Home Loans
We make the home loan process fast, easy and straightforward so you can focus on creating memories, not paperwork.
First Mortgage Online Access
Access your Mainstreet Credit Union mortgage online with My Mortgage anytime to review payment history, check your balance, or make a payment. Have your Social Security Number and mortgage loan number handy.
Loan options for all stages of home ownership in Kansas or Missouri
Zero Down Mortgage Loan
Designed for Buyers - Just Like You.
You’re ready to take the big step, but you’re not sure how much you need for the down payment. What if the answer was zero?
- Zero down payment
- 100% Loan-to-value (LTV) for first time home buyers only
- 1% minimum borrower contribution required
- A borrower's contribution can be part of closing costs or part of the required two months cash reserves to be verified in the borrower(s) bank, investment or retirement accounts.
- Fixed and adjustable rate loan options available
- Single family attached/detached home and condos only
- Primary residence-owner occupied only
- Online home buyer education required and provided at no cost
*Zero Down Loan is valid on single family, owner occupied attached/detached homes and condos. 1% minimum borrower contribution required, closing costs and/or reserves can be used to cover the 1%. All loans require escrow for property taxes and homeowner’s insurance, Private Mortgage Insurance (PMI), and flood insurance, if applicable. Member is responsible for Lender fees, all title/recording fees, escrow reserve, and initial interest. The Zero Down Loan is available to Mainstreet Credit Union members. Membership eligibility required. All loans are subject to approval based on borrower’s creditworthiness. Debt-to-Income ratio and credit score restrictions apply. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Federally Insured by NCUA.
Conventional Fixed-Rate Mortgage Loan
Keep the same interest rate for the life of the loan. Choose from 30, 20, 15 and 10 year terms to ensure a monthly payment that fits your budget.
Is a Fixed-Rate Mortgage right for me?
A conventional fixed-rate mortgage is the option for you if you appreciate the stability that comes with a steady monthly payment. Having a fixed rate is perfect if you have a firm budget and are expecting to stay in your home for quite some time. The predictable payments will give you peace of mind knowing exactly how much you’ll be paying each month. You’ll be able to know exactly how much interest you will pay over the life of your loan.
Get the home of your dreams! With a conventional fixed-rate mortgage from Mainstreet, we strive to provide:• No prepayment penalty
• Competitive interest rates
• Fees $500 less than competitors on average because we process and close our own loans
• Local and personal service because we don’t sell our conventional loans
Conventional Adjustable Rate First Mortgage
An Adjustable Rate First Mortgage has an initial interest rate lower than a Fixed Rate Mortgage and is fixed for a specified period. The rate is then subject to adjustments annually, after the initial fixed rate period.
What is an Adjustable-Rate Mortgage Loan?
Your initial interest rate is lower than a Fixed Rate Mortgage and is fixed for a specified period in an adjustable rate mortgage (ARM) loan. The rate is then subject to adjustments annually, after the initial fixed rate period.
Is an Adjustable-Rate Mortgage right for me?A conventional adjustable-rate mortgage (ARM) is a good option if you don’t really plan on planting roots in your home. Members who are looking to refinance or sell their home in a few years tend to like a conventional ARM. Maybe you don’t foresee staying in your city for a long time, you’re growing your career or family, or you just enjoy keeping your options open. The lower initial payments will give you time to build savings in the first few years.
Get the home of your dreams! With a conventional ARM loan from Mainstreet, we strive to provide:• No prepayment penalty
• Competitive interest rates
• Fees $500 less than competitors on average because we process and close our own loans
• Local and personal service because we don’t sell our conventional loans
FHA Mortgage
An FHA mortgage is great for first time home buyers because of the low down payment requirement. This program is also a good choice for borrowers with less than perfect credit.
Mainstreet Credit Union is a Federal Housing Administration-approved lender. If you’re looking for a loan with a bit more flexibility in lending requirements, you’re in the right place! FHA loans are popular for their relatively small down payment and fewer qualifying stipulations. If you have a less than perfect credit score or you’re a first time buyer without a credit history, FHA loans can be a smart option.
To apply for an FHA Loan you must meet these requirements:• Credit Score of 600 or higher
• Steady history of employment or work for the same employer for 2 years
• At least two years without bankruptcy
• Property must be owner-occupied
We’re excited to help you guide you throughout the home buying process. With a Mainstreet FHA home loan, we strive to provide these benefits:• Down payments as low as 3.5%
• No prepayment penalty
• Competitive interest rates
VA Mortgage
A VA mortgage is a good choice for veterans because there is no down payment, no monthly mortgage insurance, and the seller can pay the entire borrower’s closing costs.
As a US Veteran, reservist, active duty or National Guard member, you may be eligible for a Veterans Affairs (VA) Loan. We thank you for your service and encourage you to consider the benefits of a VA Loan.
- Credit score of 600 or higher
- Have served 90 consecutive days of active service during wartime
- Have more than 6 years of service in the National Guard or Reserves
- Are the spouse of a service member who has died in the line of duty or as a result of a service-related disability
- No down payment
- No monthly mortgage insurance
- No prepayment penalty
- Competitive interest rates
HomeReady™
Perfect for low to moderate income buyers, HomeReady allows you to borrow up to 97% of your home's appraised value (1-unit only) and use flexible funding sources.
HomeReady helps members with a low to moderate incomes, first-time buyers, and those who have limited cash for down payments. What’s great about our HomeReady Loans is that family and friends can help you fund your home, even if they don’t live with you!
To apply for a HomeReady loan you must meet these requirements:
- Income less than or equal to the area median income (AMI)
- Minimum credit score of 620
- Participation in home-ownership education
We're excited to help guide you throughout the home buying process. With a Mainstreet HomeReady loan, we strive to provide these benefits:
- Down payments as low as 3%
- Gifts can be used for down payment
- Reduced Private Mortgage Insurance (PMI)
- No prepayment penalty
- Competitive interest rates
- Fees $500 less than competitors on average because we process and close our own loans
- We don’t sell our conventional loans, so your service is always local and personal
Second Home Financing
Mainstreet Credit Union can finance your second home in Kansas and Missouri.
A second home is defined as a single-family residence located a reasonable distance away from the primary residence that the owner occupies from time to time that does not derive rental income.
Fixed Term:
- 30, 20, or 15 years
Maximum LTV:
- 90% for purchase and rate/term refinances
- 75% for cash-out refinances
Principal Interest Tax Interest:
- 2 months of PITI cash reserves
Transaction/ Property must meet second home financing Fannie Mae Guidelines.
Call 913-599-1010 for rates or to speak with one of our Mortgage experts.
Meet Our Loan Officers
Our experienced and licensed loan officers make it their business to educate customers and create loan solutions that fit the individual. Their mission is to make the process easy for all of our members.