Home Loan FAQ

What home loans are available?

The FECU offers a wide range of loan options with competitive interest rates, flexible terms, and fast, convenient service to help you reach your homeownership goals.

• Home Equity Loans* 
• Home Mortgages**

How do I apply for a home mortgage?

At FECU, we partnered with Servion Mortgage^® (NMLS #1037) to handle home mortgages**. If you are purchasing a home or want to refinance your current mortgage you can apply online. Once you have submitted your application Servion loan officers can provide information and guide you through the rest of the process.

• Ready to get started?  Apply on My Mortgage-online or contact us for more information
• Learn more: Home Mortgages**
• Rate Calculator: Annual Percentage Rate (APR) Calculator

How can I access my home's equity?

Home Equity Loans* can be used to borrow up to 90 percent of the equity in the home. Select homeowners can choose between a Home Equity loan that offers fixed-rate installment payments, or the Home Equity Line of Credit that lets them borrow money as needed, with a variable interest rate.  The FECU loan officers review completed loan applications in the order they are received and will reach out by email if additional documentation is required. Typically, the entire loan process can be completed within 2 to 3 weeks. 

• Ready to get started?  Apply for a loan online or contact us for more information.
• Learn more: Home Equity Loans*
• Calculator: How much will my loan payments be?

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

** Home mortgages not available in Alaska, Arizona, Hawaii, Massachusetts, Montana, Nevada, New York, Rhode Island, U.S. Virgin Islands, Virginia, and Washington DC.

This information is intended to provide general information regarding available loans only. It should not be considered legal or expert tax advice regarding your specific circumstances. Home mortgage services are provided by The Servion Group (NMLS 1037), a third party wholly independent from FECU. Trademarked names, content, images, features, and products used belong to their respective owners. These third-party features, applications, and incentives are subject to change.  Consult a qualified professional with questions regarding the topics herein. Terms and conditions apply.