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Home Loans in Michigan

Mortgage Loans
Home Equity Loans
 

Mortgage Products Available Through Wildfire Credit Union

Home Loans, Saginaw, MI, House Photo - Wildfire Credit UnionWith locations in Bay City, Midland and Saginaw, Wildfire Credit Union is your headquarters for home loans in Michigan. We are committed to providing a full range of mortgage loans with competitive rates and exceptional personal service. We offer the following terms to suit a variety of mortgage lending needs: 10, 15, 20 and 30 year fixed rate mortgages along with 5, 7 and 10 year balloon products. All loans will be serviced by Wildfire Credit Union. Homes must be owner occupied and located in the state of Michigan. Visit or call any of our locations in Bay City, Midland or Saginaw for more information. 

Current rates, closing costs, and disclosures are available on our rates board. (All rates are subject to change without notice.) Please call our Mortgage Department at 800-227-2328 x 8200 or 989-249-8200 to apply for any of the following mortgage products offered through Wildfire Credit Union.

Primary Residence Purchase Transactions - Borrow up to 95% of the appraised value or sales price, (whichever is less). (For loans greater than 80%, PMI, Tax, and Insurance Escrow are required.) 

Please contact the credit union for maximum Loan to Value guidelines on refinanced transactions.

Vacant Land - Borrow up to 70% of the appraised value for up to 15 years with a 3 year balloon.

Home Cash Equity Loan - Borrow up to 100% of the appraised value or 80% of double SEV, less the balance owing on your 1st mortgage for up to 20 years with a 5 year balloon.

Home Equity Line of Credit - Borrow up to 100% of the appraised value or 80% of double SEV, less the balance owing on your 1st mortgage for up to 25 years with a 10 year draw period.  For special disclosure information, click here.

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Home Equity Loans

Wildfire Credit Union offers two great Home Equity loan options. Our Home Cash Equity Loan is a loan made for a specified amount and term of re-payment. Our Home Equity Line of Credit is a revolving line of credit based on the available equity in your home. This loan has a 10-year period during which you have the ability to draw funds on the loan up to the maximum line established at the time of application.

Home Equity loan interest may be tax deductible; check with your tax professional to find out if your situation applies.

Use the equity in your home to:

  • consolidate debts
  • do home improvements
  • buy a vehicle
  • any good purpose

Home Cash Equity Loan

A loan for a specific amount, you may borrow up to  100% of the appraised value or 80% of double SEV, less the balance owing on your 1st mortgage. For loan amounts greater than $50,000, appraisal and title work are required.

Minimum loan amount $5,000.
Maximum loan amount $250,000.
Maximum term 20 years with a 5-year balloon.
Closing Costs $100 plus $12 for single credit report or $16 for joint
Plus cost of appraisal and title work if needed.
Click here for important rate and disclosure information.

Home Equity Line of Credit

Get a line of credit to borrow up to 100% of the appraised value or 80% of double SEV, less the balance owing on your 1st mortgage. There are no transaction, activity, membership or participation fees.  For loan amounts greater than $50,000, appraisal and title work are required.

Minimum loan amount $5,000.
Maximum loan amount $250,000.
Maximum term 25 years with a 10 year draw period.
Closing Costs

Cost of appraisal and title work if needed. 

Click here for important rate and disclosure information.

*The Plan Rate - which is a variable rate based on prime and is reviewed on the second to the last business day of the month. The maximum APR that may be charged under the plan is 18%. Payments are based on a fixed payment factor of $1.30 / $100 borrowed (without credit life and disability insurance) and $1.45 / $100 borrowed (with credit life and disability insurance). **Fees may be waived or refunded. Additional charges may apply if you request an appraisal. Average cost of an appraisal ranges from $250 - $400.

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