Home Equity Line of Credit (HELOC): A home equity line of credit is different from a second mortgage. Instead of receiving the approved sum up front you can borrow the money as you need it. Like a credit card you can continually borrow money but typically at a lower interest rate.
Fixed Rate 2nd Mortgage: A fixed rate 2nd mortgage is great for projects when you know exactly how much money you will need. You will receive funds in one lump sum, with the comfort of knowing your rate will remain the same for the duration of your loan.
Search for a home using our Home Finder tool. The Home Finder site specializes in assisting buyers and sellers all along Utah's Wasatch Front. Cyprus CU Home Finder contains ALL listings from ALL Real Estate Agents in the State of Utah.
Documents that you will need to apply
Please provide the following items to help us expedite your loan request. Information must be must be the most recent, consecutive and computer generated.
One month of pay stubs
Last two years of W-2’s
Last two years of tax returns and schedules
Last two months of bank statements for all accounts listed on the loan application (must be official statements not account history, printed eStataments will work)
Additional items needed if applicable
If purchase mortgage please provide a copy of the sales contract
If self-employed or owner of an LLC or corporation please provide 2 years of
business returns or 1120 S cooperation tax return and K-1’s Divorce Decree
If a bankruptcy, foreclosure, loan modification or short sale has occurred in the
last 7 years please provide the appropriate documentation.
Home Equity Loans
Most recent W-2 and paycheck stub
Two years of tax returns (if self-employed)
A current statement showing the balance of your first mortgage (if applicable)
Our mortgage advisors are happy to answer any questions you may have or provide advice on the home financing process. Contact our team at 801-260-7600 ex. 5340 or feel free to reach out to any advisor below.