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People Driven Credit Union

Freddie Mac Fixed Rate Mortgage Loans

Achieve Homeownership with Stability and Confidence

Get Your Personalized Quote

Simplify Homeownership with a Freddie Mac Fixed Rate Mortgage Loan

Buying a home is one of the most significant financial decisions you’ll ever make. That’s why we offer Freddie Mac Fixed Rate Mortgage Loans, designed to provide you with the stability and confidence you need to turn your dream of homeownership into reality. Your monthly principal and interest payments will never change, making it easier to plan your budget and manage your finances.

Our experienced mortgage team is here to guide you through every step of the home buying process, ensuring you find the right loan to fit your needs. As a member-owned credit union, we prioritize your best interests, offering personalized service and expert advice.

Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations.

Meet Our Mortgage Loan Officer

Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.

Michelle Dzon

Michelle Dzon

Member First Mortgage
michelle.dzon@memberfirstmortgage.com
616-301-1714 | NMLS ID: #401292 | People Driven Credit Union NMLS ID: #776727

 

Why Choose a Freddie Mac Fixed Rate Mortgage?

Consistent Payments: With a fixed rate mortgage, your interest rate and monthly payments remain constant, regardless of market fluctuations. This stability makes it easier to budget and plan for the future.

Flexible Terms: Choose from a variety of loan terms, including 15, 20, and 30 years, to fit your financial goals and timeline.

Competitive Rates: Benefit from our competitive interest rates, helping you save money over the life of your loan.

No Surprises: Enjoy the peace of mind that comes with predictable payments, eliminating the worry of rising interest rates.

Benefits of Freddie Mac Fixed Rate Mortgages

Budgeting Made Simple: Fixed payments mean no surprises, allowing you to plan your finances with certainty.

Long-term Savings: Locking in a low rate now can lead to significant savings over the life of your loan.

Homeownership Stability: A fixed rate mortgage provides stability, especially valuable for families and individuals looking for long-term housing solutions.

Easy Qualification: Freddie Mac loans have flexible credit requirements, making it easier for more people to qualify.

Frequently Asked Questions

Meet Our PDCU Mortgage Specialist

Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.

Michelle Dzon

Michelle Dzon

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

A Freddie Mac Fixed Rate Mortgage Loan is a home loan with an interest rate that remains constant throughout the life of the loan. It is backed by Freddie Mac and provides borrowers with predictable monthly payments, making it easier to budget and plan for the future.
Eligibility for a Freddie Mac Fixed Rate Mortgage Loan typically includes having a stable income, a good credit score, and a manageable debt-to-income ratio. Specific eligibility criteria can vary, so it’s best to contact People Driven Credit Union for personalized information.
Down payment requirements can vary, but typically range from 3% to 20% of the home’s purchase price. Lower down payments may require private mortgage insurance (PMI).
The minimum credit score required is generally around 620, but higher credit scores can help you qualify for better interest rates and loan terms.
Eligible properties include single-family homes, condominiums, and multi-unit properties (up to four units). The property must be used as your primary residence.
Common loan terms include 15, 20, and 30 years. The term you choose will affect your monthly payments and the total interest paid over the life of the loan.
When you're planning to buy a home or refinance, choosing the right mortgage can make a big difference in your financial future. A Freddie Mac fixed-rate mortgage offers the security of consistent payments and long-term stability—making it a popular option for homebuyers seeking predictability and peace of mind. Here's why this type of loan could be the right fit for you:
  • Predictable Monthly Payments: Your interest rate and monthly payments remain the same throughout the life of the loan.
  • Stability: Fixed rates provide financial stability and simplify long-term budgeting.
  • Flexibility: Available for various property types and occupancy situations.

More Advantages

Lower Risk Compared to Adjustable-Rate Mortgages (ARMs)

Unlike ARMs, where rates can increase over time, fixed-rate loans remove the uncertainty of changing interest rates. This lower risk appeals especially to first-time buyers and long-term homeowners.

A Good Fit for Long-Term Homeowners

If you plan to stay in your home for several years, a fixed-rate mortgage can be more cost-effective in the long run. You'll avoid future refinancing due to rate hikes and enjoy consistent payments from start to finish.

Interested in Learning More About Freddie Mac Loans?

Contact one of our mortgage experts to find out what kind of loan makes the most sense for you. Whether you are a first-time home buyer, a low-income borrower, or a current homeowner looking to refinance, People Driven Credit Union can answer your questions and find the perfect mortgage product for you.
Yes, refinancing with a Freddie Mac Fixed Rate Mortgage can help you secure a lower interest rate, reduce your monthly payments, or change your loan term to better suit your financial goals.
PMI is insurance that protects the lender if you default on your mortgage. It is typically required if your down payment is less than 20% of the home’s purchase price. PMI can be canceled once you have enough equity in your home.

How much does PMI cost?

The cost of PMI can vary depending on factors like your credit score, mortgage loan type, and down payment size. On average, PMI ranges from 0.3% to 1.5% of the original loan amount per year, typically added to your monthly mortgage payment.

Can I remove PMI from my mortgage?

You can request to remove PMI once your loan-to-value (LTV) ratio reaches 80%, either through regular payments or increased home value. Most lenders automatically cancel PMI when your LTV hits 78%, as long as you’re current on your payments.

Contact a PDCU Mortgage Specialist Today

Do you have more questions about when PMI is required, or any other mortgage-related questions? Reach out to our loan department for a mortgage loan application to start your home ownership journey.
Apply online or contact our mortgage specialist, Michelle Dzon, who will guide you through the application process, help you understand your options, and determine your eligibility. Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.

Michelle Dzon

Michelle Dzon

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

For most borrowers, there’s very little difference between a Freddie Mac Fixed Rate Mortgage and a Fannie Mae Fixed Rate Mortgage. Both are government-sponsored enterprises (GSEs) that purchase loans from lenders like PDCU, and both offer conforming fixed-rate loans with similar terms, credit requirements, and down payment options.

The biggest difference is behind the scenes: Freddie Mac loans are typically underwritten using Loan Product Advisor®, while Fannie Mae loans use Desktop Underwriter®. Some of the qualification guidelines—such as how income or co-borrowers are evaluated—may vary slightly between the two systems. In many cases, lenders will run your application through both and choose the one that offers the best approval path.

Both options can help you secure a stable, fixed-rate mortgage with predictable monthly payments—and your lender will help match you with the right one based on your financial profile.

  • Copy of your driver’s license
  • Last 2 years W2’s
  • Most recent 30 days span of paystubs
  • Last 2 years Federal Tax Returns
  • Most recent two months bank statements, all pages
  • Contact information for homeowner’s insurance agent
You may give us a call at 248-263-4100 to speak with the loan department.

 

Disclosures

Equal Housing Lender logo

Equal Housing Lender. Member First Mortgage, LLC (MFM) NMLS ID# 149532. All loans are subject to credit approval. Terms and conditions apply. Mortgage insurance may be required based on borrower qualifications. Program availability is subject to change without notice.

Mortgage rates change daily; therefore, inquire with PDCU for current mortgage rates.

Enjoy the added convenience of making payments with direct deposit. *Use of a calculator tool is not a guarantee of credit.

*Available to all borrowers using a Conventional or Government mortgage loan program on a purchase or refinance transaction with People Driven Credit Union, NMLS ID# 776727, and Member First Mortgage, LLC (MFM), NMLS ID# 149532 only. All loans are subject to approval. additional restrictions may apply.

  • Lower your monthly mortgage payment
  • Eliminate Mortgage Insurance payments

Closing Costs Promo:

Conventional Disclosure: Available to all borrowers using a conventional mortgage loan program on a purchase or refinance transaction with People Driven Credit Union, NMLS ID: 776727, and Member First Mortgage, LLC (MFM), NMLS ID: 149532. Eligibility requires a borrower credit score of 620 or higher; detached, owner-occupied properties only. Refinancing an existing mortgage loan may result in higher total finance charges over the life of the loan. This is not a commitment to lend.

Member First Mortgage, LLC is an affiliate of People Driven Credit Union.

  • People Driven Credit Union: 24333 Lahser Rd., Southfield, MI, 48033 | (248) 263.4100 | NMLS ID: 776727.
  • Member First Mortgage, LLC Corporate Office: 616 44th Street SE, Grand Rapids, MI 49548 | (866) 898.1818 | NMLS ID: 149532.

Equal Housing Opportunity.

Example: Based on a $200,000 loan with a conventional 30-year fixed rate term (360 monthly principal and interest payments of $1,280.62, not including taxes and insurance); annual percentage rate (APR) of 6.732%. The down payment assumes a 5% cash requirement by the borrower, with 95% financing.

The cost of Private Mortgage Insurance (PMI) is waived as part of this promotion, to be paid by the Lender.  This is not a commitment to lend. All lending products are subject to credit and property approval. Refinancing an existing mortgage loan may result in higher total finance charges over the life of the loan. People Driven Credit Union 24333 Lahser Road, Southfield, MI 48033 | (248) 263.4100| NMLS ID: 776727.

$100,000 – 30-year term at the interest rate of 7.928%, the monthly payment would be approximately $729.

Payment Examples Do not include taxes and insurance; the actual payment obligation will be higher.

*APR = Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate.

SAFE Act Compliance Testing:
We conduct annual independent testing of our mortgage compliance in accordance with the SAFE Act (Reg G) requirements.

All other trademarks are the property of their respective owners.

Equal Housing Lender logo People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727

Membership Requirement:

All accounts and loans require membership at People Driven Credit Union. Membership is available to individuals who live, work, worship, or attend school in the State of Michigan, as well as relatives of current members. To complete an application for any account or loan, you will need the following information:
  • A valid Driver's License, State ID, or Passport with your current address
  • Your Social Security Number
A Membership Share Savings Account is required to establish membership at People Driven Credit Union. A $5 deposit secures your ownership share in the credit union and unlocks access to our full suite of products and services. This account earns 0.01% APY with a $5 minimum deposit.