At First Alliance Credit Union, we believe home ownership is the heart of a strong community.
Whether you’re ready to buy, build, refinance or borrow from your homes equity, we want you to feel confident about the process. That's why we offer a number of different mortgage options and terms, plus expert advice to connect you with the right mortgage for you, your budget, and your homeownership goals.
The easiest way to apply for a home loan? Right here! Click the button below that best describes where you are at in your home loan journey:
Of course if you would rather have help applying, well that’s as easy as setting up an appointment with us. We will take you through the entire process, and we promise to keep it as simple as we possibly can. Contact Our Mortgage Team today at 507-288-0330 option 4 or firstname.lastname@example.org -- or use the button below to send us a question!
We offer a wide variety of mortgages including:
- Conventional Fixed-Rate Loans
- Adjustable Rate Mortgages (ARMs)
- Bridge Loans
- Purchase Money Seconds
- Non-Conforming Loans
- Lot Loans
- Construction Loans
- Manufactured Homes
- Jumbo Loans
- Balloon Mortgages
- Home Equity Loans
- Mortgage Refinances
- FHA Mortgage Loans
- VA Mortgage Loans
- USDA Mortgage Loans
Already a Home Owner?
You can save money by refinancing with First Alliance! You can refinance your current mortgage loan at a different rate, a different term, or a combination of both.
- Refinance to a lower term - save money by paying off your mortgage faster and paying less total interest
- Refinance to a fixed rate - if you have a variable rate mortgage, now is the time to refinance and lock in at a historically low rate
- Refinance to a lower rate - refinancing to the current low rates could lower your monthly payment and help you save for a rainy day or major purchase
Important information to help you through the mortgage process:
Getting started by getting Pre-Qualified!
Before you even start shopping for a home, you will need to get prequalified for the loan. Sellers will know you’re a serious buyer, and you will know that your financing is already lined up. Complete our Pre-Qualification Application online to get started, that’s the “I THINK I’m Ready” button above. Or just click here!
Avoiding Private Mortgage Insurance (PMI)
Conventional mortgages generally require a 20% down payment. Typically, if you don’t put down at least 20% you will have to pay PMI, which can be up to several hundred dollars a month added to your mortgage payment. By utilizing a combination of the products offered here it is possible to avoid any Private Mortgage Insurance. Of course, we will help you determine your best options!
Using Gift Funds for Your Down Payment
If you plan to use gift funds (wedding presents, monetary gifts from your parents, etc.) there are often special rules that apply. When you talk with us, please let us know if you plan to us any gift money to buy your home.