LOANS
Yes, we do mortgages. But we pride ourselves on giving you a different level of service than you'd expect from other
financial institutions.
All of our mortgages are serviced locally. And we offer a variety of financing options. We offer pre-approval on mortgage loans so you know how much you can borrow before you go house shopping. We also offer 100 percent financing.
Our online mortgage center lets you do the work without making a trip to one of our branches. Click here to visit our online mortgage center. Click here to learn about the different types of mortgages.
Fixed Rate Mortgages
Fixed rate mortgages are available with various terms and the interest rate remains constant through the term of the loan. An advantage of this loan is that the principal and interest payments remain the same through the life of the loan-the rate is "fixed."
Adjustable Rate Mortgages
With an Adjustable Rate Mortgage (ARM), your loan rate can adjust over the life of the loan. The interest rate can adjust 2% per year or 6% over the life of the loan. An advantage of the ARM is that your initial payments are lower than those of a fixed rate mortgage. Your monthly principal and interest payment can change each year, depending on the amount of the rate adjustment.
Greater Iowa Credit Union is an equal opportunity lender and a member of the NCUA. All deposits at Greater Iowa Credit Union are
insured up to $250,000 through the National Credit Union Association. An additional $250,000 insurance is provided by Excess Share Insurance Corp.
