Home Loans

Your credit union has been processing mortgages since 1989. We have upwards of 60% of our total loans to our members held in mortgages. We are here with the type of mortgage product you need, when you need it. When you finance with your credit union, there are no points paid, nor commissions earned. If you are a first time home buyer or have questionable credit, our mortgage loan officers can work with you to get you to the point of financing, no matter how long it takes. So make an appointment and get pre-approved before you start shopping.

Terms and loan amounts listed are our best terms and are based on credit score and purchase price with supporting appraised valuation.

First Mortgage

We offer affordable rates and easy terms on first mortgages for primary residences and secondary residences. We also finance income producing properties for amounts less than $50,000 for qualified buyers. Our  balloon products have low cost balloon riders with minimal changes in interest rates over the past 20 years.  Call our office today to make that appointment for either a purchase or refinance.

Second Mortgage

Sometimes we need to consolidate our debts, make a large purchase, or are in the market for a major remodeling job. Whatever your need, let your house work for you. The interest rate is not only lower than other forms of credit, but could yield tax benefits. Our closing costs are low and the turnaround time is from 8 to 30 days depending on required appraisals and/or title insurance.

Construction Loan

We can get you into that dream home through a construction loan.  So make your dream a reality and make an appointment to find out how extravagant your dream can be.

Home Equity Loan

Our single advance home equity product is a fixed rate product with optional terms.  They can be a first or second mortgage depending on any outstanding mortgage balance you may have.

Closing Costs

Closing costs will include the appraisal fee, a filing fee, flood certification, loan processing fee, credit report fee and title insurance fee, with most costs varying in amount based on location and or loan amount. Our closing costs are minimal and can be financed within our loan to value lending parameters.

Flood Insurance

Flood insurance is a legal requirement and not an internal policy. Flood plain maps are developed by the government that determines if a specific property is in a flood plain. The insurance protects the lender in the event of a natural disaster. The homeowners who choose to live on or near water are assessed the added risk rather than all homeowners. A flood certification will be obtained on all mortgages through an independent agency to determine if flood insurance is required. This would not replace home owners insurance.

What’s the next step?

Contact our mortgage department at 989-892-1442 to schedule an appointment for a pre-approval. At this time, the loan officer will instruct you on what you will need to provide in order to get qualified for a mortgage loan with us.

  • Your credit report will be reviewed with you and we will go over any necessary steps required to remedy negative credit items.
  • Discuss loan terms, rates and tax credits that you may quality for.
  • Sign a loan application and necessary documents.
  • Provide Credit Union Plus with Purchase Agreement
  • Loan proceeds to underwriting and approval process
  • Property Appraisal and Title Insurance is ordered
  • Once appraisal and insurance are received, they are reviewed to determine accuracy and remedy any errors.
  • Final mortgage loan underwriting process occurs
  • Provide proof of homeowner’s insurance and flood insurance if required.
  • Meet with loan officer to discuss final loan amount and terms
  • Schedule closing at Title Company
  • Close on your new home with Credit Union Plus.

Most closings are within 30 days of the accepted purchase agreement. Home equities, balloon renewals and refinancing