Home Possible® Mortgage Loans

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

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

A Home Possible® Mortgage Loan is a flexible and affordable loan program from Freddie Mac designed to help low-to-moderate income borrowers and first-time homebuyers achieve homeownership. It features low down payment requirements and flexible credit terms.

Home Possible® Mortgage Loans are available to creditworthy low-to-moderate income borrowers. Income limits typically apply, and your income must generally be at or below 80% of the area median income (AMI) for the location of the property. The program is open to both first-time and repeat homebuyers.

The minimum down payment required for a Home Possible® Mortgage is as low as 3% of the home's purchase price. This low down payment option makes it easier to afford a new home without a large upfront cost.

Yes, Home Possible® allows you to use gift funds from relatives, friends, or other eligible sources for your down payment and closing costs. Grants and down payment assistance programs can also be used.

Home Possible® Mortgages can be used to finance various types of properties, including single-family homes, condominiums, and multi-unit properties (up to four units). The property must be used as your primary residence.

The minimum credit score required for a Home Possible® Mortgage is typically 620. However, having a higher credit score can improve your chances of qualifying and securing better interest rates.

Your debt-to-income ratio should generally not exceed 50%. This means that your total monthly debt payments, including your new mortgage, should be 50% or less of your gross monthly income.

Yes, Home Possible® requires first-time homebuyers to complete a homeownership education course from an approved provider, such as CreditSmart. This course helps prepare you for the responsibilities of homeownership and provides valuable financial insights.

Yes, Home Possible® offers refinancing options that can help you take advantage of lower interest rates and better loan terms.

Home Possible® offers numerous benefits, including low down payment options, flexible underwriting standards, competitive interest rates, and the ability to use various sources of funds for down payments. It also promotes financial literacy through required homeownership education.

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

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

The NMLS ID# (Nationwide Multistate Licensing System & Registry Identification Number) is a unique identifier assigned to mortgage loan originators (MLOs) and institutions involved in mortgage lending. It was created by the federal government to increase transparency and accountability in the mortgage industry. Why the NMLS ID Matters The NMLS database tracks licensing status, employment history, and any regulatory actions. This helps protect consumers by making sure only properly licensed professionals handle your mortgage. You can verify any loan officer or lender instantly. Where You Will See the NMLS ID Mortgage professionals must display their NMLS ID on all advertising, loan documents, emails, and websites. At People Driven Credit Union, every mortgage team member proudly shows their NMLS ID so you always know who you are working with. It is a unique identifier assigned to mortgage loan originators and institutions. You can verify any MLO or company at the official NMLS Consumer Access website. Get Help from Our Team Call us at 844-700-7328 during business hours. Our team explains what an NMLS ID is and shares the NMLS ID for any loan officer working on your file. You can also visit any branch in Livonia, Southfield, Warren, Ypsilanti, or Romeo. 5 Helpful Hints About NMLS IDs

1. First, always look for the NMLS ID on any mortgage advertisement or document.
2. Next, verify the ID at the official NMLS Consumer Access website.
3. Also, ask your loan officer for their personal NMLS ID number.
4. Then, check the company’s NMLS ID for People Driven Credit Union.
5. Finally, contact us at 248-263-4100 to confirm any NMLS ID on your loan file.

People Driven Credit Union uses the NMLS system to ensure complete transparency and consumer protection in every mortgage transaction. You can trust that every team member helping you is properly licensed and registered. Many members appreciate the peace of mind that comes from knowing exactly who is handling their home loan.

To apply for a mortgage, you will need to provide the following documents to verify your identity, income, assets, and employment. Required Documents & Why They are Needed

• Copy of your driver’s license or state-issued ID – Verifies your identity and legal name.
• Last 2 years of W-2 forms – Prove your employment history and income stability.
• Most recent 30 days of pay stubs – Shows your current income and allows us to calculate your debt-to-income ratio accurately.
• Last 2 years of Federal Tax Returns (including all schedules) – Confirms your reported income and helps lenders assess your overall financial picture.
• Most recent two months of bank statements (all pages) – Verifies your assets, down payment funds, and that you have enough reserves after closing.
• Contact information for your homeowner’s insurance agent – Required to set up the proper insurance coverage for the property at closing.

Why These Documents Matter Lenders use these documents to confirm you can afford the loan and meet underwriting guidelines. Having them ready when you apply can shorten your approval time from weeks to days. 5 Helpful Hints When Preparing Mortgage Documents

1. Gather everything before you apply — it can save you weeks of delays.
2. Make sure all pages of the bank statements are included.
3. Include all W-2s and tax returns, even if you filed jointly.
4. Scan or take clear photos of your documents for easy upload.

To check the status of your loan application, contact People Driven Credit Union at 248-263-4100 during business hours or reach out to your assigned loan specialist if you have their contact information. Be ready to verify your identity and share details such as your name, member number, or application number so we can review your application with you.

When you check your status, it is also a good idea to ask whether any additional documents or information are needed to keep your application moving. Review times can vary based on the loan type and the information required, so contacting us directly is the best way to get the most current update on your application.