Mortgage Programs

Mortgage Programs

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Fixed-Rate Mortgages


Fixed-rate mortgages offer the security of a fixed interest rate and, in turn, a fixed principal and interest payment for the entire life of the loan. Bank Mutual offers 15-, 20-, and 30-year fixed-rate mortgages.

Fixed-rate mortgages fully amortize over a defined period of time and are paid in full at the end of the loan term.

The shorter the loan term you choose, the faster equity is built and the loan is paid off. 

The interest rate and principal and interest payment does not change on a fixed rate mortgage home loan.

Apply online for a fixed rate mortgage or contact your local Loan Officer to see if you qualify for a preferred rate.

Bank Mutual offers a variety of Adjustable-Rate Mortgages (ARMs) that can potentially save you thousands over the course of your mortgage.

An ARM is a type of mortgage loan where the interest rate may adjust according to a specific benchmark (index).  The initial interest rate on an ARM is typically discounted for a fixed period of time (5 or 7 years) after which time it may adjust.

ARMs are also known as a "variable-rate mortgages" or "floating-rate mortgages."

An Adjustable-Rate Mortgage is an ideal choice for borrowers who:

  • desire a lower monthly payment for up to seven years

  • want to save hundreds, and in the case of some loans, thousands of dollars during the first several years of the loan

  • may only live in their home for seven years or less

ARM Loan Benefits:

  • 5 and 7 year terms that amortize up to 30 years

  • Lower interest rates and monthly payments than fixed-rate mortgages

  • The lower interest rates on ARMs can help borrowers qualify for a loan more easily

  • Low closing costs with no origination fees

Bank Mutual offers long-term jumbo loans with the following benefits:

  • Fixed- and adjustable- rates

  • Purchase loans from $417,000 to $2,000,000

  • New construction loan amounts up to $2,000,000

  • Loan amounts exceeding $2,000,000 on an exception basis

  • Owner-occupied primary residence or second home

  • 1-2 units and eligible detached condos

  • Loans serviced locally

We understand that every situation is not the same. That’s why Bank Mutual offers a wide variety of programs and solutions to accommodate your individual needs. Even if your situation is unique, give us a call. Together, we can work toward a solution.

From fixed- to adjustable- or owner-occupied to investment, Bank Mutual offers a robust array of portfolio solutions to meet the unique needs of our customers. Because we hold these loans in our own investment portfolio, we are able to offer outstanding benefits, such as:

  • The ability to make local, reasonable underwriting decisions

  • Competitively priced fixed- and adjustable- rate mortgage programs

  • Unique Bank Mutual specific loan programs

At Bank Mutual we offer competitively priced, fixed- and adjustable- rate mortgages to purchase or refinance 1-4 family rental properties. Because we underwrite and service our loans locally, we make it easy and convenient for the small investor. Bank Mutual rental property loans feature:

  • Low minimum credit score of 620 to qualify

  • Low down payment – finance with as little as 15% down

  • Cash out up to 75% of the appraised value