Mortgages & Home Loans in Birmingham

Mortgages & Home Loans in Birmingham, MI

Your family’s home is an asset that needs to be carefully protected in order to maintain its value. It can play a huge role in your family’s wealth, regardless of what your long-term plans are for selling it or adding onto it.

Refinancing your mortgage is a little-known option for reducing your monthly homeownership costs. A credit union can offer low-interest rates for a mortgage refinance and home loans thanks to its non-profit structure that puts customer needs first.

What is Mortgage Refinance?

Mortgage refinance allows a lender to pay off your existing mortgage loan or Federal Housing Administration loan (FHA loan), then charge the home buyer monthly installments to pay off the new loan. The new mortgage lender charges a lower interest rate and can extend the term of your mortgage to make your monthly mortgage payments lower.

Mortgage refinance is a powerful tool, especially for families whose credit scores have improved since they first got their mortgage. By taking advantage of a new lower interest rate, you could be saving your family hundreds of dollars per year.

Home Equity Line of Credit

A home equity line of credit is a line of credit that is secured by your investment in your home. At T&I Credit Union, we can provide up to a $125,000 line of credit that can be accessed for up to 10 years after you open it.

Similarly, a home equity loan allows you to take out a one-time loan against the value of your home. Both of these loan types allow you to make the most of your assets and get the funds you need to complete home repairs and handle other life expenses.

Getting the Best Home Loans Possible

T&I Credit Union is dedicated to serving Birmingham, Michigan, and the rest of the Detroit Metro area. All you have to do to be eligible to become a member is live, work, or worship in one of seven counties in the Detroit area.

In addition to home loans, we offer checking and savings accounts, personal loans, and auto loans. Our loan officers can work with members with bad or no credit to find personalized solutions for your financial needs.

Contact us today at 1 (800) 338-3908. We’ll be happy to answer all your questions about loan options, loan applications, mortgage rates, and more!