Neighbors Credit Union

Home Loans

Welcome to our Mortgage Center. We offer competitive interest rates, low closing costs and quick turnaround. Most loans close in 30 days or less!

Our home loan program offers the following features:

Personalized consultation with an on the spot pre-approval
Loans for primary residence, investment homes, rental homes and single family vacation homes
Automatic debit for monthly payments
Purchase transactions and refinances
Low closing costs
Competitive rates

With the various loan plans that are available, there's sure to be one that fits your needs.

Fixed rate loans with terms of 10, 15, 20, 30, and 40 years
97% financing on single family or two family owner occupied homes (certain restrictions apply)
FHA and VA home loans available
3-1 and 5-1 Adjustable Rate Mortgages (ARMs)
- 3-1 ARM refers to a rate which is constant for 3 years, then adjusts annually thereafter.²
- 5-1 ARM refers to a rate which is constant for 5 years, then adjusts annually thereafter.²
^2. Offers lower, constant rates at first, then rates are adjusted on a regular basis in relation to the 1 year U.S. Treasury Constant Maturity Index.

For more information and to be contacted by a mortgage specialist, please click here.

First-Time Home Buyer
Neighbors Credit Union, along with First Integrity Mortgage Services and the Missouri Housing Development Commission (MHDC), have teamed up to offer our members the best home mortgage program for first time home buyers. Our First Time Home Buyers program offers benefits you can't get with other financing:

Receive funds for down payment and closing costs
Pay reduced interest rates
Enjoy reduced monthly payments
Credit union members can further reduce their monthly payments as well as receive payment protection in case of job loss (MHDC conventional)
Purchase a home up to a maximum sales price of $237,000
Use to finance single family, duplex, and approved condominiums - can be used for new construction housing
Our mortgage partner, First Integrity Mortgage Services, is among a select group to be named both a MHDC Certified Lender and an FHA Approved Lender. This means the process will be hassle free and there will be no surprises at loan closing

For more information or to apply for our First Time Home Buyers program, click here.

Reverse Mortgage
A Reverse Mortgage is a loan that enables homeowners age 62+ to convert part of their equity in their homes into tax-free income without having to sell their home, give up the title, or take on new monthly mortgage payments. A Reverse Mortgage can be a valuable financial planning tool for your retirement years. But, this does not mean a Reverse Mortgage is for everyone.

To learn more about Reverse Mortgages attend our free Reverse Mortgage Seminar on January 15, February 19, or March 19, 2009. Call the Marketing Department at 314-892-5400 to reserve your seat.

ValueCheck

Find out the value of your home, or a home you might be interested in purchasing. Simply enter the street address and find out valuable property information with this free service for Neighbors Credit Union members!

Educational Resources
Home Loan Calculator. Find out how much your payments would be.

Home Buying Guide
From shopping to buying strategies, use our home buying coach to learn everything you need to know about purchasing a home.

Early Delinquency Intervention
It is important to act quickly and be informed of all available options if making the mortgage payments seems out of reach. To learn about your available options and the process of negotiating with the lender to prevent delinquencies, visit BALANCE's educational course.

For more information on Neighbors Credit Union Real Estate Loans, call 1-800-325-2697 and ask for the Real Estate department or email us your questions and concerns.