Conventional Home Loans
At M-O Federal Credit Union, we offer a wide range of home loan products. Whether you are in the market for your first home, your next, or you need to improve your current, we have the right product for what you need.
- In House 1st & 2nd Mortgages
- 30, 20, 15 & 10 Year Fixed
- In-House 10 & 5 Year Balloon
- First Time Home Buyer
Can't find the home of your dreams - we can help you build it! We do loans for land too!
- Quick approval process
- Work with a local lender
- Experienced & knowledgeable staff
- Flexible draw schedule
- Interest-only payments during construction
- Land loans for that perfect location
A Well-Earned Benefit ~ We're honored to serve those who have served.
VA loans are only available for veterans and active duty members of the U.S. military and their surviving spouses. There are a variety of loan options, including several different term lengths as well as both fixed and adjustable rate mortgages. For home buyers, the VA loan offers several major benefits, such as:
- Lowest monthly payment we offer
- Lower interest rates compared to other loan options, so you pay less over time
- Instead of mortgage insurance, there's a one-time funding fee that can be paid at closing or built into the loan
- Most veterans and service members won't need a down payment
- 100% financing in most circumstances
- You can qualify with a lower credit score and more debt compared to conventional loans
- You can use your basic allowance for housing to pay your monthly mortgage payment
- If you need to take cash out of your home, you only need to maintain 10% equity. This means you can convert more funds to start a college fund, or do a home improvement project.
Home Improvement Loans
Whether you are a do-it-yourself person or would rather pay someone who specializes, you will be doing yourself a favor by keeping your home updated. For those homeowners who are planning a home improvement project in the coming months, consider a M-O home improvement loan. Help improve the look of your home, because when it's time to sell your home, your remodeling and upkeep efforts can be the key to selling it faster. Whether it is $500 to buy new flooring or $10,000 for new windows, we love doing home improvement loans for our members!
A Home Improvement Loan with Flexibility:
- NO Title Work
- NO Appraisal
- NO Home Equity Needed
- NO Using Home as Collateral
- YES! M-O Federal Credit Union Can Help!
We partner with Quicken Loans to bring you even more loan options to purchase the home of your dreams. The most popular loan options include:
- Conventional Loan - buy more home with as little as 3% down, a fixed rate, and consistent monthly payments
- YOURgage - choose a custom term between 8-30 years, get a fixed rate, and as little as 3% down
- VA Loan - designed for veterans, $0 cash down
- FHA Loan - most flexible loan option, easier qualifications, lower credit requirements, as little as 3.5% down