First Mortgages


Deciding which mortgage loan is right for you can depend on a lot of factors. Where you are at in your life cycle, how much you have for a down payment, how long you plan to be in your new home, etc.

Learn more about the differences between these mortgage products below:

Fixed Rate Mortgages

Your loan payment stays the same.

  • Interest rate remains the same for the entire loan.
  • Perfect if you want stay in your home for a longer period of time or the entirety of the loan.
  • 15, 20, 25 and 30-year terms.

Adjustable Rate Mortgages
Your payments are a little less initially.

  • Interest rates & payments start low for the first 3, 5 or 7 years, then fluctuate with the market.
  • Perfect if you want to move in a short time or pay off the loan quickly.

Federally-Insured Options Include:

FHA Mortgages
A loan with a lower down payment.

  • Up to 97% financing.
  • 15, 20, 25 and 30-year terms.
  • Flexible credit guidelines.
  • Down payment can be gifts, savings or 401(k) withdrawals.

Rural Development (RD) Mortgages

A loan for RD designated areas with a lower down payment.

  • Up to 100% financing.
  • 30-year fixed rate loan.
  • No Private Mortgage Insurance (PMI).
  • Flexible credit guidelines.

Land of Lincoln Credit Union offers you many different mortgage options. Talk to our mortgage staff for qualifications and additional details.

Buying a home is one of the most important purchases of your life. That’s why we will ask you these questions and help you make the right choices for you. We don’t just take your information and quote a rate. Visit one of our branches for details or to apply or               CLICK HERE to visit our ONLINE MORTGAGE CENTER.

* NMLS ID: 412587. First mortgage purchase and refinance loans are available in most Central Illinois Counties.