Buying A House Should Be Enjoyable

Let's help you get your dream home



Feel free to call (937) 498-1195

House MF

Conventional Loan

We know you worked hard to save your down payment and now it's time to find a place of your own. This traditional mortgage is available with fixed or adjustable rates and terms up to 30 years.

Revolving Money MF

Home Equity Line of Credit (HELOC)

This line of credit is the easy, convenient way to utilize the equity in your home. Access your funds with a check, and as you pay back the loan, the funds become available again.

House Money MF

Home Equity Closed-End Loan

Need something specific? Use our closed-end home equity loan for a one-time cash out on the equity in your home. 

Bricks and Build MF

Construction Loan

Can't find your house on the market? Why not build your own.

Flag MF

Lot Loan

If you're not quite ready to build, you can still purchase the land for your future dream home.

Arrow under roof MF

Jumbo Loan

Conforming mortgages can have dollar amount restrictions. A jumbo loan helps when you need just a bit more.

House Key MF

FHA Loan

Designed for low-to-moderate income borrowers, the FHA loans require lower down payments and credit scores than many traditional loans.

Dogtags MF

VA Loan

Thank you for serving. We offer VA loans for qualified military personnel and veterans with up to 100% financing and no down payment.

Farm land MF


Want to get out of town? The USDA loan is perfect for qualified properties in rural areas.

Need Some Help?



“Honestly I’ve been here my whole life, I love the people and you have coffee!”

Edwin H.

Four Simple Steps to Buy a Home

We're here to help you through them all.

Scales 2 MF

1. Compare

Compare mortgage rates and terms to find your best option.

Calculator MF

2. Calculate

 Estimate your monthly mortgage payment.

Clip Board MF

3. Plan

Get financially prepared. 

Check in circle MF

4. Apply

Contact a loan agent to start the process.

Step 1. Compare Mortgage Rates and Terms

Rates effective as of June 24, 2024.
Rates subject to change daily.


30 Year Fixed Rate


6.875%  Rate


6.919%  APR*

20 Year Fixed Rate


6.375%  Rate


6.431%  APR*

15 Year Fixed Rate


6.375%  Rate


6.445%  APR*

*The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $100,000.00 and an estimated property value of $175,000. In addition, the property is located within Shelby or Miami County, is an existing single-family home and will be used as a primary residence. The rate lock period is 30 days, and the assumed credit score is 740. Loan amounts greater than $100,000 may result in a higher interest rate and APR.

Step 2. Calculate Your Mortgage Payment

Be sure your monthly payment is affordable. Use the calculators below to estimate your mortgage payment. It's helpful to remember the rate for which you may qualify is dependent on a variety of factors, including the term and your credit score.


Step 3. Get Your Finances In Order

Taking the time to get financially prepared before you apply for your mortgage will help you streamline the process.
Here are a few of the items that we evaluate when approving a mortgage loan. 

Gauge MF

Credit Score

Your credit score is a number that is based upon your spending, payment, and credit history.  The higher your credit score is, the easier it can be for you to get approved for your mortgage. 

If you are concerned about your credit score, ask us about our in-house loan products, or the FHA, VA, or USDA loan options.

Piece MF

Your debt-to-income (DTI) ratio is based on how much of your total monthly income (before taxes are taken out) goes towards paying off your debt.

Your new mortgage payment and all other monthly debts should not exceed 38% of your gross monthly income. It will help to take the time to prepare a basic monthly analysis of what you make and spend each month before you apply for your mortgage loan.

Down Arrrow MF

Down Payment

A down payment is money you pay upfront on the price of your home. It is deducted from the total amount owed and represents your beginning equity in a house or property.

At Mutual Federal, we have a number of down payment options available. Give us a call and we can discuss which options you may qualify for.

Arrow on chart MF

Steady Income

While we don't have specific rules for evaluating employment history, we do want to see a pattern of proven stable income.

We recommend you apply for your mortgage when you have been employed at your current job or working in the same field for at least two years with no employment gaps. If it is less than that, don't worry, we look at your entire employment history during the mortgage approval process.

Step 4. Apply

Even though you may not be sure where you qualify, you probably have an idea of the type of loan you need. If you are applying for a conventional mortgage, you can apply online. It’s easy, and you’ll receive a response the same day.


If you are interested in any of our other home loan products, let's have a conversation.


Frequently Asked Questions

Can I apply for a loan before I find a property to purchase?

Yes. Applying for a mortgage loan before you buy is a good idea! If you are pre-qualified for a specific amount, you’ll know which homes are within your budget and be able to negotiate with the seller.

What happens at the loan closing?

The closing will take place at the office of a title company or attorney in your area who will act as the bank's agent. 

During the closing you will be reviewing and signing several loan documents. The closing agent or attorney conducting the closing should be able to answer any questions you have, or feel free to contact your mortgage lender, if you prefer.

Just to make sure there are no surprises at closing, your mortgage lender will contact you a few days before closing to review your final fees, loan amount, first payment date, etc.

I'm purchasing a home. Do I need a home inspection AND an appraisal?

A home inspection and an appraisal are designed to protect you against potential issues with your new home. Although they each have totally different purposes, it makes the most sense to rely on both to help confirm that you've found the perfect home.

The appraiser will make note of obvious construction problems such as termite damage, dry rot or leaking roofs or basements. Other obvious interior or exterior damage that could affect the stability of the property will also be reported.

However, appraisers are not construction experts and won't find or report items that are not obvious. That's where the home inspector comes in. They generally perform a detailed inspection and can educate you about possible concerns or defects with the home.

It's a good idea to accompany the inspector during the home inspection. This is your opportunity to gain knowledge of major systems, appliances and fixtures, learn maintenance schedules and tips, and to ask questions about the condition of the home.

What are closing fees, and how are they determined?

A home loan often involves many fees, such as the appraisal fee, title charges, closing fees, and state or local taxes. These fees vary from state to state and also from lender to lender. Your Mutual Federal mortgage lender should be able to give you an estimate beforehand. 

To assist you in evaluating our fees, we've grouped them as follows: 

  • Third Party Fees
    Fees that we consider third party fees include the appraisal fee, the credit report fee, the settlement or closing fee, the survey fee, tax service fees, title insurance fees, flood certification fees, and courier/mailing fees.
  • Lender Fees
    Fees such as points, administration fees, document preparation fees, and loan processing fees are retained by the lender and are used to provide you with the lowest rates possible.
    This is the category of fees that you should compare very closely from lender to lender before making a decision.
  • Required Advances
    You may be asked to prepay some items at closing that will actually be due in the future. These fees are sometimes referred to as prepaid items.

If an escrow or impound account will be established, you will make an initial deposit into the escrow account at closing so that sufficient funds are available to pay the bills when they become due.

If your loan requires mortgage insurance, mortgage insurance payments may be collected at closing. Whether or not you must purchase mortgage insurance depends on the percentage of the down payment you make.

If your loan is a purchase, you'll also need to pay for your first year's homeowner's insurance premium, flood and wind if applicable, prior to closing. The policies must be purchased and paid in full prior to closing and we consider this to be a required advance.

Recent Home Loan Articles

Builders See Better Buying Conditions Ahead

Homebuilders know the housing market. They have to, if they hope to be successful. Builders have to know what buyers...

Do You Know How Much A Home Costs?

Most of us know what it means to be sticker shocked. It's when you find out the price of something is much higher than...

Increasing Inventory Gives Buyers More Time

In a competitive market, home buyers have to make big decisions fast. There's no time to deliberate when other...