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Closure for New Year’s Day

Please be advised that our offices will be closed on Wednesday, January 1^st in observance of New Year’s Day.

We will reopen on Thursday, January 2^nd with regular business hours 618-457-3595.

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Mortgage Loans

Interested in buying a US home?

We offer flexible mortgage loans programs for citizens, residents and even members living abroad

Apply Now

Available in these Regions

GET IN TOUCH

Come talk to us

Interested in buying a home? While the process can seem overwhelming, we make it all manageable with a variety of loans at extremely competitive rates. We offer both fixed and adjustable rate mortgages, and terms up to 30 years. We also can refinance your existing home and work to find you a better deal. Even if you’re outside of the US, we can still help you find a mortgage for a US home. Reach out to one of our qualified loan officers today and we’ll discuss your best options, no commitment required.

Flexibility: fixed and adjustable rates available
Longevity: terms up to 30 years
Savings advantage: competitive rates and refinancing options
Purchase a home for yourself
No credit history needed

Rates Important Information Questions

Interested in buying a US home?

We offer flexible mortgage loans programs for citizens, residents and even members living abroad

Apply Now

Home Equity Loan

Our Home Equity Loans have generous repayment terms up to 30 years, and absolutely no prepayment penalties.

Home Equity Line of Credit

A Home Equity Line of Credit (sometimes called a HELOC) is the loan that has it all.

Home Advantage Program

Use any agent from the HomeAdvantage network to buy or sell your home in the United States and receive a cash rebate of 20% of the agent’s commission. Simply enroll in this free program and have access to all the tools and expertise you’ll need.

Rates

Mortgage

Type	Term	Rate
Fixed	30, 20, 15 and 10 years	Today's Rate
Balloon	15, 10 and 7 years	Today's Rate
ARM	10/1, 7/1 and 5/1 year	Today's Rate
FHA Fixed	30 and 15 years	Today's Rate
VA Fixed	30 and 15 years	Today's Rate

FAQs

CUMA, the Credit Union Mortgage Association, is the partner we choose to provide the processing, underwriting and servicing for our mortgage programs.
Private Mortgage Insurance (PMI) is a type of mortgage insurance from private insurance companies used with conventional loans. Similar to other kinds of mortgage insurance policies, PMI protects the lender if you stop making payments on your home loan.
Every situation is different, and based on our membership diversity, we have implemented different programs and procedures to include all. For us, credit score is only one of the factors that we evaluate in order to pre-approve a loan. To find out if you qualify, send us an email to: oasfculoans@oasfcu.org
Closing costs will vary, but they're typically 3% to 5% of the purchase price. We'll be able to give you a more accurate estimate of closing costs after you tell us more about the loan you're looking for.
A pre-approval letter indicates how much you can get approved for and what your interest rate will be. Once you’re pre-approved, we’ll create a pre-approval letter that you can download and print.
Yes, we offer different alternatives to a traditional down payment. To find out more email us at: oasfculoans@oasfcu.org
Your Mortgage rate is determined based on a variety of factors, including inflation, the pace of economic growth, and US Federal Reserve policy.
With a fixed-rate mortgage loan, your rate won't change and your monthly principal and interest payments will stay the same over the life of your loan. With an adjustable rate mortgage loan, your rate is fixed for the first 3, 5, 7 or 10 years (depending on your term) and will adjust every 12 months based on current market rates.
We offer different types of programs and terms to fit both new purchases and refinancing needs, but since we understand the different profiles and lifestyles, we recommend that you speak with one of our loan officials to see what's right for you (oasfculoans@oasfcu.org). Once they know more about you and what you're looking for, they'll help you understand all the options and guide you to get started.

Important information about our Mortgages

OAS FCU dos not lend on:

Mobile homes
Co-ops or time-shares
Properties that are currently listed on the market for sale (except special Bridge Loans)
Commercial property or property used for commercial purposes, even if a residence is part of the property
Undeveloped property (land only)
Properties with more than 4 units
Properties that are currently under major construction/renovations. Property must be fully livable, with no safety issues. (Examples: no missing rails from stairs/decks, no open walls with wires showing, missing kitchen appliances/counters, missing bath fixtures or unfinished pool).

Adjustable Rate Mortgages available for purchases and refinances.

Conforming Mortgages: For loan amounts from $50,000 to $679,650. Loans above that limit are considered Jumbo Loans, and are also available; you can obtain specific information with our Lending Department.

Loans with a LTV of 80% or greater may be subject to private mortgage insurance (PMI). The LTV and CLTV limits may vary depending on the property type, loan program and occupancy.

The applicant is responsible for the following fees and costs at the time of closing, unless a pre-stated promotion is in place:

Application fee: None
Advance origination charge: an advance of $500 is required, which will later be applied to the closing costs if your loan closes with OAS FCU
Credit report: $25
Placement fees or points: 1 point (1.25 points for investment properties)
Collection charges: As allowed by law
Late charges: 4% of payment due if over fiften (15) days late
Life and disability insurance: Voluntary at qualifying member’s expense.

Escrows are required on certain transactions, and additional reserve requirements may apply.

If you withdraw an application that was locked, we will not reimburse the advance origination charge.

OAS FCU does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.