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Union Bank


Make a home. Build a family. Grow your future.

Our mortgage professionals will help you select the best Make Build Grow Loan Product—whether purchasing your first home, refinancing a loan or building your dream home.

Conventional Mortgage

Competitive rates and terms for borrowers with strong credit and a down payment.
  • Purchase, construction or refinance of an existing mortgage
  • Various terms available
  • No pre-payment penalties
  • Bi-weekly payments available on some programs
  • Finance up to 95% on purchase

Adjustable Rate Mortgage

  • Various terms available: 3/1, 5/1 or 7/1
  • Fixed rate and payment for the initial rate period (three, five or seven years)
  • After the initial rate period the rate will adjust up or down on a yearly basis to the index
  • Finance up to 80% of current appraised value


  • Borrower pays interest only on outstanding balance during construction
  • Construction phase up to nine months
  • Unlimited draws with no fees per draw
  • At project completion, loan rolls into a conventional mortgage with no additional closing fees with the exception of final appraisal (average appraisal cost is $400)

First-time Home Buyers

  • Must be principle residence
  • No pre-payment penalties
  • Various terms and payment plans available

Vacant Land

  • Various terms available
  • Finance up to 70% of current appraised value or purchase price (whichever is less)
  • No pre-payment penalties
  • Bi-weekly payment programs available

Federal Housing Administration (FHA)

Federal Housing Administration insured to assume less risk and provide lower rates with simplified terms.
  • More eligible property types
  • No property location restriction
  • No household income limit
  • Low down payment
  • Gift funds allowed for entire down payment, closing costs and prepaid items
  • Low rates and monthly payments
  • Flexible credit standards
  • Special qualifying features

Veterans Administration (VA)

U.S. Department of Veterans Affairs mortgage loans are available to veterans and military families only as a special benefit to those who have served our country.
  • Fixed- or variable-rate products
  • Various terms available
  • No money down and up to 100% financing per VA county limit
  • Flexible credit standards
  • Not limited to first-time homeowners
  • Refinance a current VA loan

USDA Guaranteed Rural Housing Program (RD)

Underwritten by Union Bank and guaranteed by the U.S. Department of Agriculture to support home ownership in rural areas. Most homes in Union Bank's service area are eligible for this program.
  • Various terms available
  • Low rates and monthly payments
  • No down payment required
  • Flexible credit standards
  • Closing costs and other expenses may be financed in some cases
  • Not limited to first-time homeowners
  • Property must be located in an eligible area
  • Income limits apply


Need Help with Your Current Mortgage?

To ensure homeowners and renters have the most up-to-date and accurate housing assistance information during the COVID-19 national emergency, the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and the Department of Housing and Urban Development (HUD) have launched the new mortgage and housing assistance website. If you're concerned about how to pay your mortgage or rent due to the COVID-19 national emergency, go to the CFPB website for information on what to do now, and what your options are for mortgage and rent payment relief.
Do you need to refinance or modify your mortgage to avoid foreclosure? If so, you may be eligible for programs designed to make your mortgage more affordable, such as the Home Affordable Refinance Program (HARP) if you loan is owned by Freddie Mac, or the Step Forward Michigan Program.

NMLS Registry Information for Union Bank Mortgage Loan Originators
All loans subject to credit approval and all other loan terms and requirements apply including appraisal. Typical closing costs on a new mortgage or refinance average $2,000 and include an application fee, appraisal, title insurance, recording fees and credit report.*

* Home owners insurance required.
DISCLAIMER: All programs are available only to qualified borrowers. Underwriting terms and conditions apply. Programs are subject to change without notice. Due to various federal, state and local requirements, certain products may not be available in all areas. Conventional loans with a down payment less than 20% require mortgage insurance, which could increase the monthly payment and Annual Percentage Rate (APR).
Union Bank NMLS# 488568
Effective Date February 26, 2020

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