Mortgage Loans
Perfect loan. Perfect home.
Whether you’re a first time home buyer or you’re just looking for the perfect new home, we’re here to help. Mortgage loans don’t have to be complicated. When you choose IHMVCU for your mortgage, you get more than a home loan. You get a guide to walk you through the process, before, during and after the purchase.
Our mortgage loans feature:
- Low closing costs
- Competitive rates
- In-house processing and underwriting
- Local servicing
Plus, you benefit from the convenience of 17 branch locations and a robust Online Branch experience, making it easy for you to stay in touch and keep track of your payments.
Find your perfect loan.
Conventional mortgages | Adjustable-rate mortgages (ARMs) | No closing cost loans | FHA, VA, and USDA loans
Conventional Loans
First-time home buyers, 97% max loan-to-value | Current homeowners, 95% max loan-to-value
- Fixed rate mortgages (10, 15, 20, & 30 year terms)
- Adjustable rate mortgages (5/1 ARM)
- Construction loans
- Investment property loans
- Jumbo loans
- Bridge loans
First-Time Home Buyers Programs
IFA (Iowa Finance Authority)
- $2,500 in down payment or closing cost assistance
- As little as 3% down required
DPP (Down Payment Plus)
- Down payment match, up to three times buyer down payment contribution
Government loans*
- FHA financing (Federal Housing Authority)
- 96.5% max loan-to-value
- Available for lower fico scores (minimum of 580)
*all serviced through Plaza Home Mortgage
VA loans*
- Up to 100% max loan-to-value
- Must be a Veteran to apply
*Veterans Affairs loans
USDA* Rural Development loans
- Up to 102% max loan-to-value
- There are restrictions on income and area that property is located
*United States Department of Agriculture
Renovation/Home Improvement Loan
- Improve outdated homes
- Upgrade bathrooms, kitchens, and outdoor living spaces
- Available for purchase or refinance
- Up to 95% loan-to-value of completed value
- No minimum repair amount
Ready to get started? Here's what you need.
Prequalification is the first step on your journey to home ownership. We make it easy to get there. We’re available over the phone, by email or by appointment. When possible, we can even provide same-day approval!
You will need:
- Two recent paystubs
- Previous two years’ W2s and Federal tax returns
- Two months’ checking and savings account statements
- Child support order (if you’re required to pay)
- Signed purchase contract
Looking for a Real Estate Agent?
IHMVCU offers our members a start to finish home buying experience through our partnership with RE/MAX Elite Homes.
Mortgage Calculators
- Calculate a Mortgage Payment
- Rent or Buy?
- Proceeds from Sale of a Home
- Home Affordability
- Compare Two Mortgage Loans
- Adjustable-Rate Mortgage Analyzer
- Time to Refinance?
