Many prospective homebuyers and current homeowners alike are keeping a close eye on mortgage rates during the new year. Understanding where mortgage rates are headed can play a pivotal role in financial planning, whether you're looking to buy your first home or refinance an existing mortgage.
Mortgages
From first home to forever home – we've got you covered.
You'll feel right
at home with us
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Low down payment options
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FHA, VA, and new construction loans
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1:1 support from consult to closing
Are you in the market for a new home or ready to build the home of your dreams? Or, maybe you want to refinance your existing mortgage. Our local mortgage experts are here to help you navigate the process.
New home purchase
You buy the home. We'll provide the loan.
Refinance your home
Lower your monthly payments, change the term of your current mortgage, or get cash out to use for a home project or other expenses.
Build a new home
You choose the floorplan. We'll finance your dream home, with extended rate lock options.
Current specials
$750 closing costs
For a limited-time, enjoy $750 closing costs1 when you finance your new home with GECU. Check out our low cost loan options and rates below.
Explore competitive rates and flexible loan options
Borrow with confidence, our competitive rates and flexible loan solutions are designed to meet unique financial situation.
Loan options
- Conventional: This is the most common loan, available with a down payment as low as 3%. Conventional loans typically require a solid credit score and lower debt-to-income ratios.
- FHA: A Federal Housing Administration (FHA) loan is backed by the government and are popular among first-time home buyers because they offer lower down payment options, as little as 3.5%. FHA loans have lower minimum credit score requirements and provide opportunities for borrowers with higher debt-to-income ratios.
- Jumbo: This is the option for you if you’re shopping for a luxury home with a purchase price exceeding the conforming loan limit ($806,500.00).
- VA loans: A flexible, low-interest mortgage for members of the U.S. military (active duty and veterans) with no minimum down payment requirement.
- Doctor loans: A loan tailored for medical professionals with flexible down payment options and up to 100% financing available. No private mortgage insurance (PMI) required and higher debt-to-income ratios allowed.
- Construction loans: Offering one-time close construction loans with flexible terms, designed to help you finance the building of your new home. Use this type of loan is when you, the borrower, are financing the project.
- Extended rate-lock program: Get a 6- or 12-month extended rate lock option for new construction loans, when the builder is financing the project.
Personalized mortgage solutions
- Quick pre-qualification
- Work with a team that knows the local market
- Low closing cost and rate reduction options
- No required escrow account
- Flexible payment options including principal-only and escrow payments
- No prepayment penalties
Ready to take the first step?
Have any questions? Our team of local lending experts is on hand to provide 1:1 support and personalized guidance!
Request more information
Complete this short form and we'd be happy to get in touch with you.
Apply online
Ready to get the ball rolling? Submit your application to get prequalified with us.
Crunch the numbers
Select a calculator to get started.
FAQs
When applying for a mortgage with GECU, you'll need to provide documents such as proof of income (pay stubs, tax returns, or W-2), bank statements, identification, and information about your current debts and assets. Our mortgage team will provide you with a detailed checklist to help you gather all necessary documents.
Check out our Money Minutes Blog to map out the home buying process.
Mortgage rates fluctuate based on market conditions. To get the most current mortgage rates, please submit an inquiry or contact us at: 513.577.8981. We'll work with you to secure the best possible rate for your loan.
A great first step in the home buying process is to get pre-qualified as it helps you understand how much you can afford and demonstrates to sellers you are a serious buyer. To get pre-qualified, you can submit your application online or contact us at: 513.577.8981.
You can make principal-only payments from a GECU checking or savings account, after your current month’s payment has been satisfied.
- To make a payment in Online Banking, select Move Money, then Make/Schedule a Payment. Select your from/to accounts and choose principal-only or escrow from the drop-down menu.
- To make a payment using our mobile app, tap Make a transfer, select your to/from accounts, and then choose principal-only or escrow from the drop-down menu.
If you wish to make a principal-only payment from an external account at another financial institution, you must first make a deposit to a GECU checking or savings account. Once you have the deposited the funds to a GECU checking or savings account, you can set up a principal-only payment following the steps outlined above.
Please note: When making a deposit to a GECU account, our Funds Availability Policy applies.
Money Minutes Blog
When it comes to buying a home, one of the most critical decisions you’ll make is selecting the right mortgage. Like homes themselves, mortgages come in many sizes and types. Two of the most common options are fixed-rate and adjustable-rate mortgages (ARMs).
With borrowing rates at their lowest in years, now is the perfect time to consider a Home Equity Line of Credit (HELOC) to finance your home improvement projects. Whether you're preparing your home for holiday gatherings or tackling upgrades before the cold sets in, a HELOC allows you to take advantage of reduced interest rates—with the potential for even more rate cuts on the horizon.
Financial institutions aren't all the same
At General Electric Credit Union, the big difference is we focus on improving people's lives, not padding our profits.