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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.

Specials

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Take advantage of our mortgage specials.
Mortgage Specials

Conventional Loan Options

You 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

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.

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: 4/22/2019

Program Name Rate APR* Payment
15 Year Fixed3.625%3.840%$1261.81
20 Year Fixed4.125%4.297%$1072.03
30 Year Fixed4.375%4.502%$873.75
Land Loan8.740%9.014%$1748
Government Loans

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*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

+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 for a fixed rate loan is $750,000 . Minimum loan amount is $15,000. A minimum of $15,000 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. 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.

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.

Rates

Refinance $500 Closing Cost SpecialRates Effective: 4/22/2019

Program Name Rate APR+ Payment
10/1 ARM Refi3.875%4.581%$822.91
7/1 ARM Refi3.750%4.780%$810.45
5/1 ARM Refi3.500%4.873%$785.83
5 Year Fixed3.875%3.940%$3213.03
7 Year Fixed4.000%4.048%$2392.04
10 Year Refi4.125%4.161%$1782.2
15 Year Fixed4.375%4.401%$1327.59

VIEW ALL RATES Link arrow
+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 for a fixed rate loan is $750,000 . Minimum loan amount is $15,000. A minimum of $15,000 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. 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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Calculate Your Mortgage

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Disclosures

NMLS #469510
NMLS Active Numbers

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