Home Loans

There’s something special about making a house your home. Whether you’re shopping for your first home, or refinancing your current mortgage, Industrial Credit Union has great home loan options to meet your needs.

Industrial credit union Mortgages offer:
  • Competitive rates
  • 30 and 15 year mortgage options
  • Land Trust Home Loans
  • Local service, Industrial retains servicing

We’re In Your Corner with great home loan options!

Points/Credits

The “No Points” rate is the going market rate for the day. If you would like to receive a lower rate, you can pay points (a percentage of the loan amount). If you need additional funds to help with closing costs, you can choose a slightly higher rate and receive a credit (a percentage of the loan amount) to use for closing costs.

30-Year Fixed-Rate Mortgage

Please Note: Rates are adjusted daily.

Annual Percentage Rate (APR). Expresses the total cost of the loan, including both the interest rate and applicable up-front fees, as a rate. Calculation based on an assumed loan balance of $300,000, points/credits as noted, and up-front fees of $1,000. Assumes no delay in funding nor any delay in initial payments.

Payment Example for a 30 Year Fixed Rate Mortgage: For example, on a fixed loan for $350,000 at 3.388% APR, you would make 359 fixed payments of $1,547.34*, then 1 fixed payment of $1,545.36. *Payment does not include taxes and insurance.

Rate Position Rate % Points/Credits APR*
Borrower Pays Points 3.000% -1.271% 3.127%
Borrower Pays Points 3.125% -0.593% 3.198%
No Points 3.250% 0.000% 3.276%
Credit to Borrower 3.375% 0.184% (cr) 3.387%
Credit to Borrower 3.500% 0.717% (cr) 3.469%

15-Year Fixed-Rate Mortgage

Please Note: Rates are adjusted daily.

Annual Percentage Rate (APR). Expresses the total cost of the loan, including both the interest rate and applicable up-front fees, as a rate. Calculation based on an assumed loan balance of $300,000, points/credits as noted, and up-front fees of $1,000. Assumes no delay in funding nor any delay in initial payments.

Payment Example for a 15 Year Fixed Rate Mortgage: For example, on a fixed loan for $150,000 at 2.804% APR, you would make 179 fixed payments of $1,017.94*, then 1 fixed payment of $1,016.28. *Payment does not include taxes and insurance.

Rate Position Rate Points/Credits APR*
Borrower Pays Points 2.375% -1.346% 2.615%
Borrower Pays Points 2.500% -0.736% 2.653%
No Points 2.625% 0.000% 2.672%
Credit to Borrower 2.750% 0.353% (cr) 2.747%
Credit to Borrower 2.875% 0.765% (cr) 2.813%

The information provided on this page is for comparative purposes only. Rates and terms may change at any time and without prior notice. Your actual rate, payment, terms and costs could be different. Get an official Loan Estimate before choosing a loan. Your rate, fees, and terms may differ based on when your rate is locked, actual occupancy status, loan purpose, loan amount, credit score, debt to income ratio, loan to value ratio, etc.

Payment examples do not include mortgage insurance. The actual payment will be higher if mortgage insurance is required on your loan. The payment examples do not include amounts for taxes and insurance premiums. Your actual payment obligation will be greater considering taxes and insurance premiums.