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Purchasing a Home

Purchasing a home can be one of the biggest milestones in your life. We’re here to make the process as easy as possible.

We offer several mortgage options that include flexible terms whether you’re buying a home, refinancing, or thinking about a home equity loan. We will work as your financial partner to build a financing option that works into your life and budget.

Our lenders can be there with you every step of the way, from the moment you start thinking about buying a home to the first time you turn your key in the front door.

  • Your credit report will be reviewed with you and we will go over any necessary steps required to remedy negative credit items.
  • Discuss loan terms, rates, and tax credits that you may quality for.
  • Provide Great Lakes Federal with Purchase Agreement.
  • Provide Great Lakes Federal with homeowners insurance quote.
  • Sign a loan application and necessary documents.
  • Property Appraisal and Title Insurance is ordered.
  • Once appraisal and insurance are received, they are reviewed to determine accuracy and remedy any errors.
  • Loan proceeds to underwriting and approval process.
  • Provide proof of homeowner’s insurance and flood insurance if required.
  • Meet with loan officer to discuss final loan amount and terms.
  • Schedule closing at Title Company.
  • Close on your new home with Great Lakes Federal Credit Union.

Click below for our guide on what items are needed during the application process.

To inquire further about financing your home with us, give us a call at (989) 893-2831 or email us at Our mortgage lenders can answer any questions with no obligations or help you get started on your new mortgage.

Flood insurance is a legal requirement and not an internal policy. Flood plain maps are developed by the government that determines if a specific property is in a flood plain. The insurance protects the lender in the event of a natural disaster. The homeowners who choose to live on or near water are assessed the added risk rather than all homeowners. A flood certification will be obtained on all mortgages through an independent agency to determine if flood insurance is required. This would not replace homeowners insurance.

Down payments and closing costs are minimal for qualified borrowers.

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