Randolph Brooks Federal Credit Union Mortgage Review

Randolph-Brooks Federal Credit Union (RBFCU) was founded in 1952. Headquartered in Live Oak, Texas, RBFCU is one of the nation’s largest credit unions, although it began with just $45 in deposits. The credit union now has more than half a million members and carries $6 billion in assets.

In 1995, RBFCU merged with Central Texas Catholic Credit Union. RBFCU’s mortgage options include conventional fixed-rate and adjustable-rate mortgages, FHA, VA, and Construction and Land loans.

RBFCU Background

RBFCU started in 1952 with just $45 in deposits. Initially, the credit union’s name was Randolph Federal Credit Union but was later changed to Randolph-Brooks Federal Credit Union. In 1995, the credit union merged with Central Texas Catholic Credit Union, helping it grow to represent a more substantial part of Texas.

The credit union gained several branches and even added branches in retail stores with the new merger. Now one of the country’s largest credit unions with half a million members and $6 billion in deposits, RBFCU continues to serve several large Texas metro areas: Dallas, San Antonio, Austin, and Corpus Christi. Members must live, work, or worship in these areas or be members of specific groups to join. 

The lender is somewhat flexible with loan options and qualification terms. RBFCU is also very diligent about making sure borrowers are educated on their mortgage options, offering online checklists and tools to make sure applicants have the guidance they need.

Borrowers can estimate their home mortgage expenses and determine what they will need for documentation, too. RBFCU provides in-branch help with mortgage applications, although applicants can apply online as well. 

Currently, RBFCU is not on Trustpilot. The lender’s BBB rating is A+ with an average of 1/5 stars from customer reviews.

Randolph-Brooks Federal Credit Union (RBFCU) was founded in 1952. Headquartered in Live Oak, Texas, RBFCU is one of the nation’s largest credit unions, although it began with just $45 in deposits. The credit union now has more than half a million members and carries $6 billion in assets.

In 1995, RBFCU merged with Central Texas Catholic Credit Union. RBFCU’s mortgage options include conventional fixed-rate and adjustable-rate mortgages, FHA, VA, and Construction and Land loans.

RBFCU Mortgage Rate

Randolph Brooks Federal Credit Union Mortgage Specifics

Fixed-Rate Loans

A fixed mortgage loan from RBFCU has consistent rates throughout the life of the loan, so borrowers can count on consistent mortgage payments until their loan is paid off. This makes it easier to budget. Of course, if rates go up, the loan’s fixed-rate remains the same.

This option may be best for applicants who plan to stay in their home for several years and lock-in a low-interest rate. For a conventional loan, 20 percent down is typical.

Adjustable-Rate Loans

Adjustable-rate mortgages have rates that are subject to change along with the market rate. This means the loan’s rate can go up or down, and borrowers could end up paying more for a home than they expected. Rates may also decrease, though, and usually start at a low rate at the beginning of the loan. Applicants who think they will sell soon or refinance may benefit the most from an adjustable-rate mortgage.

FHA Mortgage Loans

Getting a government-backed FHA mortgage loan from RBFCU may allow borrowers to qualify for lower down payments and low monthly payments when compared with a conventional loan. Applicants who meet income qualifications may pay as little as 3.5 percent down on an FHA loan.

VA Loans

For applicants with ties to the military, the VA loan may be a good option. VA loans are available to veterans, members of the armed forces, and surviving spouses. The VA guarantees these, so lenders like RBFCU may be able to provide more favorable terms than would otherwise be available to borrowers. Low or no down payment, fixed or adjustable-rate, and no private mortgage insurance (PMI) options may be available.

Construction Loans

Borrowers looking to build a new home typically need financing before they’re ever able to walk in through that front door. With a construction loan from RBFCU, their builder has a budget to work with, and the loan is provided with easier financing while the home is constructed.

Land Loans

A land loan from RBFCU makes it possible to buy just the land so borrowers can find the perfect location for their next dream home.

Randolph Brooks Federal Credit Union Mortgage Portfolio Overview

Mortgage Option	Key Features
Fixed-Rate Loans	• Consistent Rates Throughout the Loan Term • Stable Payments for Long-Term Homeowners • Rate Remains Unaffected by Market Fluctuations • Typically Requires 20% Down Payment (Conventional Loans)
Adjustable-Rate Loans	• Rates Change With the Market, Offering Potential Savings • Initial Low Rates May Increase or Decrease Over Time • Suited for Those Expecting to Sell or Refinance Soon • Borrowers Need to Be Prepared for Potential Rate Fluctuations
FHA Mortgage Loans	• Government-Backed With Lower Down Payments • Qualified Applicants May Pay as Little as 3.5% Down • Lower Monthly Payments Compared to Conventional Loans
VA Loans	• Exclusive to Veterans, Armed Forces, and Surviving Spouses • VA Guarantee Enables Favorable Terms From Lenders • Options for Low or No Down Payment, Fixed or Adjustable Rates • Excludes the Need for Private Mortgage Insurance (PMI)
Construction Loans	• Designed for Those Building a New Home • Provides Budgeted Financing During Construction • Ensures Funds Are Available Throughout the Building Process
Land Loans	• Enables Purchase of Land for Future Home Construction • Ideal for Finding the Perfect Location for a Dream Home • Separates Land Purchase from Home Financing

RBFCU Mortgage Experience

RBFCU has several different mortgage products available for members and extensive loan guidance on its website for applicants who want to learn more about mortgages and consider applying. Applicants can apply online and can also apply for prequalification so they can confidently make an offer on a home or know what to expect when refinancing.

Prospective applicants can also apply in-branch at one of RBFCU’s locations. Using an online calculator, borrowers can determine how much home they can afford and what their payments will probably look like. To get a quote and become prequalified, applicants will need to provide personal information about their identity and credit.

By scheduling an in-person meeting with a loan officer or applying online, borrowers can begin the prequalification process.

RBFCU does require documentation for mortgage loan applications, which is a typical request for lenders to make. Borrowers will need to show that they can afford the monthly payments for the home they plan to purchase. To do this, they may be asked to turn in bank statements, W2 forms, tax returns from past years, pay stubs, asset documentation, and other evidence.

Each loan may have different requirements and credit standards. At RBFCU, the loan officers do try to work with borrowers to figure out the overall ability to repay the loan.

Lender Reputation

RBFCU is not on Trustpilot. The credit union’s BBB rating is A+ with customer reviews averaging 1/5 stars.

Mortgage Qualifications

Credit score	Quality	Ease of approval
760+	Excellent	Easy
700-759	Good	Somewhat easy
621-699	Fair	Moderate
620 and below	Poor	Difficult
n/a	No credit score	Difficult

Although the credit union may offer loans to borrowers with no credit history or low credit scores, these options are usually more limited. Mortgage applicants who have credit scores at 760 and higher may receive the best loan offers from RBFCU.

Borrowers with scores between 700 and 759 may not receive the best options, but should probably have a few different choices. Applicants with “fair” credit may need an alternative or government-backed mortgage program and may not receive the best offers from RBFCU.

For the very best RBFCU offers, borrowers should have plenty of income and asset documentation for loan officers to review.

Debt-to-income ratio	Quality	Likelihood to get approved by lender
35% or less	Manageable	Likely
36-49%	Needs improvement	Possible
50% or more	Poor	Unlikely

RBFCU Phone Number and Additional DetailsRBFCU is most likely to offer favorable terms to borrowers with debt-to-income (DTI) ratios of 30 percent or less. Applicants who have higher DTIs may want to ask about RBFCU’s alternative and government-backed loan programs, to qualify for the best possible offers.

Homepage URL: https://www.rbfcu.org/
Company Phone: 1-800-580-3300
Headquarters Address: 11911 Burnet Rd., Austin, TX 78758-2901

The Bottom Line – Randolph Brooks Federal Credit Union Mortgage Review

Randolph-Brooks Federal Credit Union (RBFCU) has come a long way since its humble beginnings in 1952, evolving into one of the nation’s largest credit unions with over half a million members and $6 billion in assets. RBFCU offers a variety of mortgage options, including fixed-rate and adjustable-rate loans, FHA, VA, and even construction and land loans, making it a versatile choice for potential homeowners.

Prospective borrowers can benefit from RBFCU’s commitment to education, with online tools and resources to guide them through the mortgage process. The credit union’s in-branch assistance adds a personal touch to the application process. However, it’s worth noting that RBFCU’s BBB rating is A+ but is accompanied by mixed customer reviews, and the absence of Trustpilot ratings raises some questions about customer satisfaction.

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