We are committed to providing a full range of home mortgage loans with competitive rates and exceptional, personal service. Members who come to Option 1 Credit Union for a mortgage constantly refer their friends and family to us. They are delighted by our service and savings, so we know we're doing something right.

The dedicated mortgage staff at Option 1 Credit Union is always on the look-out for innovative home loan programs that can help you reach your dreams:

• Purchase or Refinance
  We have over 70 loan programs available. Yes, it can be a bit overwhelming. But our mortgage specialists will look at your situation and help you find the best loan to accomplish your goals. Unlike some lenders, we offer very good rates on rental/investment properties and 2nd/vacation homes. Be sure to check with us first.
• $275 savings on all pre-approvals!
  Come to Option 1 for a mortgage pre-approval, and we will waive the $275 processing fee. We started offering this discount in July '04 and members have really enjoyed the extra savings.
• The Option 1 "No-PMI" Mortgage
  Now you can avoid expensive PMI (Private Mortgage Insurance) when you come to Option 1 for your mortgage. Normally you'd need to put 20% down on your home to avoid PMI, but Option 1 members only need 10% down. Our members are saving money and enjoying lower monthly mortgage payments. We'd rather see our members pay down their loan principal, than waste the money on expensive PMI.
  NOTE: The loan is written as a 5 year balloon mortgage.
• Vacant Land Loans
  We've often been asked if we loan money for land purchases and now the answer is "yes." Option 1 is a one-stop source for all financing needs when building a new home, from the land purchase to the construction loan, and finally to the end mortgage.
• Construction Loans
  Looking to build your dream home? Option 1 offers a program that allows you to be your own builder, or to contract with a builder to put you into that dream home. Contact us for details.

With all of the mortgage programs we offer, there's no reason to go elsewhere. Give our mortgage department a call now at (616) 243-0125 or (800) 323-2129 and press 3 for mortgages. Or call our experienced, highly qualifed mortgage officers directly:

Julie Hielkema
Mortgage Services Manager
(616) 514-1636 direct
(800) 323-2129 x1228
e-mail

Financial Wizards help with the Real Estate loan process. Consider using one of these:

Residential Loan Pre-Qualifier
Rent vs. Buy
Loan Amortization
Loan Comparison

Mortgage Interest Rates allow you to preview the credit union’s loan programs and the current rates and fees for those programs.

Mortgage Library has a card catalogue that allows you to search for information on many aspects of real estate finance. The catalogue covers definitions, federal regulations, loan documents, articles, mortgage lending overview, and interest rate archives.

Application Interview allows you to fill out a loan application for a mortgage loan or to obtain an estimate on your loan qualifications based on your financials. The loan application has a self-guided tutorial to explain any area of the loan application(s).

Would you like to build your next home? Our innovative home construction financing can make it happen. Call our mortgage experts for details.