Home is where life happens—and we know how important it is to find the perfect home. At Financial Plus, we have mortgage experts who provide high-touch service and are dedicated to making your mortgage process quick and easy.

We offer fixed-rate mortgages with varying terms to meet almost any borrowing need. Our competitive rates, competitive closing costs, and quick processing give you the best experience on your purchase or refinance from start to finish. 

Click to view current rates.

Let us make getting a mortgage as smooth as possible. See some of our helpful mortgage tools below:

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As a credit union member, you have the chance to save money on your car and home insurance. Click here to learn more.

Mortgage tab

*Lender credit towards closing costs is one time only per household. All applications must be received before 3/31/2020 in order to qualify for this offer. Credit will be applied at time of closing. Home Equity Loans and loans referred to Member First Mortgage do not qualify for offer. Member First Mortgage NMLS License #149532.

Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval. See Credit Union for full details. NMLS License #586579.


Home Equity Loans

A home equity loan is a loan that allows you to borrow against your homes value in the form of two options:

Home Equity Loan - Fixed Home Equity Line of Credit 
  • No closing costs* 
    (Upfront appraisal fee refunded at closing)
  • Borrow up to 90% of the equity in your home
  • Payment is fixed for term of the loan
  • No closing costs*
    (Upfront appraisal fee refunded at closing)
  • Borrow up to 90% of the equity in your home
  • Payment may change based on Prime Rate

You can use the equity in your home to:

  • Complete home improvement projects
  • Pay for your child's college education
  • Purchase a new car or boat
  • Consolidate high-interest credit cards

Want to know more about home equity loans?
 Click here to view our Mortgage and Home Equity Loan educational videos.

Ask us how a home equity loan might be a great solution for your financing needs. 

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Home equity loans tab

Click to View Home Equity Line of Credit Early Disclosures

Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval. See Credit Union for full details. NMLS License #586579. 

*The Credit Union will not charge any closing costs on its Home Equity loans; it will, however, ask that applicants pay up-front for an appraisal, and any applicant not closing (i.e. funding) a loan will not be entitled to a refund on that appraisal fee.


If you're planning on buying a home, figuring out the type of mortgage that's right for you is a big decision. Home loans come in many different forms. The choice that's right for you will depend on your income, credit history, and a wide range of other factors. Take a look at some of the more common mortgage options listed below.

Mortgage Options at Financial Plus


The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of the loan. Fixed rate mortgages are available in terms ranging from 10 to 30 years and can be paid off at any time without penalty. This type of mortgage is structured, or "amortized" so that it will be completely paid off by the end of the loan term.

FHA (Federal Housing Administration)*

FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA). FHA loans are available for single family and multifamily homes. These home loans allow banks to continuously issue loans without much risk or capital requirements. The FHA doesn't issue loans or set interest rates, it just guarantees against default.

FHA loans allow individuals whom might not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer low minimum down payments, reasonable credit expectations, and flexible income requirements.

Home Equity Loan

home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is determined by the value of the property, Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity. Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios.

Home equity loans come in two types:

• Home Equity Loan – A one-time lump sum loan, with a fixed interest rate.

• Home Equity Line of Credit (HELOC) – A line of revolving credit with an adjustable interest rate. With a HELOC, the borrower can choose when and how often to borrow against the equity in the property, with the lender setting an initial limit to the credit line. 

Both are usually referred to as second mortgages, however a Home equity can also be a first mortgage if there are no other liens on the property.  


A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac — currently $453,100 for a single-family home in all states (except Hawaii and Alaska and a few federally designated high-cost markets, where the limit is $679,650). Jumbo mortgages are available for primary residences, second or vacation homes and investment properties, and are also available in a variety of terms, including fixed-rate and adjustable-rate loans. A jumbo loan will typically have a higher interest rate, stricter underwriting rules and require a larger down payment than a standard mortgage.

VA (Veterans Affairs)*

The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families, and the dream of home ownership became a reality for millions of veterans.

The Veterans Administration provides insurance to lenders in the case that you may default on a loan. VA home loans are available in all 50 states. The major advantage to a VA home loan is that there is no down payment required to purchase a home.

A VA loan may also have reduced closing costs and no prepayment penalties. Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action.

RD (Rural Development)*

The United States Department of Agriculture's (USDA) Rural Housing Service provides lenders guarantees on loans with up to 100% financing for qualified* customers living in rural areas around the country. Going beyond farms and ranches, these loans may be a viable option for anyone who is purchasing a home and/or property outside a major metropolitan area. USDA loans allow a greater flexibility for the borrower with regard to the loan requirements and down payment amount. Before you apply for a USDA loan it is important to make sure your property meets the guidelines to qualify for the loan.

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We know it’s a lot to take in, which is why we have a team of mortgage experts on stand-by ready to answer any questions you may have. Call us at 810-244-2134 to schedule an appointment to go over your options today!

*Jumbo, Rural Development, and VA loans are available to qualified members through our partnership with Member First Mortgage. All loans based on creditworthiness, qualifications, and collateral conditions and subject to approval by Member First Mortgage. NMLS License #149532.

Additional Resources

Mortgage Loan Officers and NMLS Numbers:

Financial Plus Credit Union - NMLS License #586579
Lisa Schwark - NMLS #786579
Krista Graham - NMLS #1736623
Brooke Taylor-Huey - NMLS #642942 
Rosemary Boan - NMLS #1531295
Becky Caton - NMLS #646373
Michael Furst - NMLS #983312 
Christopher Wheeler - NMLS #1251686
Duane Switzer - NMLS #1415957
Cherrisse Coley - NMLS #1185317
Sheena Isaac - NMLS #1920502