Mortgage Loan Options

Not every home loan works the same way, and the right one depends on where you are in life. Are you buying your first home and working with a smaller down payment? Refinancing to a lower rate? Building from the ground up? Each situation calls for a different loan structure, and that matters both for your monthly payment and your long-term costs.

Here is a quick way to think about it. Fixed-rate loans give you a payment that never changes, which makes budgeting easier over time. Adjustable-rate mortgages start lower and can work well if you plan to move or refinance within a few years. Government-backed loans like FHA, VA, and USDA options are designed to make homeownership more accessible with lower down payment requirements or zero down for those who qualify. Specialty programs like HomeReady and Home Possible are built for buyers with moderate incomes who still want a real path to owning a home.

As a credit union, PDCU serves members across Michigan. All lending decisions are made without regard to race, color, religion, national origin, sex, familial status, disability, or any other protected class. We follow the Equal Credit Opportunity Act and the Fair Housing Act in all mortgage-related activities.