FAQs

Yes. A Michigan First personal loan or home equity line of credit may allow you to combine multiple eligible debts into one monthly payment. The best option depends on the types of debt you have, the amount you need to borrow, available home equity, and the rates and terms for which you qualify. Compare the total borrowing cost carefully, because consolidating debt does not eliminate it and using home equity can place your home at risk.

Yes. You must become a Michigan First member before applying for a consumer loan. Membership is open to anyone who lives, works, or worships in Michigan and begins by opening a Michigan First Savings Account with a minimum $10 deposit.

A Michigan First personal loan can be used for many planned or unexpected expenses, including weddings, medical procedures, auto repairs, travel, home updates, and debt consolidation. Michigan First offers fixed-rate Life Event Loans, savings secured loans, and personal lines of credit - so the right option will likely depend on how much you need and how you plan to use it.

Michigan First does not use one minimum credit score for every loan. Approval and available rates depend on factors such as the type of loan, your credit history, income, existing debts, and ability to repay. Applying is the best way to learn which options and rates may be available to you.