Michigan Interest Only Mortgage Rates
Updated: August 19, 2017
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Displaying rates for Mortgage Refinance in MI for $200,000
NMLS# 2890 License# FR0017682 |
3.803%APR  30 Year Fixed |
3.750% Rate | $927/mo |
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NMLS# 401822 |
3.832%APR30 Year Fixed |
3.750% Rate | $927/mo |
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NMLS# 3030 |
4.200%APR30 Year Fixed |
4.125% Rate | $970/mo |
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4.343%APR30 Year Fixed |
4.250% Rate | $984/mo |
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4.217%APR30 Year Fixed |
4.125% Rate | $970/mo |
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| PRODUCTS | RATES | +/- |
| 30 Year Fixed |
4.06%
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| 15 Year Fixed |
3.22%
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| 5/1 ARM |
3.21%
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Mortgage rates for Michigan go up to 4.06%
Saturday, August 19, 2017
Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 4.06%. That increased from 4.01% to 4.06%. The 15-year fixed rates are now at 3.22%. The 5/1 ARM mortgage for Michigan is now at 3.21%.
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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