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Arbor Financial Credit Union mortgage review

Offers highly competitive rates on its home loans and mortgage refinances, but it’s only available in Michigan.

  • Choose this lender for competitive rates.
  • Choose another lender if you want a USDA loan.
  • A good option for mortgage refinancing.


Loan products offeredConventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Minimum credit scoreConventional: 620
FHA: 580
Minimum down payment (Conventional)3%
State availabilityOnly available in: MI

Arbor Financial Credit Union requirements

To learn if you’re eligible for an Arbor Financial Credit Union home loan, visit the company’s website. Basic eligibility for a mortgage or home equity loan with Arbor Financial includes:

  • Residency in Michigan
  • Two years’ history of employment
  • A FICO credit score of 620 or higher
  • No history of bankruptcy in the past two years


When applying for a mortgage with Arbor Financial Credit Union, be prepared to provide the following information and documents:

  • Photo identification
  • Contact and employment information
  • Most recent pay stubs, tax returns and W-2s
  • Most recent 1099s if self-employed
  • Best estimates of income, assets and liabilities
  • Recent bank statements

Costs and fees

Arbor Financial Credit Union charges an unwaivable $1200 underwriting and processing fee. Additionally, expect to budget about 1% to 4% of your loan’s total amount for closing costs, which typically include:

  • Your credit report.
  • Appraisal.
  • A home inspection.
  • Private mortgage insurance (PMI).
  • Homeowner’s insurance.
  • Title insurance.
  • Taxes.

Arbor Financial Credit Union doesn’t charge an application fee on its HELOCs, but you may be on the hook for other third-party fees.

How to apply for a mortgage with Arbor Financial Credit Union

To get started applying for a home loan with the company:

  1. Go to Arbor Financial Credit Union’s website, navigate to the Borrow tab and choose Mortgages.
  2. Scroll down the list of mortgages, choose one and select Apply Now. You’ll be redirected to another site where you can begin the application process.
  3. Enter your name, email address and a new password to activate your application account.
  4. Provide your personal information, current address, coborrower information if any, property information, Social Security number, your assets, income and real estate information.
  5. Answer the disclosure, demographic and additional questions.
  6. Review and submit the application and wait for your assigned loan officer to contact you about next steps.

After submitting the application, you can call your assigned loan officer if you have any questions or need help uploading documents.

What types of mortgages can I get through Arbor Financial Credit Union?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Other mortgage products Arbor Financial Credit Union offers

Arbor Financial Credit Union also offers these specialized types of mortgages:

  • 3% down mortgage. A good option for homebuyers with a limited down payment. Offers low closing costs and in-house servicing.
  • Physician mortgages. If you’re a doctor, dentist, pharmacist or veterinarian, this loan offers 100% financing on single-family homes and no PMI requirement.
  • Construction loans. A single loan that covers the construction phase of your home and the mortgage. Offers interest-only payments during construction and flexible term lengths.
  • Renovation loans. A single loan that covers renovations and the mortgage so you don’t have to pay repairs out of pocket. For use towards nonstructural improvements up to $50,000.
  • Bridge loans. Allows you to buy a new home without waiting to sell your existing home first. Offers 12 months of interest-only payments and is paid off when your current home is sold.
  • Jumbo loans. Arbor Financial Credit Union offers 80% loan-to-value (LTV) jumbo loans up to $1 million for eligible borrowers.
  • HELOCs. A revolving line of credit with limits ranging from $10,000 to $150,000 and no application fee. Tax breaks may be available depending on how the credit line is used.
  • Mortgage refinancing. Replaces your existing mortgage with a new mortgage so you can reduce your interest rate and monthly payment, change the term length and eliminate PMI.

How Arbor Financial Credit Union‘s mortgage products compare to other lenders

Compared to other lenders, Arbor Financial Credit Union offers a wide range of home mortgage options, including conventional, government-backed and specialized mortgages for homebuyers in various circumstances. As a credit union, it can offer competitive interest rates and pricing on its loan products for good credit borrowers.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
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Veterans United stands out from other lenders for its focus on serving the military community.
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Arbor Financial Credit Union reviews and complaints

As of August 2021, Arbor Financial Credit Union has a limited number of online customer reviews. Seven reviewers give the credit union a 3.7 out 5 rating on WalletHub. While most reviews mention banking services, one home loan customer complained of a lack of responsiveness from the mortgage department.

Arbor Financial has been accredited with the Better Business Bureau (BBB) since 2019 and has an A+ business rating. There are zero customer reviews about Arbor Financial on the BBB website, and there are two complaints related to banking services closed in the past three years.

Pros and cons of Arbor Financial Credit Union

Arbor Financial Credit Union might be a good choice for your needs, but weigh the pros and cons first.


  • Competitive refinance rates. Arbor Financial has some of the lowest refinancing rates we found when comparing home loan lenders in Michigan.
  • In-house servicing. Unlike other lenders, Arbor Financial services most of its loans in-house, so you don’t need to deal with an unknown company after closing in most cases.
  • Informative website. The Arbor Financial Credit Union website is clear and informative, providing details on loan types and interest rates.
  • Lenient membership requirements. Anyone who lives, works or worships in Michigan is eligible to become a member.


  • Limited branch locations. Arbor Financial has only 12 retail branches located in southwestern Michigan.
  • No USDA loans. If you’re after a 0% down USDA loan, you’ll need to find another lender.
  • Few online reviews. There are only a handful of customer reviews about the credit union online. This makes it harder to predict the service levels you can expect from the company.

What is Arbor Financial Credit Union?

Founded in 1935 and headquartered in Kalamazoo, Michigan, Arbor Financial Credit Union provides a range of financial services to families and businesses across the state of Michigan.

The credit union has twelve branches in Southwest Michigan, over 44,600 members and $813,637,091 million in total assets as of June 2021.


Review by

Kat Aoki is a mortgage writer at Finder. Since 2011, she’s helped consumers make better financial decisions with their home loans, credit cards, insurance and more. As a business writer for the real estate, mortgage and personal finance industries, she’s written hundreds of helpful, informative articles for some of the leading brands around the globe that include iSelect, InfoChoice,, GE Money and Amex. Kat earned a BS in Marketing from California State University, Sacramento. She enjoys travel, hiking and photography in her spare time.

Expert review

Arbor Financial Credit Union may be a smart option for borrowers looking for a competitively priced purchase or mortgage refinance loan. The credit union offers some of the best refinance rates and terms we found in Michigan, as stated on its website.

But you won’t find USDA loans here, and it has a limited number of retail branches, which are all located in Southwest Michigan. If Arbor Financial Credit Union doesn’t have what you’re after, compare more lenders to find the right one for you.

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