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At Wings, we’re bringing something new to the mortgage world: flexibility. With a wide range of fixed and adjustable-rate options, Wings offers the choices, experience and support to help you finance or refinance your home. At the end of the day, it’s not about fitting a member into a mortgage. It’s about fitting the right mortgage to a member.
| Fixed-Rate Mortgages | Adjustable-Rate Mortgages (ARM) | Jumbo Mortgages | |
|---|---|---|---|
|
Overview |
With a fixed-rate mortgage, your interest rate will not change over the life of the loan. This offers stable, predictable monthly payments, making it a good option if you plan to stay in your home long term. |
Offers lower rates than a standard fixed-rate mortgage, with a fixed rate for the first 5, 7, or 10 years. After that, the rate may adjust annually. If you are a first-time homebuyer or do not plan on staying in your home for more than a few years, a Wings ARM loan may be right for you. |
Wings offers jumbo financing at a great rate. With fixed- and adjustable-rate jumbo mortgages, low closing costs and a low origination fee on all closed loans, Wings makes it easy to get the most home for your money. |
|
Available Options |
30-year, 20-year, 15-year, and 10-year fixed; |
30-year 10/1, 7/1, and 5/1 ARM; |
30-year fixed; 30-year 10/1, 7/1, and 5/1 ARM; |
|
Minimum Down Payment |
5%; 3% for first-time homebuyers |
5%; 3% for first-time homebuyers |
10% |
|
PMI Requirement |
Yes, if down payment is less than 20% |
Yes, if the down payment is less than 20%. No-PMI options available for down payments as low as 10% or 3% for first-time homebuyers |
Yes, if down payment is less than 20% |
|
Loan Origination Fee |
$1,200 or less1 |
$1,200 or less1 |
$1,200 or less1 |
|
Closing Costs |
No application, processing, underwriting or document prep fees; |
No application, processing, underwriting or document prep fees; |
No application, processing, underwriting or document prep fees; |
1Origination Fee: $1,200 or 1% of loan amount, whichever is lower
| Fixed-Rate Loan (up to $766,550) |
Purchase Rate As Low As1 |
Purchase APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 30 Year | 7.000% | 7.140% | 1.0 | $350,000 | $2,328.56 |
| 20 Year | 6.625% | 6.805% | 1.0 | $350,000 | $2,635.33 |
| 15 Year | 6.500% | 6.724% | 1.0 | $350,000 | $3,048.88 |
| 10 Year | 6.250% | 6.564% | 1.0 | $350,000 | $3,929.80 |
| Adjustable-Rate Loan (up to $766,550) |
Purchase Rate As Low As1 |
Purchase APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 10/1 ARM - 30 Year | 6.750% | 7.267% | 1.0 | $350,000 | $2,270.09 |
| 7/1 ARM - 30 Year | 6.500% | 7.302% | 1.0 | $350,000 | $2,212.24 |
| 5/1 ARM - 30 Year | 6.375% | 7.419% | 1.0 | $350,000 | $2,183.54 |
| 5/1 ARM - 40 Year4 | 6.625% | 7.563% | 1.0 | $350,000 | $2,080.35 |
| Jumbo Loan (greater than $766,550) |
Purchase Rate As Low As1 |
Purchase APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 10/1 ARM - 30 Year | 6.750% | 7.245% | 1.0 | $800,000 | $5,188.78 |
| 7/1 ARM - 30 Year | 6.500% | 7.280% | 1.0 | $800,000 | $5,056.54 |
| 5/1 ARM - 30 Year | 6.375% | 7.397% | 1.0 | $800,000 | $4,990.96 |
| 30 Year Fixed | 7.000% | 7.118% | 1.0 | $800,000 | $5,322.42 |
| Fixed-Rate Loan (up to $766,550) |
Refinance Rate As Low As1 |
Refinance APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 30 Year | 7.000% | 7.140% | 1.0 | $350,000 | $2,328.56 |
| 20 Year | 6.625% | 6.805% | 1.0 | $350,000 | $2,635.33 |
| 15 Year | 6.500% | 6.724% | 1.0 | $350,000 | $3,048.88 |
| 10 Year | 6.250% | 6.564% | 1.0 | $350,000 | $3,929.80 |
| Adjustable-Rate Loan (up to $766,550) |
Refinance Rate As Low As1 |
Refinance APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 10/1 ARM - 30 Year | 6.750% | 7.267% | 1.0 | $350,000 | $2,270.09 |
| 7/1 ARM - 30 Year | 6.500% | 7.302% | 1.0 | $350,000 | $2,212.24 |
| 5/1 ARM - 30 Year | 6.375% | 7.419% | 1.0 | $350,000 | $2,183.54 |
| Jumbo Loan (greater than $766,550) |
Refinance Rate As Low As1 |
Refinance APR2 |
Points3
PointsPoints are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000). |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|---|
| 10/1 ARM - 30 Year | 6.750% | 7.245% | 1.0 | $800,000 | $5,188.78 |
| 7/1 ARM - 30 Year | 6.500% | 7.280% | 1.0 | $800,000 | $5,056.54 |
| 5/1 ARM - 30 Year | 6.375% | 7.397% | 1.0 | $800,000 | $4,990.96 |
| 30 Year Fixed | 7.000% | 7.118% | 1.0 | $800,000 | $5,322.42 |
Wings offers helpful resources for first-time homebuyers, as well as experienced buyers.
We love helping members like Adam and Rachel buy the home that’s right for them. We’ll support you with expert guidance, resources and advice from pre-approval to close.
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Twin Cities Business Best of Business
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Star Tribune 2021 Minnesota’s Best
We make it easy to apply for a mortgage. Apply today using our simple, online application and a Loan Officer will work with you to finalize your loan.
