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What could you do in a year without mortgage payments? Remodel… expand… build your savings. In the Payment-Free in '23 Sweepstakes, one lucky home buyer will win 12 months of payments – up to $1,500 per month – totaling up to $18,000! (Applies to principal & interest only.) Simply apply for a Wings Mortgage from 3/1 through 5/31, and close by 8/1 for an automatic entry!
At Wings Financial, 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.
To offer added flexibility to first-time homebuyers, Wings Financial is introducing a new, 40-year Adjustable-Rate Mortgage (ARM). This longer, 40-year term can lower your monthly payment, making homeownership more affordable. The 5/1 ARM features a fixed rate for the first 5 years, and an adjustable rate thereafter.
Now you can search for the right home without extra stress about rising interest rates. Wings' new early rate-lock program, RateKeeper, lets you lock in a loan rate while you shop.
| 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, 10, or 15 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; |
15/1, 10/5, 10/1, 7/1, and 5/1 ARM; |
30-year fixed; 15/1, 10/5, 10/1, 7/1, and 5/1 ARM; |
|
Minimum Down Payment |
3% (first-time buyers/30-year fixed only); otherwise, 5% |
3% |
10% |
|
PMI Required? |
Yes, if down payment is less than 20% |
No, if down payment is 10% and you meet certain requirements. First-time homebuyers can avoid PMI with as little as 3% down. Speak to a Loan Officer for details. |
Yes, if down payment is less than 20% |
|
Loan Origination Fee |
$950 |
$950 |
$950 |
|
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; |
| Fixed-Rate Loan (up to $726,200) |
Purchase Rate As Low As1 |
Purchase APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 30 Year | 6.125% | 6.156% | $350,000 | $2,126.64 |
| 20 Year | 5.875% | 5.915% | $350,000 | $2,482.33 |
| 15 Year | 5.375% | 5.425% | $350,000 | $2,836.63 |
| 10 Year | 5.375% | 5.447% | $350,000 | $3,776.78 |
| Adjustable-Rate Loan (up to $726,200) |
Purchase Rate As Low As1 |
Purchase APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 15/1 ARM - 30 Year | 6.000% | 6.051% | $350,000 | $2,098.43 |
| 10/5 ARM - 30 Year | 6.000% | 6.072% | $350,000 | $2,098.43 |
| 10/1 ARM - 30 Year | 5.875% | 5.947% | $350,000 | $2,070.38 |
| 7/1 ARM - 30 Year | 5.250% | 5.349% | $350,000 | $1,932.71 |
| 5/1 ARM - 30 Year | 5.000% | 5.135% | $350,000 | $1,878.88 |
| 5/1 ARM - 40 Year | 5.250% | 5.385% | $350,000 | $1,746.05 |
| Jumbo Loan (greater than $726,200) |
Purchase Rate As Low As1 |
Purchase APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 15/1 ARM | 5.875% | 5.898% | $800,000 | $4,732.30 |
| 10/5 ARM | 5.875% | 5.908% | $800,000 | $4,732.30 |
| 10/1 ARM | 5.750% | 5.782% | $800,000 | $4,668.58 |
| 7/1 ARM | 5.125% | 5.169% | $800,000 | $4,355.90 |
| 5/1 ARM | 4.875% | 4.936% | $800,000 | $4,233.67 |
| 30 Year Fixed | 6.125% | 6.139% | $800,000 | $4,860.88 |
| Fixed-Rate Loan (up to $726,200) |
Refinance Rate As Low As1 |
Refinance APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 30 Year | 6.125% | 6.156% | $350,000 | $2,126.64 |
| 20 Year | 5.875% | 5.915% | $350,000 | $2,482.33 |
| 15 Year | 5.375% | 5.425% | $350,000 | $2,836.63 |
| 10 Year | 5.375% | 5.447% | $350,000 | $3,776.78 |
| Adjustable-Rate Loan (up to $726,200) |
Refinance Rate As Low As1 |
Refinance APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 15/1 ARM | 6.000% | 6.051% | $350,000 | $2,098.43 |
| 10/5 ARM | 6.000% | 6.072% | $350,000 | $2,098.43 |
| 10/1 ARM | 5.875% | 5.947% | $350,000 | $2,070.38 |
| 7/1 ARM | 5.250% | 5.349% | $350,000 | $1,932.71 |
| 5/1 ARM | 5.000% | 5.135% | $350,000 | $1,878.88 |
| Jumbo Loan (greater than $726,200) |
Refinance Rate As Low As1 |
Refinance APR2 |
Loan Amount |
Monthly Payment |
|---|---|---|---|---|
| 15/1 ARM | 5.875% | 5.898% | $800,000 | $4,732.30 |
| 10/5 ARM | 5.875% | 5.908% | $800,000 | $4,732.30 |
| 10/1 ARM | 5.750% | 5.782% | $800,000 | $4,668.58 |
| 7/1 ARM | 5.125% | 5.169% | $800,000 | $4,355.90 |
| 5/1 ARM | 4.875% | 4.936% | $800,000 | $4,233.67 |
| 30 Year Fixed | 6.125% | 6.139% | $800,000 | $4,860.88 |
Buying a home is one of the biggest purchases most people will make. Whether you're ready to apply or just gathering information, Wings Loan Officers are here to help answer your mortgage loan questions.
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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Best Home Mortgage
Twin Cities Business Best of Business
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Star Tribune 2021 Minnesota’s Best
Prepare yourself for your home buying journey with Wings Financial's home buying and home selling webinars, featuring knowledgeable real estate professionals.
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.
