Michigan Interest Only Mortgage Rates

Updated: October 17, 2018

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Displaying rates for Mortgage Refinance in MI for $200,000

NMLS# 417490

5.167%

APR

30 Year Fixed

5.125% Rate

$1,089/mo

Updated October 17, 2018

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5.301%

APR

30 Year Fixed

5.250% Rate

$1,105/mo

Updated October 17, 2018

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5.375%

APR

30 Year Fixed

5.375% Rate

$1,120/mo

Updated October 17, 2018

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PRODUCTS	RATES	+/-
30 Year Fixed	5.17%
15 Year Fixed	3.99%
5/1 ARM	4.13%

Wednesday, October 17, 2018

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Mortgage rates for Michigan go down to 5.17%

Wednesday, October 17, 2018

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 5.17%. That dropped from 5.21% to 5.17%. The 15-year fixed rates are now at 3.99%. The 5/1 ARM mortgage for Michigan is now at 4.13%.

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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