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Mortgage Loans

There’s no place like home…” and there’s no better place to finance your home than Alpena Alcona Area Credit Union. Why? Because we design our mortgage programs much like you design your home…it’s all about you!

Competitive rates, affordable terms, low closing costs and loan programs that fit your needs. And, service…it’s our mission to provide you the personal yet professional service you deserve. That’s why we handle all of our mortgage loans direct so that you get the best loan for you and you always know who you are talking to!

So settle in and let us make a house your home!

Fixed Rate Mortgage
Available in 10-year, 15-year, 20-year and 30-year terms; Alpena Alcona Area Credit Union’s fixed rate mortgage products may be the friendliest loan for your monthly budget. Low costs, low fixed rates and extended terms equal low monthly payments. So if you want an affordable payment, an interest rate that never changes or if you simply plan to stay in your home for awhile, this is the right loan for you!

Balloon Mortgage
Buying a home that you plan to sell or pay-off within the next few years? Our balloon mortgage program is right up your alley! With a balloon mortgage from Alpena Alcona Area Credit Union, your loan is written for a 5- or 7-year term but the monthly payment is based on a 30-year repayment term. That means your payment will not only be affordable for the short term but remain the same for the term of your loan. Then, at the end of the 5- or 7-year term the outstanding balance (the “balloon”) has to be repaid in full – meaning you can refinance if need be and your new loan, whether it is another balloon or one of our great fixed rate products, will simply be re-written at our current interest rate.

Construction Loan
Let Alpena Alcona Area Credit Union help you build that home you’ve been dreaming about! A construction loan from AAACU is quick and convenient – you apply and close only one time! You bring in the invoices for your construction projects. We deposit the funds into your credit union share account which means you’ll actually earn interest while your home is being built. And, you pay the bills. It’s simple, it’s easy and it’s designed with you in mind!

Vacant Land Loan
Found that perfect spot to build your dream home or maybe your ideal hunting grounds? Well, your credit union has the right loan for you…a vacant land loan! So gear up, with a 10 or 15 year vacant land fixed rate mortgage or 5- or 7-year vacant land balloon mortgage with Alpena Alcona Area Credit Union!

Federally insured by NCUA.