Your Dream Home Is Waiting
Ready to turn house-hunting into home-owning? A mortgage loan is simply a loan that helps you buy a home, and we're here to make it surprisingly straightforward. Whether you're buying your first place, upgrading to something bigger, or refinancing your current mortgage to save money, we've got your back.
Our local mortgage experts love walking members through every step. No confusing jargon, no surprises, just friendly guidance that fits your budget and goals.
Moving Up or Downsizing?
Life changes, and your home should too. Whether you're expanding for a growing family, downsizing for retirement, or snagging that dream cabin, we'll help you navigate the move smoothly.
Upgrading
We can help you time everything perfectly. Bridge loans can cover the gap if you need to buy before selling, or we can structure your new mortgage to close right when your current home sells. No more stressing about overlapping payments or temporary housing.
Downsizing?
You might have more equity than you realize. We'll help you understand how much cash you'll walk away with and explore whether a smaller mortgage makes sense or if paying cash gives you more negotiating power. Many members are surprised by how much financial freedom downsizing can create.
Already Own But Want to Save?
Refinancing your mortgage could help you:
- Lower your monthly payment with today's rates
- Pay off your home faster with a shorter term
- Cash out some equity for home improvements
- Roll high-interest debt into one manageable payment
Timing matters with refinancing. Generally, if current rates are at least half a percent lower than your existing rate, refinancing could make financial sense. But we'll crunch the numbers with you, factoring in closing costs and how long you plan to stay in your home, to make sure it's worth it.
Rate-and-term refinancing lets you snag a better interest rate or change your loan length without borrowing extra money. Want to pay off your home faster? Switch from a 30-year to a 15-year mortgage. Your monthly payment might go up slightly, but you'll save thousands in interest over the life of the loan.
First Home?
We get it... buying your first home feels huge! That's why we offer free home-buying seminars where you can ask all those "Is this normal?" questions. You'll learn the process, understand what to expect, and leave feeling confident about your next steps.
Worried about your credit score? Don't be! Many first-time buyers think they need perfect credit, but we work with members at all credit levels. We'll review your situation and help you understand exactly what you qualify for, and if you need to boost your score first, we'll show you how.
Our mortgage pre-approval process is super helpful when you're ready to start shopping. It tells you exactly how much house you can afford and shows sellers you're serious. Think of it as your golden ticket to house-hunting with confidence!
Let Us Watch the Market For You
Want to know when rates hit your target? Sign up for rate alerts and we'll ping you when it's time to make your move. No pressure, just helpful heads-ups when the numbers work in your favor.
| Name | Rates | APR^ | Points | Monthly Payment | |
|---|---|---|---|---|---|
| Conventional 15-Year Fixed | 5.875% | 5.971% | 0.00% | $2,092.80 | ^ |
| Conventional 30-Year Fixed | 6.500% | 6.560% | 0.00% | $1,580.17 | ^ |
| VA 30-Year Fixed | 6.000% | 6.260% | 0.00% | $1,531.10 | ^ |
| VA IRRRL 30-Year Fixed | 5.750% | 5.856% | 0.00% | $1,466.23 | ^ |
| 30-Year Fixed Refinance | 6.500% | 6.574% | 0.00% | $1,580.17 | ^ |
Need a Realtor?
SharePoint Credit Union has a network of realtors who offer exclusive discounts for our members! Simply complete the form below and two local realtors will contact you within two business days to help make your home-buying journey even more affordable.
Calculators
Clear answers for your home financing questions. Compare scenarios and find the right fit for your budget.
Home Buying Seminar
We’re here to help you move forward. Sign up for an one-on-one seminar to better understand every step of the home-buying journey.
Member-Only Savings
Why pay more for home insurance? Discover discounted rates and trusted protection designed specifically for credit union members.
Mortgage FAQs
If you are looking to purchase a home, we recommend getting pre-approved as soon as possible. Even if you aren’t looking to buy immediately, getting pre-approved will give you time to correct anything on your credit report and time to increase your credit score to ensure you get the best interest rate.
VA loan – no down payment requirement
Conventional – 3% for first-time home buyers, if you have owned a home in the past 3 years then 5% is the minimum down payment requirement.
FHA – 3.5% down payment requirement
VA loan – A loan that is available for eligible veterans. VA loans typically do not require a down payment, will be more lenient on credit history, and have a lower interest rate. If you are a veteran or active-duty military, SharePoint can help you determine if you are eligible for a VA loan.
Conventional – Conventional loans are your best option if you have good credit and are able to contribute 3%-5% (depending on if you are a first-time homebuyer) or more as a down payment. When you have less than a 20% down payment mortgage insurance will be required on a Conventional loan, but will drop off when your loan balance gets paid down to 78% of the initial purchase value of the property.
FHA - FHA loans are insured by the Federal Housing Administration. FHA loans provide a low-down payment option at 3.5% and are more lenient on credit issues. However, there are more fees associated with an FHA loan and mortgage insurance does not drop off on an FHA loan.
VA loan – A loan that is available for eligible veterans. VA loans typically do not require a down payment, will be more lenient on credit history, and have a lower interest rate. If you are a veteran or active-duty military, SharePoint can help you determine if you are eligible for a VA loan.
Conventional – Conventional loans are your best option if you have good credit and are able to contribute 3%-5% (depending on if you are a first-time homebuyer) or more as a down payment. When you have less than a 20% down payment mortgage insurance will be required on a Conventional loan, but will drop off when your loan balance gets paid down to 78% of the initial purchase value of the property.
FHA - FHA loans are insured by the Federal Housing Administration. FHA loans provide a low-down payment option at 3.5% and are more lenient on credit issues. However, there are more fees associated with an FHA loan and mortgage insurance does not drop off on an FHA loan.
To avoid paying mortgage insurance on a conventional loan, a 20% down payment is required.
The first step would be for you to complete a personal budget to determine how much you can afford to spend on a home. Once you complete a budget, you will want to start the pre-approval process to determine how much you will qualify for.
Yes, we are able to assist you with your mortgage in all 50 states.
Yes, you can use SharePoint as little or as much as you’d like.
A pre-approval is valid for four months. After four months, the credit report expires and a new credit report must be pulled.
SharePoint is a local, not-for-profit member owned financial cooperative that is easy to do business with. Our knowledgeable mortgage team will provide choice, convenience, and flexibility while we work to give you the best value to reach your goals. You will receive exceptional service during your loan process, as well as any future needs you may have.
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