Mortgage Specials

IMCU is always working to provide you the best rates available for all products and services.  See below for special mortgage offers!

$1,000 Lender Credit special 

Indiana Members Credit Union is offering a Closing Cost Special to Members meeting the criteria below for conforming 3/3 and 5/5 Adjustable Rate Mortgages (ARM) programs.  Credit qualification is required.

Loan Purpose

            Loan Limit

   Maximum LTV/CLTV    

Purchase or Rate/Term Refinance      

    $100,000 - $726,200          

95%1 / 95%

Cash Out Refinance

    $100,000 - $726,200

80% / 80%

1Subject to Private Mortgage Insurance approval for LTV’s greater than 80%


PROPERTY REQUIREMENTS

  • Primary Residence
  • Single Family Residence includes Condominium and Planned Unit Development (PUD)

CREDIT REQUIREMENTS

  • Credit Score minimum 660

LOAN PROGRAMS2

  • Conforming 3/3 and 5/5 ARMs including Construction and Renovation Loans

 2PMI Waiver Loans are not eligible for Closing Cost Special


HOW THE CLOSING COST CREDIT IS APPLIED           

  • Lender credit will be given at closing in the amount equal to the closing costs.
  • Lender credit may not include funds required for down payment, prepaid interest, mortgage insurance, property taxes, hazard or flood insurance, condominium questionnaire or association fees.
  • Purchase Contracts containing Seller Credits designated toward a specific closing cost (i.e. Owner’s Title Policy) will be applied as stated in the Purchase Contract. All other Seller and Realtor Credits will be applied toward applicable prepaid escrow amounts. Seller and Realtor Credits exceeding the actual cost of the transaction may not be applied in their entirety.


Underwriting approval and financing is subject to satisfactory documentation, including but not limited to: appraisal; verifications of employment, income and assets; credit report/credit updates and property title search. Loans not approved under these conditions will not be eligible for a $1,000 CLOSING COST Special. Ineligible loan applicants may be offered an alternate program with secondary market financing. If an alternate program is offered, IMCU will consider this a change of circumstance and will review any new terms and conditions that apply.

30 year home equity line-of-credit intro rate 3.9% apr1 for 180 days.

Enjoy the special offer of 3.9% APR1 for 180 days on your new IMCU 30 Year HELOC starting January 1, 2023 or advance an aggregate of $10,000 or more on your existing 30 Year HELOC from January 15th - July 31st, and receive a special rate of 3.9% APR through December 31st, 2023!







1Annual Percentage Rate. This rate (effective January 1, 2023) is a special limited time offer and subject to change without notice. This rate is only available for owner occupied single family residences. Certain restrictions and conditions apply. Introductory rate of 3.90% APR applies to new 30 Year home equity lines-of-credit opened on or after January 1, 2023 and does not apply to refinances of existing IMCU home equity lines. After the first 180 days, all balances convert to the variable rate APR based on an index of the Prime Rate published in the Wall Street Journal. (As of February 2, 2023, APRs are 7.75% (Prime Rate) to 10.25% (Prime Rate + 2.5%), with a maximum rate of 21% or highest rate allowable by law. LTV is based on the Indiana Members Credit Union approved valuation method. For HELOCs $400,000 and greater, additional fees may be required for appraisal, title search, flood determination and filing fees. Property owner must supply proof of insurance. IMCU home equity lines may be eligible for interest only payment option. Consult your tax advisor regarding deductibility.

For existing IMCU Members with a 30 Year Home Equity Line of Credit that advance an aggregate of $10,000 or more between January 15, 2023 and July 31, 2023 will receive a special rate of 3.9% through the remainder of 2023.  This rate is only available for owner occupied single family residences.  After the first 180 days, all balances convert to the variable rate APR based on an index of the Prime Rate published in the Wall Street Journal. (As of February 2, 2023, APRs are 7.75% (Prime Rate) to 10.25% (Prime Rate + 2.5%), with a maximum rate of 21% or highest rate allowable by law.


Indiana Members Credit Union is federally insured by the National Credit Union Association. Equal Housing Opportunity Lender. NMLS # 402492.


40 year home equity line-of-credit intro rate 4.5% apr2 for 180 days.

Enjoy the special offer of 4.5% APR1 for 180 days on your new IMCU 30 Year HELOC starting January 1, 2023 or advance an aggregate of $10,000 or more on your existing 30 Year HELOC from January 15th - July 31st, and receive a special rate of 4.5% APR through December 31st, 2023!


 
 
 
 
1Annual Percentage Rate. This rate (effective 1/1/2023) is a special limited time offer and subject to change without notice. This rate is only available for owner occupied single family residences. Certain restrictions and conditions apply. Introductory rate of 4.50% APR applies to new 40 Year home equity lines-of-credit opened on or after January 1, 2023 and does not apply to refinances of existing IMCU home equity lines. After the first 180 days, all balances convert to the variable rate APR based on an index of the Prime Rate published in the Wall Street Journal. (As of February 2, 2023, APRs are 8.25% (Prime Rate + 0.5%) to 10.75% (Prime Rate + 3.0%), with a maximum rate of 21% or highest rate allowable by law. LTV is based on the Indiana Members Credit Union approved valuation method. For HELOCs $400,000 and greater, additional fees may be required for appraisal, title search, flood determination and filing fees. Property owner must supply proof of insurance. IMCU home equity lines may be eligible for interest only payment option. Consult your tax advisor regarding deductibility.

For existing IMCU Members with a 40 Year Home Equity Line of Credit that advance an aggregate of $10,000 or more between January 15, 2023 and July 31, 2023 will receive a special rate of 4.5% through the remainder of 2023.  This rate is only available for owner occupied single family residences.  After the first 180 days, all balances convert to the variable rate APR based on an index of the Prime Rate published in the Wall Street Journal. (As of February 2, 2023, APRs are 8.25% (Prime Rate + 0.5%) to 10.75% (Prime Rate + 3.0%), with a maximum rate of 21% or highest rate allowable by law.


Indiana Members Credit Union is federally insured by the National Credit Union Association. Equal Housing Opportunity Lender. NMLS # 402492.