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Michigan Interest Only Mortgage Rates

Updated: April 20, 2019

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

5.750%

APR
30 Year Fixed
5.750% Rate $1,168/mo
  • Updated April 20, 2019
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4.101%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated April 20, 2019
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4.925%

APR
30 Year Fixed
4.875% Rate $1,059/mo
  • Updated April 20, 2019
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PRODUCTS RATES +/-
30 Year Fixed 4.18%
15 Year Fixed 3.67%
5/1 ARM 4.17%
Saturday, April 20, 2019

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Mortgage rates for Michigan go down to 4.18%

Saturday, April 20, 2019

Mortgage rates for Michigan on Lender411 for 30-year fixed-rate mortgages are at 4.18%. That dropped from 4.25% to 4.18%. The 15-year fixed rates are now at 3.67%. The 5/1 ARM mortgage for Michigan is now at 4.17%.

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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