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Mortgage Loans

When it comes to mortgages, one size doesn’t fit all.
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    May Mortgage Special:  Save $250 in closing costs!

    Apply for a money-saving Wings Mortgage in May (new or refinanced), and you'll save an extra $250 on our already-low closing costs! Apply between May 1st through May 31st and close by October 31st

    Apply Online

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    Membership with a minimum $5 Share Savings opening deposit required. Receive a $250 credit toward closing costs on new-purchase or refinanced mortgages. Must apply between 5/1/2022 and 5/31/2022 and close by 10/31/2022.

    Bringing you purchase and refinance options for real life.

    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.

    Homebuyer Education

    Prepare yourself for your home buying journey with Wings Financial's home buying and home selling seminars, featuring knowledgeable real estate professionals.

    Trusted Agent Partners

    HomeAdvantage® connects you with a trusted agent, plus offers cash rewards for your purchase or sale.

    Contact Our Team

    Wings Loan Officers are here to help you answer your loan questions. Reach out to schedule an appointment (in-person or virtual) or get communicate via phone or email with our team.
    Compare & find the best account for you. 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;
    third-party closing costs apply and will be estimated after pre-approval.

    No application, processing, underwriting or document prep fees;
    third-party closing costs apply and will be estimated after pre-approval.

    No application, processing, underwriting or document prep fees;
    third-party closing costs apply and will be estimated after pre-approval.

     

    Mortgage Rates for New Purchases

    Fixed-Rate Loan
    (up to $647,200)
    Purchase Rate
    As Low As1
    Purchase
    APR2
    Loan
    Amount
    Monthly
    Payment
    30 Year 4.875% 4.913% $250,000 $1,323.02
    20 Year 4.625% 4.677% $250,000 $1,598.54
    15 Year 4.125% 4.190% $250,000 $1,864.92
    10 Year 4.125% 4.219% $250,000 $2,546.01
    Adjustable-Rate Loan
    (up to $647,200)
    Purchase Rate
    As Low As1
    Purchase
    APR2
    Loan
    Amount
    Monthly
    Payment
    15/1 ARM 4.625% 4.691% $250,000 $1,285.35
    10/5 ARM 4.625% 4.720% $250,000 $1,285.35
    10/1 ARM 4.500% 4.595% $250,000 $1,266.71
    7/1 ARM 4.375% 4.507% $250,000 $1,248.21
    5/1 ARM 4.125% 4.305% $250,000 $1,211.62
    Jumbo Loan
    (greater than $647,200)
    Purchase Rate
    As Low As1
    Purchase
    APR2
    Loan
    Amount
    Monthly
    Payment
    30 Year Fixed 4.875% 4.887% $800,000 $4,233.67
    15/1 ARM 4.500% 4.521% $800,000 $4,053.48
    10/5 ARM 4.500% 4.530% $800,000 $4,053.48
    10/1 ARM 4.500% 4.530% $800,000 $4,053.48
    7/1 ARM 4.250% 4.292% $800,000 $3,935.52
    5/1 ARM 4.000% 4.058% $800,000 $3,819.32
    General Terms for all Loans:
    1Rates are based on an evaluation of your credit history and other factors, so your rate may differ.
    2The APR (Annual Percentage Rate) and monthly payment examples assume a 20% down payment and $1099.50 ($1129.50 JUMBO) estimated borrower pre-paid finance charges. If the down payment is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment.
    Rate Locks - 60 Days - No Fee
    $950 loan origination fee - Additional third-party closing costs will apply.

    Additional Fixed Rate Terms:
    The 30-year fixed rate mortgage product with 3% minimum down payment (97% LTV) available to first-time home buyers only.
    Fixed rate mortgages may be subject to FNMA fees based on credit score, LTV and other factors which may apply.

    Additional Adjustable-Rate Mortgage (ARM) Terms:
    Adjustable-Rate Mortgage (ARM) rates are subject to change according to product terms.
    ARM product with 10% down payment (90% LTV) with no PMI are subject to a rate add on of 0.125%.
    ARM product with 3% minimum down payment (97% LTV) with no PMI are available to first-time home buyers only subject to a rate add on of 0.25%.
    3% minimum down payment (97% LTV) available to all homebuyers on ARM products but is subject to PMI.

    Membership with a $5 Share Account required.

    Rates effective as of May 25, 2022 and subject to change.

    Mortgage Rates for Refinances

    Fixed-Rate Loan
    (up to $647,200)
    Refinance Rate
    As Low As1
    Refinance
    APR2
    Loan
    Amount
    Monthly
    Payment
    30 Year 4.875% 4.913% $250,000 $1,323.02
    20 Year 4.625% 4.677% $250,000 $1,598.54
    15 Year 4.125% 4.190% $250,000 $1,864.92
    10 Year 4.125% 4.219% $250,000 $2,546.01
    Adjustable-Rate Loan
    (up to $647,200)
    Refinance Rate
    As Low As1
    Refinance
    APR2
    Loan
    Amount
    Monthly
    Payment
    15/1 ARM 4.625% 4.691% $250,000 $1,285.35
    10/5 ARM 4.625% 4.720% $250,000 $1,285.35
    10/1 ARM 4.500% 4.595% $250,000 $1,266.71
    7/1 ARM 4.375% 4.507% $250,000 $1,248.21
    5/1 ARM 4.125% 4.305% $250,000 $1,211.62
    Jumbo Loan
    (greater than $647,200)
    Refinance Rate
    As Low As1
    Refinance
    APR2
    Loan
    Amount
    Monthly
    Payment
    30 Year Fixed 4.875% 4.887% $800,000 $4,233.67
    15/1 ARM 4.500% 4.521% $800,000 $4,053.48
    10/5 ARM 4.500% 4.530% $800,000 $4,053.48
    10/1 ARM 4.500% 4.530% $800,000 $4,053.48
    7/1 ARM 4.250% 4.292% $800,000 $3,935.52
    5/1 ARM 4.000% 4.058% $800,000 $3,819.32
    General Terms for all Loans:
    1Rates are based on an evaluation of your credit history and other factors, so your rate may differ.
    2The APR (Annual Percentage Rate) and monthly payment examples assume 80% Loan-to-Value (LTV) and $1099.50 ($1129.50 JUMBO) estimated borrower pre-paid finance charges. If the LTV is greater than 80%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment.
    Rate Locks - 60 Days - No Fee
    $950 loan origination fee - Additional third-party closing costs will apply.

    Additional Fixed Rate Terms:
    Fixed rate mortgages may be subject to FNMA fees based on credit score, LTV and other factors which may apply.

    Additional Adjustable-Rate Mortgage (ARM) Terms:
    Adjustable-Rate Mortgage (ARM) rates are subject to change according to product terms.
    ARM product with 90% LTV with no PMI is subject to a rate add on of 0.125%


    Membership with a $5 Share Account required.

    Rates effective as of May 25, 2022 and subject to change.

    Our Loan Officers are here to help.

    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.

    Contact Us Today

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    What our members love.

    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.

    Awards and Recognition

    Twin Cities Best of Business 2021 Readers Choice Award

    Best Credit Union
    Best Home Mortgage

    Twin Cities Business Best of Business

    Award seal for Star Tribune Minnesota's Best Gold Award for Best Home Mortgage

    Best Home Mortgage
    Star Tribune 2021 Minnesota’s Best

    Attend a free home webinar.

    Prepare yourself for your home buying journey with Wings Financial's home buying and home selling webinars, featuring knowledgeable real estate professionals.

    Register Now

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    Let us help you get the financing you need.

    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.

    Apply Now

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