USAlliance Federal Credit Union offers a wide range of financing options. Click on any of the loan programs listed below to learn more.

Conventional

Adjustable Rate Mortgages

Commercial Loans

Jumbo Loans

Construction Loans

Conventional

Conventional loans are mortgages that are not covered by any government insurance or guarantee program, and where the loans amount does not exceed FNMA or FHLMC loan limits. These loan limits may vary from year to year.

The Credit Union currently offers up to 95% financing for most properties. Loans with less than 20% down payment, or refinanced loans with less than 20% equity in the property generally require private mortgage insurance.

Conventional loans may also be used to purchase and refinance primary and second homes.

Borrowers may choose either a fixed or an adjustable rate loan with up to 30 years to repay.

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Adjustable Rate Mortgages

An Adjustable Rate Mortgage (ARM) features a variable interest rate, which is periodically adjusted, based on the change in a financial index such as the One Year Libor, plus a margin that is established at origination. Interest rate changes are limited or capped at each adjustment and for the life of the loan. ARMs may provide the security, flexibility and affordability prospective home buyers desire. These loans are especially attractive to home buyers who plan to trade up in future years. Generally, initial interest rates are lower than fixed rate mortgages.

USAlliance Federal Credit Union currently offers 1 year, 3/1, 5/1 and 7/1 adjustable rate mortgages. The initial interest rate is fixed for a certain period, for example, a 3/1 ARM, the initial rate is fixed for the first three years and thereafter adjusts each year according to the index plus the margin.

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Commercial Loans

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Jumbo Loans

If the anticipated amount of your mortgage loan exceeds the maximum amounts permitted by our conventional loan programs, we offer a variety of mortgage options which will meet your needs. We offer fixed and adjustable jumbo loans. So-called jumbo loans may be up to $1 million. The Credit Union may approve loans greater than $1.0 million on a case by case basis.

Underwriting guidelines, down payment, and actual loan amount may vary depending on the program selected. Repayment options also vary, enabling you to select a mortgage that fits your budget.

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Construction Loans

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Cooperative Loans

We offer a wide variety of fixed and adjustable rate mortgage programs for cooperative properties.

Home Equity

Financing your home needs – inside as well as out.

The appearance of a home plays an important role in our lives. It’s where we want to feel most comfortable and secure. To do so, we constantly look at ways to improve it such as attractive landscaping, more lighting, better roofing, room additions, new furniture, modern electronics or a remodeled kitchen. While you might not mind spending more to beautify your home, you might prefer spending less money in the process.

That’s where affordable financing and USAlliance come into the picture. At USAlliance, you’ll find a wide range of choices when it comes to funding a home improvement project.

Home Equity Loans: A home equity loan is a one-time lump sum with a fixed rate and payment schedule. This option is ideal for financing large one-time purchases such as an addition or major remodeling.

Click here for a Home Equity Loan application.

Home Equity Line Of Credit (HELOC): A HELOC is a revolving line of credit that allows you to borrow at anytime for as much as you need simply by writing a check or transferring the funds into your checking account up to an approved amount. As you pay off the principal, you can use the credit again (like a credit card). An initial advance of $25,000 is required and minimum payment requirements for the first ten years are interest-only.