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

If you're thinking about buying a home or already have a mortgage, there's a good chance you could be saving a TON OF MONEY. Not only are mortgage rates near historic lows, at MembersAlliance, our members just flat out SAVE MORE. 

Did you know MembersAlliance members saved an estimated two! Point! Two! Million! Dollars last year alone by choosing to bank at MembersAlliance versus the other guys?!

With an average savings of $855 a year on 15 year mortgages, $815 a year on thirty year mortgages, and $1,020 less in closing costs than the other guys, why would go anywhere else? Do you hate money? Of course not!!! You work hard for what you have, and we're working hard for you to maximize your savings.

Banking with MembersAlliance amounts to real savings…real money in your pocket…where it belongs.

See how much you could save with your mortgage at MembersAlliance!

 


At MembersAlliance our mortgages offer:

  • 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

Get Started

Need to make your mortgage payment?

You have a variety of options available to you for making your payment. Click HERE to review and determine what best fits your needs.

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:

  • Kasey Arney, NMLS # 2102601
  • Paul Gurin, NMLS # 1464331
  • Lea Jaborek, NMLS # 800068
  • Gianna Apel, NMLS # 1983509
  • Julissa Parra, NMLS # 1712860
  • Chris Phillips NMLS # 1571793
  • Jeremy Tall, NMLS # 696133
  • Denise Wimmer, NMLS #1603762 

Need to make your mortgage payment?

You have a variety of options available to you for making your payment. Click HERE to review and determine what best fits your needs.

*Annual Savings information taken from 2020 CUNA Economics and Statistics Membership Benefits Report.

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 

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.

Calculator

*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. Annual savings calculations from 2019 CUNA Economics and Statistics Membership Benefits Report.