Mortgages | Michigan Credit Union Home Loan Rates

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SAVE UP TO $1,120* ON CLOSING COSTS.

Apply through September 30, and you're eligible to save $745 in processing and underwriting fees and receive up to a $375 home appraisal coupon by attending our Homebuyers Workshop.

TRUE PREAPPROVAL

A prequalification is simply a discussion with your lender, while a True Preapproval looks at your financial picture, including your credit report. The seller can see that you are ready to buy, and we can quickly get you to closing and move day. To make it even more appealing, the average True Preapproval can be ready for you in as little as one to two hours.

Once you have a True Preapproval with MSGCU, all you need is a new address.

Provide your income and asset information
MSGCU team will assess your financial situation and provide a preapproval letter
Easily apply for your True Preapproval with the MSGCU Mortgage and Refinance App or in-person with a friendly mortgage consultant

Start your True Preapproval

0% DOWN PAYMENT MORTGAGE FOR FIRST TIME HOMEBUYERS

With MSGCU in your corner, you can realize the dream of homeownership now, without waiting years to save for a down payment. Buying your first home can feel overwhelming, so our process is designed to build the right mortgage, just for you. You may be able to own for similar or even less than your rent.

Available on fixed and adjustable-rate mortgages for single-family homes or condos up to $500,000
Minimum credit score of 680
No property ownership in the last 3 years

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INTEREST RATE LOCK AND SHOP

Mortgage interest rates are influenced by housing market conditions and may change many times every day. MSGCU gives you the security of locking in an interest rate for up to 90 days while you shop for a home.

$250 non-refundable fee, collected only after you have a loan estimate, address, and are ready to move forward with the property.
One-time float-down option allows you to lower your locked interest rate, should rates go down 0.25% prior to your loan closing.
Your loan must close within the lock period. However, if your rate lock is due to expire before your closing MSGCU has interest rate extension options available.

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*The up to $1,120 incentive includes 1) waiver of $295 processing fee and a $450 underwriting fee for all mortgages applied for between 7/1/2022 and 9/30/2022, and 2) coupon toward a free appraisal (up to $375) when attending a free Homebuyers Workshop. Appraisal coupon credit will be applied at the time of closing.

Not for profit. All for members.

Members and communities are at the center of everything that we do. You have goals to reach and dreams to achieve, and we are here to help you prosper.

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Get up to $200* when you switch to MSGCU Checking

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House hunters, save up to $1,120* on closing costs

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MORTGAGES: WE'LL CHAMPION YOU ALL THE WAY HOME.

SAVE UP TO $1,120* ON CLOSING COSTS.

0% DOWN PAYMENT MORTGAGE FOR FIRST TIME HOMEBUYERS

MORTGAGES:
WE'LL CHAMPION YOU ALL THE WAY HOME.