Colorado Home Loans And Mortgage Options | Buying Your Next Home

Frequently Asked Questions

What kinds of home purchase loans does On Tap Credit Union offer for repeat homebuyers?

On Tap offers conventional mortgages, jumbo loans for higher-priced homes, and financing for second homes, condos, or eligible investment properties. Our loan team helps you match your situation to the mortgage that fits your goals and budget. 

How can I find out what I can afford before I go house-hunting again?

Start by getting pre‑approved. On Tap’s pre‑approval process reviews your financials so you'll know your budget and loan eligibility before shopping which strengthens your position when making offers.

Can On Tap finance second homes, condos, or investment properties - not just primary residences?

Yes. On Tap’s home purchase program allows financing for second homes, condominiums, and qualifying investment properties, depending on loan eligibility and property requirements.

Can I get help with down payment or closing costs even if I’m not a first-time buyer?

Potentially, yes!  There are several down payment grants and assistance programs for buyers at any stage. This help can lower your upfront costs and make moving into a new home more achievable. 

How does pre‑approval work and why is it important?

Pre‑approval involves reviewing your income, debts, and credit to estimate how much you qualify to borrow. With a pre‑approval letter, you know your budget and have stronger negotiation power when making offers. 

Do interest rates change while I’m shopping for a home?

Yes, interest rates fluctuate regularly. On Tap cautions borrowers that the rate shown initially isn’t locked until you submit a full application and go through underwriting. It’s smart to lock in your rate once you’re under contract. 

Do I need to be a member of On Tap Credit Union to apply for a mortgage?

Yes, membership is required to apply for any mortgage loan. If you’re not already a member, we will complete the credit union membership process together as part of the application before your loan can close.