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Allen Park, MI Mortgage Rates January 2021

Allen Park, Michigan Mortgage Rates - Refinance Rates:

Search and compare mortgage rates and refinance rates in Allen Park, MI. Our rate table has a list of Allen Park, Michigan mortgage rates and mortgage refinance rates. You can also use our free mortgage calculator to calculate monthly mortgage payments.

When you start your search for current mortgage rates in Allen Park, MI you need to first have an understanding of the types of mortgages available and their corresponding interest rates. Types of rates available in Allen Park, MI include conforming mortgage rates, super conforming rates, jumbo rates, adjustable rates, HELOC rates and home equity loan rates. There are variations of each type of mortgage available in Allen Park, MI listed below.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 58912, All points, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112504.gif
300000
Purchase
USD
Figure Lending LLC Logo
NMLS # 1717824
01/17/2021
at 0.000 pts
0 day lock rate
Est payment:
Fees in APR:
Apply online in minutes and close in days, not months.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corp
AmeriSave Mortgage Corp
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111245.gif
300000
Purchase
USD
AmeriSave Mortgage Corp Logo
NMLS # 1168
01/17/2021
at 0.000 pts
0 day lock rate
Est payment:
Fees in APR:
Get a Mortgage Rate Quote Fast
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112490.gif
300000
Purchase
2.576%
2.375%
USD
Figure Lending LLC Logo
NMLS # 1717824
01/17/2021
at 2.000 pts
30 day lock rate
Est payment: $1,166
Fees in APR: $8,550
Put your money where you need it sooner.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112490.gif
300000
Purchase
2.627%
2.500%
USD
Figure Lending LLC Logo
NMLS # 1717824
01/17/2021
at 1.000 pts
30 day lock rate
Est payment: $1,186
Fees in APR: $5,550
Put your money where you need it sooner.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112490.gif
300000
Purchase
2.803%
2.750%
USD
Figure Lending LLC Logo
NMLS # 1717824
01/17/2021
at 0.000 pts
30 day lock rate
Est payment: $1,225
Fees in APR: $2,550
Put your money where you need it sooner.
 
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.


Allen Park, MI Conforming Mortgage Rates

Conforming mortgage rates are rates on mortgages that meet the criteria set out by the Federal Housing Finance Agency. There are limits set for each county of Michigan. There are higher mortgage loan limits for designated high-cost areas, like on the coasts and in large cities.

Allen Park, MI mortgages that “conform” to the standards set out by the Federal Housing Finance Agency can be purchased by Freddie Mac and Fannie Mae. This process guarantees banks are able to resell Allen Park, MI mortgage loans that have been made. As a result, Allen Park, MI mortgage rates today are lower than jumbo interest rates in Allen Park, MI. Conforming mortgages and jumbo mortgages are available in terms of 40 years, 30 years, 25 years, 20 years, 15 years and 10 years.

Allen Park, MI Super Conforming Home Loan Rates

Super conforming mortgages in Allen Park, MI are mortgages that have higher mortgage loan amounts but still “conform” to the standards set by the Federal Housing Finance Agency. Super conforming mortgages are available for the higher cost housing areas like the coasts and in large cities.

Allen Park, MI Jumbo Loan Interest Rates

Allen Park, MI jumbo mortgage rates are rates for mortgage loans that have a dollar amount higher than conforming and super conforming loan amounts. Jumbo home loan rates in Allen Park, MI are usually 0.75 basis points higher than conforming mortgage rates in Allen Park, MI because there is no guarantee banks and credit unions can sell these mortgages after they make the loans.

Allen Park, MI Fixed Rate Mortgages

Fixed rate mortgages are the most common mortgage available in Allen Park, MI. The mortgage rate and the monthly payment stay the same for the entire life of the mortgage loan. This makes fixed rate mortgages the most stable and predictable for mortgagees.

Allen Park, MI Adjustable Interest Rates

Allen Park, MI adjustable mortgages have a fixed mortgage rate for a certain number of years and then the mortgage rate adjusts every year after the initial period. There are usually yearly caps and life time caps on how much the mortgage interest rate and fluctuate. Your monthly mortgage payment will be lower at first but can rise when mortgage rates rise. Adjustable mortgages are available in terms of 1 year, 3 years, 5 years, 7 years and 10 years.

Allen Park, MI Interest Only Home Mortgage Rates

Allen Park, MI interest only mortgages are mortgages that the borrower pays only the interest on the principal balance or a set period of time. After the initial period the mortgagee pays both interest and principal. Interest only (IO) mortgages were popular during the housing boom.

Allen Park, MI FHA Mortgage Mortgage Rates

Borrowers in Allen Park, MI must meet certain requirements established by FHA to qualify for a mortgage insured by the FHA. FHA mortgage interest rates in Allen Park, MI are usually lower than conforming mortgage interest rates because mortgage lenders bear less risk because FHA will pay the lender if a homeowner defaults on his or her mortgage loan.


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