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. Get pre-approved for free to show sellers and realtors you're a serious shopper!
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|Today's Mortgage Rates|
|Effective Date: 02/01/2023|
|Mortgage Rate||Mortgage APR*||Points|
|30 Year Fixed Rate|
|15 Year Fixed Rate|
|7 Year ARM|
*APR=Annual Percentage Rate.
The information provided assumes the purpose of the loan is to purchase an existing single family detached home and will be used as a primary residence. 7 Year ARM rates and payments may increase or decrease after consummation due to market-driven changes to the index. ARM rate and payment adjustments are based on the 1 Year CMT plus 2.75% margin. The interest rate can increase or decrease up to 2% the first adjustment period and 2% per adjustment period after that, with a lifetime cap of 6%.
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. Programs, rates, terms and conditions are subject to change without notice. Rate may vary depending on individual credit history, amount of down payment and underwriting factors.