If you're in the market to purchase/build a home UMCU has Mortgage Loans to help you reach your goals. Or, use the equity in your home to finance a variety of needs, with a Home Loan. Make home improvements, pay for college tuition, purchase a new car, consolidate debt or take that dream vacation. UMCU offers competitive rates and various loan options to meet your needs.
Home Equity Loans
Use the equity in your home to apply for a closed-end home equity loan, home equity line of credit, or Visa Gold Home Equity Line of Credit. Credit limits are available up to 95% of the appraised value of your home (less mortgage and liens), with a minimum of $10,000 and a maximum of $250,000 for the closed-end and line of credit and $75,000 for the Visa Gold. The property must be located in Michigan.
Obtain substantial amounts of cash for home improvements, college tuition, buying a second home, or for many other reasons.
UMCU offers several easy ways to apply:
- You can submit your application at any of our branch locations.
- You can pick up an application packet from your local branch or download it here. You can email the finished application to firstname.lastname@example.org or drop it off at any branch location.
- You can schedule an appointment to apply and talk with an home equity loan expert today by calling 734-662-8200 or 800-968-8628 ext. 2150.
Once your home equity loan is approved, you can also make transactions online through our free MemberNet online banking service:
- Home Equity Line of Credit - make advances and payment transfers.
- Closed End Home Equity - make payment transfers.
- Visa Gold Home Equity Line of Credit - make advances and payment transfers.
You can protect your family, assets and credit rating by reducing financial burden during specified life event losses. To learn how you can purchase additional protection on your home equity loan from unemployment, loss of life, or disability, click here.
* We suggest members consult their tax advisors for all tax advantages.
**All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Property insurance is required. Not valid with any other offer. APR=Annual Percentage Rate. Other restrictions and limitations may apply.
***$1,000 minimum loan amount for home improvements.
Mortgage services provided by MemberFirst Mortgage LLC (NMLS #149532) and UMCU (NMLS #712343).
TruStage Auto and Homeowners Program
You trust University of Michigan Credit Union to provide you and your family with quality products and services to meet your financial needs. We've joined with a dedicated team of insurance professionals to bring you the TruStage Auto and Homeowners Insurance Program.
- TruStage Auto and Homeowners is the property and casualty coverage solution preferred by the most credit unions and their members.
- Convenient e-service, pay your bill or make changes to your policy, even report a claim.
- Receive fast, easy access to claims service 24-hours a day.
- Obtain a free no obligation quote or locate an agent at the local Liberty Mutual sales office.
TruStage™ Auto Insurance Program is made available through TruStage Insurance Agency, LLC and issued by leading insurance companies. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union.
Mortgage services provided by MemberFirst Mortgage LLC (NMLS #149532) and UMCU (NMLS #712343)