Mortgages

What makes GreenState the #1 choice 1 for home loans?

Professional Local Service

GreenState has a strong culture of service and dedication to our members.
Meet our GreenState Mortgage Team and find out what we're all about!

Great Rates and Great Programs

GreenState offers a variety of loan programs including fixed-rate and adjustable loans to meet your needs.  We have programs for first time home buyers and even offer ways to avoid Private Mortgage Insurance (PMI).  

Up to 100% Financing

Well qualified buyers may be eligible for 0% down loans in select loan programs.  

Extended Rate-Locks Available

Whether you need time for new construction to be completed or just need the certainty of locking in your interest rate range for you new home search, extended rate-lock options up to 360 days are available. 

Mortgage Calculators

Rent vs. Buy
Should you rent or buy your home?
Mortgage Qualification
The mortgage qualifier calculator walks you through the steps for determining how much you can borrow for a home loan.
Mortgage Loan Payment
Determine your monthly payment and generate an amortization schedule for a mortgage.
Mortgage Refinance
Find out how long it will take to break even on a mortgage refinance and if refinancing is a good financial decision for you.

Prospective borrowers can reach our mortgage department at 877-527-3510

First Mortgage Loan Programs

We offer fixed and adjustable rate loans, plus programs for first time homebuyers and more.

Fixed-Rate Loans

GreenState offers fixed-rate mortgage loans through several vendors so we can lock in the lowest rate possible for you. We have programs for first time homebuyers and even offer ways to avoid Private Mortgage Insurance (PMI).

Learn More: Fixed-Rate Loans

Adjustable-Rate Mortgages

GreenState offers in-house adjustable-rate products if you need 100% financing or don’t plan to stay in your home long-term. We even offer ways to avoid Private Mortgage Insurance (PMI).

Learn More: Adjustable-Rate Mortgages

Find the mortgage that's right for you. 

Apply for a Home Loan

Additional Loan Programs

USDA Rural Development

This program provides loans for low to moderate income families in rural Iowa achieve their dream of home ownership. Up to 100% financing is available.

Learn More: USDA Guaranteed Rural Housing Loan

Visit: USDA Rural Development, Iowa

Veterans Affairs (VA) Loans

We’re proud to offer VA Loans for American Veterans and eligible surviving spouses.

Learn More: VA Loans

Visit: Department of Veterans Affairs, VA Home Loans

FHA Loans

The Federal Housing Administration has helped low to moderate income buyers become homeowners since 1934.  FHA loans are insured by the federal government which helps you get a better deal including down payments as low as 3.5%, low closing costs and easier credit qualifications.  

Learn more about FHA Loans.

Jumbo Mortgage Loans

For borrowers needing a loan amount greater than $647,200 GreenState offers Jumbo Mortgage loans with a low fixed rate and no 1% origination fee.

Mortgage Education Center

Mortgage Process Timeline

Avoiding Loan Mistakes

Mortgage Checklist

Home Purchase Basics

Purchase Process

Mortgage Glossary

Did you know?  GreenState offers checking accounts with no balance or activity requirements and no monthly service fees.

Freedom Loan

Would you like to pay off your home loan in 15 years or less, saving thousands on interest? If so, GreenState Credit Union has a unique opportunity to save you money.

Our Freedom Mortgage allows you to own your home free and clear in 15 years or less. If you have considerable equity in your home and are looking for the shortcut to financial freedom, this may be right for you. And closings costs are just $500!

Let’s look at an example of someone who has 25 years remaining on their 30 year fixed rate loan. We’ll assume the original loan amount was $150,000 and the rate is 3.875%. What if they switched to the Freedom program?

  25 years remaining on a 30 year loan of $150,000 Switching to the Freedom-in-15 at 3.00% Switching to the Freedom-in-10 at 3.00%
Remaining Balance $135,396 $135,396 $135,396
Principal & Interest payment $705.36 $935.02 $1,307.39
Interest due in remaining term $76,211.19 $32,907.58 $21,491.36
Paid off in… 25 years 15 years 10 years
TOTAL SAVINGS   $43,303.61 $54,719.83

Freedom Loan

Fixed rate as low as

3.00%APR3

Total closing costs

$500

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All loans are subject to approval.
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Source: Marketrac Report December 2019
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Freedom-in-10 Example: For a $150,000 loan for a term of 10 years with 3.50% APR, the monthly payment will be $1,483.29. Taxes and insurance premiums are not included in this payment example and the actual payment obligation may be greater. Freedom-in-10 Mortgage is for refinance transactions only. GreenState Credit Union mortgage must be in first lien position. Maximum 100% loan to value (LTV). Rate will be determined based on LTV and creditworthiness. $500 closing costs for applications, unless full appraisal needed. Homeowners insurance required. Only available in Iowa and Illinois. Other restrictions may apply. All loans are subject to approval.
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Freedom-in-15 Example: For a $150,000 loan for a term of 15 years with 3.50% APR, the monthly payment will be $1,072.32. Taxes and insurance premiums are not included in this payment example and the actual payment obligation may be greater. Freedom-in-15 Mortgage is for refinance transactions only. GreenState Credit Union mortgage must be in first lien position. Maximum 90% loan to value (LTV). Rate will be determined based on LTV and creditworthiness. $500 closing costs, unless full appraisal needed. Homeowners insurance required. Only available in Iowa and Illinois. Other restrictions may apply. All loans are subject to approval.

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