Jolt Credit Union logo Go to main content
Online Banking


Ready to Apply? Contact our Home Loan Team

Buying a house can feel overwhelming. But it doesn’t have to. That’s because we promise to guide you every step of the way and help you get the house you want while saving you more money.

Got Questions? We'll call you

We offer a variety of home loan products to choose from including balloon & fixed rate mortgages, construction, land loans and home equity line of credit and others.


Ready to Apply? Contact our Home Loan Team

Pre-qualify for your home loan. Shop knowing exactly what you can afford – and be ready to make an offer when you find the right home.

Apply for the loan. Fill out this fast form to have a mortgage representative contact you to start the application process or give us a call at (989) 799-8744 ext. 1400.

Refinance your current home loan. Save money by refinancing your current mortgage. Just email our mortgage department with information on your current loan and we’ll give you a custom rate quote.

Construction loan. Build and finance simply with a construction loan. You get the money to build your home with the option to modify it for permanent financing when your home is finished. Up to 95% project cost financing available, interest only payments available during construction.

Home equity line of credit. This is a revolving loan with a variable rate. Like a traditional home equity loan, a line of credit taps into the equity in your home, but can be used on an ongoing basis. If you’re wanting to make continuous upgrades to your home, especially over a long period of time, a Home Equity Line of Credit (HELOC) is a more efficient way of managing your home’s equity. You can also apply for the money available when you need it for financial emergencies.

100% Financing.** Your carpet, your wall colors, your backyard. A place that's 100% yours is now within reach with our 100% Home mortgage. Get 100% financing on the purchase, no down payment needed.

**Conventional100% financing assumes two simultaneously closed loans - a first lien mortgage loan in an amount that is 80% of the purchase price and a second lien mortgage loan in an amount that is 20% of the purchase price. Only purchases of a primary residence are eligible. Max LTV is 100%. Payment examples assume purchase price of $125,000 and do not include amounts for taxes and insurance premiums. The payment obligation will be greater. FIRST LIEN MORTGAGE - 10-year balloon only, amortized over a 30-year period. Borrowing $100,000 at 7.545 % Annual Percentage Rate ("APR"), will result in 119 payments of approximately $664.63 and one (1) balloon payment of approximately $85,792.38. Escrow required. SECOND LIEN MORTGAGE in the form of a home equity line of credit ("HELOC"). HELOC - 10-year draw and 15-year repayment period with a variable interest rate. During the draw period, your payment will be 1.3% of the balance or $15, whichever is greater. (Ex: Interest rate of 8.500% with $25,000 balance results in payment of $325)



Down Payment Assistance. Qualified first-time homebuyers can be approved to receive $10,000 towards their down payment.

As little as 1% down. Borrowers may be able to purchase as a first-time home buyer with as little as 1% down.

Previous homeowners. Buyers who have owned a home previously may qualify for MSHDA program in targeted property areas.

Let's Get Started!


Mortgage Rates
Effective Date: Sunday, June 16th, 2024
DescriptionLoan Term \ DetailsAPR*Interest Rate
MSHDA 5% Down Payment
Payments amortized 360 months
6.162% 6.00%
MSHDA with DPA** 10% Down Payment
Payments amortized 360 months
6.804% 6.625%
10 Year Balloon 20% Down Payment
Payments amortized 360 months
6.851% 6.490%
10 Year Balloon 5% Down Payment
Payments amortized 360 months
7.045% 6.490%
15-Year Fixed 5% Down Payment
Payments amortized 180 months
7.094% 6.500%
20-Year Fixed 5% Down Payment
Payments amortized 240 months
6.975% 6.500%
30-Year Fixed 5% Down Payment
Payments amortized 360 months
7.246% 6.875%
30-Year Fixed, Home Possible 3% Down Payment
Payments amortized 360 months
6.742% 6.500%
Land Loan 20% Down Payment, Payments amortized up to 240 months 9.478% 8.000%
*APR=Annual Percentage Rate. Rates listed represent our best rates. Rates, terms and conditions vary based on creditworthiness, qualifications and collateral conditions. All loans are subject to approval and rates are subject to change without notice. Other conditions may apply.

**Down Payment Assistance

The Annual Percentage Rates for the 15-Year, 20-Year, and 30-Year Fixed loans are quoted without PMI premiums or any discount points.

To view Payment Examples please select the hyperlinks on each loan rate.


A. As a first-time buyer, the first step in purchasing a home is to determine what exactly you can afford. By using one of the several calculators on our website, you will be able to figure out affordability in relation to finances, credit score and other information.

A free pre-qualification document is also available for home loans too.

A. On a 1-2 unit primary residence or second home you may borrow up to 80% of the property value in a first mortgage. Jolt also offers many second mortgage products for debt consolidation.

A. Private Mortgage Insurance is required with an LTV over 80%.

A. 1st mortgages over 80% LTV’s are required to have escrow for taxes and insurance.

A. It is the total loan amount divided by the value of your property. The value of the property is the lesser of either the purchase price or appraised value.

A. We service the majority of our mortgages.

A. No, there is no fee to lock your interest rate.

A. After reviewing your application with a Mortgage Representative you are able to lock in your rate.

A. Closing costs can be rolled into your loan amount not to exceed maximum program guidelines for loan to value.

A. Yes.

Purchases require:

  • Past 2 years tax returns with W2’s
  • Most recent paystub for all borrowers
  • 2 months bank statements where the assets are coming from.  If with us, we do print them ourselves
  • Will need an email address for e-sign

Refinances require:

All the same items as a purchase plus the following:

  • Mortgage statement
  • Copy of home insurance
  • Copies of bills wanting to pay off, if doing a debt consolidation.

Upon starting the process with a purchase agreement or doing a refinance we will require a $500 appraisal fee, which we can transfer from your account with us.

A. At this time there is no application fee.

A. You can apply or get pre-qualified by phone by calling 989-799-8744 or 800-798-2328 ext. 1400, Monday-Thursday 9:00 am - 5:00 pm or Friday 9:00 am - 6:00 pm. A Mortgage Specialist will guide you through the entire application process. You can also visit any location to apply.

A. Your closing costs could potentially range between $1000 and $4000 depending on the purchase price or refinance amount. which can vary.  Obtain an official Loan Estimate before choosing a loan product.

A. Our up-to-date Mortgage rates are available on our web site, at any Jolt Credit Union branch, or by calling the Information Center at 989-799-8744 or 800-798-2328.

A. By completing an actual loan application, a Jolt mortgage expert can help you determine a price range, which is usually about 30 percent of gross monthly income (including taxes and insurance) although there are many exceptions to this rule.

A. Although it is not necessary to be pre-qualified it is highly recommended before making an offer. It can be frustrating for both buyers and sellers to agree upon an offer, only to find out the buyer is unable to qualify for it.

If everything seems to be in good standing, buyers will be able to obtain both a pre-qualification and a letter.

A. Yes. With Jolt you can finance a second home or an investment property up to a 4 family unit.


Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s Web site.

Mortgage Team

We have the local knowledge of Michigan towns and cities and the financial knowhow for quick approvals. We’ll be right by your side through each step of the process, from start to finish. When you are ready, we’re ready with all you need to make it happen.

NMLS ID #715640

Jesse Maldonado, Jr. VP Mortgage Lending
Jesse Maldonado, Jr.
VP Mortgage Lending

989.799.8744 ext. 1401
State Street, Saginaw
NMLS# 433139
Becky Swanson - Mortgage Supervisor
Rebecca Swanson
Mortgage Supervisor

989.799.8744 ext. 1402
State Street, Saginaw
NMLS# 759033
Laurin Light - Sr. Mortgage Loan Officer
Laurin Light
Sr. Mortgage Loan Officer

989.799.8744 ext. 1408
State Street, Saginaw
NMLS #1817692
Ashley Kubacki - Mortgage Loan Officer
Ashley Kubacki
Mortgage Loan Officer

989.799.8744 ext. 1407
State Street, Saginaw
NMLS #2327065
Beth Shafley - Mortgage Loan Processor
Beth Shafley
Mortgage Loan Processor

989.799.8744 ext. 1410
State Street, Saginaw
NMLS #1261621
Sara Cook - Mortgage Loan Closer
Sara Cook
Mortgage Loan

989.799.8744 ext. 1404
State Street, Saginaw
NMLS #2428507

Deb Escamilla Mortgage Team Member
Deb Baum
Mortgage Underwriter

989.799.8744 ext. 1405
State Street, Saginaw
NMLS# 819547

Kelly Prast Mortgage Team Member
Kelly Prast
Mortgage Servicer/Escrow Specialist

989.799.8744 ext. 1409
State Street, Saginaw
NMLS# 763553



Go to main navigation