A mortgage pre-qualification is a loan originator's opinion of the mortgage amount for which you qualify. This is typically done without any income or asset verification or credit check. A pre-approval goes a step further and provides you with a certificate and a letter stating that a mortgage underwriter has reviewed your income, asset documents and credit report. The pre-approval certificate is often helpful when you negotiate for your home purchase. Connection offers both a pre-qualificat  More...

At this time, we offer home equity and mortgage loans in the State of Washington.

First and second position options with terms up to 30+ years available through credit union partners. A variety of fixed and variable rate options depending on LTV. Click here for current rates and terms

Members often request or are required to have Connection collect additional funds with their mortgage payments to cover their property taxes and/or homeowners insurance. In those cases, the additional funds are deposited into an escrow account. When the member's tax and/or insurance bills come due, Connection pays them out of the escrow account. For more information on our mortgages select the Mortgages link below or Contact Us with any questions.

Real Estate Settlement Procedures Act (RESPA) is a federal law that, in general, dictates how lenders establish and maintain an escrow account for you. A few states also have regulations regarding an escrow account for a homeowner within their state; if the state does not have a regulation, the governing of your escrow account falls back to RESPA regulations.

Depending on your loan program and state restrictions, your monthly mortgage payment may or may not include funds to pay your property taxes. If your payment includes money for property taxes these funds are held in escrow by the lender and the lender pays your property taxes as they are due. If your payment does not include property taxes, you are responsible for paying them by the due date.

Once the escrow analysis is performed the escrow overage check is mailed within 10-14 days.

In a refinance transaction your current mortgage is paid off and a new mortgage is recorded. For this reason many of the same items paid when you purchased the home will apply with the refinance as well. Closing costs can be divided into three main categories: Lender Fees – Connection has very competitive lender fees. Lender fees include origination, points, application, credit report, appraisal, etc. Third Party (Title/Escrow) Fees - These fees vary by state and the actual company you sel  More...

The following states have these types of supplemental taxes: Calif., Ohio, Va., Idaho, Nev., Conn. (called C/O or certificate of occupancy bills), N.J. (added assessments) and Pa. (interim bills). However, we do not pay occupational taxes given to homeowners in Pa.

We typically draft from checking or savings accounts. However, we can draft from any account providing your banking authority allows it. Please refer to your banking authority.