Michigan Interest Only Mortgage Rates
Updated: February 26, 2021
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Displaying rates for Mortgage Refinance in MI for $200,000
NMLS# 1168 License# FR0018107 |
3.522%APR  30 Year Fixed |
3.500% Rate | $899/mo |
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NMLS# 1799947 |
3.255%APR30 Year Fixed |
3.250% Rate | $871/mo |
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NMLS# 2890 License# FR0017682 |
3.147%APR30 Year Fixed |
3.125% Rate | $857/mo |
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NMLS# 925476 |
3.517%APR30 Year Fixed |
3.500% Rate | $899/mo |
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| PRODUCTS | RATES | +/- |
| 30 Year Fixed |
3.00%
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| 15 Year Fixed |
2.56%
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| 5/1 ARM |
4.56%
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Mortgage rates for Michigan go down to 3.00%
Friday, February 26, 2021
Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Michigan is now at 4.56%.
Interest Only Rates in Michigan
When you buy a home in Michigan or refinance your existing mortgage with an interest only mortgage loan, you are taking out a 30-year mortgage, electing to pay "interest only" (instead of principal + interest) for a set period of time, such as 3, 5, 7 or 10 years. After the end of the "interest only period", the monthly payments readjust to include the principal, and the loan is re-amortized for the remaining years. Check out our main page on Interest Only Mortgage Rates.
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