Homeownership, with a little extra.
Homebuyers in eligible Michigan and Florida neighborhoods can qualify for lower down payments with no PMI.1
What is LMCU’s HomePlus Mortgage?
Our HomePlus Mortgage program could save you money on your down payment and private mortgage insurance (PMI), but there are a few requirements to keep in mind.
0% down & no PMI
This is the big one: eligible buyers can skip the down payment and private mortgage insurance.
No application deposit
Save even more with no required upfront deposit when you apply.
Growing communities
We want to nurture communities. That’s why HomePlus is only available in select neighborhoods.
Am I eligible for a HomePlus Mortgage?
Our HomePlus Mortgage program could save you money on your down payment and private mortgage insurance (PMI), but there are a few requirements to keep in mind.
Neighborhood specific
Contact a loan officer to see if your MI or FL neighborhood qualifies for HomePlus.
Residence specific
Single-family residences, condominiums, 2-units/duplexes, and multi-wide manufactured homes can qualify for HomePlus.
Homebuyer education class required
At least one qualifying buyer must complete a homebuyer education class.
More HomePlus Mortgage FAQs
Other mortgages come with stairs to climb and hurdles to clear before you can open the door to your new dream home. HomePlus provides an escalator — if you meet the program requirements, you can enjoy a 0% down mortgage3 with no PMI,1 plus flexible credit score and income level eligibility. Altogether, HomePlus reduces your upfront and monthly costs, making homeownership more accessible.
All homebuyers, whether it’s your first home, your second, or beyond, can apply for HomePlus.
Since neighborhood eligibility is highly geographically specific and subject to change, please connect with an LMCU loan officer near you to get the most up-to-date information about which MI & FL neighborhoods qualify for HomePlus.2
Yes, really! HomePlus offers up to 100% down payment financing for qualified homebuyers.
Yes. Even though HomePlus Mortgages don’t require a down payment, you will still need funds for closing costs, as well as other prepaid taxes and insurance.
Save even more with LMCU’s Max Mortgage discount!
Buying a home? Start here.
Connect with one of our local mortgage experts. They’re ready to answer any homebuying questions you may have with a smile and an extra mile.
The home of all your homeownership needs.
Disclosures
Private Mortgage Insurance.
Please contact a mortgage loan officer to see if a property is eligible.
For well qualified borrowers. The interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible. Please consult your tax advisor.
To receive MaxMortgage discount, mortgage payment must be an automatic payment that comes from an LMCU checking account with an ACH deposit. Some programs may not be eligible, discuss with your mortgage loan officer for further details.
