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Mortgage Loans

"Keep doing what you're doing, because at Arsenal, I feel at home!"

Michael B.
  • Friendly

    Get in touch with your loan officer when you need to

  • Flexible

    A mortgage loan to fit every financial situation

  • Apply Now!

Buying a home doesn't have to be scary

Yes, it’s a big decision. No, it doesn’t have to be overwhelming. We make it easier with a staff that’s eager to guide you through the whole process, plus helpful programs and competitive rates.

Through our partner, Member Home Loan, we offer mortgages tailored to any situation, including fixed-rate, adjustable, balloon, short-term and long-term. Mortgages may be underwritten by Member Home Loan.

You can review a current list of loan originators at Arsenal who are registered with NMLS. For loan officer assistance, call 1.832.912.2151 or email questions@mhlcu.com.

Download  Mortgage Pre-Qualification Form

We're here for you

Whether you’re interested in preapproval or simply want a rate that suits your budget, you’ve come to the right place.

  1. 1

    Convenient preapproval

    Preapproval means we verify your income and assets before you start shopping, so that home sellers know you are serious. This way, you can make an offer as soon as you find a home you love – and you'll look great as a potential buyer.

  2. 2

    Market-ready rates

    We are committed to giving you the best rates possible each and every day, which means your rate may vary depending on when you purchase your home. To check our current rates, call 314.962.6363 and press 4 then 1 (call 618.239.6363 if you are in Illinois). You can also visit Member Home Loan.

  3. 3

    Perks for first-time buyers

    Never bought a home before? We offer special bonuses to first-time homebuyers (or members who haven’t owned a home in three or more years) through First Integrity Mortgage Services. Enjoy below-market interest rates, grants, options for no down payment and more.

Ready to get started?

Begin your mortgage application process right here online.

Apply Now!

Calculator

For more detailed mortgage calculators, please visit Member Home Loan's mortgage calculators page.

Loan Calculator

Format: 12m, 36m, 3y, 7y

FAQs

Generally speaking, you can purchase a home with a value of two times your annual household income. However, the amount that you can borrow will also depend on your employment history, credit history, current savings, current debts and the amount of down payment you plan to make.
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial profile and how long you plan on keeping your house. We will help you evaluate your profile, give you choices and help you make the most appropriate decision.
The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
  • Earnest Money: The deposit made when you make an offer on the house
  • Down Payment: A percentage of the cost of the home that is due at closing
  • Closing Costs: Costs associated with purchasing or refinancing a house
The preapproval process is much more complete than prequalification. For prequalification, the loan officer asks you a few questions and provides you with a prequalification status. Preapproval includes all the steps of a full approval, except for the appraisal and title search. It is verification of income and assets.
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage.
This is an upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "2 points" means a charge equal to 2 percent of the loan balance.
A rate lock is a contractual agreement between the lender and buyer. There are four components to a rate lock: loan program, interest rate, points and the length of the lock.
It is the list of settlement charges that the lender is obliged to provide the borrower within three business days of receiving a complete loan application.
For most homeowners, the monthly mortgage payment includes three separate parts:
  1. Principal: Repayment on the amount borrowed
  2. Interest: Payment to the lender for the amount borrowed
  3. Taxes & Insurance: Monthly payments made into an escrow account for hazard insurance, property taxes and sometimes Home Owner Association dues

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Home insurance

Protect your home and what’s inside it with homeowner’s insurance. Cover yourself against losses or damage from fire, weather, theft and more. Protect yourself from liability if an accident happens on your property. You’ll get the coverage you want from leading insurance companies, the service you deserve and savings that add up. Enjoy discounts for: being a member of Arsenal Credit Union, new home, smoke detectors, burglary and fire alarms, inflation protection and multi-policies. Read more at TruStage.com.

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