Conventional Mortgages | Municipal Credit Union

Discover the Benefits of an MCU Mortgage.

Turn your dream home into a reality with an MCU mortgage—featuring flexible terms, great rates, top-tier support, and get started with as little as 3% down!

Great Rates

Save more while working towards homeownership. MCU members benefit from low interest rates across all loan options and term lengths.

Easy Online Application & Account Management

Apply for a Conventional Mortgage through MCU’s simple online application. Enjoy hassle-free online payments with our flexible, automatic payment tools.

Top-Tier Support

Our expert team of lending professionals is here to provide the resources you need to make informed financial decisions every step of the way.

Ready to turn your real estate dreams into reality?

Whether you're starting your search or have already found your perfect home, MCU is here to help. Our Lending Sales Specialists are eager to find the right loan for you and answer any questions you have.

Schedule an appointment today to get started!

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Flexible Terms and Competitive Rates

for Your Dream Home

10-Year Term

Take out a loan over a 10-year term, and lock in rates as low as 6.250% APR*.

15-Year Term

Take out a loan over a 15-year term, and lock in rates as low as 6.375% APR*.

20-Year Term

Take out a loan over a 20-year term, and lock in rates as low as 6.500% APR*.

30-Year Term

Take out a loan over a 30-year term, and lock in rates as low as 6.875% APR*.

Get Expert Support, When You Need It.

Connect with one of our team members for personalized support.

Explore Additional MCU Lending Options.

We work hard to ensure that our community heroes get the financial support they deserve. Whether you're buying a home, a vehicle, or something else, MCU is here to help you along the way.

Personal Loans

Need to pay for an unexpected expense, a special event, or just need some extra cash to consolidate some high-interest bills? An MCU Personal Loan is a hassle-free way to access the funds you need and take control of your finances.

See Personal Loans

Auto Loans & Services

Get access to reliable products that help you buy, refinance, or insure your car. Explore our affordable loan and service options so you can focus on what really matters: grocery runs, daycare pickups, or a new commute.

See Auto Loans & Services

FAQs

Get Answers to Our Most Frequently Asked Questions.

Is there a cap on how much I can borrow with a conventional loan?

Yes. A conventional loan will allow you to purchase a home for up to $647,200 in most counties and up to $970,800 in high-cost counties.

What type of documentation do I need for a conventional loan?

When you’re ready to apply for a conventional loan, it’s a good idea to have these documents ready to go:

Tax returns
Pay stubs, W-2s or other proof of income
Bank statements and other assets
Credit history report
Gift letters
Photo ID
Renting history
Debt history

Can I only buy certain types of homes with a conventional loan?

You are not limited in the types of homes you can buy with a conventional loan. You can buy a single-family house, condo, apartment, etc.—it’s up to you!

What is the primary benefit of conventional loans?

The primary benefit of a conventional loan is its ability to reward borrowers with good-standing credit with a much lower interest rate throughout the loan term.

How much of the down payment do I need for a conventional loan?

You will find that the minimum down payment for a conventional loan is 3%. However, those with lower credit or higher debt-to-income ratios may be required to put down a more significant initial down payment.

Ready to Own the Home of Your Dreams?

Join now to get access to the competitive rates, member-friendly loan products, and educational resources you need to secure an exceptional financial future.

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Disclosure:

*APR = Annual Percentage Rate.

PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE (PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.

Above APRs are based on loan amounts of $280,000. Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply. For more details, see our Rates page.

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3% Down:
The Key to Your New Home!