Conventional Fixed-Rate Mortgage Loan
| Term | Rate | APR |
| 10 Year | 5.000% | 5.403% |
| 15 Year | 5.125% | 5.409% |
| 20 Year | 5.500% | 5.729% |
| 30 Year | 5.625% | 5.799% |
FlexRate Mortgage Loan
| Term | Rate | APR |
| 30 Year | 5.750% | 5.926% |
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 January 15, 2026
