Home Mortgages
Acquiring a new home is exciting! Whether you are looking to purchase your first home, upgrade to your dream home, downsize or simply refinance, SharePoint has Mortgage loan solutions designed to meet your needs. Our Mortgage experts are here to help you through the entire process with helpful information, choices and solutions to meet your personal goals (and within your budget)!
| Name | Rates | APR^ | Points | Monthly Payment | |
|---|---|---|---|---|---|
| Conventional 15-Year Fixed | 5.750% | 5.846% | 0.00 | $2,076.03 | ^ |
| Conventional 30-Year Fixed | 6.625% | 6.685% | 0.00 | $1,600.78 | ^ |
| VA 30-Year Fixed | 6.125% | 6.387% | 0.00 | $1,551.69 | ^ |
| VA IRRRL 30-Year Fixed | 6.125% | 6.233% | 0.00 | $1,526.62 | ^ |
| 30-Year Fixed Refinance | 6.500% | 6.603% | .298% | $1,580.17 | ^ |
I Want To
Purchase a Home
Home Loans Unique to You, Including:
- First-Time Home Buyers
- Downsizing
- Moving Up or Relocating
- Second Home or Cabin
I Want To
Refinance a Mortgage
Refinancing Solutions to Benefit You!
- Lower Your Rate
- Reduce Your Term
- Cash Out for Improvements
- Consolidate Debt
I Want To Learn About
Individual Virtual Home Buying Seminars
This is an individual, interactive home buying seminar allowing you to ask questions throughout to better understand the home buying experience.
I Want To
Find Discounts
Realtor Discounts: SharePoint's offers a network of local realtors who offer exclusive member discounts.
Learn More
Home Insurance Discounts: Could you save hundreds on home insurance?
I Want To
Receive Rate Alerts or Have Questions
Receive rate alerts to let you know when your desired rate is available.
Fill out a short form to inquire about your mortgage options.
I Want To Learn About
Freedom Mortgage
Local Underwriting & Servicing
Competitive Closing Costs
Quicker Turnaround Times
Freedom Mortgage
SharePoint's Freedom Mortgage loan is designed to help homeowners pay their home off faster. It is a smart solution for homeowners who have delayed refinancing their higher-rate mortgage due to the unknown closing costs typically associated with refinancing a mortgage.
Freedom Mortgage Loan Rates
| Name | APR as low as* | Term |
|---|---|---|
| Freedom Mortgage (Eight years or less) | 6.99% | 96 months |
| Freedom Mortgage (9-12 years) | 7.24% | 144 months |
*APR=Annual Percentage Rate. Subject to approval and income verification. All posted rates are as low as and may vary, subject to your credit history. Additional loan rates and terms are available. Contact a SharePoint Credit Union Representative for details. Rates and terms subject to change. Maximum Loan-To-Value = 80%. SharePoint Credit Union must be in the first lien position. Property must be the primary residence or a non-investment vacation home located in MN or WI. Maximum term is 12 years. Closing costs will vary based on loan amount, appraisal requirement, geographic location, and title examination findings. For loan amounts of $25,000 to $150,000, costs will typically range from $375 to $1,300 including an appraisal if one is required. Payment example assumes property is located in Hennepin County and the borrower has a credit score above 680: Payment example: Borrow at 6.99 % for 8 years, $136.30 per $10,000. Payment example: Borrow at 7.24% for 12 years, $104.14 per $10,000. Sample payment does not include taxes and insurance. Property insurance required. Escrow account not available. | ||
SharePoint’s Network Of Realtors Offer Discounts
Do you need to find a realtor to help you buy and/ or sell a home? SharePoint Credit Union has a network of realtors who offer discounts for our members. Simply complete the form below and two realtors will contact you within (2) business days.
Find a Realtor
Mortgage FAQs
If you are looking to purchase a home, we recommend getting pre-approved as soon as possible. Even if you aren’t looking to buy immediately, getting pre-approved will give you time to correct anything on your credit report and time to increase your credit score to ensure you get the best interest rate.
VA loan – no down payment requirement
Conventional – 3% for first-time home buyers, if you have owned a home in the past 3 years then 5% is the minimum down payment requirement.
FHA – 3.5% down payment requirement
VA loan – A loan that is available for eligible veterans. VA loans typically do not require a down payment, will be more lenient on credit history, and have a lower interest rate. If you are a veteran or active-duty military, SharePoint can help you determine if you are eligible for a VA loan.
Conventional – Conventional loans are your best option if you have good credit and are able to contribute 3%-5% (depending on if you are a first-time homebuyer) or more as a down payment. When you have less than a 20% down payment mortgage insurance will be required on a Conventional loan, but will drop off when your loan balance gets paid down to 78% of the initial purchase value of the property.
FHA - FHA loans are insured by the Federal Housing Administration. FHA loans provide a low-down payment option at 3.5% and are more lenient on credit issues. However, there are more fees associated with an FHA loan and mortgage insurance does not drop off on an FHA loan.
VA loan – A loan that is available for eligible veterans. VA loans typically do not require a down payment, will be more lenient on credit history, and have a lower interest rate. If you are a veteran or active-duty military, SharePoint can help you determine if you are eligible for a VA loan.
Conventional – Conventional loans are your best option if you have good credit and are able to contribute 3%-5% (depending on if you are a first-time homebuyer) or more as a down payment. When you have less than a 20% down payment mortgage insurance will be required on a Conventional loan, but will drop off when your loan balance gets paid down to 78% of the initial purchase value of the property.
FHA - FHA loans are insured by the Federal Housing Administration. FHA loans provide a low-down payment option at 3.5% and are more lenient on credit issues. However, there are more fees associated with an FHA loan and mortgage insurance does not drop off on an FHA loan.
To avoid paying mortgage insurance on a conventional loan, a 20% down payment is required.
The first step would be for you to complete a personal budget to determine how much you can afford to spend on a home. Once you complete a budget, you will want to start the pre-approval process to determine how much you will qualify for.
Yes, we are able to assist you with your mortgage in all 50 states.
Yes, you can use SharePoint as little or as much as you’d like.
A pre-approval is valid for four months. After four months, the credit report expires and a new credit report must be pulled.
SharePoint is a local, not-for-profit member owned financial cooperative that is easy to do business with. Our knowledgeable mortgage team will provide choice, convenience, and flexibility while we work to give you the best value to reach your goals. You will receive exceptional service during your loan process, as well as any future needs you may have.
Highlights
Buy or Sell your house
Member Discounts
