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Mortgage Specials
No PMI*
up to 95% Loan to Value
*No Private Mortgage Insurance (PMI) up to 95% loan to value (LTV) on conventional portfolio loans applications through 10/31/2023. The minimum credit score for a 95% no PMI offer is 680. Available on a purchase or refinance transaction with People Driven Credit Union. Can now be combined with our $99 Closing Cost* mortgage special!
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 5% cash required 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 cause the total finance charges to be higher over the life of the loan.
People Driven Credit Union 24333 Lahser Road, Southfield, MI 48033 | (248) 263.4100|
People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727$99 Origination Fee Special*
Now through October 31st 2023!
*Available to all borrowers using a conventional mortgage loan program on a purchase or refinance transaction with People Driven Credit Union, NMLS ID: 776727,
Can now be combined with our No PMI* mortgage special!
Eligible loan applications must be submitted between 4/1/2023 and 10/31/2023. Discount will not be applied until closing on the appropriate closing documents. People Driven Credit Union reserves the right to cancel this promotion without notice.
All lending products are subject to credit and property approval. Terms, conditions, and interest rates are subject to change without notice. Certain restrictions may vary based on borrower qualification and collateral conditions. Refinancing an existing mortgage loan may cause the total finance charges to be higher over the life of the loan. This is not a commitment to lend.
People Driven Credit Union 24333 Lahser Rd., Southfield MI, 48033 | (248) 263.4100 |
People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727 -
Overview
Mortgage Products:
- Freddie Mac Fixed Rate
- Fannie Mae Fixed Rate
- Adjustable-Rate Mortgages
- Home Possible (Freddie Mac)
- Home Ready (Fannie Mae)
- Construction
- Super Conforming
- FHA
- VA
- RD/USDA
What to do during the Mortgage loan process
- Quickly respond to all requests for documents
- Pay all bills on time because a credit report will be pulled before closing
- Don’t apply for any other credit accounts
- Shop for insurance for the new home
Helpful links to important resources:
People here are never in too much of a hurry to answer all my questions. They always have a smile on their face.
Mea e.
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Mortgage Refinance
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Simplify your debt
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Member Reward Offers
We believe our members deserve to be rewarded that is why PDCU rewards you for all types of activity.
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Up to 2% Rate Reduction on Select ARM Loans
Our Adjustable Rate Mortgage (ARM) loans offer rates up to 2% below current conventional fixed mortgage rates.
Lock in at a lower initial mortgage rate for 5 or 10 years** with a People Driven Credit Union ARM loan. Even with mortgage rates on the rise, with a 5/6 or 10/6 ARM loan product, you may be able to keep a more favorable interest rate!
- 5/6 ARM Loan Rate is up to 2% below the current initial conventional fixed rate for 5 years**.
- 10/6 ARM Loan Rate is up to 2% below the current initial conventional fixed rate for 10 years**.
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Rates
Complete this short form to get the latest mortgage rates
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FAQs
Frequently Asked Questions
- Conventional Products
- Freddie Mac Fixed Rate
- Fannie Mae Fixed Rate
- Adjustable-Rate Mortgages
- Home Possible (Freddie Mac)
- Home Ready (Fannie Mae)
- Construction
- Super Conforming
- FHA
- VA
- RD/USDA
- 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
People Driven Credit Union wants to be your mortgage lender! We partner with Member First Mortgage to provide you with a wide range of mortgage services. Whether you are buying your first home, building your dream home, moving up, or scaling down, Member First Mortgage has many programs to fit your needs. Apply for your mortgage today by clicking the link or calling (866) 898-1818.
Disclosures
Mortgage rates change daily; therefore, inquire with PDCU for current mortgage rates.
Enjoy the added convenience of making your payments with a 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. Discount will not be applied until the time of closing on the appropriate closing documents. This promotion may not be combined with any other promotion or discount. All loans are subject to approval. People Driven Credit Union reserves the right to cancel this promotion at any time without notice. Additional restrictions may apply.
- Lower your monthly mortgage payment
- Eliminate Mortgage Insurance payments
- Consolidate debt Draw on your home’s equity, and get cash out!
- Switch from an Adjustable Rate (ARM) to a Fixed Rate loan
Closing Costs Promo:
“Conventional & ARM Loan 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. For those using a 5/6 or 10/6 ARM loan product, this promotion offers a rate reduction up to 2% below the initial conventional fixed rate on applicable ARM products through 10/31/2023. Eligibility requires a borrower credit score of 620 or higher; detached, owner-occupied properties only.
Discount will not be applied until closing on the appropriate closing documents. This promotion can be combined with our No PMI mortgage promotion and other offers or promotions; certain restrictions apply. People Driven Credit Union reserves the right to cancel these promotions at any time without notice. All lending products are subject to credit and property approval. Terms, conditions, and interest rates are subject to change without notice. Certain restrictions may vary based on borrower qualification and collateral conditions. 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.
No PMI Program:
**No Private Mortgage Insurance (PMI) up to 95% loan to value (LTV) on conventional portfolio loans applications through 10/31/2023. The minimum credit score for a 95% no PMI offer is 680. Available on a purchase or refinance transaction with People Driven Credit Union.
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 5% cash required 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 cause the total finance charges to be higher 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 not including 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.
People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727
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