Conventional Fixed-Rate Mortgage Loan
| Term | Rate | APR | Cost per $1000.00 borrowed |
| 10 Year | 5.625% | 6.039% | $10.91 |
| 15 Year | 5.875% | 6.171% | $8.37 |
| 20 Year | 6.125% | 6.363% | $7.24 |
| 30 Year | 6.250% | 6.434% | $6.16 |
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 | 6.375% | 6.561% | $6.24 |
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 August 27, 2026
