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Home Loan Products

We offer mortgages, home equity loanshome equity lines of credit and Go Green loans.

Member Home Loan Program

There's no feeling quite like holding the key to your new house for the first time. Although it's such a simple piece of metal, one key has the power to unlock the walls guarding the space where your most significant life events will unfold.

Home is where you will entertain your closest friends and family; it provides a safe haven for your children's imaginations to flourish; it comforts you each night when you rest your head. It does all of this and everything in between.

At Arsenal, we know that home is the epicenter of your world. That's why we're offering some of the lowest rates and longest terms on home loans designed to help you stop dreaming and start living in a space you can call your own.

Our fast, professional mortgage team will guide you through the process with the superior service you've come to expect from your credit union. (Click here for a current list of Mortgage Loan Originators at Arsenal Credit Union who are registered with NMLS.)

Adjustable- and fixed-rate options are offered at short and long terms:

  • An adjustable-rate mortgage (ARM) may have a lower up-front interest rate than a fixed-rate mortgage. (Rate caps vary by plan.)
  • Balloon mortgages offer low monthly payments at a fixed rate for seven years. With the final balloon payment of principal and interest, you can choose to pay off the loan or refinance it.

Rates change daily. For current rates and terms, call 314.962.6363 and say or press 4.

Get started now! Apply for a mortgage loan.

If you are a first-time homebuyer, our local partner, First Integrity Mortgage Services, can show you how you can become a home owner.

 

Home Equity Loans and Lines of Credit

The "equity" you have in your house is the difference between what you still owe on your house (your mortgage balance) and what your house is worth on the market now (the appraised value).

You can borrow against your equity to consolidate bills, fix up your home, finance college tuition, even purchase a new car. Unlike many other lenders, we allow you to borrow up to 100% of the equity you have in your home, plus we pay for the associated closing costs* on such loans – a $500 to $700 value on average! Interest on home equity loans is often tax deductible, too. Check with your tax advisor for details.

If you choose a home equity line of credit, you can draw on it as you need it. For example, if your credit line is $22,000, you might decide to initially use $5,000 to pay off all your credit card debts. A year or two later, you may want to remodel your kitchen or basement and get a $10,000 advance from your credit line to make it a reality. Tap into your line of credit anytime without reapplying with special checks from the credit union. As you pay off your credit line, the money becomes available for you to borrow again.

Home equity loans (fixed rate)

  • Borrow 60%, 80%, or 100% of your home's equity.
  • At 60%, borrow a minimum of $20,000.

Home equity lines-of-credit (variable rate)

  • Borrow up to 80% ($10,000 - $150,000) at the prime rate
  • Borrow up to 100% ($5,000 - $100,000) at the prime rate + 1.0% APR**

*ACU may pay closing costs for home equity loans or lines of credit. If the borrower repays the loan within the first 12 months, the borrower must reimburse the credit union for the closing costs. Borrower is responsible for obtaining and paying for comprehensive insurance to cover the value of the real estate.In the provided example, if borrowing 60% of the equity you have in your home,  you could borrow $33,000. At 100%, $55,000.

**APR = Annual Percentage Rate. May adjust monthly. Adjustment cap 2%, floor 6%, lifetime cap 20%.

Please read our home equity disclosure.   

What you should know about home equity lines of credit

To apply for a home equity loan or line of credit, please visit any of our branches or call us at 314.962.6363 or 618.239.6363, option 4.

If you currently have a home equity loan or line of credit with us, you can update your insurance information here.

 

Go Green Loans

These loans carry special rates and fees for homeowners looking to make energy-efficient improvements; click here to read more.

 

Check out our online financial education hub for a variety of helpful resources.

 

 

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