Personal Mortgages

WELCOME HOME

We are your neighborhood

mortgage solution.

mouse

We are experiencing a tremendous volume of applications due to the very low rates. We ask for your patience as we work to quickly assist all our members.

Quick Links

PERSONAL MORTGAGES



Mortgage

Your mortgage payment will never move.



Escrow

Your escrow payments will never leave FCU



Closing

Save money on closing costs because of no middle man



Apply

Apply online, 24 hours a day 7 days a week, with instant feedback!



Rural Development



Home Equity Loan



New Professionals



Pre -Approval Loans



Construction Loans



10-15-20-30 Yr. Fixed

Professional’s MORTGAGE

The new professionals mortgage program is for individuals starting out in the professional fields of medical, dental, and legal. The program is designed for those that don’t have a history of their new professional pay level yet in place.



Residence

For the purchase of primary residence



Benefits

10, 15, 20 or 30 year fixed terms and low down payment 0% to 5%



NO ESCROW

No PMI and no escrow required for taxes and insurance



Options

Deferred student loan debt not included in debt-to-income ratio for extended buying power

great, I will apply

COVID-19 Relief-Fannie Mae

Some mortgages written through Frankenmuth Credit Union are classified as Fannie Mae loans. Fannie Mae has announced that for these type of loans they are offering assistance for homeowners who are adversely impacted by this national emergency. These members may be eligible for:

forbearance plan to reduce or suspend mortgage payments for up to 12 months.
Credit bureau report of past due payments of borrowers in a forbearance plan as a result of hardship attributable to this nation emergency is suspended.
Homeowners in a forbearance plan will not incur late fees
After forbearance, we will work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, include a loan modification.

If you have a mortgage with Frankenmuth Credit Union and are in need of assistance please contact us at (989) 497-1600

Mortgage Rates



NOTE: Rates are subject to change at any time.

Description	APR*
	as low as
5 Yr. Balloon	5.000%
10 Yr. Balloon	5.100%
30 Year Fixed	3.250%
20 Year Fixed	2.875%
15 Year Fixed	2.500%
10 Year Fixed	2.250%
Rural Development	3.750%
5 Year Balloon Construction Loan	Contact Us
30 Year Construction Loan	3.500%
20 Year Construction Loan	3.125%
15 Year Construction Loan	2.875%
10 Year Construction Loan	2.500%

*APR=Annual Percentage Rate. Contact us for more information. A loan application fee applies and is included in the APR calculation. FCU Mortgage rates are subject to change at anytime. To get a specific rate, for your individual situation, please contact our Mortgage Department at 989.497.1600.

Effective Date: October 25, 2021

Our 5 and 10 year balloon mortgages can allow you to amortize your payments up to 30 years.

Home Equity Rates

Description	APR*
	as low as
Closed End Home Equity	5.500%	Max Term 15 yrs or 30 yr amortization with 15 year balloon
Prime MasterCard Gold Home Equity	4.00%	equal to or less than 80%LTV, Prime 3.25% floor of 4.00%
Prime Plus MasterCard Gold Home Equity	4.00% (Prime + .75%)	greater than 80% LTV, floor of 4.00%
MasterCard Gold Home Equity	7.900%	equal to or less than 80% LTV
MasterCard Gold Home Equity	8.900%	greater than 80% LTV

*APR=Annual Percentage Rate. Rates may change at any time. Must meet FCU's normal underwriting qualifications to be approve. Contact FCU for more information. Loan rates and approval subject to credit score and analysis. A loan application fee applies and is included in the APR calculation for closed-end home equity loans. Equal opportunity lender. For HELOC no fees charged up front and fees are disclosed at time of application. As part of the closing procedures Frankenmuth Credit Union will acquire a security interest in the property. Draws are allowed for 20 years or as long as the account remains open and member is in good standing. Payment in calculated on 1% of the balance or $25, whichever is greater. HELOC rates are variable and based on the current index margin; rate floor is 4.00%APR and will not exceed 25%APR.

Effective Date: October 25, 2021

Neighborhood Mortgage

Neighborhood Mortgage Solutions is a mortgage Credit Union Service Organization (CUSO) that is partially owned by Frankenmuth Credit Union.

Visit Site

Mortgage Affordability Calculator

Information and interactive calculators are available to you only as self-help tools for your personal use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from a Frankenmuth Credit Union professional regarding all personal finance issues. Call 989-497-1600 or find a branch near you.

Save on Home Insurance

FCU Members Save on Their Insurance.

My Member Insurance Agency (MMIA), an affiliate of Frankenmuth Credit Union, is committed to providing competitive insurance products and exceptional customer service to FCU members. MMIA is excited to help members protect what matters most with affordable insurance solutions for your Auto, Home, Business, Farm, Life and Health.

Get A Quote