No PMI Loans | Personal | Redstone Federal Credit Union

Live Brighter®

with flexible financing

No PMI Loans

Because no mortgage is one-size-fits-all, we offer a variety of No PMI (Private Mortgage Insurance) Loans. Redstone’s Combination Mortgages give you the great rates you want and the flexibility you need. Put either 5% or 10% down, finance the rest, and pay no PMI.

With a smaller down payment and no PMI premiums, a Combination Mortgage allows you to free up cash for remodeling, construction, or other expenses. Whether you’re purchasing your primary residence or a second home, a Combination Mortgage can put you on the right path to a happy home.


Borrow up to


Buying in TN? Some counties are eligible for higher loan limits.
Click here for more details.

Finance up to


of purchase price or appraised value, whichever is less.

1st Mortgage up to


Loan t Value combined with a 2nd mortgage not to exceed 15% Loan to Value


  • Conventional
  • First-time homebuyers
  • VA
  • USDA
  • Jumbo
  • Condominium 
  • Second Home
  • Investment Property
  • No Private Mortgage Insurance (PMI) 
  • Down Payment Assistance Programs


  • Lower Rate or Term
  • Cash Out
  • VA
  • Home Improvement
  • Home Equity


  • One-Time Close
  • Land Loan

Featured Rates:

How it works:

  • You choose the down payment amount, either 5% or 10% 
  • We finance 80% of the purchase price or appraised value, whichever is less
  • The remainder is financed as a second mortgage or home equity loan

Need help with your down payment or closing costs? We offer assistance programs to first-time home buyers, veterans, and community partners. See if you’re eligible
Learn more about Private Mortgage Insurance , including Lender-Paid and Borrower-Paid.

Why choose Redstone for your Home Loan? 

Competitive rates and closing costs

When you choose Redstone, you get great rates, flexible terms, and low closing costs.

Team of experts

Our Mortgage Team has years of experience and knows the real estate industry inside and out.

Local servicing

From monthly payments to escrow and insurance, Redstone services nearly every mortgage we make.

Ready to apply for a No PMI Loan? It’s easy!

Home Equity Line of Credit

Borrow up to


Minimum loan amount $10,000.

Finance up to


of the appraised value of your home

APR as low as


Key Features

  • Variable rate, tied to Prime.
  • Borrow funds as needed. Advance through online banking or access with your HELOC Visa credit card.
  • Payments are due on the 15th of every month.
  • Minimum monthly payment is 1.5% of outstanding balance or $100.00, whichever is greater.
  • May be eligible for tax benefits on interest (check with your tax advisor).
  • No annual fee, no appraisal fee, no closing costs.

Ready to apply for a Home Equity Line of Credit? It’s easy!

EVERY Redstone Visa credit card includes all of these features


Quick and easy purchases 

Visa is accepted all over the world

Warranty Manager Service: additional product registration to extend the manufacturer's original warranty on products you buy


Zero-liability fraud protection

Monitor credit card activity with Credit Card Control

Real-time fraud monitoring and fraud text alerts

Identity theft assistance

Savings & Discounts

With Visa SavingsEdge®, you’ll receive discounts at select retailers when you use your Visa credit card.

Redstone Discounts!® when you use your card at many local businesses.

Additional Benefits    

Travel and Emergency Assistance

24-hour Roadside Dispatch service

Auto Rental Collision Damage Waiver insurance coverage for cars rented with your Visa card

Warranty Manager Service manage, use, and extend the warranties of eligible items purchased with your Visa card

Mortgages are only available for properties located in Alabama and Tennessee.

APR=Annual Percentage Rate

The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here. The rates listed above, do not take into consideration any possible adjustments based on changes to any of the loan parameters including loan-to-value (LTV), occupancy, loan amount, repayment feature, loan amount or loan term. Your rate may be different if there is subordinate financing or when loan parameters do not meet secondary market requirements.

Must be RFCU® member to obtain mortgage. Must be eligible for membership and open a share savings account.  A minimum balance of $5.00 is required to open and must be maintained in share savings account at all times.  Fees and other restrictions may apply. All loans subject to credit approval. Rates, terms and conditions are subject to change without notice. RFCU is an Equal Opportunity Lender.. Contact Credit Union for details. Various types of mortgage loan programs and terms are available. Must create separate user name and password to gain access to application process. 

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Join The Redstone Family Today

Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.

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