WCCU Mortgage

Local. Simple. Trusted.

WCCU Mortgage offers options so accessible they make the dream of a home, your reality.

Whether you are considering buying a new home or refinancing your current home Wexford Community Credit Union has a home mortgage to suit your needs.

Below you will find links to many WCCU forms that are downloadable for your convenience. Please note that these forms must be presented at a branch for processing, as we do not allow for electronic transmission of your information to ensure your protection.

Meet Your LOCAL Mortgage Team

Robert Marcus
Senior Lending Specialist Residential 
& Commercial Lending
rmarcus@wexccu.com
O: 231.775.2081
NMLS #707451

Sharilyn Booms 
Senior Lending Specialist Residential 
& Commercial Lending
sbooms@wexccu.com
O: 231.839.2081
NMLS #645407

Levon Garbooshian
Senior Lending Specialist Residential 
& Commercial Lending
O: 231.775.2081 | C: 989.400.7937
lgarbooshian@wexccu.com
NMLS #965723

Customized Mortgage Programs

Getting Started

When you are ready to start considering your options, your Mortgage Specialist will be there to support you every step of the way. From the start, you will interact with the credit union staff you have come to know and trust; never having to deal with call center representatives. All of our mortgages are locally serviced in Cadillac and Lake City, never outsourced.

Because we are a not-for-profit financial institution, our WCCU Mortgage Specialists serve our members as educators, not salespeople. We put our member’s home buying needs first.

Pre-Approval

Pre-approval is a good place to start. Our pre-approval process will help to determine a reliable budget estimate and will generate a document that will be specific and accurate, providing all of the information your relator will need to assist you in the buying process. And don’t worry; if at first you do not qualify, we’ll help you build a roadmap to home-ownership through education, problem solving, and support.

Conventional Mortgage

As exciting as home buying can be, we also understand that it can be a bit overwhelming at times. In order to make the process as simple and stress-free as possible, we employ a team approach to ensure our members have a terrific home buying experience. Our Mortgage Specialists take the time to communicate proactively with realtors and title companies, to keep the homebuyer informed throughout the process; no more guessing about the status of the mortgage process.

Program Benefits:

  • Very competitive closing costs!
  • Down payments as low as 3%
  • Long term fixed rates available to protect you from rising rates
  • ARMs based on an outside index, so all mortgage rates are determined by an independent, market-based index
  • No Balloons
  • No pre-payment penalties
  • Local appraisers: they know us and are familiar with our area
  • Make payments/automatic transfers right from your WCCU account
  • Mortgage accessible through online banking; see balance, track payments
  • Lack the funds for a down payment? Gift funds are acceptable!
  • Mortgages available for non-conforming properties and non-conforming borrowers
USDA Rural Development Program

The United States Department of Agriculture (USDA) Rural Development Program is committed to helping improve the economy and quality of life in rural America. They offer loans, grants and loan guarantees to support economic development and essential services such as housing, health care, first responder services and equipment, and water, electric and communications infrastructure in rural communities.

Working with the USDA, WCCU can assist you with your Rural Development loan.

  • Local loan servicing – no outsourcing
  • First-time home buyers welcome
  • Low Income loans with generous income limits!
  • Zero-down and low money down mortgage loans for those who qualify
  • Available for primary residences only
  • Fixed interest rates
  • NO balloons
Construction Loan

So you have decided to build your own home. Congratulations! Our Mortgage Specialists will work with you to make the financing of your project simple and convenient. Tell us about your site selection, contractors, timetable, and construction budget and we will work with you to structure a loan to meet your unique project needs.

  • Local loan servicing – no outsourcing
  • NO balloons
  • No pre-payment penalties
  • Very competitive closing costs!

Property and Loan Types

WCCU has diverse loan option to suit your home buying needs. Whether you are choosing your first home or you have your eye on a dream vacation home, tell our Mortgage Specialist all about your vision and we will work with you to formulate just the right solution customized to your needs.

Property Types
  • Primary Residence
  • Second Home (vacation properties)
  • Non-Owner Occupied (rental properties)
Loan Types
  • Existing Homes
  • New Construction
  • Mortgage Refinancing to reduce rate or take cash out of your home
  • Manufactured Homes
    • Double wide manufactured homes built on steel chassis or after July 1, 1976
  • Modular Homes
    • Never will have had a title
    • Has wood framing
    • Without a HUD data plate affixed to the home

Mortgage Refinancing

There are many great reasons to considering mortgage refinancing. Tell our Mortgage Specialists what you hope to accomplish, and we will help guide you to a decision that best meets your financial goals.

Benefits of Refinancing
  • Potentially Lower Your Monthly Payments — Your current financial profile will determine the percentage rate, loan term, and monthly payment for which you qualify. Depending of the term of your current loan, available loan rates, and improvements to your credit score, it may be possible to lower your monthly payment through refinancing.
  • Adjustable Rate Mortgage (ARM) — Review your current rate. Sometimes an Adjustable Rate Mortgage is your best bet. Or, if the rate of your current ARM is on the rise, talk to our Mortgage Specialists about the options for converting to a fixed-rate loan.
  • Pay Off Your Mortgage Sooner – Refinancing to a 15-year mortgage, as opposed to a 30-year mortgage, will allow you to pay down your balance faster. As an additional benefit, the interest rate offered on a 15-year mortgage is often lower than the traditional 30-year loan.
  • Private Mortgage Insurance (PMI) — Private mortgage Insurance is required when your home’s equity is below 20%. If your home’s equity has exceeded 20%, you may be able to eliminate PMI.

 

Secured Home Equity Loans

If you have built equity in your home, you may want to consider borrowing against your equity to help with expenses such as home improvements, debt consolidation, college tuition, medical bills, or even a dream vacation. Funds from your home equity loan can be used for any purpose you desire, with the added benefits of tax-deductible interest and often lower interest rates than other financing options.

The WCCU Difference

Whether you are seeking funds from the equity of your home or are thinking about starting a building project from scratch, we have a mortgage loan option to suit your needs. We understand your goals and desires are unique, so why expect a cookie-cutter mortgage program to meet all of your needs? Work with your trusted WCCU staff and we will find the right plan for make your home ownership dreams a reality.

Fixed & Adjustable Rate Mortgages
  • Long term fixed rates available to protect you from rising rates
  • Adjustable Rate Mortgages (ARMs) based on an outside index, so all mortgage rates are determined by an independent, market-based index
  • No Balloons
WCCU Mortgage Program Benefits
  • Very competitive closing costs!
  • Down payments as low as 3%
  • Long term fixed rates available to protect you from rising rates
  • ARMs based on an outside index, so all mortgage rates are determined by an independent, market-based index
  • No Balloons
  • No pre-payment penalties
  • Local appraisers: they know us and are familiar with our area
  • Make payments/automatic transfers right from your WCCU account
  • Mortgage accessible through online banking; see balance, track payments
  • Lack the funds for a down payment? Gift funds are acceptable!
  • Mortgages available for non-conforming properties and non-conforming borrowers
 

Get Started & Join Today

What do I need to Bring?

To Open you Wexford Community Credit Union Account you will need to bring the following:

  • Your Michigan Driver’s License or State of Michigan ID card (or any other government-issued photo-ID such as U.S. passport).
  • A second form of ID which bears your name, for example, Social Security Card, Insurance Card, School ID, Voters Registration, Work ID, etc. (Reminder: Please remember to bring children’s social security card and birth certificate with you when opening children’s accounts.)
  • Proof of physical address.
  • If provided forms of ID do not list physical address, or if it is a brand new address, we will need to see car registration, any official mail, something that is printed with the physical address. (A Secretary of State update sticker on your license is perfectly acceptable.)
  • If you work, worship or go to school in one of our eligible counties, we must have a letter from that organization, a paystub, or something to establish proof of the relationship.
  • A $5.00 minimum deposit establishes your Regular Share (Savings) Account. This Regular Share (Savings) Account is required for access to all other services provided by the Credit Union. The $5.00 minimum deposit must remain in the account as long as you are a member of, and wish to use services provided by, Wexford Community Credit Union.