Now that you have found the home for you and your family in East Lansing, visit MSU Federal Credit Union for a variety of mortgage options to fit your needs: Adjustable-Rate Mortgages, Conventional Fixed-Rate, and MSHDA.
Adjustable-Rate Mortgages (ARMs) Adjustable Rate Mortgages are fixed for the term selected. For example, the 3-1 ARM is fixed at a lower rate for 3 years and 1 indicates the rate will adjust annually (1). The rate can adjust 2 points per year with a maximum cap of 6 points total over the life of the loan. Apply online.
Conventional Fixed-Rate Mortgages Secure your rate at application without changes before closing. Select from 10-, 15-, 20- and 30-year terms with a fixed rate for the term of the loan. Apply online.
MSHDA Michigan Housing Development Authority (MSHDA) makes home ownership possible for first-time home buyers with limited income. Down payment assistance is available for individuals or families meeting certain income criteria based on total income and number of family members. Apply online.
Not an MSUFCU Member?Become a member for a lifetime! Open a Spartan Saver account with a minimum balance of $5, pay a one-time membership fee of $1, and begin taking advantage of all the products and services MSUFCU has to offer. Join MSUFCU online today!
Who Is Eligible to Become an MSUFCU Member?
Michigan State University Federal Credit Union provides financial services to the Michigan State University and Oakland University communities and their families.
Faculty, staff, and students of MSU or Oakland University and their immediate relatives.
MSU or OU Alumni Association members. You may join the Alumni Association and then join MSUFCU.
Those who regularly work on the MSU or OU campus who are under the control of the MSU Board of Trustees or the governing body of Oakland University.
Employees of select groups or associations.
Immediate family members of the above eligible fields (spouse, sister, brother, parent, or child).
Any individual living in the household of the above eligible fields making up an economic unit.
For more information about MSUFCU Mortgages or how to become an MSUFCU member, see the MSUFCU website.
