*Derogatory credit history must be explained with an extenuating circumstance. Must be a member to apply for loan. Loan is for new purchase only not refinancing.
Mortgage Application Check List
1) Copy of your signed purchase agreement and any signed addendum (for purchases)
2) A copy of the property listing card or sheet (for purchases)
3) Front and back copy of earnest money deposit check (for purchases)
4) Property taxes and homeowners’ insurance of subject property for last 12 months
5) Two years’ signed federal tax returns
6) Two years’ W-2s and/or 1099’s
7) Copy of the most recent pay stub(s) totaling 1 month
8) Rental income: copy of current lease(s)
9) Proof of alimony and/or child support, copy of divorce decree and property settlement (ratifies) describing terms; proof of payment may also be requested at application
10) Retirement, Social Security, and Disability income: copy of award letter and latest check showing amount of present payment
11) Last 2 months’ bank statements for savings and check accounts (FCU statements not needed)
12) Most recent 401(k), stocks, bonds, life insurance (cash value) statements
13) Appraisal fee
24 | 7 Online Application and Approvals
Online Application and Approval:
FCU has an online mortgage application. This means you can apply when you want to from the comfort of your home, and not just when the Credit Union is open, with instant underwriting feedback 24 hours a day 7 days a week. Apply for your Mortgage today! Start Here.
Benefits to an FCU Mortgage
Benefits to a Mortgage with FCU:
- Your mortgage payment won’t move. FCU Mortgage payments continue to be made right here. No guessing on where your mortgage is getting sold to next and where that payment needs to be sent.
- Know where your escrow account deposits are. They stay right here at FCU and will not be floating to some mysterious location.
- Save money on closing fees because of no middle man.
Mortgage Service Fax Number
Frankenmuth Credit Union’s