Home Loan  Options

Whatever your goal, you can trust UW Credit Union to help you find the right mortgage for you. Apply for a new home loan today or refinance your current home.

Compare Products 

We understand selecting the right loan can feel overwhelming and likely lead to more questions than answers. You don't have to figure it out alone.  It's why we are here. Our mortgage experts are here to help navigate the details and work with you to find the right loan type and/or program that will work best for you and your family.

Key Considerations

Consider If...

Fixed-Rate Mortgage

Fixed

Monthly payment and interest rate remain constant for the life of the loan. Rates are not impacted by market fluctuations.

You plan on staying in your home for an extended length of time and prefer having the payment remain the same throughout the life of the loan.

ARM (Adjustable-Rate Mortgage)

Adjustable Rate

Typically has a lower initial monthly payment with a potential rate shift based on the terms. Interest rate is fixed for a set number of years before adjustments may occur.

Popular options include 7, 5 and 3-year terms are common. We also offer a 15-year term, our 15/15 ARM.

You are planning on selling your home in a few years or would be willing to refinance if your rate goes up. ARMs usually help give you more buying power with a lower initial interest rate.

Jumbo

Fixed or Adjustable Rate

ARMs are available in amounts of $484,400 to $800,000 while Fixed-rate mortgages are available in loan amounts up to $1 million.

You need a loan amount greater than $484,400.

Construction

Fixed Rate

Various loan amounts available to help you build your dream home.

You plan to use for a lot you own or one you are purchasing through a builder or third party.

FHA (Federal Housing Authority)

Fixed Rate

Competitive loan programs, allowing a buyer to put down as low as 3.5%. Flexible income and credit requirements. Majority are fixed-rate mortgages.

You’re buying a home for the first time or want the flexibility of a lower down payment.

WHEDA (Wisconsin Housing and Economic Development Authority)

Fixed Rate

Available for first-time home buyers and previous property owners. Offers a 3% down payment with a 30-year fixed-rate loan.

You have a moderate income and want a low down payment.

VA (Federal Veterans Affairs)

Fixed Rate

Does not require a down payment or private mortgage insurance (PMI).

You are an active duty Service member, a veteran, or military spouse.

Get started by estimating what your loan could be with our no obligation, rate quote tool.
When you're ready, start your application. 

Estimate Your LoanApply Today

Fixed-Rate Mortgage Loan

Choose between our 15-year and 30-year options and lock in your rate for the life of your loan. Fixed-rate loans are ideal if you are planning to stay in your home for an extended period of time.

  • As low as 3% down payment available
  • 30-year term for low monthly payments
  • 15-year term to pay less interest over time

Helpful Calculators

Estimate Your LoanStart Application

15-Year Fixed Rate

3.875
%
Rate
3.949
%
APR*

30-Year Fixed Rate

4.375
%
Rate
4.417
%
APR*

Adjustable-Rate Mortgage Loan

With a lower initial payment, an ARM may give you greater flexibility to purchase your dream home. Adjustable-rate loans may be the right option if you are planning on selling or refinancing within a few years. 

  • 7/1 ARM fixed for the initial term with a potential annual rate adjustment
  • 15/15 ARM where the rate adjusts once after the initial 15-year term
  • 3- and 5-year ARMs also available

Helpful Calculators

Estimate Your LoanStart Application

7 / 1 Adjustable Rate

4.000
%
Rate
4.303
%
APR*

Jumbo Loan

Jumbo loans, or jumbo mortgages, provide financing options for loan amounts over $484,400, which is the conforming limit set by the Federal Housing Finance Agency. 

  • Adjustable-rate mortgages are available in amounts from $484,400 to $800,000. Exceptions can be made for higher amounts
  • Fixed-rate mortgages are available in loan amounts up to $1 million

Helpful Calculators

Estimate Your LoanStart Application

7-Year Jumbo Adjustable Rate

4.125
%
Rate
4.338
%
APR*

Construction Loan

Planning to build your dream home? Talk with our mortgage experts to get custom financing based on your unique situation. You can use a construction loan for a lot you own or one you are purchasing through a builder or third party. Or, make improvements to an existing home with a Construction Rehabilitation Loan.

  • 12-month interest-only, fixed-rate construction loan with principal payment due at maturity
  • Various loan amounts to meet your specific needs
  • Minimum 10% down payment
  • Financing available to convert your construction loan into a mortgage after construction is completed

Helpful Calculators

Estimate Your LoanCall To Apply

Construction

2.490
%
Rate
2.950
%
APR*

FHA

Federal Housing Authority 

FHA mortgage loans are very competitive loan programs. FHA mortgages allow the home buyer to put down as low as a 3.5% down payment AND have less than perfect credit. FHA Mortgage loans can be fixed-rate or adjustable rate mortgages, but the majority are fixed-rate mortgages.

  • 3.5% down payment
  • Flexible credit limits and no income limits

Helpful Calculators

Estimate Your LoanStart Application

30-Year Fixed Rate

4.250
%
Rate
4.456
%
APR*

WHEDA

Wisconsin Housing and Economic Development Authority

WHEDA provides special loan programs for home buyers looking to purchase an owner-occupied home in Wisconsin. In some cases, WHEDA will lend the buyer their down payment.

  • Great option for qualifying income limits
  • 3% down payment with a 30-year fixed-rate

Helpful Calculators

Estimate Your LoaanStart Application

30-Year Fixed Rate

4.875
%
Rate
4.941
%
APR*

30-Year Fixed Rate First-Time Homebuyer

4.625
%
Rate
4.690
%
APR*

VA

Federal Veterans Affairs

A VA mortgage loan is a federally guaranteed mortgage loan for veterans that does not require a down payment or private mortgage insurance. This is an excellent benefit for eligible veterans.

  • Fixed-rate financing
  • 0% down payment for eligible applicants
  • Loan amounts based on Certificate of Eligibility issued by Veterans Administration

Helpful Calculators

Estimate Your LoanStart Application

30-Year Fixed Rate

4.375
%
Rate
4.667
%
APR*

We are Here to Help

Purchasing a home whether you're a seasoned home owner or a first-time buyer is a big decision.  
We are here to guide you every step of the way.

Find a Mortgage Loan Officer

Connect with an experienced member of our team. 

Get in Touch

Attend a Seminar

Join us at one of our popular First-Time Home Buyer seminars in either Madison or Milwaukee.

Register Today