Spokane
Home Loans
We know it’s what’s behind the door that matters most.
home loan financing and refinancing 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!
navigate between different loan types
home equity loans
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 line of credit
A 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!
home loan refinancing
Refinancing your home loan can be a strategic move to lower your monthly payments, reduce your interest rate, or access cash for major expenses like home renovations or to pay down other debt.
rental home loans
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.
raw land loans
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.
residential land loans
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.
available mortgage terms and rates
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. We offer a number of fixed-rate home loans, including 15-year home loans and 30-year home loans.
home loan calculator
Find out what your monthly mortgage payment will look like with our easy-to-use home loan calculator! If you’re not sure which loan term to choose or how your monthly payment might impact your debt-to-income ratio, our mortgage lenders can help. Contact our local Spokane home loan team for personalized assistance.
- Ready to get started?
Our Home Buyer Guide is packed with helpful information geared toward simplifying the mortgage process and helping you achieve your personal and financial goals.
hear what our
happy homeowners have to say!
If you need anything Mortgage related, talk to Renee. Extremely knowledgeable and helpful in all aspects of purchasing a home. Highly recommend using Canopy and their team.
– Seth S. | ☆☆☆☆☆
Leah absolutely killed it! She under-promised and overdelivered every step of the way. I can’t believe how smooth this process went for opening up a HELOC. I strongly encourage anyone to work with this credit union, and specifically Leah! Thank you so much! You are a legend.
– Stephen M. | ☆☆☆☆☆
Canopy CU is a financial institution that feels like family. Rich Jones was awesome to work with. He offered some solid advice and is genuinely interested in our financial journey and helping us reach our goals. They also have great products and local decision-making. That’s huge.
– Kris F. | ☆☆☆☆☆
home financing FAQs
We’re here to take the guesswork out of the home buying process. Whether you’re seeking a first time home loan or are just browsing your options, we have answers to the most commonly asked questions about home financing. If you don’t see an answer to your question below, contact our local Spokane home loan team for personalized guidance.
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 Credit Union 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. Oftentimes what takes the longest is the appraisal and title search and we order these for you right away.
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