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Mortgage and Home Equity Loans
When you're buying local, you can borrow local too with FirstCCU
When you're in the market for a home loan, you have a trusted partner here who knows the Stateline area. This is an important milestone for you and your family.
For us, it's so much more than just a transaction, and we treat it with the personalized attention you deserve. We're here to help you figure out which mortgage you need to fit your budget and lifestyle. We provide a smooth and simple home loan experience with personal attention at every turn. Plus, we have the perfect self-service tools to estimate your monthly mortgage payment or to see how much equity is available in your home.
Stay in the know you can text "Rates" to 608.313.8911 for current rates!
Mortgage Options, Rates & FAQs
What is a fixed-rate mortgage? |
Your principal and interest payment stays the same for the full term, so you can budget with confidence. It's our most popular mortgage. |
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How can I start saving for a down payment? |
Put it where it earns more but stays within reach. A FirstCCU Money Market account is built for exactly that. Open a Money Market → |
Is my credit good enough? |
Rates are based on credit history and loan term, and every loan is subject to credit approval. Not sure where you stand? Apply, and a local mortgage officer will walk through your options with you. |
How much house can I afford? |
Run the numbers before you shop. Estimate my monthly payment → |
What are today's featured rates? |
They're live, at right. Featured rates carry a 45-day rate lock and a maximum 97% loan-to-value; your rate may differ based on loan-level pricing. Credit Union membership required. |
What is an adjustable-rate mortgage? |
The rate is fixed for a set period, then adjusts periodically. A lower initial rate can help lift you into your home. |
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What do 3/1, 5/1 and 7/1 mean? |
The first number is how many years the rate stays fixed; the second is how often it can change after that — once a year. |
When does an ARM make sense? |
If you plan to sell in a few years or want more buying power up front. |
What happens after the fixed period? |
The rate indexes to the 1-year CMT (floor 2.75%) and your payment may increase. Loans over 80% LTV require mortgage insurance. |
What are today's ARM rates? |
Live, at right. Subject to credit approval; actual rate depends on credit history and term. |
What is a home equity loan? |
A fixed-rate loan against the equity in your home, paid back over a set term. |
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How much equity do I have? |
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What terms are available? |
Up to 60 months (5-year) or up to 120 months (10-year). Other credit qualifications may apply. |
What are today's home equity rates? |
Live, at right. Rates subject to change and based on creditworthiness. |
What is a HELOC? |
A variable-rate line of credit secured by your home that you draw on as you need it, with terms up to 120 months. |
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How is the rate set? |
Wall Street Journal Prime rate plus a disclosed margin, so it moves with Prime. |
What else should I know? |
Property insurance is required. Rates subject to change and based on creditworthiness. |
What is today's HELOC rate? |
Live, at right. |
When should I refinance? |
To save money, change your term or access cash for other goals. Change is unavoidable; you don't have to stress it. |
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What does it cost? |
$795 closing costs2. |
How short can my term be? |
Terms as low as 10 years, fixed-rate financing. |
What are today's rates? |
Featured rates cover first mortgages and refinances; live, at right. |
Do you finance construction? |
Yes: low APR*, low payments during construction, loan limit up to 90%, discounted end-loan closing costs. |
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Second home or rental? |
Fixed-rate mortgages for second homes and 1–4 family rental properties. |
Lot loans and investment properties? |
Yes, both. Rates are by quote. |
How do I get a rate? |
Apply or talk to a local mortgage officer; these products are priced individually. |
Rates by quote.
A local mortgage officer will price your project.
Contact a FirstCCU Mortgage Specialist
We're here to help! From exploring your options to closing on your new mortgage, First Community Credit Union's mortgage specialists always keep the focus on you.
Wisconsin - Janesville and Monroe | Illinois - Freeport and Rockford
Chad Perkins NMLS #523678
(608)-368-7682 or [email protected]
Wisconsin - Beloit | Illinois - Roscoe and Rockford
Toni Brown NMLS #466943
(608)-313-8905 or [email protected]
First Community Credit Union is a member-owned financial co-op serving nine full-service branch locations in Beloit on Park Ave or Willowbrook Rd, Janesville, and Monroe, Wisconsin and Freeport, Rockford on Riverside Dr or State St., Belvidere, and Roscoe, Illinois. 
*APR is annual percentage rate. Rates are subject to change. No annual fees. Offer is subject to normal credit qualifications. Rates are subject to change, but cannot exceed 12%. Some restrictions may apply. When refinancing current First Community Credit Union Home Equity Lines of Credit, limit must increase by a minimum of $5,000 or greater to qualify for introductory rate. New HELOC eligibility requirements apply.
1 After the 6-month introductory period, the rate will revert to Prime Rate as published in The Wall Street Journal or Prime Rate plus or minus a margin. The actual rate will be based upon your creditworthiness and loan-to-value. Property insurance is required. Limited time offer subject to end without notice.
2 Applies to first mortgage primary residence properties and refinancing. Closing Costs include; Appraisal, Credit Report, Flood Determination, Document Preparation, Quality Control and Tax Service Fees; Excludes Title, Prepaid items, Escrow funding, Recording fees and all other miscellaneous costs. Rates and fees vary based on such factors such as credit scores, loan-to-value ratio, type of property and amount of loan. FirstCCU reserves the right to require reimbursement for the cost of the appraisal if your loan application is canceled for any reason other than denial of credit. Lender Title Policy required. Servicing will be done by Midwest Loan Services. Any specialty fees (Quick Claim Deeds, appraisals, or recording fees for old title liens will be passed on to the borrower). Other Mortgage products offered will be normal qualifications and costs to member. If debt ratio exceeds 43%, must use standard mortgage products with DU Eligible and sell to FHLB.
3 Estimated savings of credit union membership are calculated by average credit union loan interest rates and fees compared to average bank savings loan interest rates and fees.
Equal Housing Opportunity.
NMLS #401913
