A small down payment can make a big difference in your life

  • FHA loans offer low down payment options
  • Low closing costs
  • Competitive interest rates on fixed-rate and adjustable-rate loans
  • No prepayment penalty
  • Local Mortgage Consultants offer step-by-step guidance and free consultations
  • Apply online or in person

Most traditional mortgages require down payments of 5% to 10%. But Federal Housing Authority (FHA) loans can help you realize your dream of homeownership for as little as 3.5% down. Michigan Schools and Government Credit Union Mortgage Experts can walk you through every step of the application process.

FHA Mortgage
Fixed-rate and adjustable-rate loans available for terms up to 30 years. Here is just an example of the great rates we currently offer.
TermRates as low asPointsAPR*Payment*
30 Year Fixed 7.125% 0.000% 7.942% $1,462.28
15 Year Fixed 6.875% 0.000% 7.699% $1,880.40

*APR = Annual Percentage Rate. The payment is based on a loan amount of $200,000 and consists of principal, interest and mortgage insurance premiums. The payment does not include taxes and other insurance premiums. The actual payment amount will be greater.

View all rates.

icon: stopwatch showing 5 minutes Learn more about mortgages in this 5-minute lesson.