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First Mortgage Loans

Young woman using learning about home loans

A Mainstreet Mortgage –

When buying a home or refinancing your existing mortgage, Mainstreet has a loan program to fit your needs. Finding the perfect mortgage for you starts with Mainstreet's extraordinary member service, as we make the process easy and affordable. Our experienced and knowledgeable staff takes your loan from start to finish, and since we retain servicing on our conventional mortgages, you always know where to come with payments and questions. You'll also enjoy competitive rates and closing costs, and your escrow even earns dividends just like your share account! Learn more about Mainstreet's First Mortgage programs by clicking below.


Borrower Benefits  

Accessible and Sustainable Financing

  • Low down payment. Up to 97% financing for home purchases with many borrower flexibilities 
  • Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower’s own funds (1-unit properties). 
  • Conventional home financing with cancellable monthly MI (per Servicing Guide policy); reduced MI coverage requirement above 90% LTV supports competitive borrower payment
  • Homeownership education helps buyers get ready to buy a home and be prepared for the responsibilities of homeownership. The required training offers an easy-to-use, online course provided by Framework.

Conventional Fixed Rate First Mortgage

A Mainstreet Fixed Rate First Mortgage maintains the original interest rate throughout the entire life of the loan. Monthly payments remain the same except for changes due to property tax and insurance. Our Fixed Rate Mortgages offer 30, 20, 15 and 10 year terms. Lower rates are available for shorter terms, but a shorter term will require higher payments. A popular option is to choose a longer term loan with lower payments, and then make additional principal payments when possible to reduce the overall interest cost and term. There are no prepayment penalties with any of our mortgage loans.

Conventional Adjustable Rate First Mortgage

An Adjustable Rate First Mortgage, or ARM, is a popular way to reduce your monthly payment amount. The initial interest rate is lower than a Fixed Rate Mortgage and is fixed for a specified period. The rate is then subject to adjustments annually, after the initial fixed rate period. The maximum amount of rate change at each adjustment is capped, and there is a lifetime cap over the life of the loan.

An ARM from Mainstreet is a good choice if you plan on being in your home only a few years. It can also help you qualify for a higher loan amount by offering a lower interest rate.

FHA Mortgage

An FHA mortgage is a good choice for first time homebuyers because of the low down payment requirement of 3.50%.  The seller can pay the buyer’s closing costs and the down payment and closing costs can be a gift from a relative.  This program is also a good choice for borrowers with less than perfect credit.

FHA loans may take up to 60 days to process and close due to high loan volume. 

VA Mortgage

A VA mortgage is a good choice for veterans because there is no down payment required, there is no monthly mortgage insurance and the seller can pay all of the borrower’s closing costs. The credit standards are also more lenient than conventional loans.

VA loans may take up to 60 days to process and close due to high loan volume.   

First Mortgage Online Access

You can access your Mainstreet mortgage online anytime to review your payment history, check your balance, make a payment, or perform many other functions. To get started, click here and have your Social Security Number and mortgage loan number handy. Create a user name and password and you'll be ready to go!

Please note that this link is a separate access from the OnlineAccess site you may use for your other accounts at Mainstreet. If you access this link and see only a white screen, press the F5 key on your keyboard or click the Refresh button on your browser. Also, this access to your Mainstreet mortgage requires a "cookie" to be downloaded to your computer, and your browser security settings set to allow a "pop-up" from "estatus.loanware.com". These settings are typically contained within your internet browser and procedures to alter your browser options will vary depending on the browser you use. Please refer to your specific browser instructions for help on changing these settings.

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Click here for loan rates and closing costs
Click here for financial calculators
Click here for a list of Mainstreet's Home Loan Professionals