Mortgage Specials

Mortgage Specials

Ideal's Mortgage Team works hard to bring you options that fit your needs best. Take a look at our current specials below, then meet with us to learn more about how we can help you achieve your goals.

10/1 ARM Special

Exciting 10/1 ARM Special – Limited Time Offer!**

Unlock Exceptional Savings with Our 10/1 Adjustable-Rate Mortgage

Are you ready to take advantage of one of the best mortgage deals around? Ideal Credit Union is thrilled to announce our exclusive 10/1 Adjustable-Rate Mortgage (ARM) Special, available through December 31st! With an incredible 6.250% Rate, 6.772% APR*, this offer is designed to help you save more on your monthly payments and achieve your home financing goals with confidence.

Why Choose Our 10/1 ARM?

  • Lower initial rates for greater affordability
  • Rate locked in for 10 years, providing peace of mind
  • Ideal for homebuyers planning to move or refinance within a decade
  • Potential for significant savings compared to a 30-year fixed-rate mortgage

Offer available for applications accepted and approved by December 31, 2024. Closing required by May 31, 2025.

Act Now - Limited Availability!

Don't miss this opportunity to take advantage of our competitive rate on 10/1 ARM (Adjustable Rate Mortgage) mortgages. Whether you're a first-time buyer or looking to upgrade, this limited-time offer could be your key to affordable homeownership.

Cabin or Second Home Loan1

Now offering a special rate to purchase a second home or cabin! Apply Now

  • Eligible Four-Season Properties
  • Competitive fixed and adjustable rates
  • Homes located in Minnesota and Wisconsin

Zero Down Mortgage Loan2

Get into your new home sooner with Ideal's Zero Down Mortgage loan. Apply Now

  • Zero down at closing
  • Competitive fixed rate
  • Up to 25-year terms*

Additional Mortgage Programs

Additional products and rates are available, please contact us for more information.

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  • Call 651-747-4663

Ideal Home Loans

Rates as of:

*APR is Annual Percentage Rate. Interest rates are subject to change. Applications that are received during this timeframe must close no later than May 31, 2025. Payment example: For a $250,000 loan on a $312,500 purchase with 20% down, the monthly payment would be $1,539.29. Payments do not include applicable taxes and insurance and may result in higher payments. Rate Lock Adjustment Clause: If the current stated APR of 6.689% prevailing rate decreases within 7 calendar days prior to the closing of the 10/1 ARM loan, Ideal Credit Union will permit a one-time no cost re-lock to the lower the 10/1 ARM APR.

HOW YOUR PAYMENT CAN CHANGE (“Worst Case Scenario”). Your payment can change every 60 month(s) based on changes in the loan term, interest rate, or loan balance. For example, on a $10,000 loan with a 360-month term and an initial rate of 2.875 (based on a margin of 3.000 and index of 2.270 rounded to the nearest 0.125%), the maximum amount that the interest rate can rise under this ARM program is 6.000 percentage points above the initial interest rate and the payment can rise from a first-year payment of $40.82 to a maximum of $60.43 in the 21st year. To see what your payment would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount. For example, the monthly payment for a new loan amount of $60,000 would be $60,000 divided by $10,000 = 6. Multiply the payment amount by this number, e.g. 6 x $40.82 = $244.92.

**ARM is Adjustable Rate Mortgage. See Adjustable-Rate Mortgage Disclosure.

1 Cabin or Second Home Program: Some restrictions may apply. Available for purchase transactions and owner-occupied residence refinance rates will be higher. Less than 20% down payment will require mortgage insurance, subject to mortgage insurance approval. Eligible for four-season homes in Minnesota and Wisconsin only. Hunting shacks or three-season properties are ineligible.

2 Zero Down Mortgage Program: Some restrictions may apply. Available for purchase transactions and owner-occupied residence. Maximum loan amount of $766,550. Subject to mortgage insurance approval. Not eligible for condos or multi-family properties.

3 Ideal Medical & Dental Reduced Coverage Program is available to applicants employed full or part-time in the following professions: Medical Resident, Medical Fellow, Medical Doctor (MD) Pharmacist (RPh)(Must have a PharmD to be eligible for LTVs > 97%), Chiropractor (DC)(Chiropractors are ineligible for LTVs > 97%), Doctor of Optometry (OD), Doctor of Ophthalmology (MD), Doctor of Osteopathy (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery (DDS), Doctor of Dental Medicine (DMD), Doctor of Veterinary Medicine. Mortgage is restricted to the primary residence (purchase only). Proof of current employment will be required. Full disclosures and terms will be provided during consultation with an Ideal Mortgage Loan Advisor. All applicants are subject to credit approval and eligibility for this program does not guarantee an offer of credit. Applicants must also be eligible for membership at Ideal Credit Union. Ideal Credit Union reserves the right to modify and/or cancel this program at any time.