credit you can use, pay down, use, pay down, and so forth. 

Let's make your dream home come true. Apply for a loan with us today!

apply for a home equity loan

Home loan calculator

Find out what your monthly payment will look like with our easy-to-use home loan calculator! 

free home buyer guide by canopy cu

This Home Buyer Guide provides you with helpful information to simplify the mortgage process and help you achieve your personal and financial goals. Click the image above to view the guide!


home equity line of credit

You can now borrow up to 95% of your home's value!*

Home Equity Line of Credit (HELOC) allows you to utilize the equity (value) of your home as collateral to receive a lower interest rate than a personal loan or credit card. This is a great option for financing larger purchases. Once you're approved for a HELOC, you can utilize the loan on your own time whenever and however you need it.  Apply online today!

apply for a heloc


home loan refinancing

You've had your house for a bit and notice home loan rates are lowering - could it be time to refinance?

Tips to know when to Refinance:

  • When you can secure a lower interest rate, especially if your rate is going to drop by 0.75% or more.
  • When you are able to shorten the term of your loan, especially by 5 years or more, which will lower the total interest you repay.
  • When it allows you to switch from an adjustable-rate mortgage (or ARM) to a fixed-rate mortgage to lock in a consistent payment and rate.
  • When you need to tap into your equity to consolidate other more expensive debt such as credit cards or personal loans.

refinance your home today


15-year home loans

Don't want a 30-year commitment? Check out our 15-year home loan option! We'll make the loan process easy so you can get to enjoying your new home. 

apply for a 15-year home loan   check out our rates


30-year home loans through Servion

You put a lot of thought into buying a house that you will be happy with for years to come. Our goal is to make sure you feel just as good with your mortgage decision, too. You can have the best of both worlds! Please complete our pre-application to get started.  

fill out our pre-application


Rental home loans

Are you looking to earn income from a rental property? Come see Canopy for your financing! We offer the following:

  • 15-year in-house financing apply now
  • 30-year rental home loans through our partnership with Servion fill out our pre-application
  • Refinancing options available with or without cash-out

Raw land loan 

This type of loan is for land that is in its most natural state, completely undeveloped without electricity, roads, sewers, etc. Financing this sort of land can be a less expensive option because there are no pre-developed or zoned areas. However, this type of land cannot be zoned for commercial use.

apply now 


Residential land loan

This loan is a great fit if you’re looking to purchase a plot of land intended to build your dream or vacation home. This type of land must be zoned for residential use, and be used for the future sight of your primary or secondary residence.

apply now 


Home loan FAQs

The information we require will depend on what type of loan you're looking for. In general, it's always best to be prepared with a copy of your driver's license, your two most recent pay stubs, and your two most recent months of checking/savings statements. Once we receive your application we'll let you know if we need any other information! 
Knowing how much you qualify for is crucial to your home-loan search! Getting pre-approved before starting your search will not only give you the total home loan amount you qualify for, but it also helps your negotiating power! In the pre-approval process, we'll determine how much you qualify for by taking a look at the following things: your income, existing debts, available down payment, the interest rate on the loan you qualify for, the cost of your potential property (if you have one in mind already), and taxes & insurance for that property. 
No! In fact, we encourage you to get pre-qualified for a home loan BEFORE you start your search. That way you know exactly what your price range is. 
You'll typically see two different rates when shopping for mortgages: an interest rate and an Annual Percentage Rate (APR). The interest rate is the cost of borrowing just the loan amount whereas the APR is the true cost of borrowing the funds and may have fees included. You'll want to base your decision primarily on the mortgage APR. 
Canopy requires appraisals for all home loan purchases, not necessarily for home refinances. An inspection is a good idea to identify the quality of a home or if any major repairs are needed but it is not a loan requirement. 
While we can't give an exact answer to this because each situation is different, we work hard to make the home loan process as quick and smooth as possible. We walk you through the entire home loan process up until closing. Often times what takes the longest is the appraisal and title search and we order these for you right away. 
A home equity line of credit or HELOC is a revolving line of credit that uses the equity of your home as collateral. HELOCs are most commonly used when you need access to your home's equity over the next six years. Whereas, a home equity loan is a close-ended loan. As you pay off a home equity loan, the balance decreases and you receive your funds when you are approved for the loan. Home Equity Loans and HELOCs can be used for home improvement, debt consolidation or other high costs like college tuition. 

 

*95% Loan to Value on 2nd position liens only and for qualified borrowers.

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