Home Mortgage Loans
Start building equity in your own home. We offer a wide range of home mortgage loans to fit your financial situation. Our goal is to get you into the home of your dreams for the least cost and amount of red tape.
That's why we offer competitive rates and flexible terms to ensure affordable payment plans. Contact us today to discuss your options. Our experienced lenders are familiar with the real estate market and can customize a loan to your particular housing needs.
- Wide range of home mortgage loans available
- Competitive rates and flexible terms
- Affordable payment plans to fit most budgets
- In-house processing for speed and efficiency
- Flexibility to close in most locations
- Competitive closing costs
- Attentive personal service, from application to closing
Types of Mortgages
This is the most common type of loan and is available in 10, 15, 20, and 30 year terms. A benefit is having a fixed term throughout the length of the loan. Typically, borrowers may lock in a lower rate closer to closing. Rate and buy-downs are available by paying discount points (1 point = 1% of the loan amount; points vary daily and by amortization. Down payment requirement depends on loan type).
Fixed Period ARMs
Available on conventional loans only. These loans are fixed for either the first 3, 5, 7 or 10 years. At the end of this term, the loan then changes to a 1 - Year ARM. The loan is then adjusted according to the terms of the individual ARM. Most of these loans are based upon the 1 - Year Treasury Index with margins of 2.75. These loans also typically have a conversion option available in years 1 - 5. Minimum down payment is 10%.
A residential mortgage from an approved lender and insured by the Federal Housing Administration. The down payment on an FHA loan usually is less than that for a conventional mortgage. Please contact us for more information on FHA loans.
A mortgage made by an approved lender and guaranteed by the Department of Veterans Affairs, often with a low or no down payment. Please contact us for more information on VA loans.
An aggressive rate mortgage option available for borrowers needing to borrow more than $417,000. For conforming-sized loans (≤ $417,000), a non-conforming ARM option is available for borrowers who may frequently relocate, need a lower rate for a short period of time, or are savvy in mortgage options.
CU Companies can meet your mortgage needs throughout the nation! The dark blue shade denotes the states in which we lend. We are the provider that has the essential mortgage expertise you are looking for, wherever you may live.
MB-License Number: MB.6760903 / NMLS ID: 1037
Illinois Department of Financial and Professional Regulation (IDFPR)
James R. Thompson Center (JRTC)
100 West Randolph Street – 9th Floor
Chicago, Illinois 60601
Telephone Number: (888)473-4858
Illinois Residential Mortgage Licensee