Fixed-Rate Mortgage

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

Connect with Michelle

616-301-1714 | NMLS ID: #401292

Private mortgage insurance, or PMI, is insurance that helps protect the lender if a borrower stops making payments on a conventional mortgage loan. PMI is typically required when your down payment is less than 20% of the home’s purchase price or original value.

When PMI is usually required

PMI is most commonly required on a conventional mortgage when you put less than 20% down. It increases the cost of the loan, but it may also help you qualify for a mortgage sooner if you do not have a larger down payment.

When PMI may be removed

In many cases, you can ask to remove PMI once your loan balance reaches 80% of the home’s original value and you meet the lender’s requirements. In general, PMI is automatically terminated when your loan balance is scheduled to reach 78% of the home’s original value, as long as your loan is current.

Need help?

If you have questions about PMI or your mortgage options, connect with a mortgage loan officer for personalized guidance.

An NMLS ID is a unique identification number assigned to mortgage loan originators and mortgage lending institutions through the Nationwide Multistate Licensing System & Registry. It helps identify the person or company handling your mortgage and supports transparency in the mortgage process.

Why it matters

An NMLS ID allows consumers to verify the identity and licensing information of a mortgage professional or lender. It can also help you confirm who you are working with when you review mortgage advertisements, emails, disclosures, and loan documents.

Where you may see it

You may see an NMLS ID on mortgage websites, marketing materials, email signatures, loan paperwork, and other mortgage-related communications. If you want to look up a mortgage professional or lender, you can search the NMLS Consumer Access website.

Need help?

If you have questions about an NMLS ID or want help identifying the mortgage professional working with you, call 844-700-7328 during business hours.

People Driven Credit Union offers a full range of mortgage products, including conventional and government-backed loans, to help you buy or refinance your home. What mortgage products does People Driven Credit Union offer? We provide competitive rates and flexible options through both conventional and government programs. Here is a complete list of our current mortgage products: Conventional Products

• Freddie Mac Fixed Rate
• Fannie Mae Fixed Rate
• Adjustable-Rate Mortgages
• Home Possible (Freddie Mac)
• Home Ready (Fannie Mae)
• Construction
• Super Conforming

Government Products

• FHA
• VA
• RD/USDA

People Driven Credit Union Mortgage Products

• Zero Down Purchase Program
• Doctors Advantage Fixed Mortgage
• Doctors Advantage 7/1 ARM Mortgage
• Mortgage Refinance

Not sure which mortgage product is right for you? We’re here to help. Contact our Mortgage Loan Officer.

When you apply for a mortgage with People Driven Credit Union, you will generally need documents that help verify your identity, income, assets, employment, and insurance information. Having these items ready can help move your application along more smoothly.

Documents you may need for a PDCU mortgage application

• Copy of your driver’s license or state-issued ID, to verify your identity and legal name
• Last 2 years of W-2 forms, to review your employment history and income consistency
• Most recent 30 days of pay stubs, to confirm your current income
• Last 2 years of federal tax returns, including all schedules, to help review your full financial picture
• Most recent 2 months of bank statements, including all pages, to verify assets, down payment funds, and available reserves
• Contact information for your homeowner’s insurance agent, if applicable, to help prepare for closing and insurance requirements

Why these documents matter

These documents help People Driven Credit Union review your mortgage application and determine whether you meet program and underwriting requirements. Depending on your loan type or financial situation, additional documentation may also be requested.

Helpful tips

• Gather your documents before you start the application
• Make sure bank statements include every page
• Use clear scans or photos if you are uploading documents
• Be ready to provide additional information if requested

If you have questions about what to prepare or want help getting started, connect with a mortgage loan officer for additional guidance.