National Mortgage Licensing System
cPort Credit Union Nationwide Mortgage Licensing System ID: 409174
Frequently Asked Questions on Credit Union Mortgages
The specific amount of your closing costs vary by situation. Appraisal fees, title charges, closing fees may all vary from state to state and also from lender to lender. To evaluate your closing fees, we've created three categories of which you should remain aware:
- Third party fees
- Taxes and other unavoidable costs
- Lender fees
Third Party Fees
- Appraisal fee
- Credit report fee
- Settlement / closing fee
- Survey fee
- Tax service fee
- Title insurance fee
- Flood certification fees
- Courier / mailing fees
We collect any third-party fees and pass them on to the person who actually performed the service.
Taxes and Other Unavoidable Costs
- State/Local Taxes and
- Recording fees
These fees will most likely have to be paid regardless of the lender you choose. If some lenders don't quote you fees that include taxes and other unavoidable fees, don't assume that you won't have to pay it. It probably means that the lender hasn't done the research necessary to provide accurate closing costs.
Lender Fees
- Points
- Document preparation fees
- Loan processing fees
These fees are retained by the lender and are used to provide you with the lowest rates possible. This is the category of fees that you should compare very closely from lender to lender before making a decision.
Please note, this may not be an exhaustive list.
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
Mortgages are bought and sold by investors on the Secondary Market. Rates are determined by the amount an investor will spend on your mortgage.
For our most current mortgage rates, visit our Rates page.
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
To calculate the cost of refinancing your first mortgage use one of our Financial Calculators or speak with one of our Mortgage Advisors for professional assistance.
Need help with Financial Counselling?
cPort Credit Union is happy to to provide counselling through a Financial Planner to help with a variety of things such as:
- Financial planning
- Investment analysis
- Asset management
- College planning
- As well as any and all help for you and your business
You may also need:
Yes! We currently offer VA and FHA loans through our mortgage partner, Servion.
Speak with our Mortgage Advisors today for professional advice and learn more about our loan options!
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
A mortgage is a loan to finance the purchase of your home. When you close on a mortgage, your home becomes collateral for the loan. You will be required to sign a legal contract stating that you promise to pay the debt, including interest and other costs, typically over the course of 15 to 30 years.
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
Yes, there are closing costs associated with a Home Equity Line. For more information and to discuss your options, reach out to one of our Member Service Representatives.
Renovate your home today!
- With a Home Equity Loan from cPort, you can:
- Repair or make improvements to your house
- Take on a DIY project for your bathroom or kitchen
- Landscape the yard or add a pool
- Start your own business
- Consolidate debt
- Pay for medical expenses, emergencies, or big-ticket items
- And more -- just ask!
You may also need:
Unfortunately we do not offer a service to notify you when rates have changed. To keep up-to-date on our changing rates, please keep an eye on our Mortgage Rates page.
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
An escrow account is established as a convenient way to manage property taxes and insurance for your home. Sometimes referred to as an "impound account", escrow accounts allow you to make one monthly payment, instead of paying individual bills when they are due.
A portion of your monthly mortgage payment goes directly to your mortgage (principal and interest) and the remainder is allocated to your escrow account to cover property taxes and insurance. When the individual bills are due, your lender will pay them with funds from your escrow account.
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
If your loan is set up with an escrow account, the credit union will obtain the property tax bill from the government.
If your loan is approved with you paying the taxes yourself, you will need to provide a copy of the paid tax bill annually to us. At the following address:
50 Riverside Industrial Parkway
Portland, Maine 04103
We offer a wide range of mortgage options to fit your needs and lifestyle:
- First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
- Fixed rate mortgages with terms from 5 to 30 years
- Adjustable rate mortgages (ARMs)
- Land loans
Check out our rates and apply today!
You may also need:
If you elect to escrow your property taxes, you will make monthly payments and the credit union will pay your taxes on your behalf.
If you do not escrow the property taxes, then you are responsible for making the property tax payment when it comes due.
What is an escrow account?
- An escrow account is established as a convenient way to manage property taxes and insurance for your home. Sometimes referred to as an "impound account", escrow accounts allow you to make one monthly payment, instead of paying individual bills when they are due.
- A portion of your monthly mortgage payment goes directly to your mortgage (principal and interest) and the remainder is allocated to your escrow account to cover property taxes and insurance. When the individual bills are due, your lender will pay them with funds from your escrow account.
Need help with Financial Counselling?
cPort Credit Union is happy to to provide counselling through a Financial Planner to help with a variety of things such as:
- Financial planning
- Investment analysis
- Asset management
- College planning
- As well as any and all help for you and your business
Get Started Today with your Mortgage!
Give us a call at 1-800-464-0253 or fill out our online mortgage application.