Loans/Mortgages/Home Equity
First Mortgages: Open the door to opportunities.
Owning a home brings multiple benefits. You and your family enjoy comfort and security while our communities grow stronger with neighbors who care about being responsible homeowners. If you're buying a home or refinancing a mortgage our lenders will work hard to find the right loan for you. We make it easy to apply with personalized service and are eager to save you money with competitive rates and fees.
First mortgages programs run from short term to 30 year fixed, adjustable rates or balloon loans. We provide the options to best fit your needs.
THFCU has financing available for primary residence, non-homestead, construction and even recreational land. Our Fast Track Mortgage is designed to help you pay down your home loan obligation faster, saving you thousands in interest alone.
Contact us for current rates and terms.
Mortgage Calculators
Apply Online for your THFCU Mortgage
Leverage your home's equity.
Do you have a large project or expense on the horizon? Your home can provide the equity you need for financing, and you can move forward with a quick application and closing process. For home improvements, education expenses, debt consolidation and more, you can benefit financially simply from owning your home.
Which Home Equity Loan works best for you?
We'll work with you to figure out if you'd benefit more from a home equity loan or a line of credit.
| Traditional | Home Equity Line of Credit(HELOC) | First Equity | |
| Overview | Borrow up to your home's equity in one lump sum for any reason. | Advance a portion of this THFCU exclusive line of credit and keep it open for future advances | Borrow equity, even if you own your home, at our most competitive rate. |
| Terms | 5, 10, 12 or 15 years | Vary | 5, 10, 12 or 15 years |
| Rates | Fixed rate based on loan-to-value up to 80% | Variable rate based on loan-to-value up to 80% | Fixed rate based on loan-to-value up to 80% |
Consult your tax advisor about deductibility options.
Home Improvement: No collateral required!
Two Harbors Federal Credit Union is the only lender in the area participating in the Minnesota Housing & Finance Agency's Fix Up program, which allows our members to borrow for improvement projects at incredible terms.
No equity or mortgage lien is required to borrow as little as $2,000 and as much as $75,000 for a variety of improvement projects. Term up to 20 years on some loans will keep your monthly obligation affordable. A basic unsecured loan requires a Lake County household income of $167,000 or less. Funds can be used for dozens of projects including siding, septic, furnace, landscaping, countertops, decks, foundation, garage expansion and more.
The Energy Incentive Loan also provides unsecured credit for improvements and has no income restriction. Funds can be used for project like heating and air replacement, light fixtures, insulation, windows and more.
Learn more about Fix Up loans by visiting the Minnesota Housing website, or speak with a member of our lending team. We're proud to exclusively offer this program in the Two Harbors area, and look forward to helping you imagine more.
Meet the Blettners, and learn how they used a Fix Up Loan through THFCU to improve their new home!
