Current Mortgage Rates in Michigan
Current Mortgage Rates & Why Use A Broker
Are you looking to buy a home or refinance your home in Michigan? Unless you’re paying with cash, you will likely need to secure a mortgage loan to finance your purchase or refinance. As you’re evaluating Michigan mortgage brokers and banks, an important consideration is the mortgage interest rates they’re offering for each loan product. In addition, you will be surprised at how much rates vary from one lender to the next, and how the difference in rates will impact you as a potential borrower. Furthermore, hiring a trusted and experienced mortgage broker in Michigan, such as Daniel Litvin, will save you thousands!
Many banks only offer a few home loan programs, and in many cases, may have higher rates than you can get from a well-connected Michigan mortgage broker. We encourage you to watch our video “Banks vs Brokers” to see why a Mortgage Broker is the best choice.
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Often the best loan type for clients with good credit and a modest down payment. Benefits of conventional loans include no upfront funding fees, cancellable Private Mortgage Insurance, minimum down payment ranges of 5% and typically has lower monthly costs for PMI. Common loan terms are 30 or 15 years. Call us to get exact numbers. (248) 608-RATE