Indiana Members Credit Union offers a variety of loan programs. IMCU mortgage experts can provide information about FHA, conventional, fixed, adjustable, jumbo mortgage loan programs, and more. Our members and REALTORS® refer a great number of our applicants to us, which demonstrates the success of our service-first approach to lending. NMLS # 402492
Limited time offer – check out Best Mortgage Fixed Rates for Community Affordable Mortgage with Loan amounts $30,000 to $200,000 for Primary Residence
The rates above are based on a 45 day lock period for a Purchase or Cash out Refinance with a Loan Amount of $200,000 down to $30,000. Credit Score 720 Single Family Primary Residence. Rates subject to change without notice; Rates/Fees, Closing Cost Specials & Service Retained not guaranteed (Other terms/products available). Rates are only available for 30 year terms.
The rates above are based on a 45 day lock period for a Purchase or Rate/Term Refinance with a Loan Amount of $260,000 Credit Score 740 Single Family Primary Residence. Rates subject to change without notice; Rates/Fees, Closing Cost Specials & Service Retained not guaranteed (Other terms/products available).
For more rates, or a personalized quote, click "Get Quote" below!
Click apply now to connect with a Loan Officer.
Home Equity Rates| 30 Year Interest Only Line-of-Credit | 40 Year Interest Only Line-of-Credit | |
|---|---|---|
| Intro Rate | 3.9% 1 | 4.5% 2 |
| Overall Limitation | 90% of appraised value, less balance of 1st mortgage | 90% of appraised value, less balance of 1st mortgage |
| Draw Period | 5 Years | 5 Years |
| Rate | Variable, based on Prime + Margin | Variable, based on Prime + Margin |
| Monthly Payment | The monthly payment will be calculated by the interest of the loan balance at the end of the month. | The monthly payment will be calculated by the interest of the loan balance at the end of the month. |
| Current Rate (80% LTV and less) as low as | 8.50% APR 3 | 9.00% APR 3 |
| 30 Year Home Equity Line of Credit | 40 Year Home Equity Line of Credit | |
|---|---|---|
| Intro Rate | 3.9% 1 | 4.5% 2 |
| Overall Limitation | 95% of appraised value, less balance of 1st mortgage | 95% of appraised value, less balance of 1st mortgage |
| Draw Period | 5 Years | 5 Years |
| Rate | Variable, Based on Prime + Margin | Variable, Based on Prime + Margin |
| Monthly Payment | The monthly payment will be calculated at 1% of the loan balance at the time of the last draw | The monthly payment will be calculated at 1% of the loan balance at the time of the last draw |
| Current Rate (80% LTV and less) as low as | 8.50% APR 3 | 9.00% APR 3 |
1 Closing Costs: Effective with applications dated September 1, 2024 Appraisal (both exterior only and interior/exterior) fees incurred during the origination of the loan must be paid at closing. Appraisals are required on all loan amounts more than $125,000. 2 Intro Rate Annual Percentage Rate. This rate (effective January 1, 2024) is a special limited time offer and subject to change without notice. Introductory rate of 3.90% APR applies to new 30 Year home equity lines-of-credit opened on or after January 1, 2024 and does not apply to refinances of existing IMCU home equity lines. This rate is only available for owner occupied single family residences. Certain restrictions and conditions apply. $5,000 minimum loan amount. After the first 180 days, all balances convert to the variable rate APR based on an index plus a margin. The variable rate is based on the highest Prime Rate (the index) as published in the Wall Street Journal in effect on the last Tuesday of the calendar month, currently 8.50% APR. The APR for the Home Equity Line of Credit may increase or decrease, but will never fall below 2.75% and will never exceed a maximum rate of 21.00% or highest rate allowable by law. The margin is 0.00% to 2.50%, depending upon credit worthiness, term, credit score and combined loan-to-value (CLTV). As of July 26, 2023, the Prime Rate was 8.5%, so APRs are 8.50% (Prime Rate + 0.00% margin) to 11.00% (Prime Rate + 2.5% margin). Credit advances may be taken for 5 years (draw period) and renewed up to a total of 15 years. A repayment period for a minimum of the remaining 15 year term will require, at minimum a monthly payment of the finance charges (accrued interest) for the prior month. Depending on the terms of your loan, if you made the minimum payments due each month, your loan may have a balloon payment due at maturity of the full amount drawn. CLTV is based on the Indiana Members Credit Union approved valuation method. IMCU home equity lines may be eligible for interest only payment option. Consult your tax advisor regarding deductibility. Certain restrictions and conditions apply. Property owner must supply proof of insurance. NMLS # 402492.
2 Closing Costs: Effective with applications dated September 1, 2024 Appraisal (both exterior only and interior/exterior) fees incurred during the origination of the loan must be paid at closing. Appraisals are required on all loan amounts more than $125,000. 3 Intro Rate Annual Percentage Rate. This rate (effective January 1, 2024) is a special limited time offer and subject to change without notice. Introductory rate of 4.50% APR applies to new 40 Year home equity lines-of-credit opened on or after January 1, 2024 and does not apply to refinances of existing IMCU home equity lines. This rate is only available for owner occupied single family residences. Certain restrictions and conditions apply. $5,000 minimum loan amount. After the first 180 days, all balances convert to the variable rate APR based on an index plus a margin. The variable rate is based on the highest Prime Rate (the index) as published in the Wall Street Journal in effect on the last Tuesday of the calendar month, currently 8.50% APR. The APR for the Home Equity Line of Credit may increase or decrease, but will never fall below 2.75% and will never exceed a maximum rate of 21.00% or highest rate allowable by law. The margin is 0.00% to 3.00%, depending upon credit worthiness, term, credit score and combined loan-to-value (CLTV). As of July 26, 2023, the Prime Rate was 8.5%, so APRs are 9.0% (Prime Rate + 0.50% margin) to 11.50% (Prime Rate + 3.0% margin). Credit advances may be taken for 5 years (draw period) and renewed up to a total of 20 years. A repayment period for a minimum of the remaining 20 year term will require, at minimum a monthly payment of the finance charges (accrued interest) for the prior month. Depending on the terms of your loan, if you made the minimum payments due each month, your loan may have a balloon payment due at maturity of the full amount drawn. CLTV is based on the Indiana Members Credit Union approved valuation method. IMCU home equity lines may be eligible for interest only payment option. Consult your tax advisor regarding deductibility. Certain restrictions and conditions apply. Property owner must supply proof of insurance. NMLS # 402492.
3 Annual Percentage Rate. Rate effective July 26, 2023 and subject to change. Rates are based on an index of Prime Rate published in the Wall Street Journal on the last Tuesday of the month plus a margin. IMCU rates change the first of the month. Rates may vary based on credit scores and CLTV. Stated Rate requires maximum 80% CLTV and minimum FICO score of 680. Maximum rate is 21%. Subject to credit approval. Owner occupied properties only. Regardless of minimum payment, you may always choose to pay more.
4 Rate effective 09/02/2024 and subject to change. Stated Rate requires 80% maximum CLTV and minimum FICO 720. A $5,000 loan with a 5-Year term at 6.375 APR has payments of $97.54 per month. Longer terms and other rates available. Rates and maximum CLTV vary based on credit score and DTI. Subject to credit approval. Owner occupied properties only. Consult your tax advisor regarding deductibility. Regardless of minimum payment, you may always choose to pay more..