The Best Mortgage Lenders in Union, MI
Compare verified mortgage lenders serving Union, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
Hillsdale County Federal Credit Union
Hillsdale County Federal Credit Union
As one of the most established financial institutions in the region, Hillsdale County Federal Credit Union has been serving Union and surrounding communities for over eight decades. They offer personalized mortgage services with competitive rates and local decision-making. Their strong community focus and member-centric approach have earned them exceptional customer satisfaction ratings. With deep roots in Hillsdale County and surrounding areas, they understand the local real estate market and provide tailored mortgage solutions for both urban and rural properties in the Union area.
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Great Lakes Mortgage Solutions
Great Lakes Mortgage Solutions
This highly-rated mortgage brokerage firm serves Union and throughout Southern Michigan with exceptional customer service and extensive lending options. As an independent broker, they work with multiple lenders to find the best rates and terms for each client's unique situation. Their team of experienced mortgage professionals specializes in both purchase and refinance transactions, with particular expertise in rural properties common in the Union area. Their nearly perfect rating reflects their commitment to transparent communication and smooth closing processes.
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Level One Bank
Level One Bank
Level One Bank has built a strong reputation throughout Southwest Michigan, including service to Union residents, with their comprehensive mortgage lending services and local decision-making authority. They offer competitive rates and a wide range of loan products, including specialized options for rural properties and construction lending. Their experienced loan officers provide personalized service from application through closing, and their physical branch network throughout the region ensures accessible, face-to-face service when needed. The bank's strong community involvement and consistent high ratings demonstrate their commitment to customer satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Union, MI
What are the current mortgage rates like in Union, MI compared to the state average?
Mortgage rates in Union, MI are typically very competitive and often align closely with Michigan's state average. However, due to Union's rural nature and smaller market, some lenders might offer slightly different rates, so it's wise to compare offers from both local credit unions and national lenders. As of late 2023, rates for a 30-year fixed mortgage in the area generally range in the mid-6% to low-7% range, but this can vary daily.
Are there any down payment assistance programs available specifically for homebuyers in Union, MI?
Yes, homebuyers in Union may be eligible for statewide programs like MSHDA's Down Payment Assistance, which offers up to $7,500 in a zero-interest, forgivable loan for eligible borrowers. Since Union is located in Cass County, buyers should also check with the Cass County Michigan State Housing Development Authority (MSHDA) office or local lenders for any county-specific first-time homebuyer programs or grants that can help with closing costs and down payments.
How does Union's rural location affect the mortgage appraisal process?
Union's rural setting can impact appraisals, as comparable home sales ("comps") may be fewer and farther between than in urban areas. This can sometimes lead to longer appraisal times or challenges in establishing value if recent sales data is limited. It's advisable to work with a lender experienced in rural Michigan properties who can ensure the appraiser is familiar with valuing homes in Cass County's market.
What types of properties in Union, MI might require special financing considerations?
Union has many homes on larger lots, acreages, or with features like wells and septic systems, which are common in rural Cass County. These properties may require specialized loans such as USDA Rural Development loans (for which Union is eligible) or may need additional inspections for septic/well systems. Homes with significant land or agricultural use might not qualify for conventional loans and could need a rural or land loan product.
Are there any local credit unions or banks in Union that offer unique mortgage products?
While Union itself is a small village, nearby communities like Cassopolis and Edwardsburg have local credit unions and community banks that often offer personalized mortgage services and sometimes portfolio loan products tailored to the area. Institutions like United Federal Credit Union or 1st Source Bank, which have branches in the region, may provide flexible underwriting or special first-time homebuyer programs that benefit Union residents.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Michigan.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Union and get competitive rates on your home loan.