"Yes. No problem. Boom. Done. The credit union is made up of us. They have faith in us and are part of our extended family. Getting a mortgage was easy... not intimidating at all."
Ann and Jim love their rural home in Three Rivers, Michigan. It’s in a beautiful scenic area, enabling them to enjoy the peace and quiet of their natural surroundings. It also features a historic barn and space to play with Jim’s antique tractor collection. Two homes also sit on the property. Financing this unique property would make some financial institutions cringe, but for Ann and Jim, it was made simple.
Ann, a sales representative for Dutch Housing Inc., and Jim, a records technician for Duncan Aviation, refinanced their home with Consumers early in January. They saved money and increased cash flow by consolidating other debt, including two car loans. It also put life back in balance by making resources available for favorite pastimes...like ballroom dancing classes.
Their mortgage began with a simple visit to one of our mortgage specialists just before Thanksgiving. Everything else was handled by email or regular mail; taken care of easily, creating a relaxed experience. They closed on their loan right after Christmas and are now enjoying one low payment.
–Ann and Jim S., joined 2011
Apply today, get pre-approval tomorrow when you get your mortgage from Consumers*. We'll help get you in your home faster and make the entire process less stressful.
We offer a range of mortgage products to make your dream of home ownership a reality. Mortgages are available for primary residences and vacation homes. We also offer refinance opportunities that can save you money. A home may be your biggest investment, so let Consumers help with every phase of your mortgage. Benefits include:
- Local processing and loan servicing
- Fast and easy application process
- Convenient escrow account for taxes and insurance
- Great rates and terms to fit your needs
You can apply for your mortgage at any Consumers office or online. We’ll review your home financing needs and help you find the best solution.
A fixed rate mortgage from Consumers gives you peace of mind by offering a consistent payment amount for the entire term of your loan.
A longer term will enable you to get more house for your money with a lower monthly payment. A shorter term enables you to save money by paying off your balance more quickly and reducing your interest expense. Read more >>
A variety of terms ranging from 10, 15, 20, or 30 years.
Low closing costs to save you money.
Prepay at anytime without penalty. << Show less
Lot loans enable you to obtain a mortgage for the property of your dreams. A low fixed rate will save you money keeping costs down until you’re ready to start construction. Read more >>
High Five Refi
This unique home loan can help reduce your monthly payments and increase cash flow; it's our version of the federal government's Home Affordable Refi Program (or HARP loans) for refinancing loans owned by Fannie Mae. If you currently have a mortgage with us or somewhere else ask yourself these questions... Read more >>
- Do you owe more on your mortgage than your home's appraised value?
- Have you been making payments on schedule?
- Did your mortgage originate before June 1, 2009?
- Do you want to refinance at today's lower rates to save money or reduce your monthly payment?
If you answered yes, Consumers has the solution to get you into a more affordable mortgage. It's called our High Five Refi**, and it's designed to help homeowners who owe more on their mortgage than the home is worth on paper**. Call our mortgage department for more details at 800.991.2221. See if the High Five Refi program can fit your needs and help you get into a more affordable mortgage and payment. << Show less
Celebrate your hometown or choose the town that your kids will call home. Consumers’ Hometown Mortgages can help you or your customers purchase or refinance rural, suburban, or small town property. Read more >>
A Consumers Hometown Mortgage is available in select areas in Michigan, in communities and rural areas of fewer than 20,000 residents. The goal of the Hometown Mortgage is to expand home ownership in rural communities by making home ownership more affordable with limited down payment and credit requirements. Visit http://eligibility.sc.egov.usda.gov to see if your community qualifies.
- NO money down – up to 102% financing.***
- Reduced monthly guarantee fee, when compared to other loan options like conventional or FHA. That means lower monthly payments!
- Closing costs can often be included in the loan or can be paid by the seller up to 6% of the loan amount.
- There is NO maximum loan amount.
- You do NOT need reserves after closing.
- More flexible credit qualifying with FICO scores of 640+.
- Hometown Mortgages offer secure 30-year fixed rate loan terms with low market interest rates.
- Hometown Mortgage loans are for any new or existing site-built single family residence located in a Rural Development eligible area. The home being purchased must meet USDA/HUD standards.
Connect with a Mortgage specialist today to learn if you can take advantage of a Hometown Mortgage. << Show less
Affordable Alternative Mortgage
—Combining the best features of low-cost conventional financing with the most popular characteristics of FHA financing! The Affordable Alternative Mortgage eliminates many of the expenses typically requried by similar loans. Read more >>
- Up to 97% loan to value.
- 3% down payment may be grant money or a family gift; it is not obligated to be borrower funds.
- Flexible credit qualificaitons.
- No property location restrictions.
- The borrower does not need to be a first-time homebuyer and may own other real estate.
- Eligible properties include one unit single family homes or condos, which must be owner-occupied as the primary residence.
This mortgage program provides members with five year mortgage insurance savings of $3,000 to $5,000 and lower monthly payments. Additionally, it does not require mortgage insurance for the life of the loan; that requirement is dropped at 78% loan to value. The single–premium mortgage insurance policy could be paid by the lender or seller to enable additional savings.
- First time homebuyers.
- Homebuyers with minimal to no down payment or reserves.
- Homebuyers with credit scores of 680+. << Show less
Ask about Michigan Saves and the Neighborhood Impact grant programs for helping you update your home and increase your energy efficiency. Call our mortgage department for details at 800.991.2221. << Show less
*Some restrictions apply. Offer subject to verification and credit approval. An active checking is required.
**As with any major financial decision, we encourage members to consult with a tax advisor. High Five Refi is only available for loans currently owned by Fannie Mae.
***A Consumers Hometown Mortgage is a Section 502 Guaranteed USDA loan available through Consumers Credit Union. Some restrictions apply. Offer subject to verification and credit approval. An active checking is required. Please consult with your tax advisor regarding the deductibility of interest and charges.