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Refinancing your current Michigan mortgage has never been easier. If you thought refinancing meant getting buried under mountains of paperwork, think again! Lakeland Mortgage Corporation makes it easy and worry-free to reduce your interest rate and monthly payment. We can even help you pay down your balance more quickly for comparable monthly payment. Let our professionals guide you to the very best refinanced loan!
Fixed Rate Mortgages
Rates are fixed for the life of the loan and are available for various amortization periods: 10 years; 15 years; 20 years; 25 years; 30 years. Custom amortization's can be arranged, for example: 8 years.
Adjustable Rate Mortgages (ARM)
--1 month ARM: rate adjusts monthly after a 3-month intro period
--6 month ARM: rate adjusts each six months
--1 year ARM: rate adjusts annually
--3/1 ARM: rate fixed for 3 years, then adjusts annually
--5/1 ARM: rate fixed for 5 years, then adjusts annually
--7/1 ARM: rate fixed for 7 years, then adjusts annually
--5/25: Rates adjust once at end of first 5 years then remains fixed for 25 years
--7/23: Rates adjust once at end of first 7 years then remains fixed for 23 years
5/25 or 7/23; Rate is fixed for first 5 years or 7 years. There is a conditional refinance (approximate cost $275) at the end of the initial 5 or 7 year period.
Lakeland Mortgage Corporation offers refinancing for home loans, first and second mortgages, home equity loans, and lines of credit in Michigan. Get free mortgage quotes, payment calculators and borrowing guides, with unmatched customer service. Nationwide service that matches borrowers with local Michigan lenders. Provides financial information ranging from credit, personal finance, home loans, and more.
Search hundreds of mortgage lenders, compare terms and receive free quotes in seconds. Lakeland Mortgage Corporation provides home loans, mortgage refinancing, and debt consolidation services. Search for the best rates & terms for your needs and find mortgage lenders across the U.S.
Michigan Mortgage News
Thursday, 28-Jul-2016 12:12:17 MDT