CPCU Mortgages

Rates

15 yr Fixed: 4.375% APR*

*Annual Percentage Rate. (For Purchase or Refinance) Effective as of 9/21/18 and based on a Loan-to-Value (LTV) ratio of 80% & minimum credit score of 620. Offer subject to change, may be discontinued at any time. Not all applicants will qualify. Contact a loan officer for more details.

30 yr Fixed**: 5.000% APR*

*Annual Percentage Rate. (For Purchase or Refinance) Effective as of 9/21/18 and based on a Loan-to-Value (LTV) of 80%, 20% down payment required, credit score of at least 620. Offer subject to change, may be discontinued at any time. Not all applicants will qualify. Contact a loan officer for more details.**Not Available for loans currently financed at CPCU.

1st Mortgages

  • 1st Mortgage Purchases require 80% Loan-to-Value of the purchase price, or appraised value, whichever is less.
  • Rates are set every Monday, according to the government rate spread.
  • We offer 15yr & 30yr Fixed rate 1st mortgages.
  • We also offer a 7yr balloon 1st mortgage loan.

1st Mortgages

  • 1st Mortgage Purchases require 80% Loan-to-Value of the purchase price, or appraised value, whichever is less.
  • Rates are set every Monday, according to the government rate spread.
  • We offer 15yr & 30yr Fixed rate 1st mortgages.
  • We also offer a 7yr balloon 1st mortgage loan.

2nd Mortgages

80% Loan-to-Value or less

  • Rates are set by the term of the loan, and the members credit score. These rates are Fixed.
  • Loan terms are available at 5yr, 10yr, and 15yrs.

Up to 100% Loan-to-Value (Insured)

  • Rates are set by the members credit score.
  • Terms are available up to 15yrs.
  • Over 80% LTV requires approval through DGU underwriters, and the CPCU loan committee.

2nd Mortgages

80% Loan-to-Value or less

  • Rates are set by the term of the loan, and the members credit score. These rates are Fixed.
  • Loan terms are available at 5yr, 10yr, and 15yrs.

Up to 100% Loan-to-Value (Insured)

  • Rates are set by the members credit score.
  • Terms are available up to 15yrs.
  • Over 80% LTV requires approval through DGU underwriters, and the CPCU loan committee.
Loan Calculator
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100% Financing

For those purchasing a home or refinancing who need up to 100% of the loan financed, we do have an option for that!  Please contact any of our loan officers to discuss this option. Please know that not all applicants will qualify for this option.

No PMI

We do NOT charge Private Mortgage Insurance on any of our home loans.

Reporting Insurance Coverage

Please remember that if you have a home loan with us we need you to send us verification of your paid property taxes.

You may do this 2 ways:

  1. Fax your paid property receipt to 517-371-2728.
  2. Mail a copy of your receipt to us at:
    Consumers Professional Credit Union
    525 W. Willow
    Lansing, MI 48906
  3.  

Quick Equity

Home Equity Line of Credit

QE 1

  • For home owners with a Loan to Value ratio of 80% or less. 
  • APR** is the Prime Rate with a minimum of 5% and a maximum of 14%.
  • No appraisal required- We use the Equifax Valuation (HVE).
  • Minimal closing costs*** which can be rolled into the loan.
  • Lines of credit up to $25,000, use only what you need!
  • Affordable monthly payments.
  • Predictable due date, payments always due on the 28th of the month.

QE 2

  • For home owners with a Loan to Value Ratio up to 100%*
  • APR ** is the Prime Rate plus 2% with a minimum of 6% and a maximum of 14%.
  • No appraisal required- We use the Equifax Valuation (HVE).
  • Minimal closing costs*** which can be rolled into the loan.
  • Lines of credit up to $25,000, use only what you need!
  • Affordable monthly payments.
  • Predictable due date, payments always due on the 28th of the month.

*Requires underwriting approval (DGU), not all will qualify.

**Annual Percentage Rate, Prime Rate as posted in the Wall Street Journal.

***Closing Costs include: HVE and Property Condition Report ($52), Title Policy (Ranges from $188 to $251 depending on the location/size), Recording of Mortgage ($30), and Flood Search ($15). Total would be $285 to $348 in closing costs.

CPCU's Quick Equity product. No appraisal required, closing costs can be rolled in, and you can borrow up to $25,000 from the equity in your home. Click here for more details. Member NCUA Equal Housing Lender.

For many members our variable rate Home Equity Line of Credit allows them to utilize the equity in their home to pay for home repairs, take a vacation or consolidate other debts. 

Common home repairs:

  • Kitchen & bath remodeling
  • New flooring
  • Decks & patios
  • Windows & siding
  • Roofing
  • Standby Generators

NMLS#

Consumers Professional Credit Union NMLS #446632

MLO#’s:

Lansing:  517-372-2400
Dave (#500636)        Kevin (#500634)
      Lyndsy M (#1575737)       

Battle Creek269-964-2713 
Donna (#453986)       Lynsee G (#1759328)
Diann (#1769880

Eaton Rapids: 517-663-8176
Jodi (#500639)
Treena (#990811)

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