Lake Michigan Credit Union

Reviews about Lake Michigan Credit Union

• Jeff Harbor Springs

  May, 28 2018
  ★ ★ ★ ☆ ☆
  They had the best rate for this property (local) I was buying and everyone seemed nice. (but who is not when they want your business) The only time I did meet a person was when they were 2 minutes late to my closing, they had the check, in my world I would always make a point to be extra early but there was probably a good reason for it I just don't remember one. Personally I don't think they liked my sense of humor either when I asked them if they needed a blood sample along with endless information. Even if you have great credit and make good money the process of getting a loan is overburdening. My guess is mainly due to Dodd/Frank and not LMCU. The main reason for 3 stars though and partially my fault is I thought the loan would stay in-house for more of the norm for a Credit Union. Well, I just got notice already they sold to Fannie and I don't even think I have made my first payment. So that bummed me out enough to stop what I was doing in my life and write this review. You think you are going local only to find out your not and the loan now out floating wherever and the people you are supposedly doing business with have no control either. I had mortgage broker in Chicago lined up I could of got 25 points cheaper in California with lower closing cost but passed mainly due to that fact of being/thinking local.
  
  Regardless I am not dissatisfied with my experience but thought that a well laid out review was in order for buying property is a big deal these days and you want to know the facts.
  
  I have also worked with Greenstone Farm Credit when I lived up in Harbor Springs, they are local in TC as well and I would for sure check them out if you are shopping around. They were more expensive, in this case for this type of property, but the process was more enjoyable and in certain cases on what you are buying will be the best option. They KEPT my loan in-house which if I would have known that I probably would of reconsidered going back to them and paid a little more because you are truly staying in-house and they own the note and keep it. Or I would of gone to Chicago and paid 25 bps less. Live and learn! I hope this helps someone out there looking for information.

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