Team One Credit Union offers fixed rate mortgages with terms of 10, 15, 20 and 30 years all across Michigan. We also offer Rural Development Mortgages and Land Loans that will fit your needs. For more information on mortgage or home equity products, please contact one of our mortgage specialists today!
Team One has branches throughout Michigan provide dedicated Mortgage Specialists who will help you with your mortgage needs.
For a detailed quote on closing costs, click 'Apply for a Mortgage'. Next, choose 'Check Rates' and answer a few basic questions to receive a detailed estimation of the closing costs for your loan. For our most up-to-date mortgage rates, click here.
Specialty Mortgages
Specialty Mortgages for the specialists!
Team One offers special programs and pricing for:
- First Time Home Buyers
- Education Employees
- First Responders
- Physicians and Healthcare Professionals
We offer up to 97% financing.
Construction Mortgages
Building a new home? We have you covered.
A Team One Construction Loan Includes:
- Vacation and Primary Residence
- 6-12 month terms
- Minimum 20% down*
FAQ
Do I have to pay any fees up front when I apply for a mortgage?
The credit union requires a $400.00 application deposit to be collected before we can begin processing your loan. As long as your mortgage loan closes, the $400.00 deposit is credited back towards your closing costs. However, if for any reason the loan does not close, all or a portion of the deposit may be non-refundable.
What documentation do I generally need to apply for a mortgage?
Generally: Two current pay stubs; Two years W-2 forms; Two years signed tax returns; Two months current bank statement (must show your name and the name of the financial institution); Current retirement statements (must show your name and company name); Other asset statements: stocks, bonds, mutual funds, etc.; Proof of home owner's insurance; Valid driver's license. If applicable: Property tax bills; Current mortgage statement; Signed accepted purchase agreement.
How long do I have to be employed to qualify for a mortgage?
Generally two years with the same employer or in the same line of work is considered stable work history. Also, schooling in a field related to your current employment is considered to be in the same line of work. Other situations will be reviewed on a case-by-case basis.
Have other questions not listed here?
Give us a call at 888-288-3261 and we'll be glad to help!