First Mortgages

Zero-Down Home Loan

Do you have a good credit history and would like to purchase your dream home, but lack the funds for a down payment? Maybe you'd rather have your cash available for other investment opportunities? There are no income restrictions for the Zero-Down Program. All you need is a good credit history and savings equal to two months principal, interest, taxes and insurance.

Fixed Rate Mortgages

Lock your interest rate for the term of the loan, so you'll know exactly what your payment will be. Choosing a fixed rate mortgage loan is often the route to go when you are entering into a long-term commitment with a property. This means that you know you've got more time to pay off a loan. You can choose a longer term loan and have smaller monthly payments. Or perhaps you would prefer a shorter term loan and make larger payments, which means you pay less overall interest.

• Terms to fit your budget
• Dividends paid on escrows
• Monthly payment that never changes
• Interest rates locked in at time of application or float
• Choice of 10, 15, 20, 30 year terms

Adjustable Rate Mortgages (ARM)

The initial interest rate is fixed for 1 to 7 years, then adjusted according to the market. ARM loans offer lower interest rates during the first year of your loan. WESTconsin Credit Union loan officers will review several ARM loan options with you to determine which loan will save you money in interest rates and fees:

• 1/1 Year ARM (1 year fixed rate and rate adjusts annually thereafter)
• 3/1 Year ARM
• 5/1 Year ARM
• 7/1 Year ARM
• 3/3 Year ARM (3 year fixed rate and rate adjusts every 3 years thereafter)

WHEDA

First-time home buyer loans with a low, fixed interest rate to help low- and moderate-income individuals and families buy a home. You cannot have owned a home within the past three years.

Vacant Lot Loans

Use this adjustable rate loan when you are ready to purchase vacant land for your next home or as an investment.

Home Construction Loans

Builders and contractors often require payment before your home is completed. WESTconsin Credit Union offers options that keep your budget in line and your construction schedule on time. There are no charges for construction draws or site inspections!