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Routing Number: 272479663
Swift Code: MSUCUS44
 
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Totally Green Checking
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SmartLine Home Equity Loan
SmartLine Home Equity Loan
Construction Loan
Planning to build your ideal home? Work with your builder to fine-tune the plans, pick the colors, and trims - we'll help with the financing. MSUFCU Construction Loan allows up to five draws and interest only payments during the draw period (up to 12 months from the loan origination date).

Rates as low as 6.000% (6.097% APR)
• Fixed or variable interest rate with 10, 15, 20, 25, or 30-year terms
• 10% down payment required, less any equity in a borrower-owned lot
• Private Mortgage Insurance required for loans higher than 80% loan-to-value
• Loan amounts up to $4,000,000

To apply, click the Apply Now button below or contact the Mortgage Department directly at 517-333-2424.
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Moves
Earn Cash-Back Rewards on the purchase or sale of your home with Affiliated Moves.
Apply in the Mobile app
On-the-go? With just a few taps of your finger, you can apply for a loan from anywhere with our mobile app.
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What is the difference between a fixed-rate and adjustable-rate mortgage (ARM), and which one should I choose?
The difference between a fixed rate and an adjustable rate mortgage is that, for fixed rates the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down.

With our Conventional Fixed-Rate Mortgage you can select from 10, 15, 20, 25 and 30-year terms with a fixed rate for the length of the loan. A down payment of at least 3% is required.

With our Adjustable-Rate Mortgage your home loan will be at a lower rate for the first 3 to 5 years. Adjustable-Rate Mortgages are perfect for short-term home ownership, large payments towards the loan in the first few years, or for members simply looking to save money with a lower fixed rate for the first 3 to 5 years. Select from 7-1, 5-1, 3-1, and 5-5 ARMs for a 30-year term. The monthly payments are based on a 30-year amortization, and can change throughout the life of the loan. After the initial term, the interest rate adjusts higher or lower based on the 1 year US Treasury market. The rate changes are limited to an increase or decrease of up to 2% at each annual adjustment, and subject to both a minimum rate (floor) and maximum rate (ceiling) over the life of the loan. Our Mortgage Loan Officers can help you identify which option may be best for you.
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What is Private Mortgage Insurance and when is it needed?
Private mortgage insurance (PMI) is a type of mortgage insurance required on mortgage loans with less than a 20% down payment. PMI offers borrowers the ability to purchase their dream home without a 20% down payment. The loan type, credit score and loan to value ratio are taken into consideration when calculating the PMI premium, which is paid monthly as a portion of the total mortgage payment. PMI remains on the loan until there is sufficient equity in the home allowing the homeowner to request cancellation. At 78% Loan to Value, PMI is automatically terminated.
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Get FileBorrowers Bill of Rights
Get FileConsumer Caution and Home Ownership Counseling Notice Get FileElectronic Correspondence Disclosure and Agreement
Get FileMortgage Information
Get FileNationwide Mortgage Licensing Systems IDs
Get FileHome Mortgage Disclosure Act Notice Get FileConsumer Handbook on Adjustable-Rate Mortgage
Get FileCFPB Your Home Loan Toolkit
Get FileReconsideration of Value

Home loans available for homes in the following states: Michigan, Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Minnesota, Missouri, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin. Currently construction home loans are only available in Michigan. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, your rate may be higher.

Mortgage Special Fine Print
MSUFCU members who apply and are approved for a new MSUFCU mortgage will receive a rate as low as 6.000% APR when financing a home with 30% down payment or equity and 740+ credit score. Subject to change, and stated for members with high credit scores. Actual rate may be higher and will be determined by members credit score and term of loan. Cannot be combined with any other mortgage offers.

Fixed-Rate Mortgage Loan Payment Example:
A primary residence, owner-occupied, single family home in Michigan, with a purchase price of $285,714 with 30% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $200,000 borrowed at a 6.000% interest rate (6.097% APR) for a term of 360 months would require monthly payments of $1,199.10. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

Jumbo Fixed-Rate Mortgage Loan Payment Example:
(Minimum loan amount $766,551): A primary residence, owner-occupied, single family home in Michigan, with a purchase price of $1,095,073 with 30% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $766,551 borrowed at a 6.250% interest rate (6.278% APR) for a term of 360 months would require monthly payments of $4,719.79. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

5/1 ARM Mortgage Loan Payment Example:
A primary residence, owner-occupied, single family home in Michigan with a purchase price of $285,714 with 30% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $200,000 borrowed at 5.875% interest rate (6.327% APR) for a term of 360 months would require monthly payments of $1,183.08. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. With a 5/1 ARM, your loan will have an initial fixed-rate period of 60 months. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Rate is variable after the fixed-rate period and subject to change every year for the remaining life of the loan. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

APR is annual percentage rate, and is subject to change. Your rate will depend on your credit score and the term. The loans subject to credit approval.