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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
Congratulations on taking the next
step toward homeownership!
We're here to help you with one of the biggest financial decisions you will make, homeownership. The resources below will help you understand the home-buying process a little better, know what to ask, and help you get the right tools and people on your side.

Choose from:
• 10, 15, 20, 25, and 30-year terms
• A fixed or variable interest rate
• Down payment of as little as 3%

Plus, first time homebuyers will receive $500 off of closing costs and a house-warming gift!

To apply, click the Apply Now button below or contact the Mortgage Department directly at 517-333-2424.
Affiliated
Moves
Earn Cash-Back Rewards on the purchase or sale of your home with Affiliated Moves.
Apply in the
Mobile App
On-the-go looking at houses? With just a few taps of your finger, you can apply for a mortgage from anywhere with our mobile app.
As low as
3% down
With as low as 3% down on your mortgage, you'll be able to save the rest of your money for the expenses that come with owning a new home.
Streamline Refinance
If you have an existing MSUFCU mortgage and are looking to lower your rate, and possibly shorten the term of your loan, a Streamline Refinance may suit your needs.
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How can I take advantage of the First Time Home Buyer Savings Account Program?
The State of Michigan is offering a tax deduction on dividend earnings for savings accounts of first time home buyers when funds are used for a first time home purchase. Members can save and use these funds toward a down payment of up to $50,000 through 2026. This program potentially allows first time home buyers to not have to pay income tax on the account earnings if their tax return is filed with supporting documentation.

For more information about this program, click here.
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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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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 a Mortgage Preapproval?
A mortgage pre-approval means your application has received an initial review and approval. In many cases, our online application system can issue an immediate pre-approval. You may be asked to provide some basic financial documentation such as paystubs and W-2's. The loan officer will review your credit report and application to determine your ability to repay, credit worthiness, and the terms requested. A pre-approval letter from your loan officer demonstrates to the real estate agents and the sellers that you are a serious and qualified buyer. Mortgage pre-approvals are good for 120 days from the date of the credit application.
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My offer was accepted now what?
You will need to schedule an inspection, order an appraisal, and request a homeowners insurance quote.

After you have received an accepted offer, determine if you will have a home inspection for the structure and pests, as well as a radon test. After the inspection has been completed we will order the appraisal and title work.

You will also want to begin obtaining homeowners insurance quotes early. This will give you adequate time to compare quotes and determine if your insurance agent will need to visit the property.

View additional information on funds needed for closing and view some helpful reminders.
View All FAQs
Get FilePrivacy Notice
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

Receive $750 off closing costs offer valid for new mortgages of $150,000 or more. Closing cost discount will be provided as lender credit. Offer cannot be used toward down payment or with any other discounts and is not available on home equity lines of credit. Valid on new loans and loans refinanced from other lenders. Streamline Refi mortgages are not eligible for this promotion. All usual and customary fees will be charged to the buyer. Loans are subject to credit approval. Applications must be received by 1/31/25 and mortgage must close by 4/30/25. Eligible properties include primary and secondary residences: single-family homes, condominiums, and modular homes. 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. Construction home loans are only available in Michigan and Illinois. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, and your rate may be higher. This offer may not be transferred, sold, or replicated in any way, and it may not be combined with any other mortgage offers.

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.

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 6.500% interest rate (6.600% APR) for a term of 360 months would require monthly payments of $1,264.14. 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 6.625% interest rate (6.654% APR) for a term of 360 months would require monthly payments of $4,908.31. 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 6.375% interest rate (6.772% APR) for a term of 360 months would require monthly payments of $1,247.74. 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.