Zeal Credit Union is closed Monday, May 30 in observance of Memorial Day.

Mortgage Loans

Zeal Credit Union can help you with your mortgage needs. Whether you want to buy your first home, move to a larger home, or refinance your current mortgage to take advantage of our low rates, we’ve got you covered. We offer a wide range of mortgage plans, convenient pre-approval, personalized service, and much more. You can also get qualified for a mortgage amount before you find your dream home. This pre-approved mortgage means you can shop and deal for your new property with confidence and financial leverage.

Frequently Asked Questions

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First Time Homeowner

Buying a home is a daunting task, but the experienced mortgage representatives at Zeal Credit Union are here to help you through the process. Signing up for a mortgage may seem intimidating. A mortgage is often the largest and longest financial obligation you’ll ever have. However, if you know what to look for and what to avoid, you can bring a new level of confidence to a process that seems overwhelming.

    1. Know what you can afford – use a  mortgage calculator
    2. Check your credit score – Zeal Credit Union offers a FREE Credit Score Review, visit a branch today!
    3. Talk with a Mortgage Specialist
    4. Find a home you can afford and make an offer: Once you know how much you can afford, it’s time to shop for your home. When you find the home you want, work with your realtor to make a reasonable offer
    5. Apply for your mortgage – close on your loan

Need help, there’s no better place to get help than Zeal Credit Union.

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New Mortgage

Mortgages can be complex, even if you have gotten one before. Zeal is here to help with an easy to understand breakdown of the mortgage process. Follow these simple steps to simplify your mortgage process.

  1. Pre-qualify – Meet with a lender and get a pre-qualification letter
  2. Apply – Submit your full application and any required information
  3. Provide Documentation – Provide proof of employment, income, assets and debt info
  4. Conditional Approval – Ensure approval amount, plus your savings is enough for purchase
  5. Check Appraisal – Make sure the property’s appraisal is greater than its asking price
  6. Closing – Set a realistic date, transfer your down payment and sign

If you have any questions about how the application process works just give us a call at 800-321-8570 ext. 7299, or email us at homeloans@zealcu.org.

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Mortgage Refinance

When you’re a homeowner your mortgage payment is your major monthly expense. Lowering your payment, even a little, can really add up. There are five main reasons to refinance, see if one makes sense for you.

  1. To Lower Your Payment – This is great unless refinancing for the same term, as you could pay more over time in interest
  2. To Lower Your Rate – If rates have dropped, this can be a great idea, but there are several other considerations like the value of your home
  3. To Change to a Fixed Interest Rate – If you currently have an adjustable rate mortgage and rates are trending up, this can be a great idea
  4. Reduce Your Loans Term – This will help you pay your mortgage off quicker, but it will often increase your monthly payment as well
  5. Refinance and Cash Out – If you need cash for an important purchase and have equity in your home, this would allow you to pull some of that money out of your home

Not sure what option is right for you? Zeal Credit Union has the answers.

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Shorter Term Mortgage

When most people think mortgages, they think 30-year, fixed rate mortgages. But for those interested in paying off their mortgage sooner, 10 and 15-year options might be a better way to go. Short-term mortgages offer many benefits, including:

  1. Lower rates – 10 and 15 year mortgages can offer rates from .25% to .75% lower than their 30-year counterparts
  2. Interest savings – Lower rates plus shorter terms could save you tens of thousands of dollars in interest over the life of your loan

Although the benefits are powerful, there are things to consider when choosing 10 and 15-year mortgages.

  1. Higher monthly payments – Even reduced interest rates can’t offset the shorter terms. Those shorter terms create increased monthly payments
  2. Refinance costs – Is a shorter-term mortgage right for you? It’s important to factor in costs associated with refinancing when making that decision

What’s the best choice for you? We can help.

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Home Equity Mortgage

Your home’s equity is the difference between your home’s value and what you still owe on your mortgages. The money that lives in between these two can be used to accomplish many things, including:

1. Improving your home – adding a new addition or improving energy efficiency can save you money but they can also add value to your home

2. Lower interest rates – Using the equity in your home for purchases can be more attractive than traditional credit, such as credit cards

3. Debt consolidation – simplify your payments and lower your overall interest rates

4. Manage high education costs – with the cost of education rising so fast, a home equity loan can provide a great way to manage tuition fees

To learn more, speak to a home loans expert today.

*Zeal Credit Union is an equal opportunity lender. APR = Annual Percentage Rate. Advertised rates effective as of 5/19/2022. Actual rates may vary and are subject to member’s credit worthiness, property value, loan product and term of loan. Advertised rates are for informational purposes. Rates are subject to change at any time and without notice. For the most up to date rate information, please visit https://zealcu.mymortgage-online.com/MortgageRates.html or contact a Zeal mortgage representative at 734-742-5061.

We’re here to help you!

Wesley Smith

NMLS ID: 1167968

Mortgage Loan Originator

800-321-8570 ext. 7265

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Mortgage Lending

Monday & Friday: 8:45am – 6:00pm

Tuesday, Wednesday, Thursday: 8:15am – 5:00pm

800-321-8570 ext.7299


Contact a Team Member

  • Please use this form to request to be contacted by a Zeal team member to make an appointment or to further discuss your loan options.
  • For a quicker response during business hours, please feel free to chat with us by clicking the orange chat icon in the bottom right corner of your screen. You can also apply for a loan online TODAY by clicking apply on the button above.