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Find the perfect fit for your lifestyle.

Conventional Mortgage Loans

Come home
to peace of mind.

Financing your homeownership dreams

Reduced Closing Costs
Receive a $1,000 closing cost credit when you finance the purchase of a home with Credit Union ONE.
Lock in your Interest Rate
Lock in your interest rate for the first three months while you shop for your perfect home!
Flexible Terms
Variety of terms from 10, 15, 20, and 30 Year available.
Housing Options
Loan available for Primary, Secondary and Investment, Manufactured, and Condos Properties
Private Mortgage Insurance (PMI)
You can avoid paying PMI if you put 20% or more down
Get your Conventional Mortgage today.
Apply Now


Apply for a home loan online or at one of our Michigan branches in Detroit, Grand Rapids, Traverse City and Ann Arbor.


Attend a FREE mortgage webinar!


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Equity 101: Making the Most of It

Learn how to use your home as an Asset for:

  • Unexpected Emergencies 
  • Repairs 
  • Home Improvements 

Topics will also include:

  • Lowering your Interest Rate
  • Consolidating Debt
  • Shortening your Term
  • Accessing your Home's Value
  • and more

Location


Related resources

Find all the helpful tools you need in our Mortgage Center.




Credit Union ONE is owner-partner of Member First Mortgage.

How do I apply for a Conventional Mortgage Loan?

Apply online, in person at any Credit Union ONE Branch or call 833-897-6777 to speak to a Mortgage Lender today!

How much do I need for a down payment?



A conventional mortgage allows you to put down as little as 5%. However, if you put 20% down, then you immediately have equity in your home as soon as close. This is beneficial to if you plan to refinance or sell within a few years. A larger down payment can generally lead to a lower monthly payment and a better interest rate. Our Mortgage Lenders will work with you to find the best options for you budget. 

What is an Escrow Account and what are the requirements for this loan? 

Escrow accounts are like savings accounts that are managed by your mortgage lender. Your lender will deposit a portion of every mortgage payment into your escrow account to cover estimated property taxes, homeowners, and mortgage insurance premiums, long with flood insurance if necessary. It does not cover water/sewer bills, one-time assessments by your local government, nor homeowners association dues, or supplemental tax bills.

This loan requires you to deposit 20% of your mortgage payment into an escrow account.

How do Fixed Rate and Adjustable Rate Mortgages differ?

The principal and interest payment on a Fixed Rate will not change during the fixed period, but on an Adjustable Rate, it could increase or decrease depending on market interest rates.

Is a Fixed Rate or Adjustable Rate better?

The length of time you intend to stay in your current home is usually the determining factor. An adjustable rate mortgage may be right for you if you plan to stay less than 7 years. Ask one of our Mortgage Lenders for the best option for you when you call today. 

What is Private Mortgage Insurance (PMI)?

Private mortgage insurance (PMI) is a form of mortgage insurance that may be required with certain types of loans. If you default on your loan, PMI protects your lender. In the case of a Conventional Loan, you will be required to pay PMI if you put less than 20% down.