Demystifying the homebuying process: Mortgage loans in St. Louis

Planning a wedding. Finding a new job. Buying a home. These are supposed to be life’s most exciting milestones but can also be the most stressful. In fact, more than 65 percent of Gen Z buyers said they were brought to tears by the homebuying process.

That’s not an acceptable percentage for us. Our mortgage program is designed to take the anxiety out of one of the biggest decisions of your life.

Save up to $500

Even a small mortgage is a big deal. From 4.1.2024 through 5.31.2024, appraisals are on us when you finance your home here. Contact mortgage loan officer, Jon DeBold, to get started now. Or, fill out the quick form below.

Arsenal may pay for appraisal on mortgages financed through the credit union. If the borrower repays the loan within the first 12 months, they must reimburse the credit union for the cost of appraisal. Savings account with $5.00 min. deposit required to join Arsenal. We will make this initial deposit for you.

A guide for your home-buying journey

At Arsenal, we take care of every step of your mortgage in-house. A mortgage specialist will be with you every step of the way to make the process as transparent as possible and to answer any questions you may have, including, but not limited to:

  • How do I know how much I can afford?
  • How much will I need for a down payment?
  • How do I know which type of mortgage is best for me?

You can also view a current list of loan originators at Arsenal who are registered with NMLS.

Different loan types

When you apply, we’ll help you find the home loan that fits your unique situation. We offer many products for different needs, but they generally fall into these two categories:

Fixed-rate mortgage

Keeps the same rate throughout the term of your loan.

Predictable and usually more affordable monthly payments.

Available in 10-, 15-, 20- and 30-year terms.

Better if you plan to live in your home for a long time.

Adjustable-rate mortgage

Start with a lower rate, then change as market interest rates change.

1/1, 3/1 and 5/1 products: Interest rates stay the same for 1, 3 or 5 years, then change based on market for the remainder of the term.

Better if you plan to move before the adjustable rate kicks in.

Resources for homebuyers

Mapping out your mortgage

A mortgage is a journey. Work with a guide who can help you carve out the best path forward. Take your journey step-by-step to get the best results.

Learn more

Get into your home faster

There are a lot of players when it comes to purchasing a new home. Coordinating the process between all respective parties takes a little work and a lot of patience.

Learn more

The facts about down payments

How much cash do you need before you can buy a home. The answer may be less than you thought. Plus, learn how you can possibly get assistance.

Learn more

What are people saying?

“From beginning to end, Arsenal Credit Union made the loan process very easy with no stress. Highly recommend!”

Paul B.