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Home Purchase/Refinance

MTEFCU can help you to accomplish your goal of owning a home, or let us help you save money with refinance your existing home.

Home Purchase

Home Purchase

Are you looking to finance a new home purchase? Look no further than your credit union for all of your mortgage needs. We can process your loan from origination to closing at our main branch in Houghton. Don’t finance the biggest purchase of your life without talking to our experienced staff first.

 

Loan Options Include:

   Fixed rate, fixed term loans with terms ranging up to 30 years
   Balloon loans with 5 year balloons and 15 to 30 year amortization terms
   Bridge loans
   As low as a no down payment*
   Escrow accounts available for property taxes and homeowners insurance*
   30 day interest rate locks
   60 day interest rate locks (may be subject to a higher interest rate)
   Local servicing

 

* Escrow will be required with less than 20% down payment.

Lending is available in Baraga, Houghton, Keweenaw, and Ontonagon counties. Loan availability, terms and interest rates are subject to underwriting requirements. Rates and terms are subject to change without prior notice.

Home Refinancing

Home Refinancing

Are you looking to refinance your existing mortgage? Lock in to a new low rate from your credit union to lower that monthly payment and save money in the long run.

 

Loan Options Include:

   Fixed rate, fixed term loans with terms ranging up to 30 years
   Balloon loans with 5 year balloons and 15 to 30 year amortization terms
   Bridge loans
   As low as a 3% down payment*
   Escrow accounts available*
   30 day interest rate locks
   45 day interest rate locks (may be subject to a higher interest rate)

 

* Escrow will be required with less than 20% down payment.

Lending is available in Baraga, Houghton, Keweenaw, and Ontonagon counties. Loan availability, terms and interest rates are subject to underwriting requirements. Rates and terms are subject to change without prior notice.

Please contact Lisa Ruelle at Lisa.Ruelle@mtefcu.org or 906.523.7132 for more information.
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Current Rates
Vehicle Loans APR*
New Auto - 1.99%
Used Auto - 2.99%
New Recreational - 1.99%
Used Recreational -3.49%
Home Equity Loan APR*
60 Month - 4.75%
84 Month - 5.00%
120 Month - 5.50%
Share Certificates APY*
6 Month - 0.45%
12 Month - 0.60%
24 Month - 0.90%
*Rates listed represent our best rate and is based on credit history. Rates are subject to change. Contact MTEFCU for details.