Mortgage Loans

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

A tax-free Health Savings Account (HSA) can help protect you against high or unexpected medical bills.

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.