CPCU Mortgages
1st Mortgages
- 1st Mortgage Purchases require 80% Loan-to-Value (LTV) of the purchase price, or appraised value, whichever is less.
- Rates are set every Monday, according to the government rate spread.
- We offer 15 year, 20 year & 30 year Fixed rate 1st mortgages.
- We also offer a 7 year balloon 1st mortgage loan.
2nd Mortgages
- 80% Loan-to-Value (LTV) 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 5 year, 10 year, and 15 years.
Up to 100% Loan-to-Value (LTV) (Insured)
- Rates are set by the members credit score.
- Terms are available up to 15 years.
- Over 80% Loan-to-Value (LTV) must meet qualifications.
Mortgage Information
100% Financing
For those purchasing a home or refinancing, that 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.
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
No Private Mortgage Insurance (PMI)
We do NOT charge Private Mortgage Insurance (PMI) on any of our home loans.
Nationwide Mortgage Licensing System (NMLS) Number
Consumers Professional Credit Union Nationwide Mortgage Licensing System (NMLS) #446632
Mortgage Loan Originator (MLO) Numbers
Lansing: 517-372-2400
Kevin (#500634) Wendy (#512194)
Battle Creek: 269-964-2713
Donna (#453986)
Saginaw: 989-793-9188
Sara (#1593389)
Eaton Rapids: 517-663-8176
Vincent (#2554645)
Shannon (#2705296)
How much house can I afford?
When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use our new house calculator to determine how much of a mortgage you may be able to obtain.
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