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Mortgage Loans

Helping your homeownership dream become reality. 

You'll feel right at home at Ideal Credit Union

Whether it's your first home or your fifth, purchase or refinance, you have plenty of mortgage options with great rates and a team of lenders to make the application process easy.

First-Time Homebuyers

This program provides down payment assistance, low rates and helpful benefits for qualified borrowers.

Popular Features
  • Financial assistance is available to make buying a first home more affordable
  • Get thousands of dollars of help with down payments and closing costs
  • Benefit from rates designed to help you manage your payments more effectively
    Fixed & Adjustable-Rate Mortgages

    Our most popular home loans provide options to fit your budget and lifestyle. 

    Popular Features
    • Affordable payments start with a competitive rate
    • Flexible loan terms help you find a mortgage payment that fits your budget
    • Refinance your way with flexible options that fit your goals
      FHA Loans

      Low down payments and more flexibility can help open the door to homeownership for you and your family. 

      Popular Features
      • Competitive rates help you find a mortgage that fits your budget
      • Low down payments mean you don't have to save a fortune to buy a home
      • Relaxed credit guidelines open the door to borrowers with less-than-perfect scores 
        Home-Free Program

        This special refinance program gives you access to a below market rate fewer upfront expenses and a chance to shorten your loan term for long term savings.

        Popular Features
        • Lock in a below market rate for long‑term savings
        • Save upfront with reduced closing costs
        • Option of a 10- or 15- year fixed term
          VA Loans

          We're proud to support military personnel who serve our country through special government-backed mortgages.

          Popular Features
          • Exclusively for military members, veterans and surviving spouses
          • VA loans offer 100% financing to help you purchase a home with confidence
          • Competitive rates help keep your monthly payment affordable
            Jumbo Mortgage Loans

            When you're looking for a mortgage beyond $806,500, our jumbo home loan is the perfect size. 

            Popular Features
            • Get a right-sized mortgage for your higher priced home
            • Lower down payment requirements can limit your upfront costs
            • Refinancing options can reduce your interest rate or monthly payments
              Zero Down Mortgage Loan1

              Get into your new home sooner when you don't have to worry about saving up thousands for a down payment. 

              • Zero down at closing
              • Competitive fixed rate
              • Up to 25-year terms*
              Cabin or Second Home Loan2

              Escape to your special place and finance your purchase with a special rate. 

              • Available for eligible four-season properties in Minnesota or Wisconsin
              • Competitive fixed and adjustable rates
              Community Heroes Mortgage Program

              We believe in giving back to local heroes who do so much good in our country and community. If you work in any of these occupations or you're a military veteran, you're eligible for a special 1% down payment offer on a 30-year mortgage with a fixed or adjustable rate.* 

              • Public or private educational institution
              • Fire Department
              • Federal, state or local government law enforcement 
              • Nursing (all designations, including CNA)
              • Active or former military
              • EMTs and paramedics
              Medical & Dental Professionals Reduced Coverage Program3

              If you're just starting your career in medicine or dentistry, this home loan program could be your perfect fit. It's designed for borrowers with high debt-to-income (DTI) ratios due to student loans or employment beginning post-closing. Take advantage of these benefits that are available based on your profession's strong earning potential. 

              • Reduced mortgage insurance premium
              • 100% financing up to $850,000
              • Student debt is excluded for any eligible professional currently in deferment or forbearance that is greater than 12 months
              Lending in 42 states

              Ideal offers home loans in 42 states, with financing up to $806,500. Available on primary residences, second homes or investment properties, these loans can be used to purchase or refinance an out-of-state home.

              Home Buying & Selling Seminars

              Make plans to attend one of our upcoming free seminars to pick up helpful information about buying and selling a home.

              Learn More
              Real Estate Center

              Research helpful videos and information about the basics of buying a home so you know what to expect during the process. 

              Learn More
              Disclaimers

              1 Zero Down Mortgage Program: Some restrictions may apply. Available for purchase transactions and owner-occupied residence. Maximum loan amount of $832,750. Subject to mortgage insurance approval. Not eligible for condos or multi-family properties.

              2 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.

              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, Physician Assistants (APs). 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.

              *Payment example: On a $250,000 home loan at 6.031% APR for a 30-year term, monthly payments would be $1,478.84 per month. Payments do not include applicable taxes and insurance and may result in higher payments.

              Ideal Community Heroes Mortgage Program is available to applicants employed full or part-time in the following areas or are current/former military: Public or private educational institution, Fire Department, Federal, State or Local Government Law Enforcement Agency, Nursing (all designations), Active or formal Military, EMTs and Paramedics. Mortgage is restricted to the primary residence (purchase only).Proof of current employment and/or former military service 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.

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