Mortgage Home page 
Own your dream home 

Mortgage Loans

We offer financing for a new home purchase, new construction, or to refinance your current mortgage.

  • No prepayment penalties or application fee.

  • Serviced locally. Payments can be made in person at our office, using MyCoVantage, or by using automatic payment transfers, or payroll deduction. Plus, you can talk to a CoVantage loan officer at any time if you have questions.

  • Download our Home Financing Guide [PDF] to learn more!

  • Download our Mortgage Lending Policy (for MI members) [PDF]


Home Loans

  • 1/1 year, 3/1 year, 5/1 year, and 10/1 year adjustable rate mortgage (ARM) loans available.

•  The rate is fixed for the initial term period, then the rate is adjusted annually each year after, up to 30 year amortization.

•  Guaranteed not to increase more than 6% over the life of the loan.

  • 5 year, 10 year, 12 year, 15 year, 20 year, or 30 year fixed rate mortgage loans available.
  • Land and construction loans.


Government Programs

Rural Development
Rural Development is a 30-year fixed rate loan that is offered through the United States Department of Agriculture. Rural Development loans are serviced at CoVantage, but are not credit union in-house loans. With Rural Development loans, borrowers have the opportunity for financing up to 101% loan-to-value (LTV). There may be county income limit requirements, and restrictions as to where the property can be located in order for a borrower to qualify for this program.

Home Ready
Home Ready is a 30-year fixed rate loan offered through Fannie Mae. This type of loan is serviced at CoVantage, but are not credit union in-house loans. With the Home Ready program a non-occupant borrowers, such as a parent, may be able to be on the loan. The Home Ready Program also has lower PMI rates compared to standard requirements, and gifts, grants, and cash-on-hand are permitted as a source of funds for down payment and closing costs. The property must be owner-occupied, and there may be county income limits. Homebuyer education may be required to qualify for this program.

WHEDA is a 30-year fixed rate loan that is offer through Wisconsin Housing and Economic Development Authority. They are originated through CoVantage Credit Union, but serviced in Madison, Wisconsin at WHEDA office. With the WHEDA program, you may choose a Private Mortgage Insurance or No Private Mortgage Insurance option. To help with down payment and closing costs, you can obtain an easy-close 2nd Mortgage for the same rate as your first mortgage. WHEDA will finance single family homes up to a 4-unit property. You do NOT need to be a first time home buyer; however, there may be special financing rates for First Time Home Buyers and veterans with Honorable Discharge Paperwork. Property must be owner-occupied. Homebuyer education may be required to qualify for this program.

Related Pages


Verify Collateral Insurance

Please click here to verify collateral insurance coverage required by your mortgage loan agreement.​

​This institution is an equal housing opportunity provider.​​​