Mortgage Loans

SPIRE Mortgage Loans

SPIRE is committed to making your mortgage experience enjoyable and efficient so you can make your dream home a reality.

Options

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Pick the best type of mortgage loan for you.
Mortgage Options

Rates

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Compare rates and save with SPIRE loans.

Property

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Finance your investment properties with SPIRE.

Specials

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Take advantage of our mortgage specials.
Mortgage Specials

Conventional Loan Options

Your mortgage loan stays local as SPIRE services each of these loans. Find the right loan for you with our full range of mortgage loan options.  As a rule of thumb, the longer term you select, the higher the interest rate, but the lower the payment.  You will end up paying more in interest over the life of the loan with a 30-year term vs. a 15-year term. However, you can pay your mortgage off at any time with NO pre-payment penalties.

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Adjustable Rate Mortgage (ARM) Loan

  • Lower initial rate during the fixed period.
  • Save interest if you do not plan to live in a home for 30 years.
  • Rate Re-lock guarantee .
  • Hybrid terms available 5/1, 7/1, and 10/1.

Rate-Relock Option for ARM Loans NEW!

  • Control your payment by re-locking your rate to a current rate.
  • The newly re-locked rate will be applied to the remaining term and principal balance of your existing SPIRE ARM.
  • No application, credit check, or appraisal needed! Fee applies.

Fixed Rate Loan

  • The principal and interest payment stays the same.
  • Competitive Interest Rates.
  • Purchase or Refinance.

Home Ready Program

  • Low down payment.
  • Flexible down payment sources.
  • No upfront Mortgage Insurance cost.
  • Lower monthly MI.
  • Have low to moderate income.

Jumbo Loan

  • For higher priced properties.
  • For loan amounts over $484,350.
  • 15 year fixed and ARM loans available.

Land Loan

  • For recreational use or future residence construction.
  • Up to 15 year fixed term.
  • Maximum LTV is 65%.
  • Maximum loan amount $150,000.
  • Up to 50 acres.

Homes Loans for Community Heroes

Strong communities depend on a mix of residents. As home prices increase, homeownership may seem out of reach. Down payments are often the biggest obstacle for would-be home owners. SPIRE wants to make the dream of homeownership obtainable for our community heroes and honor their service.

Available on Adjustable Rate Mortgages (ARM), just 1% down payment required!
 
Community Heroes include full or part-time workers in the following fields:
   Public or private educational institution
   Fire Department
   Police Department
   Nurses
   Active or Former Military
   EMTs & Paramedics

Applicants must meet membership requirements. Subject to credit approval and program eligibility. Community Heroes program available on Adjustable Rate Mortgages (ARM) with a minimum down payment of 1% of purchase price. Property must be primary residence in MN or WI. Property insurance is required.
 

Government Loans

Government loans are insured or guaranteed by the Federal government.  These loans are serviced by our partner, Servion.

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FHA Loan

  • Low down payment.
  • Limited credit history allowed.
  • Fixed Rate.

USDA Rural Housing Loan

  • Property in a rural area.
  • Moderate to low income.
  • No down payment.
  • Low monthly mortgage insurance.

VA Loan

  • Available to Veterans and their spouses.
  • No down payment requirement.
  • No mortgage Insurance.
  • Fixed Rate.

Rates

Adjustable Rate Mortgage (ARM)
Fixed Rate Loans

Fixed Rate LoansRates Effective: 9/20/2019

Program Name Rate APR* Payment
15 Year Fixed3.375%3.588%$1240.33
20 Year Fixed3.750%3.918%$1037.55
30 Year Fixed3.875%3.997%$822.91
Land Loan8.740%9.014%$1748
Government Loans

VIEW ALL RATES View all Rates icon
*APR = Annual Percentage Rate. Automatic payment is required. Principal & interest payment based on loan amount of $175,000. SPIRE does escrow for taxes or insurance. Payment estimates do not include taxes or insurance; actual payments may be higher. Maximum loan amount is $750,000. Minimum loan amount is $15,000. Property must be the primary or secondary residence and property insurance is required. Residential properties only located in MN or WI. Appraisal required. If the loan does not close, the cost of the appraisal will not be refunded. Rates and terms are subject to qualification and may change at any time. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Refinance Your Current Mortgage

Only Pay up to $500 in Closing Costs+

Available on fixed and Adjustable Rate loans listed below.

Why Refinance?

If you’ve been in your home a while, interest rates may be much lower now. When you refinance to lower your interest rate, your monthly payment will also be lower, saving you money over the life of your loan. Some refinance to take “cash out.” This would be an option if you have built equity in your current home and you would like to use that equity to make home improvements, consolidate debt or for anything you wish. Based on the amount of equity your home, the closing costs may be rolled into your loan.

+APR =  Annual Percentage Rate. Automatic payment is required. Principal & interest payment based on loan amount of $175,000. SPIRE does escrow for taxes or insurance. Payment estimates do not include taxes or insurance; actual payments may be higher. Minimum Loan amount is $15,000 and Maximum loan amount is $750,000. A minimum of $10,000 must be new money at SPIRE. Property must be the primary or secondary residence and property insurance is required. Residential properties only located in MN or WI. Commercial, agriculture and large acreage properties excluded from offer. SPIRE member responsible to pay $500 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. SPIRE will pay closing costs in excess of $500.00 and does not include the fee for a potential subordination agreement or the cost to change fee ownership. Offer subject to termination at any time. Rates and terms are subject to qualification and may change at any time. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Rates

Refinance $500 Closing Cost SpecialRates Effective: 9/20/2019

Program Name Rate APR+ Payment
10/1 ARM Refi3.375%4.421%$773.67
7/1 ARM Refi3.250%4.591%$761.61
5/1 ARM Refi3.125%4.723%$749.66
5 Year Fixed3.750%3.814%$3203.19
7 Year Fixed3.750%3.796%$2371.95
10 Year Refi3.750%3.783%$1751.07
15 Year Fixed3.750%3.773%$1272.64

VIEW ALL RATES View all Rates icon

+APR =  Annual Percentage Rate. Automatic payment is required. Principal & interest payment based on loan amount of $175,000. SPIRE does escrow for taxes or insurance. Payment estimates do not include taxes or insurance; actual payments may be higher. Minimum Loan amount is $15,000 and Maximum loan amount is $750,000. A minimum of $10,000 must be new money at SPIRE. Property must be the primary or secondary residence and property insurance is required. Residential properties only located in MN or WI. Commercial, agriculture and large acreage properties excluded from offer. SPIRE member responsible to pay $500 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. SPIRE will pay closing costs in excess of $500.00 and does not include the fee for a potential subordination agreement or the cost to change fee ownership. Offer subject to termination at any time. Rates and terms are subject to qualification and may change at any time. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Find Your Dream Home

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Get approved, find an agent, and close with confidence.

Calculate Your Mortgage

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Find out how much your payments will be each month.

6Limited to 3 properties per owner. Property must be an investment property located in MN. SPIRE member responsible to pay $1,000 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. SPIRE will pay closing costs in excess of $1,000. Offer subject to termination at any time. Rates and terms are subject to qualification and may change at any time. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Disclosures

NMLS #469510
NMLS Active Numbers

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