Choose A Qualified Lender

Buying a new home is an exciting time in everyone’s life. Choosing the right mortgage lender to finance your home is just as important as your home selection. You should not only look for a lender offering competitive rates, but one you can rely on to handle your financial needs for years to come.  Below are some suggestions on lenders who excel in what they do!

MSU Federal Credit Union

Michelle Baldino

Senior Mortgage Officer

517.333.2424 ext. 2238

Suzanne Carr

Senior Mortgage Officer

Phone: 517.333.2424 ext. 6863

Dart Bank

Joe Joseph

Sr. VP Mortgage Banker

Cell: 517.862.2300

Office: 517.853.5110

Joe Sambaer


Phone: 517.853.5131

Sam Fata

Associate Mortgage Banker

Phone: 517.853.5157

CASE Credit Union

Dan Lynch



This guide has been prepared to assist you in the mortgage loan process. Information, terms and worksheets are included to take you through the steps to purchasing your new home. I have also included answers to those questions most often asked of loan officers. It is my pleasure to make this information available to you to make your shopping for financing easier.

Mortgage Loan Options

The right kind of loan at a competitive rate is obviously important. However, depending upon your needs, there are many types of mortgage loans to consider.

FHA – FHA financing means the Federal Housing Administration (FHA) has insured the repayment of the loan to the lender. Because there is less risk involved for the lender, a smaller down payment is often possible. Both Fixed Rate and Adjustable Rate Mortgage (ARM) loans are available.

VA – VA financing refers to home loans guaranteed by the Department of Veterans Affairs. On a primary residence, qualified veterans may obtain mortgages from an approved lender without a down payment. However, the VA charges borrowers a funding fee. Fixed Rate loans are available.

Conventional – Conventional financing refers to home loans that have not been insured or guaranteed by the FHA or VA. These loans typically require private mortgage insurance (PMI) if the down payment is less than 20%. Fixed Rate, Balloon Rate, and ARM loans are available.

Fixed Rate Loan – Your interest rate and monthly payment will remain the same for the life of the loan. You will have a steady predictable decrease in the loan balance throughout the term of your loan.

Balloon Loans – Your loan would have a fixed interest rate for an initial period. At the end of the initial period, you have the option to pay the outstanding loan balance in full, refinance, or convert the loan to a Fixed Rate Loan for the remaining term. For those who convert, certain restrictions apply.

Adjustable Rate Mortgage (ARM) – An ARM allows the interest rate to change at specific adjustment intervals over the term of the loan. Interest rate decreases and increases are based on a predetermined index and may be limited by other provisions. Payment amounts may periodically change.