Homeownership
Buying, owning and borrowing against a home — guides, podcasts and member stories.
New to homeownership?
Whether you are saving for a down payment, comparing your first mortgage or putting your equity to work, start with the guides below — then use the filters to narrow things down.
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Home Refinance Calculator
Estimate your refinance savings with LMCU's calculator. Compare rates and terms to see if refinancing your home loan makes sense.
Home Rent vs Buy Calculator
Compare the costs of renting versus buying a home with LMCU's calculator to make an informed decision.
Mortgage Calculator
Estimate your monthly mortgage payment with LMCU. Factor in rate, term, and down payment to plan ahead.
HELOC Calculator
Estimate payments on a Home Equity Line of Credit with LMCU. See how much you could borrow against your home.
Income Required for a Mortgage Calculator
Estimate the income needed to qualify for a mortgage with LMCU's easy-to-use calculator.
Mortgage Payoff Calculator
Find out how extra payments can help you pay off your mortgage faster and save on interest with LMCU.
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.
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!
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.
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.
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.
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.
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.
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.
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
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.
