Home buying solutions

Mortgage Solutions, LLC, a wholly owned subsidiary of Vantage Credit Union, can help you purchase your first home, move into a bigger home, downsize an empty nest, or even refinance your current residence. Qualified mortgage professionals are ready to answer all your questions and get you moved in with fast, easy––and most of all, affordable––mortgage services.

Buying a home can be stressful! Whether you’ve been through the process before or are gearing up for your first time, Vantage wants to simplify the process for you. Take advantage of our resources to find experienced certified real estate agents, property listings, market trends and tips on buying and selling. You could even earn Cash Rewards!

We have everything you need to make your home buying experience pain-free.

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Find out how much you can afford!

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Choose the right mortgage loan for you:

  • Conventional
  • FHA
  • VA
  • Adjustable
  • Fixed
  • Jumbo fixed
  • First-time homebuyer
  • Educator

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First-time homebuyers (and others) save with as little as 1% down

Build equity in your new home faster by financing with our first-time homebuyer mortgage through Mortgage Solutions, LLC, a wholly owned subsidiary of Vantage Credit Union. With as little as 1% down, you could buy a home and not have to pay upfront mortgage insurance. Your down payment can even be from a gift. If you’re just getting started, take advantage of our other resources that can support you throughout the home buying process.

Our unique First-time Homebuyer mortgage (FTHB) could save you money now and over the life of your loan compared to an FHA loan.

 

Choose our First-time Homebuyer loan:

  • Down payment as low as 1%
  • No upfront mortgage insurance premium
  • Lower monthly mortgage insurance payments
  • Mortgage insurance payments end when equity reaches 20%
  • Build equity faster
  • Local lender

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Buy your home with no down payment

Down payments can be a major hurdle when buying a home if you’re just getting started or especially if you’re waiting for your current home to sell. Vantage members who work in the educational community^ now have access to an exclusive mortgage loan program through Mortgage Solutions, LLC, a wholly owned subsidiary of Vantage Credit Union. 

While the government offers special programs for veterans and rural development, our Educator Mortgage is a one-of-a-kind option available through a private mortgage company.

Be ready to act fast when you find the home you love without the concern of a down payment. Hold on to your savings for other moving expenses and enjoy a new level of flexibility in an ever-changing housing market.

 

Educator Mortgage Benefits:

  • No down payment (zero, zilch, nada)
  • Up to 100% financing
  • Fixed rate loan up to 30 years
  • Fast action when you find the right home
  • Local lender focused on educators

Apply for my educator mortgage

A money-saving mortgage option

With an adjustable rate mortgage (ARM),^^ you’ll be looking at a lower interest rate and lower monthly payments up front. If you’re in the market to buy a new home, this mortgage could enhance your purchasing power, helping you afford a larger home or making additional amenities possible. Maybe you’re looking to refinance for monthly savings or improvements—an adjustable rate mortgage may be the best option for you.

First-time homebuyers often move out of their first home within 10 years. Promotions at work, new opportunities in another part of town or the country, needing to be closer [or farther away] from family and accommodating a growing family all could play a role in how long you stay in your first home. Experienced homeowners often plan to pay off their mortgage long before the 30-year maturity date. If you plan to move or pay off your mortgage within the next 15 years, this home loan option is worth exploring.

15/15 Adjustable Rate Mortgage Benefits

  • Fixed rate for the first 15 years
  • Rate adjusts once
  • Fixed rate for the remainder of the loan
  • Low initial interest rate
  • Lower monthly payments
  • Greater buying power

Apply for my 15/15 ARM

How do I know which mortgage loan is right for me?

Consult our experienced mortgage loan officers to discuss each available option so you can choose the solution that’s best for you and your unique needs.

Search. Sell. Buy. Save. with HomeAdvantage

Members who use HomeAdvantage® when buying or selling their home can earn an average of $1500 Cash Rewards after closing!* In 2021, our members received $35,000 in Cash Rewards.

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Refinancing Your Home

If you own a home, you likely have a mortgage. Are there ever circumstances where you’d want or need to refinance your current mortgage? Of course!

Do you want to: 

  • Reduce your monthly mortgage payment by securing a lower interest rate
  • Pay off your mortgage sooner (and reduce your total interest paid) by converting to a shorter term
  • Make more manageable payments by extending your term
  • Switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan
  • Eliminate mortgage insurance, if rising home values and loan payments have pushed your home equity above 20 percent
  • Take advantage of your home’s equity by using money left over after paying your original mortgage for home renovations, large expenses, etc.

Refinancing might sound like a good option, but before you start the process, factor in the following. Refinancing isn’t free. It comes with costs, such as an origination fee, an appraisal, title insurance, taxes and other fees. And you need to check to see if your current lender will charge a prepayment penalty. 

If you need help weighing the options, our experienced mortgage loan officers can discuss your situation and help with the solution that’s best for you! 


Cash-Out Refinance

Purchasing a home is a big investment! Down the road, you may need repairs or wish the home renovation of your dreams. But, saving a large amount of money to complete those projects may be tough. Your home’s equity could be the key. It’s called a cash-out refinance.

How could you use the funds from a cash-out refinance?

  • Home improvement projects
  • Investment purposes
  • High-interest debt consolidation
  • College education

With a cash-out refinance, a new mortgage is taken out for more than your previous mortgage balance, and the difference is paid to you. Your lender will determine how much cash you can receive, based on standards such as your property’s loan-to-value (LTV) ratio and your credit score.

Whether you want to pay down debt or renovate your kitchen, a cash-out refinance can be a powerful tool and can give you the money you need to move toward your goals.

What about a home equity loan or home equity line-of-credit? Yes, that’s another way to use the equity in your home. When considering your options, take into account what interest rates are available, the closing costs involved, and any potential refinance tax deductions available.

Adjustable-Rate Mortgage vs. Fixed-Rate Mortgage

Are you shopping for your first home or looking to refinance? What’s an adjustable-rate mortgage (ARM)? Why choose that over a fixed-rate mortgage?

With an ARM, your interest rate remains fixed for a certain period—typically seven, 10 or 15 years—but then switches to a variable rate that adjusts every 12 months or so. With a fixed-rate mortgage, your interest rate remains the same for the life of your loan. It’s predictable and simple—but is it the right choice for you?

Does an ARM sound more complex? It doesn’t have to be—and it can offer certain advantages. 

  • Lower interest rate upfront. ARMs offer lower interest rates during their fixed period than fixed-rate mortgages. 
  • Qualification. ARMs are typically less risky for the lender’s perspective because they capitalize after the fixed period if interest rates increase. 
  • Flexibility. If you sell your home, or refinance, before the fixed-rate period ends, you’ll enjoy the lower rate and monthly payments.

In a raising-rate environment, an ARM mortgage is something to consider. It may help you afford a larger home, or a more desirable home, by maximizing your buying power. From fixed-rate mortgages to adjustable-rate mortgages—with other options in between—there’s a mortgage option to fit your needs.

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Banks are for profit. Vantage Credit Union is for you.

Our focus is on helping you reach your financial goals.

Mortgage Solutions, LLC, is a wholly owned subsidiary of Members Resource LLC, a Credit Union Service Organization, a wholly owned subsidiary of Vantage Credit Union. Mortgage Solutions, LLC–NMLS #277481. Missouri Residential Mortgage License, Illinois Residential Mortgage Licensee, Kansas Licensed Mortgage Company, Arkansas Licensed Mortgage Company. Mortgage Solutions, LLC dba Mortgage Solutions CU, LLC, Oklahoma Mortgage Lender. Equal Housing Lender

*Based on HomeAdvantage national average data.

Restrictions apply. Property must serve as the primary residence, be less than 10 acres and not zoned agricultural. Subject to credit approval and program guidelines. Interest rate and program terms are subject to change without notice.

^Loan is available to any teacher or employee of an education organization or community. Restrictions may apply. Property must serve as the primary residence. Subject to credit approval and program guidelines. Interest rate and program terms are subject to change without notice. Not all loan products or terms are available in all states. Consult a Mortgage Solutions, LLC Mortgage Loan Officer for detailed requirements that apply.

^^ARM loans are variable rate loans; interest rates and payments may increase after consummation. For example – 15/15ARM with a term of 30 years for $394,900, Initial Interest Rate of 4.875%, and an APR of 5.309%, your monthly payments for years 1 – 15 would be $2,089.84 and for years 16 -30 monthly payments could be a minimum of $2,107 to a maximum of $2,683 (based on the current Index Plus Margin). Monthly payments do not include taxes and insurance and the actual payment obligation will be greater. Payments are based on a 60-day lock period with a scenario assuming borrower has excellent credit of 740 or higher. Subject to credit approval.