Conventional Fixed-Rate Mortgage Loan
| Term | Rate | APR | Cost per $1000.00 borrowed |
| 10 Year | 5.000% | 5.403% | $10.61 |
| 15 Year | 5.125% | 5.409% | $7.98 |
| 20 Year | 5.375% | 5.602% | $6.82 |
| 30 Year | 5.500% | 5.672% | $5.69 |
The terms of repayment, which reflect the repayment obligations over the full term of the loan, including any balloon payment. The payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater.
FlexRate Mortgage Loan
| Term | Rate | APR | Cost per $1000.00 borrowed |
| 30 Year | 5.625% | 5.799% | $5.76 |
FlexRate Mortgage is a unique fixed-rate mortgage offered exclusively at Greater Springfield Credit Union. It allows borrowers to “float down” to a lower interest rate once—at no cost—within the first five years of the loan.
This means:
You can lock in a rate today and reduce it later if market rates drop.
- No refinancing or closing fees when you use the “float down” feature on the FlexRate product, saving thousands in costs and paperwork.
- Rate reductions are triggered by a simple message to us at homes@grscu.org.
- Eligibility requires six months of on-time payments, and the property must remain your primary residence.
Property Types for FlexRate:
Single-family owner-occupied dwellings or owner-occupied warrantable condos.
Maximum loan amount is $832,750.00.
Maximum financing is 95% LTV (mortgage insurance required over 80% LTV). Minimum FICO is 620 (Middle score of lowest borrower on a tri-merged FICO mortgage lending report).
- Depending on credit score and/or loan-to-value ratio, rates may be subject to increase.
- All conventional mortgage loans including FlexRate Mortgage have a $700 processing fee.
- All construction to perm mortgage loans have a $1000 processing fee.
- Rates are subject to change at any time
Rates effective February 19, 2026
