Mackinac Savings Bank

Mackinac Savings Bank, FSB, is a community bank headquartered in West Palm Beach, Florida. The bank employs 25 individuals and generates approximately $50 million in annual revenue. Mackinac Savings Bank specializes in providing mortgage loans, particularly catering to first-time homebuyers. They offer financial assistance programs, ranging from $5,000 to $10,000, to assist eligible individuals in purchasing homes. Additionally, the bank provides a free credit improvement program to help prospective borrowers enhance their credit scores, enabling them to secure more favorable loan terms and lower interest rates. Mackinac distinguishes itself as a HUD-FHA Direct Endorsement lender, offering purchase and combination purchase & renovation loans. Their extensive experience in rehabilitation projects, including "down to the wall studs" renovations, makes them a reliable choice for borrowers seeking financing for such projects. Notably, Mackinac specializes in securing loans for challenging properties, such as cooperative apartments in Florida and Michigan, and even shares loans for cooperatives situated on leased land. Interested parties can connect with Mackinac Savings Bank through their website, mackbank.com.