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Buying your first home doesn't have to be confusing.
You've decided it's time. You're ready to buy your first home. That's exciting. But, it can also be a little overwhelming.
From "Impossible" to homeowners: How one couple changed their future in a year.
Alex and Shannon thought homeownership was years away. Maybe five years. Maybe more. They were in their early 20s, fresh out of college, newly married, living in an apartment downtown. Building savings, establishing their careers, enjoying the freedom of being young and starting out.
Tap your equity. Keep your mortgage. With a Home Equity Line of Credit.
If you've been eyeing that kitchen remodel, bathroom refresh, or backyard project for a while now, you're not alone. Americans spent over $500 billion on home renovation in 2025.* The question isn't whether to do it. It's how to pay for it.
What to look for in a mortgage (Hint: It's more than just the rate)
Buying a home is one of the biggest decisions you'll ever make. And a big part of that is your mortgage. Finding the right one can matter just as much.
How do you buy a home? Your step-by-step guide to homeownership.
So, you want to buy a home. That’s great news! As you prepare to take that first step, you may be wondering just how many steps there really are before you can open the door to your dream home. Well, wonder no more: LMCU’s mortgage experts are here to break down the homebuying process into easy, actionable steps — so you can feel overjoyed about buying a home, instead of overwhelmed.
The Truth Behind Buying a Home in 2025
Buying a home is one of life’s biggest, most exciting decisions. And because it requires a lot of careful consideration and planning, many would-be homeowners may hesitate to take the first step. But how many of these doubts about the housing market and mortgage process are based in reality — and how many are just myths?
Using a HELOC for Renovations: Our Top 5 Home Improvements
Got a big home remodel planned? Looking to add a new room for a new family member? Or maybe you just want to transform your familiar house into a happening happy place? Whatever your goals are, a home equity line of credit (HELOC) can help you get more done. By borrowing against the equity you’ve already built in your home, a HELOC gives you access to reliable funds at a low interest rate — much lower than a credit card! And with interest-only payment periods of up to 10 years, it’s easy to pay off your HELOC at your own pace.So what could you do with a HELOC? Here are some of the most common home improvements our members use their HELOC funds for. 1. Remodeling your kitchen or bathroom.From new granite countertops and stainless-steel appliances to rain showers and fresh tile, kitchen and bathroom renovations are by far the most popular. Not only can these remodels modernize your home and make it feel more, well, homey, but they also add incredible value to your home, should you ever choose to sell.2. Adding living space.Anticipating an addition to the family? Or maybe you just want to build a personal sanctuary? Whether it’s a finished basement, an attic loft, or a new bedroom, increasing the square footage of your home adds function, personality, and value. 3. Enhancing curb appeal.It’s not all about the interior: landscaping, new siding, fresh paint, or a new front door can turn heads all around the neighborhood — making your home a destination for dinner parties, lawn games, and barbeques.4. Improving energy efficiency. The best renovations pay for themselves. Upgrading to energy-efficient features like new windows, insulation, or solar panels can lower your utility bills and save you a ton of money in the long run.5. Building outdoor living spaces. A new deck, outdoor kitchen, or even a pool can add new dimensions to your home — and help you make the most of those warm weather months! Feeling inspired? Crunch the numbers and find out how much could you borrow with a HELOC using our handy calculator!
Stay Cool & Collected During Homebuying’s Hottest Season
by Kate McDougall At any time of year, buying a new home can be both exciting and stressful. But homebuying over the summer offers unique opportunities — with equally unique considerations for a buyer to keep in mind.
The Top 3 Ways to Use a HELOC in 2025
While many people immediately think of credit cards when it comes to borrowing money on an as-needed basis, a home equity line of credit (HELOC) is another, often-overlooked tool you can use to draw funds for countless purposes — at a lower interest rate than most credit cards.
What home makeovers are happening in 2022?
What home makeovers are happening in 2022? 2021 saw us getting out of the house more than the previous year, and 2022 hopes to be even more of a return to normal. While 2022 home makeover trends are similar to what we’ve seen in the past couple years, there are a few new focuses we expect to see this year.
Strategies to save for a down payment on your home.
Strategies to save for a down payment on your home. Considering homeownership? One of the biggest expenses to save for when becoming a homeowner is the down payment. Many buyers believe they need to put at least 20% down on a home when, in reality, that’s not always the case.
Don't let inflation deflate your dream renovation.
Inflation is causing high prices across the U.S. economy, and that may have you rethinking that renovation you had planned this spring. Before you put your plans on hold, here are some ways to offset inflation and make that renovation a reality.
Avoid the rent trap.
If you’re renewing your lease or looking for a new place to rent this year, you will likely see a spike in what you pay each month. 2021 was a record year for rent growth, with it rising 17.8% nationally.* That is a huge increase considering annual rent growth between 2017–2019 averaged 2.3%.* With this rise in rent, you need to be more careful than ever not to get stuck in the rent trap.
Buying or refinancing? Here are housing trends to watch in 2022.
Zillow forecasts existing-home sales to total 6.35 million in 2022, up over the estimated 6.12 million that closed out 2021.* If you’re looking to make a move this year or refinance to consolidate debt, renovate your home, lower your monthly payment, or reduce your term, here are a few things you’ll want to keep an eye on.
More ways to make the most out of HELOC in 2022.
A home equity line of credit, or HELOC, has some unique advantages over loans. With ten years of interest-only revolving credit followed by a 15-year repayment period, it can be a great solution for some situations you may not have considered.
See how Jim got the truck of his dreams
Jim is a truck guy. He’s always been a truck guy. When he leased a truck that turned out to be not exactly what he wanted, LMCU helped make the perfect truck happen for Jim and his family. He has been an LMCU member since 2016, and from his mortgage to his savings account and accounts for his kids, Jim expected that if anyone could get him the financing he needed at the best rate, LMCU would be in his corner. Hear more of Jim’s story below.
How a home equity helped Fred & Meg get the space they needed
They bought a great home 10 years and 2 kids ago that needed renovations. When it came time to start on the basement for more space, the project required more than the just the two of them and their time on weekends. Members for over 10 years, they walked into the branch one afternoon and walked out with their perfect solution…a home equity line of credit from LMCU. Four dinner parties, 27 play dates, and 8 visits from the in-laws later, Fred and Meg are loving their new space and already planning their next home project. Hear more of Fred and Meg’s story below.
What you should know about financing a fixer-upper.
What you should know about financing a fixer-upper. According to CoreLogic®, home prices nationwide saw a year-over-year increase of 17.2% in June 2021 and a month-over-month increase of 2.3%, when comparing May 2021 to June 2021. As home prices have risen and available home inventory remains low, many existing and potential new homeowners are prioritizing geographic location with a willingness to renovate to achieve their dream home. Some homeowners may be staying put and looking to renovate their existing home, while others are considering new home purchases that may require renovation.If this is you, consider these tips before you begin the process of renovating your current home or purchasing a new home that you plan to renovate:
Perks of Homeownership
Deciding between renting or becoming a homeowner? There are many things that you may want to consider if now is the time for you to finally…finally…own your own.
Now’s your chance to own your own backyard and say goodbye to renting
Now’s your chance to own your own backyard and say goodbye to renting. With interest rates still at historical lows, now might be the time to make owning your first home a reality. With a few simple steps, you could be well on your way to owning your own walls, backyard, home gym, and more. Lower interest rates mean you have more buying power when it comes to finding that just-right home and, if you’re pre-qualified for a mortgage, you can get there even sooner.
Paint Like a Pro
If you are looking to update your home and save a bit of money, painting might be the project for you. Painting is one of the most attainable DIY projects for a homeowner. Before you begin, it’s important to do a little research to make sure the investment is worth the effort.
What You Need to Know Before Applying for a Mortgage Loan
Spring is here and the housing market is booming! Purchasing a new home is on many people’s minds, maybe even yours. Before you jump feet-first into the home buying process, you may want to first learn about what is involved when applying and qualifying for a mortgage.
Strategies to save for your down payment on your home
Considering homeownership? One of the biggest expenses to save for when becoming a homeowner is saving up for the down payment. One of the many myths about the down payments is that buyers need to put at least 20% down on a home, when, in reality, that’s not always the case. In 2020, the median first-time homebuyer financed their home with less than 7% down.* And at LMCU, we’ve financed many homes for as little as 3% down. On a $250,000 home, 7% down is $17,500. It might seem like a lot, but if you start saving now, you can chip away at it little by little. Once you’ve determined your down payment goal, it’s time to start saving using these strategies:
What home makeovers are happening in 2021?
The last year has impacted everything from the way we work to the way we shop. Home trends saw a big impact as our homes became our office, gym and classroom. The movement has continued into 2021 with the following home makeovers trending.
Why Your Mortgage Loan Officer Matters
You’ll be spending a lot of time with your loan officer during the home financing process, so you want to be sure you work with someone who is responsive, helpful, and committed to getting you to the closing table. At LMCU, we have a 4.9-star rating from Zillow* for – you guessed it – responsiveness, helpfulness, and follow-through
Housing Trends To Watch in 2021
2020 has been a rough year, but not for the housing market. This past year ended strong and it’s only getting stronger. In Zillow’s 2021 forecast, this year is projected to have the strongest home sales growth since 1983 with 21.9%* annual growth compared to 2020 — that’s a total of 6.9 million homes sold. So if you’re thinking about buying or selling this year, keep these five trends in mind.
It’s the most wonderful time of year to buy a house.
It’s the most wonderful time of year to buy a house. (And we don’t mean the gingerbread kind.) With the holiday season in full swing, there are many items on your to do list and it may seem counterintuitive to add a big ticket item to that list. But if you’re thinking you may want to make a move, now may be the time to add finding your dream home to your list. Check out these four reasons why December may be the time to purchase your next house.
Answers to your home equity questions
You've Got Questions. We've Got Answers. Imagine this: You finally make the exciting leap to start house hunting. You meet up with your realtor, see a few houses in the perfect location… and then you quickly realize there’s an inventory shortage; houses are priced far higher than you imagined and people are getting into bidding wars on houses in your dream neighborhood.
Four ways to take advantage of historically low mortgage rates
To put it nicely, 2020 hasn’t been the best. But one good thing to come out of this year is the historically low mortgage rates. Here are four ways you can use a home’s equity to work by refinancing.
Now that you can leave home …you won’t want to.
With a home equity line of credit, you can turn your house into the home you’ve spent the last few months (or years) imagining.
Six questions to ask yourself before building your forever home.
It probably feels like you’ve waited forever to build your forever home, but before you sign on the dotted property line, ask yourself these questions to make sure you’re really ready.
Get out of the house…one way or another
If you were looking to move before the economy hit pause, or you’re ready for a change of scenery, now is a good time to buy. Realtors are back to work. Interest rates are still low. And the housing market is expected to pick up soon.
Nine stay-at-home improvements
From a kitchen overhaul to an outdoor upgrade, here are a few ways to turn the stay-at-home order into a stay-at-home opportunity.
Right now we could all use a little support - home equity line of credit
At LMCU, not even social distancing will stop us from having your back. Our home equity line of credit, starts at just 3.00% APR.* Borrow and spend money just like a credit card. Use the extra cash for any immediate needs, or pay off high-interest debt to strengthen your financial stability for the days ahead.
What to expect from app to close
To help make the homebuying process feel less like a process, we’ve broken it down into five essential steps. Get pre-qualified to find out how much you can afford During our initial conversation, you’ll tell us about your homebuying needs, and we’ll explain your options. We’ll review your financial information, including total assets and credit rating, to determine what amount you can qualify for.
Five questions to ask yourself before buying a home
With spring right around the corner and mortgage rates near a record low, now is the perfect time to prepare for your next big move. But before you start picking out paint swatches, ask yourself these five questions to make sure you’re ready:
Choosing the right loan for financing your fixer upper
You’ve made the Pinterest board. You’ve analyzed Chip and Jo’s every move. You’ve browsed paint samples until you’re Jamaica Bay blue in the face. Now, all you need is the money. Here are three financing options to choose from based on your situation:
Enter to win a pair of tickets to a home show!
It’s home and garden show season throughout Michigan and Florida. If you’re looking for ideas to freshen up your home, stop by a home show near you. LMCU’s Home Equity and mortgage options can help you finance your home improvement goals.
Consolidate high-interest debt and potentially save thousands
With a home equity fixed-rate loan starting at 4.49% APR*, you can consolidate high-interest debt–like credit cards and student loans— into one low monthly payment. You could save hundreds every month, equating to thousands in savings over the lifetime of the loan.
Have yourself a merry little monthly payment
Home Equity Fixed Rate Loans starting at 4.49% APR.*
Special fall rate Home Equity loans
For a limited time, we’ve dropped our fixed home equity loan rate to 4.49% APR!* Use your home’s value to fund your home improvements to increase its value and enjoyment. Or even pay off student loan debt or high-interest credit cards.
Mortgage Do’s and Don’ts
According to nerdwallet.com, the biggest mistake buyers make is starting the homebuying process without a lender. With an LMCU loan officer, you can get pre-approved, so you’ll know exactly how much house you can afford. Sellers will know you’re serious. And other buyers can’t sneak in and steal the home of your dreams while you wait for the paperwork to process.
How to use gift money to buy your home
If someone is giving you a monetary gift to help you meet mortgage lending requirements, follow these three steps. Make sure the donor meets all of the requirements (besides being generous). The donor is the person giving you the money. That person must be a family member, domestic partner, or fiancé. The donor also needs to prove that they have the funds available. Documentation might include a copy of their cancelled check, or a signed letter from their bank confirming the funds are in their account. An underwriter may require more than one form of documentation.
The nuts and bolts of a construction-to-permanent loan
A cozy breakfast nook in the kitchen. A master bath with heated floors built in. A custom walk-in closet. Your one-of-a-kind dream home is full of possibilities. But before you build, here are five things you should know about construction-to-permanent loans.
Consolidate debt, pay for your student’s college or make home improvements with our Home Equity Loans
With a LMCU Home Equity loan,* you can trade high interest rates, such as on credit cards, for something that’s easier on your budget. We offer two types of loans depending on how you want to put the equity in your home to work.
Five tips for purchasing your first home.
WalletHub™ recently compared 300 cities of varying sizes across key indicators, like cost of living and property taxes, to determine the best place to buy your first home. Our own Grand Rapids, Michigan came in at number four, and…drumroll please…Tampa, Florida came in at number one! To help you take advantage of where you live, here are five things every first-time homebuyer should know.
Why your loan officer matters
WalletHub™ ranked Tampa, Florida as the nation’s number one market for first-time homebuyers, and Grand Rapids, Michigan came in at number four.*** While we can’t take all of the credit, our friendly experts helped
First comes love, then comes mortgage
Then comes love again. Because at LMCU, going from honeymoon to “Honey, I’m home!” is easier than you think. Here are four ways we can help you finance the home of your dreams:
The truth about down payments
Home ownership may be closer than you think. There’s a lot of myths about down payments. So, to set the record straight, here are four facts to consider when looking for a home.
5 tips to finance your custom-built home
We all want the perfect home that reflects our tastes, sensibilities, and unique styles. But sometimes, it doesn’t exist. At least not yet. If you’re thinking about building, follow these five tips to make the construction financing process…well, less of a process.
Spring cleaning is nice, but Spring renovating is “Niiiiiiice!”
You’ve had plenty of time to sit and stare at the interior of your house over the past few months. But you haven’t let the lack of sunshine stop you from daydreaming about a new backsplash, wood floor, or a bathroom vanity. And now that you’re done hibernating, LMCU’s MaxEquitySMcan help turn your winter cave into your spring castle.
Your home’s post-winter checklist
The sun is shining. The birds are singing. And winter is long gone…sort of. Winter weather can cause significant damage to your home that lingers long after the snow has melted. Here’s a helpful list of where to look and what to check for from the Department of Housing and Urban Development.
Consolidate Debt or Renovate Your Home
Which option is right for you—Line of Credit or Fixed Loan? Home Equity Line of Credit (HELOC) Just like a credit card, you can buy the things you need now and pay off your balance over time— borrowing against the value of your home. As you repay your balance, the funds become available again.
The Perfect Recipe for Your Kitchen Renovation
Tis’ the season for home shows featuring the latest in design trends for your home throughout Michigan and Florida. Couple that with the average homeowner seeing an increase of $12,400*** in 2018 in their home’s value, and it makes for a perfect recipe to get that dream kitchen you’ve been waiting for.
It’s the Most Wonderful Time of Year to Buy a House (and we don’t mean the ginger bread kind)
Sure, you’d be fine with new socks and a gift card. But here are five reasons why December is the ideal time to purchase your next home. 1. You hold the cards. Nobody wants to think about moving when there’s pie to eat and stockings to stuff. So, anyone who’s selling probably needs to do it fast. And their need for speed could work to your advantage when negotiating.
What’s Causing the Rise in Mortgage Rates?
For the past decade, borrowers have enjoyed historically low mortgage rates. So why are rates suddenly on the rise? A strong economy tends to force mortgage rates up because of inflationary fears. Rising inflation causes fixed-income investments, such as bonds, to lose value. And that causes their yields to rise. Mortgage rates usually follow long-term bond yields. When yields go up, home loan rates tend to go up, as well.
Can’t Find Your Dream Home?
Build it instead. We all want a home that reflects our tastes, sensibilities and unique styles. But sometimes, it doesn’t exist. At least, not yet. Here’s a quick guide to building your dream home.
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Explore our Podcast
Tune in to our Wallet Wisdom podcast where we help breakdown the in's & out's of financial aspects to bring answers to some of banking's more confusing and complex questions.
Wallet Wisdom Podcast | Ep 62: How to Launch Your Small Business: 5 Essential Steps for Success
Learn 5 essential steps for launching a small business successfully. From realistic projections to leveraging resources, ensure your entrepreneurial journey is well-planned.
Fraud Is Evolving: What You Need to Know to Stay Safe | Wallet Wisdom Podcast Episode 59
Learn 5 crucial strategies to protect yourself from financial fraud. Understand the evolving threats and how to stay safe in today’s digital world.
Wallet Wisdom Podcast: How Credit Unions Compare to Banks
Featuring Guest Patty Corkery, President & CEO of Michigan Credit Union League Most people think banks and credit unions are basically the same but they’re not. One is built to serve shareholders. The other is built to serve you.
How The Latest Fed Rates Impact Your Budget & Borrowing Power
In the latest episode of Wallet Wisdom, host Brett sits down with LMCU’s VP of Accounting, Tommy Minchew, and SVP of Finance, Mike Steele, to demystify one of the most talked-about financial topics with this latest decision to maintain interest rates by the Federal Reserve and how it impacts your wallet*. Whether you’re a saver, borrower, or somewhere in between, this episode is packed with practical advice to help you navigate today’s economic landscape.
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Estimate your CD earnings with LMCU's free calculator. See how term length and rate affect your savings growth over time.
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Calculate your monthly auto loan payment with LMCU. Compare terms and rates to find a plan that fits your budget.
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Estimate your monthly mortgage payment with LMCU. Factor in rate, term, and down payment to plan ahead.
Homeownership is possible.
We help thousands of people buy homes, every year. Want to be one of them? Explore all our pathways to homeownership, plus tools and support to help you take the first step.
