Home Refinancing in Michigan
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Refinancing your home today requires the experience of an expert in the mortgage field. Our experts are here to guide you successfully through the process and achieve your financial goals.
Common reasons to refinance your home in Michigan
1. Lower your monthly mortgage payment.
2. Save money every month by refinancing from a higher interest rate to something lower. Or refinance from a shorter-term loan to one that may better fit your financial goal of maximizing your monthly usable income. Even when doing a rate and term refinance, it is possible to receive a small amount of money back at closing – typically 2% of your loan amount or $2,000 (whichever is lower).
3. Refinance your VA or FHA mortgage faster than ever. VA and FHA Streamline Refinances allow you to refinance an existing VA or FHA loan without the need for an appraisal or verification of your income, making your refinance faster than ever.
4. Change your mortgage from a risky Adjustable-Rate Mortgage to a secure Fixed Rate Mortgage.
5. Debt Consolidation. Take cash out of your home for any reason. Consolidate your debts by combining your first and second mortgages, investments, college tuition, vacations, etc.
6. Home improvements. Refinance to improve your home with an FHA 203K home improvement loan. Choose from the quick streamline option for changes less than $35,000 or the full version for more extensive renovations.
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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
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Popular Home Loan Programs
Conventional Loans
Used for Primary Residence, Second Homes and Investment properties.
First-Time Buyer Home Loans
No or low-down payment options, home buyer grants & more.
HELOCs & Second Mortgages
Access the equity in your home without refinancing your existing mortgage.
FHA Streamline Refinance
A FHA Streamline is a mortgage with reduced documentation, does not require an appraisal.
Fixed Rate Mortgages
Available on all loan types: Conventional, FHA, VA, RD Loans, Reverse Mortgages, & more.
FHA Loans
Used for Primary Residence only and are HUD insured.
Jumbo Loans
Used for Primary Residence, Second Homes and Investment properties. Loans over $647,200.
Reverse Mortgages
Used for Primary Residence only and are HUD insured. Must be 62 years of age or older.
USDA Zero-Down Loans
Used for Primary Residence only and are HUD insured. Typically rural properties.
Bank Statement Non-Conforming Loans
Used for Primary Residence, Second Homes and Investment properties. For the self-employed.
203k Home Improvement Loan
HUD’s program for the rehabilitation and renovation of single family properties.
VA Loans
Used for Primary Residence only and are insured by the Department of Veterans Affairs.
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