Mortgages | Alliant Credit Union

Fixed Rate Home Mortgage

Lock in a rate and payment for a period of 15 or 30 years

Max Term: 15-year or 30-year¹
It’s the Right Choice If:
- You have found your forever home with no plans to move in the future
- You prefer to have fixed payments
Advantages: Your rate is locked in for the entire term of your loan, and your monthly payments won’t change. A 15-year fixed means higher payments but less interest; a 30-year means lower payments but more interest.

Adjustable Rate Mortgage (ARM)

Lower initial rate subject to adjustments after fixed term

Max Term: Initial term 3, 5, 7, or 10² years
It’s the Right Choice If:
- You want the flexibility for future life changes
- You prefer to have a lower monthly payment at the beginning of your loan
Advantages: Your payments are usually lower in the beginning of the loan. Plus, there’s a cap to prevent a drastic change to your loan payment.

Low Down Payment Mortgage

As low as 3% down, or as low as 0% down for first-time buyers

Max Term: Various terms available
It’s the Right Choice If:
- You prefer a lower down payment or you have never owned a home.
Advantages: You can choose from fixed-rate or adjustable-rate mortgages, with programs available to eliminate pricey private mortgage insurance (PMI). This also includes our First-Time Home Buyer program.

Jumbo Mortgage

Loan amounts over $510,400

Max Term: Various terms available
It’s the Right Choice If:
- You want a mortgage that lives as large as you do
Advantages: You can select from fixed-rate or adjustable-rate terms. Your down payment requirements start as low as 5%, depending on your loan amount.

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More programs to help you get the most out of your mortgage

Alliant Advantage Mortgage (AAM) Program

Traditional mortgages sometimes create roadblocks to buying a home; they may want a large down payment or require private mortgage insurance (PMI) if you haven't saved up 20% of your home's value. But the Alliant Advantage Mortgage (AAM) program helps you overcome these common barriers to homeownership.

0% down, no-mortgage-insurance loans help first-time homebuyers
Alliant's 0% down product for first-time homebuyers offers loan amounts up to $500,000, with no pricey PMI payments and a variety of term options available.

5% down no-mortgage-insurance loans and refinances
If you're not a first-time homebuyer, you're probably already sick and tired of paying PMI. When the milestone of reaching 20% home equity to end your PMI payments is still far off, Alliant’s AAM program could help. You could buy a new home with 5% down (or refinance with 5% equity) and eliminate PMI with AAM.

Apply Today

Alliant Home Rewards: Get help buying or selling your home – plus a cash back rebate

Our Alliant Home Rewards program pairs you with a local real estate agent and a mortgage loan officer who will guide you through the entire home buying process. And we can help you sell your current home too!

Plus, within 45 days of your closing, we’ll give you a cash back rebate of up to $6,500 when you buy or sell, and up to $13,000 if you buy and sell through the program!³

In select cities, Alliant Home Rewards can even provide online tools to help you learn about the local market and find prospective homes.

Start Your Home Search

We're with you every step of the way

A dedicated home loan specialist will work hard to get you preapproved. Your specialist will walk you through the easy, online application process and guide you through the rates and loan programs to ensure you get the right loan. Complete the form or contact us to get started today!

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