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Loan Rates

Current Owner-Occupied Mortgage Programs as of June 20, 2017 for residential purchases and refinances.

 

Mortgage Loan Rates

Loan Term Interest Rate Discount Points Annual Percentage Rate (APR)

10 Years

 2.250%  2 2.725%

10 Years

2.750%  0 2.810%

15 Years

2.500%  2 2.828%

15 Years

3.000%  0 3.043%

22.5 Years

2.875%  2 3.106%

22.5 Years

3.375%  0 3.407%

30 Years

3.250%  2 3.436%

30 Years

3.750%  0 3.777%
Rates with the payment of one discount point are also available.

 

Adjustable Rate Mortgage (ARM) Plans

Amortizations of up to 30 Years

 

One Year ARM - 1/1

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
2.125%  2.750% 1.210% 2.0% / 6.0% 2 4.037%
2.625% 2.875% 1.210% 2.0% / 6.0% 0 4.028%
Loans may adjust only once each year based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year. Conversion option available to qualified borrowers.
 

Three Year ARM - 3/3

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
2.250% 3.000% 1.490% 3.0% / 6.0% 2 4.174%
2.750% 3.000%
1.490%
3.0% / 6.0% 0 4.124%
Loans may adjust only once every three years based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of three years.
 

Five Year ARM - 5/5

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
2.500% 3.000% 1.760% 3.0% / 6.0% 2 4.132%
3.000% 3.000% 1.760%  3.0% / 6.0% 0 4.147%
Loans may adjust only once every five years based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of five years.

 

 

Note
. The above rates are subject to change without notice.
. Commitment term is 30 days from date of approval.
. Maximum loan amount is $500,000 for fixed and ARMs with conversion option. Jumbo mortgages are available.
. Lending territory includes Wayne, Oakland, Macomb, Livingston, Washtenaw, Monroe, St. Clair and Lenawee Counties.