These loan programs are fixed for the entire term of the loan. Choices include 30, 25, 20, 15, and 10-year terms. The rates will not change during the life of the loan. These loans can be used for the purchase or refinance of a personal residence, second home, or investment property.
Referred to as ARMs, these loans are fixed only for a period of time, typically 5 – 10 years. They will be amortized over a 30-year term. ARMs will have lower start rates than fixed rate mortgages but will adjust to current market rates when the fixed period has expired.
This program offers a no Mortgage Insurance option for qualifying Purchase or Rate & Term Refinance. Our experienced Loan Officers at a number of locations can provide you with more information and design a plan to meet your specific mortgage needs.
Huron Valley Financial, Inc. will assist you with a customized mortgage solution. Call 734-669-8000 or get your FREE Quote today.