Home Loans
Dreaming of a New Home?
Whether you are buying or refinancing your home, ICCU's mortgage experts promise you exceptional personal service. We know that your house is more than just a roof over your head; it’s a place for you to feel safe and make memories to last a lifetime.
**We are aware that some members are receiving a postcard after closing on their mortgage regarding an “important” and “time-sensitive” matter with their loan. Please know that this is not coming from ICCU. If we needed to contact you about your loan, we would simply call you. If you are unsure about anything you receive in the mail or online, please reach out to us before following the instructions. Our team is always happy to help!
Conventional Mortgage
It’s More Than a Home
With a conventional mortgage, you can rest assured that financing your home will be as simple as possible. We know, at times, it can be an overwhelming process. That’s why our team of mortgage officers are with you every step of the way!
Closings in typically 4-5 weeks
Some of the area's lowest closing costs
Helping homeowners for over 30 years
Effective Date: July 22, 2025
| Loan Type/Details | Note Rate | APR After Prepaids* |
|---|---|---|
| 15-Year Fixed | as low as 6.000% | as low as 6.171% APR |
| 20-Year Fixed | as low as 6.500% | as low as 6.758% APR |
| 30-Year Fixed | as low as 6.750% | as low as 6.951% APR |
| *Rates are subject to change without notice and are based on LTV ratios, credit scores, and other factors. APR is calculated based on a mortgage loan amount of $175,000.00; purchase or no cash-out refinance with 80% financing and 740 and higher credit score. No points. | ||
5 & 10-Year Balloon Mortgage
What is a Balloon Mortgage?
Our balloon mortgages with terms of 5 and 10 years, with payments that are amortized over 30 years. In other words, the amount of your monthly payment is based on a schedule as if you would be making continuous monthly payments for 30 years to pay off the loan. But, because the term of the loan is so much shorter, at the end of the term you owe the outstanding balance. This amount is paid off through refinancing the loan or selling your home.
Should You Choose a Balloon Mortgage?
Plan to live in a home for 10 years or less
Want to lower your existing mortgage payment
Have less than 10 years to pay off your mortgage
Effective Date: July 22, 2025
| Loan Type/Details | Note Rate | APR After Prepaids* |
|---|---|---|
| 5-Year Balloon | 30-Year Amortization | as low as 6.000% | as low as 6.262% APR |
| 10-Year Balloon | 30-Year Amortization | as low as 6.250% | as low as 6.410% APR |
| *Rates are subject to change without notice and are based on LTV ratios, credit scores, and other factors. APR is calculated based on a mortgage loan amount of $175,000.00; purchase or no cash-out refinance with 80% financing and 740 and higher credit score. No points. | ||
Vacant Land Loan
Looking at purchasing property? The Vacant Land Loan is perfect for building a home, hunting property, or as a future investment.
Financing is available up to 80% of the purchase price, or appraised value with a minimum down payment of 20%. To make the monthly payment more affordable, we offer five-year balloon terms with amortization no more than 20 years. Properties can be zoned as residential or single-family agricultural (not a working farm).
To get started, apply below or schedule an appointment to learn more about your options!
Residential Construction Loan
Build Your Dream Home.
We want to help to make your dreams come true! Our Residential Construction loan can help you get from breaking ground to moving into your new home.
Financing up to 80% of the construction price or appraised value is available with up to 12 months of interest-only payments while you are waiting for your home to be finished.
The best part? You don’t have to worry about a second closing for permanent financing. We’ll take care of it!
Mobile Home Loan
Purchase or Refinance Your Mobile Home
For simple terms and local service, finance your mobile home at ICCU! simple terms and local service. Mobile homes can be a primary, secondary, or even a vacation home.
Here are a few things to consider:
Home must be located in a mobile home park or community
It can’t be more than 25 years old
Minimum of 10% down payment required for purchase
Financing Your Mobile Home
Single-wide Terms:
66-month balloon with payment schedule up to 15 years
Fixed-rate up to 15 years
Double-wide Terms:
66-month balloon with payment schedule up to 25 years
Fixed-rate up to 15 years
Rural Development Mortgage
No down payment? No problem!
That's right! With a Rural Development Mortgage (RD Mortgage), a down payment is not required. You can finance 100% of your home purchase and, in some circumstances, you can even wrap the closing costs into the mortgage amount as well! RD Mortgages have a 30-year term and rates typically comparable to conventional mortgages.
So, what are you waiting for? Stop renting and start owning.
Federal Housing Administration (FHA) Loan
The FHA Loan Program is an excellent option for first-time home buyers!
Finance up to 96.5% on a purchase, 85% on a cash-out refinance, or 97.7% on a rate/term refinance
Borrower must have at least 3.5% down payment, funds can come from gift monies
Veteran's Affairs Mortgage (VA Loan)
ICCU's mortgage option specifically tailored to veterans, the VA Loan!
Eligibility is limited to honorably-discharged veterans and their spouses, reservists, and active-duty personnel who have a current certificate of eligibility
100% financing is available
Two months reserve required on all purchase and refinance transactions
Second-home or investment properties do not qualify
Mortgage Rates
Effective Date: July 22, 2025
| Loan Type/Details | Note Rate | APR After Prepaids* |
|---|---|---|
| 15-Year Fixed | as low as 6.000% | as low as 6.171% APR |
| 20-Year Fixed | as low as 6.500% | as low as 6.758% APR |
| 30-Year Fixed | as low as 6.750% | as low as 6.951% APR |
| *Rates are subject to change without notice and are based on LTV ratios, credit scores, and other factors. APR is calculated based on a mortgage loan amount of $175,000.00; purchase or no cash-out refinance with 80% financing and 740 and higher credit score. No points. | ||
Effective Date: July 22, 2025
| Loan Type/Details | Note Rate | APR After Prepaids* | |||
|---|---|---|---|---|---|
| 5-Year Balloon | 30-Year Amortization | as low as 6.000% | as low as 6.262% APR | 10-Year Balloon | 30-Year Amortization | as low as 6.250% | as low as 6.410% APR |
| *Rates are subject to change without notice and are based on LTV ratios, credit scores, and other factors. APR is calculated based on a mortgage loan amount of $175,000.00; purchase or no cash-out refinance with 80% financing and 740 and higher credit score. No points. | |||||
Effective Date: December 19, 2023
| Loan Type/Details | Note Rate | APR After Prepaids* |
|---|---|---|
| Vacant Land Loan | 5-Year Balloon | add 1% to current rate | |
| *Rates are subject to change without notice and are based on LTV ratios, credit scores, and other factors. APR is calculated based on a mortgage loan amount of $175,000.00; purchase or no cash-out refinance with 80% financing and 740 and higher credit score. No points. | ||
ICCU Borrower's Portal
Check Your Application Process
The ICCU Borrower’s Portal allows you to upload documents, review forms, and check on the status of your mortgage.
Meet Our Mortgage Team
Whether you are considering purchasing a new home, refinancing your current home, or are simply exploring your options, ICCU is here for you, every step of the way.
Choose your mortgage officer to work with them directly:
Gail Zeneberg
NMLS#405283
Mortgage Loan Officer
(989) 773-5927 ext. 242
gzeneberg@iccuonline.com
Nathan Lehman
NMLS #2417042
Mortgage Loan Originator
(989) 773-5927 ext. 427
nlehman@iccuonline.com
Dan Timmins
NMLS #685747
Mortgage Loan Manager
(989) 773-5927 ext. 230
dtimmins@iccuonline.com