MORTGAGES

At Financial Plus, we know how important it is to find the perfect home. That is why we have mortgage experts who provide high-touch service and are dedicated to making your mortgage process quick and easy. We take time to consult with you and identify the product that best suits your needs, to give you the best experience on your purchase or refinance from start to finish. 

Our mortgage options include:

Conventional Fixed-Rate Loan - For a fixed-rate mortgage, the Annual Percentage Rate (APR) is fixed for the entire term of the mortgage. The monthly payments will pay the mortgage down to zero by the end of the mortgage term. We offer fixed-rate mortgages with varying terms for your purchase or refinance.

Michigan State Housing Development Authority (MSHDA) - For many potential homebuyers – especially first-time buyers – the down payment can be difficult. The MI Home Loan, combined with the Michigan Down Payment loan, is designed to make it a little easier for qualified homebuyers. With the Michigan Down Payment, qualified homebuyers can receive a loan of up to $7,500.

Jumbo Loan - A loan is considered jumbo if the amount of the mortgage exceeds the conventional loan limit of $510,400 for a single-family home in Michigan. Jumbo mortgages at Financial Plus are available for primary residences only, and are offered through fixed-rate terms of 15, 20, and 30 years.

Rural Development (RD): This program helps lenders work with low and moderate income households living in rural areas to make homeownership a reality. Providing affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas. Eligible applicants may purchase, build, rehabilitate or improve a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders, in order to reduce the risk of extending 100% loans to eligible rural homebuyers. So no money down for those who qualify! Borrowers are required to pay a fee 3.5% of the principal balance on all loans, which will be rolled into the loan.



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


Apply online button    Apply by phone button    Apply in person button


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
              
                                                                                                                                     


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

HELOC Special


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. 



Apply online button  Apply by phone button  Apply in person button

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.

MORTGAGE OPTIONS

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

Fixed-Rate
Home Equity Loan
Jumbo
MSHDA (Michigan State Housing Development Authority)
FHA (Federal Housing Administration)*
VA (Veterans Affairs)*
RD (Rural Development)*

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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!

*FHA (Federal Housing Administration), RD (Rural Development), and VA (Veterans Affairs) 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
Krista Graham - NMLS #1736623
Brooke Taylor-Huey - NMLS #642942 
Rosemary Boan - NMLS #1531295