Please contact a Mortgage Loan Originator for rate information regarding Jumbo Mortgages. State-specific and Title Insurance fees may apply. All loans subject to application and credit approval. Terms and conditions subject to change. Other terms, conditions, and restrictions may apply.
Our experienced, helpful member service team is ready to support you!
Direct line of communication to your personal mortgage expert
Closing location of your choice
Purchase or Refinance Your Home
Low rates and closing costs
Low down payment options
Quick and easy application process
Why Consider Elements for a Mortgage
Elements Financial is a credit union. That means we’re like a bank, only better! Securing your mortgage through Elements Financial means you will benefit from:
Competitive rates & fewer fees – On average, an Elements Financial member saves an estimated $309 each year compared to customers elsewhere.2
Personal attention – Headquartered in Indianapolis, with member service available 24/7.
Today’s technology – We offer online banking, making it easy to pay your mortgage every month.
Heritage – With nearly 90 years of experience building and nurturing lifelong relationships with members.
Seasoned professionals – Our experienced team will walk you through the mortgage process, step-by-step.
Credit counseling – If you're working toward a mortgage application, pursue our confidential and supportive assistance to develop healthier financial habits for life.
Frequently Asked Questions
Q: What can I expect during the mortgage process? A: Once you have applied for a mortgage, a Mortgage Loan Originator will contact you within 1 business day to discuss your application. The Mortgage Loan Originator will provide you with information on our programs as well as what documentation is needed from you in order to review your application for approval. Once you have selected a program and have supplied your documents to the Mortgage Loan Originator, your loan will be reviewed by an Underwriter. After your loan is approved, the Mortgage Loan Originator and Processor will work together to obtain any further documentation that is needed to close your loan including the appraisal and title work. A closing can be scheduled once your loan has been finally approved.
Q: Why should I consider getting preapproved before buying a home? A: You should contact a Mortgage Loan Originator to see if you can be pre-approved for a loan so that you know what price range you can afford, to evaluate the monthly costs of a mortgage, and to see how much of a loan you can afford. The pre-approval will also give you some leverage when negotiating with the sellers.
Q: What is included in a mortgage payment? A: Your monthly mortgage payment is made up of several components, referred to as "PITI". PITI is principal, interest, property taxes, and homeowner’s insurance. The first two components, principal and interest, are based on the loan amount, interest rate, and amortization (term) of your loan. Property taxes are assessed annually. The amount of your taxes is divided by 12 months in order to determine how much will be collected from you as part of your monthly payment. Homeowner’s Insurance is also paid annually. The amount of your annual premium is divided by 12 months as well. Private Mortgage Insurance can also be a component of your monthly mortgage payment. This is insurance that the lender obtains to protect them against any loss if you stop making payments on your loan. PMI is typically required on Conventional loans if you do not put at least 20% down on a purchase or have 20% or more equity in your property on a refinance. Consult with an Elements Mortgage Loan Originator for further details.
Q: What are my closing costs for my Elements Financial mortgage? A: The specific amount of your closing costs will vary. 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. For more information, please contact a Mortgage Loan Originator.
Q: Does Elements have any special programs for first-time homebuyers? A: Elements has a First Time Homebuyer program available. Our First Time Homebuyer program allows you to purchase a new home with as little as 5% down with no Private Mortgage Insurance (PMI). We also have other programs that are available for with even lower down payment terms such as FHA, VA, and USDA loans. Please contact a Mortgage Loan Originator for more information.
Q: How much will it cost me to refinance my first mortgage with Elements Financial? A: To see the current rates and fees for a mortgage with us, please visit our Refinance Your Mortgage, or you may call 1-800-621-2105 to speak with a financial wellness expert today.
Your government-issued ID (driver’s license, state ID or passport)
Estimates of your household income, assets, home value and price you paid for your home
From application to closing takes an average of 30 days. What to expect during the application process:
We’ll contact you within 1 business day after you submit your application to review documentation that we’ll need from you and answer questions you may have.
We’ll be in close contact with you throughout the mortgage process until final loan approval. Once your loan has been final approved, your closing will be scheduled at a location convenient for you if approved.
1 Nationwide Mortgage Licensing System Registrants: Nationwide Mortgage Licensing System Registrants: Elements Financial FCU 410639, Charles Akinbola 1811812, Barbara L Allen 609733, Luis Aparicio 144043, Cynthia Bell 427359, Mary Bell 562458, Deborah Benson 1093386, Nyla Bivens 1128100, Cassandra Bogaards 894545, Jamie Bonner 435395, Laura Bordenkecher 1590841, April Bratton 1169913, Dawn Michelle Bruce 899516, Julie Bowering 443400, Tracee Buckrop 609727, Karla Chevrie 404630, Eliza Claborn 1826115, Christine Clark 609734, Mary Ann Deckard 1259646, Heather Derbyshire 483140, Ashlie M Dew 539208, Curtis Neal Dodd 200259, Ron E Ellis Jr 1207645, Barbara Fey 489638, Kara Michelle Fischer 1469113, Tami Renee Forsythe 609730, Lenore Gallagher 975065, Sherry Gaw 988244, Emilee Goode 1776621, Robert Goodwin 975067, Quentin Griten 1919653, Abigail Hall 1469114, Mariah Hestand 1809685,Dial Holliday 1436039, Jennifer Hooker 1807696, Theresa Iaria 1128103, Christoper Kerr 143199, Andee Kettlebar 443776, Jill Kidwell 609731, Michele King 1759144, Sara Keedy 1512646, Sean Kiely 425511, Tara Nicole Lambert 883082, Teresa Ledford 444283, Cindy Leisure 1080329, Rebecca Littell 996455, Kristy Mars 609725, Beverly Marshall 444941, Stacey McDaniel 1157444, Alexander J Menestrina 1190426, Beth Moberg 473454, Justin D Montour 1198316, Brooke Moss 1824059, Terri Mossbrucker 1385461, Kristina Mowery 916118, Amber D Murphy 1082684, Mallory Neill 1750269, Constance Nelson 975071, Grace Nolan 1840818, Regina Norman 1080327, Shaneka A Pedersen 426201, Meghan Pedigo 1601304, Janene Petree 1529353, Kim Purkhiser 1313210, Tania Query 608383, Rebecca Rice 1007612, Miranda Grace Renee Rizzo 1198315, Janai S Roberts 252636, Susan Roberts 975068, Carol Biale-Schroeder 1863399, Ryan Sebree 1866273, Ron Senci 1068152, Brad Smith 906855, Amy Lynn Stokes 1387213, Brent Tedford 1892880, Bradley Thompson 609732, Samantha White 1849420, Jay Jonas Woodburn 1789146
2 Competitive Values are estimated by comparing historical savings and lending rates at Elements Financial and at the five banks and credit unions with the largest market share in Central Indiana; data valid as of 6/30/2019.