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Mortgage loans can be used to satisfy many purposes. Members can buy homes with down payments as low as 10%, close within 3-to-4 weeks and pay the lowest closing costs in the area. Friendly mortgage loan officers work diligently to process applications quickly and accurately, working closely with the member every step of the way.
Many members have had credit problems due to circumstances beyond their control. Before going to a mortgage broker, where you may pay high rates and charges, call a mortgage loan officer at your credit union.
 for a Mortgage Insurance Quote!
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Quick Calculation
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Information Form
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Disclosure
Financial Hardship Solutions
Member Solutions Team
Find out how CP Federal Credit Union may be able to assist you in hard times.
Making Home Affordable Plan
There are two options involved in President Obama's new "Making Home Affordable" plan that allows for mortgage modifications and refinancing. CP Federal Credit Union is not in the practice of selling our mortgages, we currently hold all of our mortgages in house. At this time we are waiting for more instructions from the government on our ability to practice in this program.
Refinance - this plan is designed to help borrowers who would like to refinance their home from an adjustable rate to a fixed rate and are not able to at this time because of home values declining in many areas. This is a refinance only option, no cash out is allowed, closing costs can be included, maximum LTV is 105%. Borrowers must show 12 month history with no late payments on the mortgage.
Modifications - this plan is designed to help borrowers who are experiencing financial hardship. There are specific eligibility requirements, no fees can be charged to the borrowers for the modification, incentives are paid to the servicer, investor, and borrower to participate in the program.
For more information please visit the helpful links below.
- Fannie Mae
Home Affordable Refinance options and Home Affordable Modification program
- Making Home Affordable
Are You Eligible? Please use the self-assessment tools provided on this website to see if you are among the 7 to 9 million homeowners who may be able to benefit from Making Home Affordable.
- Loan Look Up
If your mortgage loan is owned by Fannie Mae or Freddie Mac, you may be eligible for a Home Affordable Refinance to take advantage of lower interest rates.
Helpful Links
Check out these helpful links for tips on budgeting, financial management, debt solutions and foreclosure prevention.
for more helpful links!
Jackson, Michigan Homes
You can now access useful information for Jackson county via the Jackson Area Association of Realtors web site. There is FREE access to search the Register of Deeds records from 1985 to present. You can search for that perfect home, along with other useful information
CLICK HERE to be taken to their site. From the site, click on Jackson Area Information, on the left side.
Home Equity
Use the equity in your home to purchase automobiles, recreational vehicles, boats, consolidate high-rate credit cards, pay for education, perform home-improvements and more!
Construction Loans
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