2675 44th Street S.W., Suite 206
Wyoming, MI 49519
Phone No. # (616) 301-1811
Fax No. # (616) 301-2447

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A+ Rating

Mortgage Glossary

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Offer To Purchase
A written document submitted by the buyer to the seller containing the price and conditions under which the property will be bought.

Original Principal Balance
The total amount of principal owed on a mortgage before any payments are made.

Origination Fee
A fee paid to a lender for processing a loan application. The origination fee may be stated in the form of points. One point is 1% of the mortgage amount.

Origination Points
See points

Owner financing
A property purchase transaction in which the property seller provides all or part of the financing.

Veteran Owned
Company

Veteran Owned Company

Current Rates
30 Yr Fixed $200,000	4.125% APR 4.507%
15 Yr. Fixed $200,000	3.375% APR 3.633%
FHA Rate $200,000	3.625% APR 4.125%
30 Yr Jumbo $500,000	5.125% APR 5.220%
15 Yr Jumbo $500,000	4.750% APR 4.925%
30 Yr Land $100,000	5.350% APR 5.565%
15 Yr Land $100,000	4.450% APR 4.816%
Float Land $100,000	3.750% APR 4.025%
Prime Rate	3.250%
Commercial $500,000	6.375% APR 6.723%

Interest rates, mortgage program terms and conditions are subject to change without notice. Loans are subject to credit review and approval. Properties securing all loans must be located in Michigan.

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