Purchasing, refinancing or building? We can help! We offer fixed rate mortgages with terms up to 30 years. Locally underwritten for quick decisions, and serviced in-house so you receive the outstanding service you’ve come to expect from Embers Credit Union.
Mortgage products we offer:
Three easy steps to applying for a mortgage:
Step 1: Call us to schedule an appointment at 906-228-7080
Step 2: The following documents are recommended so we can provide you with your best options.
For Purchases/Pre-Approvals:
- Two years W-2’s
- Copy of paystubs for the past 30 days
- Bank Statements and Retirement Statements from previous two months (include all pages of the statements)
- Purchase Agreement including any addendums (if applicable)
For Refinances:
- Two years W-2’s
- Copy of paystubs for the past 30 days
- Bank Statements and Retirement Statements from previous two months (include all pages of the statements)
- Mortgage statement from current lender(s)
- Evidence of Home Owners Insurance
Step 3: We provide you with payment options that work into your budget and guide you through the process until your mortgage closes.
It’s that easy! Call us today to simplify the mortgage loan process for you.
No, most realtors prefer that home buyers are pre-approved by a financial institution prior to looking at houses to be sure they are searching in their accurate price range. By being pre-approved you shorten the length of time needed to process your mortgage loan allowing you to move into your new home sooner. In addition, sellers prefer to know that potential buyers are pre-approved when presented with an offer to purchase.
Yes, if you reside, work, or worship in the Upper Peninsula of Michigan you can open a Savings/Share account with a minimum deposit of $5.00 and you become a member of Embers Credit Union. One of the many privileges available to our members is our low fee mortgages with very competitive rates and flexible terms.
Yes, you can pay extra in addition to your regular payment at any time which results in a shortened loan term. This extra amount will be applied as a principal only payment reducing your current balance but will not affect your next payment due date.
Yes, you may set up automatic payments from your account at any time by speaking with one of our member service representatives at any branch location.
We accept payments at any of our branch locations, mobile banking or by telephone at 906-228-7080 or toll free at 1-877-221-1092.
No, we do not have a pre-payment penalty or early termination fee associated with any of our mortgage products.
When purchasing a home, the mortgage process generally takes less than 30 days. Refinances are generally processed in 45 days or less.
In certain circumstances an escrow account may be required. Escrow accounts are highly recommended to our members in order to ensure timely payments of taxes and hazard insurance. With an escrow account, we handle the payment of taxes and insurance for you allowing you to have one less thing to worry about paying on time. Should you have a question about an escrow account, you may contact your loan officer or stop by any of our branch offices./span>
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