Home Loans

First Mortgage

Ready to buy your first home? Let us help. FECU* offers a full line of first-mortgage loan options with competitive rates, flexible fixed- and variable-rate terms, and competitive closing costs. If you are purchasing a new home or want to refinance to take advantage of low rates, you can apply online or call our loan officer to make an appointment. Our partners at Servion (NMLS #1037) will help you determine which loan might work best for you, and guide you through the rest of the process.

Current Mortgage Rates

Go to our online mortgage center for current mortgage rates, and to get an estimate of closing costs.

First Mortgage Resources

Home Loan Tool Kit

Home Buyer Guide (pdf)

Home Buyer Basics (pdf)

Home Buying Frequently Asked Questions (pdf)

* First mortage not available in Alaska, Arizona, Hawaii, Idaho, Maine, Massachusetts, Montana, Nevada, New York, Oregon, Rhode Island, Vermont, Virginia, and West Virginia.

Home Equity

You’ve worked hard to build equity in your home. Now make that equity work for you. We offer a wide range of loan options with competitive interest rates, flexible terms, and fast, convenient service. Automatic payment options are available. Borrow up to 90 percent of the equity in your home*, with a variable-rate line of credit or a fixed-rate loan, for almost anything — remodeling, tuition, bill consolidation, vehicles, and more. There are no closing costs in most situations**.  

Home Equity Lines of Credit FAQ

* Equity available is determined by FECU guidelines
** Some restrictions may apply
Note: Available to members who own a home in Minnesota, Arizona, Georgia, Kansas, Missouri, and Indiana.

Home Improvement

Make your house a home. Finance improvements or additions with a loan that features a competitive interest rate. 

Note: Available to members who own a home in Minnesota, Arizona, Georgia, Kansas, Missouri, and Indiana. The amount you can borrow depends on which state your home is in. Financing $5,000 or more will require a lien be placed on your home. In this situation, the interest you pay can be tax deductible (consult a tax advisor).

Closed End Home Equity Rates

 Home Loans Term APR
Closed End 80% LTV and lower 60 months or less 4.75-5.25%
Closed End 81% - 90% LTV 60 months or less 5.25-5.75%
Closed End 80% LTV and lower 61 - 120 months 5.75-6.25%
Closed End 81% - 90% LTV 61 - 120 months 6.25-6.75%
Closed End Balloon Note 80% LTV and lower 10-20 yr. ammort. with 5 yr balloon 4.75-5.25%
Closed End Balloon Note 81% - 90% LTV 10-20 yr. ammort. with 5 yr balloon 5.25-5.75%

Available to Minnesota, Arizona, Indiana, Georgia, Kansas, and Missouri Residents

Home Equity Line of Credit Rates

Home Equity APR
Home Equity Line of Credit 80% LTV and lower 5.00% variable
Home Equity Line of Credit 81% - 90% LTV 5.50% variable

Available to Minnesota, Arizona, Indiana, Georgia, Kansas, and Missouri Residents

Home Improvement Loan Rates

Home Improvement Term APR
Home Improvement Secured* 7.50-8.00%
Home Improvement Unsecured 8.75-9.25%

Available to Minnesota, Arizona, Indiana, Georgia, Kansas, and Missouri Residents

Federated Challenge

FECU is proud to partner with the Federated Challenge®. Borrowing from FECU will help brighten the futures of many youth. FECU will donate $1 for every funded loan to support the Federated Challenge®!

NOTE: Federated Employees Credit Union provides third party links for your convenience. We are not responsible for the content or security on third party sites.

You did a great job getting us approved in a short time frame and have been very easy to deal with. Nothing but positive things to say about all the people at FECU and all the dealing we have there.

Bill, Claims Manager