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Mortgages Main

Fixed Rate Second Mortgages

Use a Fixed-Rate Second Mortgage for home improvements, debt consolidation, or any large purchase!

  • Mortgage amounts from $2,000 to $500,000
  • Up to 90% Loan-To-Value (LTV)*
  • Low, fixed rates
  • Convenient terms available from 36 to 240 months
  • No closing costs*
  • No application fees or origination points
  • Loan terms to meet your needs
  • Potential tax benefits
  • Receive Gold REWARDS with a Second Mortgage!

It's Easy To Apply!

Receive quick and helpful service from the professionals in our Mortgage Department. Contact us at or 800.873.5100 for more details.

Apply Now

Convenient Loan Repayment Options

  • Transfer your payment from your account at another financial institution using eTransfers or contact us to set up a recurrent Direct Payment.
  • Set up email or text alerts through eMessenger Alerts for convenient payment reminders.
  • Set up recurring scheduled automatic transfers from your Credit Union checking or savings account to your loan by using Online Banking.
  • Make one-time transfers from your Credit Union checking or savings account to your loan by using Online Banking, Mobile Banking, or Telephone Banking.
  • Make payment by mail or at a branch or at a CO-OP Shared Branch

Helpful Tools

Learn about another Second Mortgage option: Home Equity Lines of Credit

Glossary of Home Loan Terminology – Become an expert on home loan terms with our handy reference!

Learn about Second Mortgages:

Our Calculators provide answers to your most common questions about Mortgages.

Know Before You Owe – Mortgages

*APR=Annual Percentage Rate. Rates subject to change without notice. Actual loan rate will be based on Member’s creditworthiness, LTV, and Term. The APR is the cost of the loan in percentage terms taking into account various loan charges of which interest is only one such charge. The APR on all 2nd Mortgage products is equal to the stated rate based on the following: The Credit Union will pay your closing costs on loans up to $100,000. For loans $100,001 or more, the borrower pays closing costs and APR will vary from stated Rate. If the Second Mortgage or Home Equity Line of Credit is discontinued or paid off within three years and the credit union paid your closing costs, a surrender fee of up to $400.00 will be charged. If your closing costs were less than $400.00 only the actual cost will be charged. Appraisal Fee may be required when tax assessment or automation valuation analysis does not meet underwriting criteria or loan amount is greater than $250,000. Hazard, flood and other applicable insurances may be required. All IBMSECU real estate loans are subject to income verification and credit approval. For more information contact a Mortgage Representative for full details on the rates, terms, fees and conditions that may apply. Certain states may not be eligible. For an owner-occupied fixed rate second mortgage with LTV of 80% or less, the maximum term is 20 years. If the LTV is greater than 80%, the maximun term is 10 years.


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