Mortgage Loans

Make your dream home a reality.

SPIRE is committed to making your mortgage experience enjoyable and efficient.

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Meet Your Loan Officer

Your loan stays local with our local loan officers.
Talk through your options or apply with your loan officer today!

We believe SPIRE is more than a financial institution. Our Core Purpose is to improve lives and we want to be a partner in life with you.

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Find the right loan for you with our full range of mortgage loan options.

A general rule: The longer term you select, the higher the interest rate will be but your monthly payment will be lower.

You will pay more in interest over the life of a 30-year term vs. a 15-year term.
However, you can pay your mortgage off at any time with no pre-payment penalties.

Fixed-rate Mortgage Loans

A fixed rate loan means your principal and interest payment stays the same
since the interest rate doesn't fluctuate over the term of the loan.

We offer loans for homes located in most states.

SPIRE offers competitive interest rates.

1% Down Payment Option

For qualified borrowers, SPIRE offers a unique 1% down payment option for fixed-rate loans.
You'll also enjoy lower monthly mortgage insurance.
The home must be owner-occupied and there are no income restrictions.

Home Ready Program

The Home Ready loan program assists borrowers with
low to moderate incomes to purchase a home.
A 3% down payment is required, but flexible down payment sources are offered.
There is no upfront mortgage insurance cost and your monthly insurance payments are lower.

FHA Loan Program

Federal Housing Association (FHA) program offers a low down payment option.
Borrowers with limited credit history allowed are allowed.
FHA loans are serviced by our partner, Servion

VA Loans

Available to Veterans and their spouses, the VA loan program offer no down payment or mortgage insurance requirements.
VA loans are serviced by our partner, Servion

Adjustable Rate Mortgage Loan

An Adjustable Rate Mortgage (ARM) loan offers a lower initial rate than a traditional fixed-rate loan.
An ARM starts at a fixed rate for five, seven, or 10 years. After that period, the rate may fluctuate each year.

ARM loans are a great way to save interest if you do not plan to live in a home for a long time.

Rate Re-lock guarantee

Control your payment by re-locking your rate to the 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.

Take advantage of this free online Real Estate service for SPIRE members.

Join HomeAdvantage^® for free and get tips on how to buy and sell your home, get email alerts when your dream home becomes available, and find a real estate agent you can trust. You may even be eligible for a HomeAdvantage Cash Rewards at closing!^♦

Learn More

Vacation/Second Home Loans

Create lasting memories from your favorite go-to destination.

You only have to occupy the home part of the year,
but it cannot be a rental property.

We offer competitive second home loan rates.

Bridge Loan

If you're looking to buy a house but you aren't ready to
sell your current home, a bridge mortgage is a great option.

Bridge loans enable you to put a non-contingent offer on a house.

Your final mortgage financing must be with SPIRE.

Land Loan

Apply for a land loan if you are looking to purchase
up to 50 acres of land without a structure on it.

Land loans can be for recreational use or future residence construction.

SPIRE offers up to 15 year fixed terms with maximum LTV of 65%.
Maximum loan amount $150,000.

Jumbo Mortgage Loan

Apply for a jumbo loan if you're looking to
purchase a higher-priced property.

Available for loan amounts over $726,200. Fixed rate terms up to
30-years or ARM loan terms available.

Meet with your SPIRE Mortgage Loan Officer

At SPIRE, you'll work with a dedicated loan officer based here in Minnesota. Whether you're looking to understand the process or ready to apply, your loan officer will be with you at every turn.

You can even set a time to meet with them virtually!

With You at Every Turn

Apply online in just a few minutes or meet virtually
with a SPIRE Mortgage Loan Officer to discuss your options.

Either way, we will guide you through every step from pre-approval to closing.

Your Loan Stays in Minnesota

When you open a home loan with SPIRE, it stays at SPIRE.
You'll always know who to contact and we'll be here for you.

Home Purchase Rates

Adjustable Rate Mortgage (ARM)

Program Name	Rate	APR*	Monthly Payment
10/1 ARM	6.750%	6.420%	$1135.05
7/1 ARM	6.500%	6.242%	$1106.12
5/1 ARM	6.250%	6.161%	$1077.51
10/1 ARM Jumbo	6.875%	6.442%	$4770.62

Fixed Rate Loans

Fixed Rate LoansRates Effective: 5/26/2023

Program Name	Rate	APR*	Monthly Payment
15 Year Fixed	6.625%	6.872%	$1536.49
20 Year Fixed	6.750%	6.949%	$1330.64
30 Year Fixed	7.125%	7.282%	$1179.01
30 Year Fixed - 1% Down Program	7.250%	7.408%	$1193.81
30 Year Fixed Jumbo	7.250%	7.307%	$4953.96
30 Year Fixed - Second Home	7.375%	7.535%	$1609.87
Land Loan - 15 Year	8.740%	9.013%	$1748

Government Loans

Program Name	Rate	APR*	Monthly Payment
30 Year Federal Housing Administration (FHA)	7.125%	8.248%	$1179.01
Veterans Administration (VA)	7.125%	7.432%	$1179.01

VIEW ALL RATES
^*APR = Annual Percentage Rate and monthly payment examples assumes an 80% Loan-to-Value, 780 credit score, and purchase or no cash out refinance. Monthly Principal & interest payment based on loan amount of $175,000 and $726,200 for jumbo loans. Payment estimates do not include taxes and insurance; actual payments may be higher. Maximum loan amount is $1,500,000. Minimum loan amount is $15,000. Property insurance is required. Residential properties located in MN and WI If the loan does not close, the cost of the appraisal will not be refunded. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, occupancy, and other factors so your rate may different.
Adjustable Rate Mortgages (ARM) loans have a variable rate therefore the APR may increase after consummation. 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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Search for homes, find a real estate agent, and close with confidence.
Receive Cash Rewards^♦ at closing!

HomeAdvantage Program

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Find out how much home you can afford
by calculating your monthly payments.

Financial Calculators

Additional Mortgage Options

Home Equity

Take out a second mortgage loan or line of credit from the equity in your current mortgage.

Refinance

Refinance your current mortgage for a lower rate or extra cash.
See our closing cost special.

Investment Property

Finance your investment property with a SPIRE Business loan.

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.

⁺APR = Annual Percentage Rate and monthly payment examples assumes an 80% Loan-to-Value, and 700 credit score. Monthly Principal & interest payment based on loan amount of $175,000 and $726,200 for jumbo loans. Payment estimates do not include taxes and insurance; actual payments may be higher. Minimum Loan amount is $15,000 and Maximum loan amount is $1,500,000. 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 located MN and WI. Change in fee ownership, manufactured homes, commercial, agriculture and large acreage properties excluded from offer. SPIRE member responsible to pay up to $1,000 toward closing costs. 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 and does not include property taxes, home owner’s insurance, prepaid interest, and fee for a potential subordination agreement. Offer subject to termination at any time. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, and other factors so your rate may different. Adjustable Rate Mortgages (ARM) loans have a variable rate therefore the APR may increase after consummation. 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

^♦HomeAdvantage is available to you through your membership with SPIRE Credit Union. Cash Rewards are available to members who register to use HomeAdvantage and who use a real estate agent in the HomeAdvantage network to buy or sell their home. Using SPIRE Credit Union for a mortgage is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commissions paid to the agent. SPIRE Credit Union may have specific rules on how your Cash Rewards will be paid out. Cash Rewards are void where prohibited by law or the lender. Please consult with your credit union to get details that may affect you.
Examples of Cash Rewards amounts shown are based on 3% commission rates. Your agent's commission rate may differ.