SIUe CREDIT UNION
HOME LOANS
HOME LOANS
Learn about the two different types of home loans we offer at SIUe Credit Union: Home equity & Mortgage. We are willing to aid you in taking the next big step when it comes affording a home. Have questions? Feel free to call us at (618) 650-3760.
View our Mortgage Loan Options Below
Whether you’re purchasing or refinancing a home, get your mortgage from someone you know and trust. Our mortgage lending professionals will take you through every step and offer you competitive rates, affordable repayment terms and friendly, personal service. We offer a variety of mortgage options to fit your needs.
Fixed Rate Mortgage Loan
Fixed-Rate Mortgage Loans
- Make monthly principal and interest payments that don’t change
- Enjoy terms ranging from 10 to 40 years
- Finance up to 97% of your home’s value
Adjustable-Rate Mortgage Loans
Adjustable-Rate Mortgage Loans
- Manage risk with 3/1, 5/1 and 7/1 adjustable rate options
- Get great low rates
- Finance up to 97% of your home’s value
Special Loan Program: Flex 97
Special Loan Program: Flex 97
- Secure financing with minimal down payments
- Receive low, fixed rates
- Enjoy personal service from local mortgage professionals
Home Equity Line of Credit (HELOC)
Home Equity Line of Credit (HELOC)
Home Equity Line of Credit (HELOC) HELOC accounts work similarly to a credit card where you are approved for a maximum credit limit and can then spend the money as you need it. The rate on these accounts is variable and can change quarterly based on the Wall Street Journal Prime Rate.
A HELOC
- Can finance your next home remodel or home project
- Can consolidate all of your current debt into one payment
- Can finance education expenses, medical expenses, or big life events (such as weddings or new babies)
- Can finance that vacation home purchase you’ve always wanted
- Can finance that new pool you’ve always wanted
- Can be a reserve for emergencies
Features
- Access up to 97% of the value of your home
- No Annual Fee
- No prepayment penalties
- Low Closing Costs
- Revolving credit with a 5-year draw period
- 10-year repayment period
- Loan amounts up to $150K
- Interest may be tax-deductible (consult a tax advisor regarding the deductibility of interest)
- Fixed Rate Conversion Option
Important Terms of our Home Equity Line of Credit
What you should know about Home Equity Lines of Credit (HELOC Brochure)
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