Now more than ever, it is critical to work with a mortgage lender you can trust. Our mission is to enrich the financial lives of our members. You can trust our local mortgage experts to listen to your needs, answer all your questions, and explain the details, so there are no surprises!

Midwest Loan Services Website

HouseCash-Out Mortgage Refinance

Since home values are high, a Cash-Out Mortgage Refinance can help you do more with your money.
They are a great option to consider for:

Our mortgage experts would be happy to talk options for your situation and goals. Call us at 815-744-7497.

Types of Mortgages

We offer a variety of low-rate mortgage loans with low closing costs and easy payment options – all designed to save you money. We can do mortgages on a primary residence, vacation home and investment property for all our members in all 50 states.


  • Perfect for those age 62 and over who are looking to enhance their retirement years by accessing equity in their home to improve their cash flow.
  • No monthly mortgage payment is due.
  • In most cases, a borrower’s credit score is not used in the credit decision.

A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac — currently $510,400 for a single-family home in all states (except Hawaii and Alaska and a few federally designated high-cost markets, where the limit is $765,600).

Jumbo loans are available for primary residences, second or vacation homes and investment properties. These mortgages are available in a variety of terms including fixed-rate and adjustable-rate loans. A jumbo loan will typically have a higher interest rate, stricter underwriting rules and require a larger down payment than a standard mortgage.

  • FHA Loan – Since 1934 the Federal Housing Administration (FHA) loans have been helping people become homeowners. Perfect for those buyers who are looking for lower down payment and low closing costs.
  • VA Loan – is perfect for American Veterans or their surviving spouses to help finance a home with no down payment.
  • USDA/Rural Development Loan – Guaranteed Rural Housing Loans offer no down payment for those with income that does not exceed 115% of the median area income.

If you want to buy a home and have a steady income and good credit, NuMark Credit Union and the Federal Home Loan Bank of Chicago can help.

Through the Downpayment Plus® Program*, up to $10,000 may be available to eligible homebuyers to use toward down payment and closing costs. Ask one of our loan officers today about Downpayment Plus Program to see if you are eligible.

Homebuyers must meet income eligibility requirements and:

  • Contribute at least $1,000 to the purchase of the home
  • Complete pre-purchase homebuyer education and counseling
  • Live in the home as your primary residence

NuMark Credit Union is committed to helping our neighbors. We can help lower your borrowing costs if you qualify for the Downpayment Plus Program.

To Learn more about this program call us at 815-744-7497.

*Downpayment Plus is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the Federal Home Loan Bank of Chicago’s website at for complete requirements. “Downpayment Plus” is a registered trademark of the Federal Home Loan Bank of Chicago.

  • Fixed Rate – A great choice if you are planning to stay in your home for more than seven years. These mortgages offer a constant interest rate and monthly payment.
  • Adjustable Rate Mortgages (ARM) – An ARM is an ideal choice if you are planning to live in your home for a short time or planning to refinance in the future. With these mortgage mortgages you can lock an interest rate for 3, 5 and 7 years.

If you have any questions please call us at 815-744-7497 or email our Mortgage Staff at

If any question or need help with old Mortgage/HELOC lien, please contact: Lien Satisfaction

Apply Now! Mortgage Loan Calculator

*All loans subject to approval. NMLS ID# 405831 

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