TLC Community Home > Loan Products > Other Home Loans

Construction Loans

Construction loans are available to members who want to build their own home. A construction loan helps you pay for the work being done while your house is being built. Upon completion of construction, the loan can roll into a TLC First Mortgage. TLC does not finance owner built projects; however, you may act as your own general contractor.

Second Home-Loans

You’ve lived your life well and are ready to invest in a vacation home. Second home loans give you the same great rates as traditional first mortgages. The lending area is anywhere in Michigan and you can choose from many different mortgage programs. 

Bridge Loans

Bridge loans are used to pay
off the mortgage on the house you’re in now while you put it up for sale. Your TLC loan officer will set you up with a first mortgage program on the house you want to buy. When your original
house sells, the proceeds will be applied to pay your bridge loan off.

Home Equity

Home equity loans are established by using the equity in your home as collateral for your loan. Obtain funds for home improvements, college tuition, investments, bill consolidation, or for any other purpose. A Home Equity is available as a fixed-rate loan or as a line-of-credit loan.

Home Improvement Loans

Home improvement loans are used most often for needed repairs. The amount you borrow is less than what you could borrow with a Standard Home Equity and it has a quicker repayment period. 

Second Mortgages 

Second mortgages are additional loans placed on property already mortgaged. The first mortgage can be through TLC or another financial institution. A second mortgage may be used for a variety of purposes such as debt consolidation, educational purposes, or home improvements.

Protect your investment in your home by taking care of those needed repairs or bills right now.  Our low loan rates make it affordable.  Depending on your situation, the interest may be tax deductible (consult your tax advisor). For additional information, call or stop by the TLC office near you.

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