Current Mortgage Interest Rates

Michigan Current Mortgage Rates
How current are the rates on this site?
Rates you'll see on our site are current rates we offer today. These rates are not indicative of where mortgage rates are in general. These are special rates for loan programs that typically offer lower rates than traditional; 15 year fixed rate mortgage 30 year fixed rate loan products. Please remember, rates are susceptible to market conditions and can change quickly. Also see Loan programs

Why are your rates different from those in the newspaper?
If you compare our loan rates to those in newspapers and other print publications, please bear in mind that the rates in these publications may have been reported one or more days ago.

• Rates on this site are updated each business day, and often several times a day. Consumers that have loan shopped extensively have told us that we offer some of the most competitive rates around-both on and off the Web.
• Note that the rates resulting from us are personalized according to answers you give and the documents you provide us. Newspaper rates are not tailored to your individual needs and circumstances.

How is my information used to come up with loan options?

• Based on the information you provide us in the application, A Michigan Lending Company Loans searches its vast database of currently available loans to determine which of them offer you the most attractive financing options at the lowest cost.
• We scan to decide which loans match your preferences and financial situation. Then we sort through these loans to display the most attractive loans to you based upon your preferences.

How important is the loan to value ratio?
The loan-to-value ratio or "LTV" shows how much equity you have in your home. Equity is the difference between how much your home is worth and how much you owe on it. For instance, if your home is worth $150,000 and you owe $100,000 on your mortgage, you have $50,000 worth of equity in your home. Lenders' experience is that the higher the loan to value (which means the lower the equity) the greater the risk the borrower may default on the loan.

The following will affect your interest rate.

Can I get home financing without paying points or closing costs?
Yes. We offer a wide variety of home financing programs, which give you a lot of options, including no points and no closing costs. When you speak with a loan officer be sure to mention you're interested in learning more about our no points and no closing costs options.

Are the pre-qualification and pre-approval services free?
There is no charge for getting pre-qualified or pre-approved. You are not under any obligation to use this site to apply for a loan, even if you use it to review interest rates and terms for a variety of loans or to get pre-approved or pre-qualify for a loan.

Can I get a loan if I live outside the United States?
Yes, as long as certain criteria are met. Typically, you must be a U.S. citizen with established credit and income history. We can occasionally assist borrowers who are not U.S. citizens if the home being financed is a primary residence.