Community Financial's mortgage experts are local lenders with years of experience helping Michigan homeowners into the "right" mortgage. We offer very competitive rates, affordable low fees, and a variety of terms to make the buying or refinancing process easier.
No matter what your mortgage needs, from primary residences and second homes to investment properties and vacant land, we can help you finance single-family residences, condominiums, factory-built homes or multi-unit properties. We can also help lower your current mortgage payments by refinancing your home at a lower rate. Schedule an appointment today to learn more about our mortgage options.
Get Preapproved for Free!
Show realtors and home sellers you’re a serious shopper by getting pre-approved for our mortgage. You'll also find out how much house you can afford before you start house-hunting and have an idea of what your monthly payments will be. Speak to a mortgage specialist today.
Adjustable Rate Mortgages (ARMs)
With our adjustable rate mortgages, Community Financial is able to give you the benefit of a lower rate for the initial term of the loan. Once the initial period has passed, your rate may change periodically over the remaining term of the loan. The rate increases or decreases depend on loan’s index and margin at the time.
Our adjustable rate mortgages offer:
• Initial rate is fixed for 1, 3, 5 or 7 years
• A maximum loan to value of 95%
• Annual re-pricing based on the 1-year CMT + 2.75% and a 30-year term
• Annual rate cap: 2.0%, lifetime cap: 6.0%
• Your annual percentage rate (APR) varies based on your loan amount and finance charges
• ARM rates and points are subject to change without notice
Consider an ARM if you’re confident that your income will increase steadily or if you plan to move in a few years.