Home Mortgage Loans

Rates

Because interest rates are still low, now is the perfect time to build, buy, or refinance — plus we offer some of the most competitive rates in the Forest City.

Details
  • Low, competitive rates
  • Payment and terms to fit within your budget
  • Pre-approval for better buying power
  • No pre-payment penalty
  • TruStage Home & Auto Insurance Program available
  • Access additional detailed information via WebDirect online banking:
    • Current mortgage loan status (balance, interest rate, last payment, next payment, and more)
    • Previous years tax & interest information (1098 & 1099-int)
    • Escrow information & disbursements
    • 12 months of loan account history
  • Expert personal service at every step
  • Local decision-making

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Nationwide Mortgage Licensing System "NMLS"

The Secure and Fair Enforcement for Mortgage Licensing "SAFE Act" requires the registration of a mortgage loan originator "MLO" on the "NMLS" federal registry.

"MLO's" registered through MembersAlliance Credit Union NMLS # 486795 are:

  • Jaborek, Lea NMLS # 800068
  • Martin, Jenna NMLS # 1540112
  • Rundblade, Elizabeth NMLS # 530713
  • Smith, Patricia NMLS # 504293
  • Tall, Jeremy NMLS # 696133
Mortgage Types

Fixed-Rate Loans

A conventional home loan generally takes the form of a fixed-rate mortgage, with principal and interest payments that remain the same throughout the life of the loan. Fixed rate loans can often require as little as a 5 to 10% down payment; however, when a down payment of less than 20% is made, Private Mortgage Insurance (PMI) is required to insure the loan. MembersAlliance Credit Union offers the traditional 10, 15, 20 & 30 year fixed terms, and the YourTerm 8-30 year fixed rate terms, where you choose the term that’s right for you!

Adjustable Rate Mortgage (ARM)

These loan programs typically offer a lower interest rate than fixed-rate loans, with low rates that remain fixed for only a set period of time (typically three, five or seven years). After this period, the interest rate is "adjusted" annually based on the current economic conditions.

FHA

FHA loans are created by the Federal Housing Administration. They are a great option for borrowers that need flexible credit guidelines or lower down payment requirements. FHA loans are available as a 15, 20,25, or 30 year fixed rate term and a 5/1 year term Adjustable Rate Mortgage (ARM). FHA loans require a 3.5% down payment and will allow credit scores as low as 620.

Construction Loans

You can build your custom home to your exact specifications with a construction loan from MembersAlliance. We offer great competitive rates, experienced personnel, and local decisions and service for the life of your loan. Talk to one of our loan experts today!

  • Competitive rates
  • Flexible terms and affordable payments
  • Local decision-making
  • Service from MembersAlliance for the life of the loan
  • Interest-only payments during construction
  • Can roll into permanent mortgage at end of construction
Refinancing

Refinance your existing mortgage loan to MembersAlliance and save! Our competitive rates can lower your monthly payments to give you more room in your monthly budget or you can pull cash out to utilize the equity in your home for whatever you need! Ask about refinancing today!

  • Save money with our competitive rates
  • Lower your monthly payments
  • Utilize the equity in your home
  • Local decision-making 

Home Affordable Refinance Program (HARP)

The HARP is designed to help you lower your monthly payment or interest rate by allowing you to refinance your loan, even if you owe more than your house is worth. 

We Can Help!

  • Reduce your interest rate/reduce your monthly payment
  • LTV up to 200%
  • Fixed Interest Rates
  • Terms available 8-30 years

YourTerm Mortgage

This mortgage product allows you to refinance your current loan in order to lower your interest rate and monthly payment, without extending your term. Pick your term — 8 to 30 years — with a fixed interest rate.

*Some specialty loan products cannot be applied for online: contact a MACU loan representative for assistance.Primary mortgage loans held in the MACU portfolio will be secured by owner occupied residential real estate property located in Boone, Dekalb, Lee, McHenry, Ogle, Stephenson or Winnebago County in Illinois and Green, Rock or Walworth County in Wisconsin. Mortgage loans originated that are secured in other counties, will be sold to the secondary market.