Mortgages & Home Equity Loans

Mortgage Options • 5/7 Year Balloon Special • Pay your ICCU Mortgage Payment 
Typical ICCU Closing Costs • Mortgage Contacts

 

Welcome! Whether you are buying or refinancing your home, ICCU's mortgage experts promise you exceptional personal service and a full range of loan products to fit your individual needs. 

ICCU mortgage services include:  

• Closings in typically 2-4 weeks
• Exceptional member-focused service
• Some of the area's lowest closing costs
• Helping homeowners for 26 years

Affordable Home Ownership:  Let ICCU help you choose the home loan that is best for you. ICCU can help get you into a home with a payment you can afford.

There has never been a better time to buy with low mortgage interest rates and homes priced to sell.  ICCU offers fast, convenient processing.

Online Application Update:  The secure online mortgage application is temporarily unavailable.  To apply for a mortgage with your credit union, please contact the ICCU Mortgage Department.  To send ICCU a secure email (with attachments) visit the ICCU Secure Email Message Center.  Your patience is appreciated. (Sept., 2011).

ICCU's Offering of Residential Mortgage Loans

• Conventional Mortgage - A mortgage that is initiated for the purchase or refinance of a one to four family, owner-occupied dwelling.  Fixed terms up to 30 years.  
   
• Home Equity Loan - A line of credit or fixed rate loan based on the equity of a one to four family, owner-occupied dwelling.
   
• Home Improvement Loan - A closed-end installment loan, secured or unsecured which can be used for repairing, remodeling or rehabilitating a one to four family residential dwelling. 
   
• USDA Rural Development Loan - Available to first-time home buyers with as little as zero down.  Subject to available funds through the government agencies.  Geographic restrictions apply, available to homes outside city limits.  Also know as a USDA or RD loans.
   
• MSHDA Loans - MSHDA provides financial and technical assistance through public partnerships to create and preserve safe and decent affordable housing. 
   
• Vacant Land Loans - Financing available up to 70% of the purchase price, or appraised value on vacant land and/or hunting property.  

Five and seven year balloons are available to help make the payment more affordable.   Amortization not to exceed 20 years. 

Available on property zoned as residential or single-family agricultural (not a working farm). 


Contact Information:  To learn more, or find out which program is best for you talk to Gail or Jim in ICCU's Mortgage Department.  Call 989-773-5927 ext. 242 and 230.

Rates: Click for current ICCU mortgage rates which change daily, typically around 12:00 noon.

Home Ownership: The Best Time to Buy in Years 

With some of the lowest mortgage rates in years, incredible options, no application fees, an ICCU mortgage is a great value. You can save some serious green at your credit union! 

January 2012 -- Local surveys of area financial institutions confirm that ICCU members can typically save up to $1,000 in closing costs on a typical $100,000 mortgage.

• Stop renting and start owning: ICCU offers a straight forward approach to home ownership financing, without hidden costs or fees. You will know everything upfront, before signing on the dotted line.

• Fast Service:  Your credit union is known for fast professional service. Many REALTORS choose to work with ICCU based on those two factors alone.  Most mortgage closing are completed with 2-4 weeks.  Have a question? Ask Gail or Jim for straight-forward, easy to understand assistance. 
   
• Already have a mortgage? Fast re-financing is available with low closing costs to reduce your payments. Interest rates change daily.  If you have a credit score over 740, you may be able to avoid many of the fees at closing.

Rates:  Click for current ICCU mortgage rates, which change daily often around 12:00 noon

5&7 Year Balloon Mortgage:  

ICCU is offering at or below-market rates on five and seven year balloon mortgages for a limited time. 

Picture yourself in a new home with a lower payment, thanks to a balloon mortgage.  A balloon mortgage is good for those planning to live in a home for 5 or 7 years or less; for those who want to lower their existing mortgage payment; or who have less than 7 years to payoff their mortgage. 

Talk to an ICCU loan officer to learn about your best options. 

Conversations are always free.  ICCU has some of the area's lowest closing costs, and fastest turn-around times, typically in 2-4 weeks.  

Typical ICCU Mortgage Closing Costs

Your credit union is proud of offer some of the area's LOWEST closing costs.  Surveys of area financial institutions are regularly conducted for comparision, and ICCU typically comes up on top (or should we say "bottom" of the cost list) each time.

ICCU can save members hundreds mortgage closing costs.  On a typical $100,000 mortgage members may save over $1,000 in closings costs by financing at ICCU.  Closing costs based on local area surveys - conducted monthly.

All items/fees below are subject to change. Some fees are a based on individual credit scores, and additional fees may apply. Contact ICCU's Mortgage Department for details.

Typical ICCU Mortgage Closing Costs

Initial deposit to Escrow Account varies based on date of the mortgage closing. 
ICCU offers some of the area's LOWEST mortgage closing costs. 

Information and costs are subject to change • As of January 3, 2012 • Additional fees may apply 

ICCU is an equal housing lender.