Mortgage Loans

Hometown has partnered with Great Northern Financial Corporation to provide mortgage services for our members.

You can save money by consolidating your debt with us!

Available mortgages

We offer 1st mortgage loans on all types of properties, including 1-4 family units, owner-occupied property, second homes, town homes, and condominiums. Our mortgage loans offer flexible terms: 10, 15, 20, and 30-year loans.

We can also help you refinance your current mortgage.

Loan features and rules

• There may be some limits on amounts...call 217-221-7259 to discuss with a loan officer.
• Loans of 10yrs or more are 5-year balloons if amortized for more than 10 years.
• Loans under 10 years have a fixed rate and term.
• Loan processing will be completed approximately 5 business days after we verify the property value.
• No penalty for early payoff.

What you will need:

If purchasing:

• A copy of your contract-to-purchase.
• A value assessment on the property to be purchased.
• You must fill out, or already have on file, a copy of the general application form with your up-to-date information.

If refinancing:

• A copy of the current real-estate tax bill.
• You must fill out, or already have on file, a copy of the general application form with your up-to-date information.

Rates

Your loan rate may be equal to the Credit Union Cash Management Rate plus 4.0% if the loan is 80% or less of the value of the property. Please contact our office for the daily rate.