Consumers Credit Union
Consumers Credit Union

230 Walker Street
Lawton, MI 49065-8771
Phone: 269.345.7804
FAX: 269.624.3203


Mortgage Services

Consumers Credit Union offers a range of mortgage products to make your dream of home ownership a reality. We offer mortgages for primary residences and vacation homes. We also offer refinance opportunities to 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.

Fixed Rate

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.

Benefits include:

* A variety of terms ranging from 10, 15, 20, or 30 years
* Low closing costs to save you money
* Prepay at anytime without penalty

Adjustable Rate

Adjustable rate mortgages are different from traditional, fixed rate mortgages because the interest rate is variable, (typically lower than our fixed rate options), and changes over the life of the loan. Your rate is based on an index. Typically, the index is the yield on appropriate Treasury Bills, reflecting current market conditions. As rates fluctuate, your payments will go up or down accordingly. We can help review your unique situation to see if an adjustable rate mortgage is right for you.

Benefits include:

* A generally lower initial interest rate (saving you money if rates remain
steady or continue dropping)
* Can be beneficial if you plan to stay in your home a short time
* A variety of terms available for more flexibility
* Low closing costs for added savings
* No penalty pre-payment option

Lot Loans

Lot loans enable you to obtain a mortgage for the property of your dreams. A low fixed rate will save you money and only 10% down is required, so your loan will be affordable. Typically, a lot loan carries a 15-year amortized term and 5-year balloon to keep costs down until you’re ready to start construction.

Benefits include:

* Low fixed rates to save you money
* A lower monthly payment with a 15-year amortization
* No penalty pre-payment option

Construction Loans

A construction loan is the perfect option when you need funds to pay your builder for labor and material costs during new home construction.

Benefits include:

* Convenient financing from one lender for both construction and permanent
* Make “interest only” payments during construction for easier budgeting
* Low closing costs to save you money
* Float-down rate locks that allow you to take advantage of lower rates upon
construction completion

During this time, you’ll receive fund disbursements to pay your builder. You’ll be required to pay only the accrued interest on the outstanding balance monthly. Once construction is complete, your loan will be converted to the permanent mortgage selected during the application process.

Whether you’re buying a new home or would like to refinance, we offer low rates, low closing costs, and a full range of mortgage options, including new construction and lot loans.

Call 800.991.2221 to speak with a mortgage professional.

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