Arsenal Credit Union - Home Loan Products

We offer flexible rates and terms on our home loan products. Look through our helpful resources for home buying tips, or calculate your loan payments.

Apply for a:

Home equity loan or line of credit
Mortgage
First-time home buyers loan – There will be a charge for credit reports: $26.84 for an individual applicant and $43.46 for joint applicants.

Update your insurance information for your ACU loan.

Home equity loans (fixed rate) What's home equity?

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

First mortgages (fixed, adjustable, or balloon rate)

Choose from a range of short- and long-term fixed-rate mortgages.
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. Call 314.962.6363 and say or press 4 for our current rates and terms.

There will be a charge for credit reports: $26.84 for an individual applicant and $43.46 for joint applicants.
Homeline home equity line-of-credit (variable rate) What's home equity?

Borrow up to 80% ($5,000 - $150,000) at the prime rate
Borrow up to 100% ($10,000 - $50,000) at the prime rate + 1.0% APR*

*APR = Annual Percentage Rate. May adjust monthly. Adjustment cap 2%, floor 6%, lifetime cap 20%.
**ACU may pay closing costs for home equity loans or lines of credit. Borrower is responsible for obtaining and paying for comprehensive insurance to cover the value of the real estate. If the borrower repays the loan within the first 12 months, the borrower must reimburse the credit union for the closing costs.

Helpful Resources

Mortgage types and terms

Getting started

Five tips for shopping for a mortgage
Tour our home buying coach
360 degrees of home ownership – Owning, refinancing, and improving a home
What buyers and sellers need to know about real-estate agents
For a library full of financial information, visit MEMBERS Financial Network.
Contact ClearPoint Credit Counseling Solutions for pre-purchase counseling

Credit

Your credit score
Check your credit report for free to get the best rate. Go to www.annualcreditreport.com or call 1.877.322.8228.

Financial calculators

Getting control of your debt

Managing your debts: how to regain financial health
Contact ClearPoint Credit Counseling Solutions or the Jefferson County Housing Task Force for assistance with mortgage problems.
Search mortgage foreclosure resources or call the U.S. Financial Literacy and Education Commission at 1.888.995.HOPE for additional help.

What's home equity?

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. 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.