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Interest Rates

Rate Sheet
Interest rates are based on specific scenarios. Things that determine your rate are credit score, loan to value, purchase or re-finance, and the term of your loan.
To get a rate quote based on your specific loan scenario, contact a mortgage loan officer by email, or by phone at (989) 892-6088.

Mortgage Rates
Effective Date: Monday, October 2nd, 2023
The mortgage rates are our lowest possible rates which not all members qualify for. APR based on $100,000.00, and 80% LTV financed for specified term.
TermRateAPR*% Financed
Conventional First Mortgage
7 Year Fixed CALL Quoted Daily 80%
10 Year Fixed CALL Quoted Daily Up to 97%
15 Year Fixed CALL Quoted Daily Up to 97%
20 Year Fixed CALL Quoted Daily 97%
30 Year Fixed CALL Quoted Daily 97%
10 Year Balloon CALL Quoted Daily 80%
Rural Development CALL Quoted Daily 101%
Home Equity
Home Equity Line of Credit CALL Quoted Daily up to 100%
5 Year Home Equity CALL Quoted Daily up to 100%
10 Year Home Equity CALL Quoted Daily up to 100%
5 Year Balloon Home Equity CALL Quoted Daily up to 100%

* APR is Annual Percentage Rate. Rates are quoted "as-low-as" and are subject to change.

** Maximum financed is $548,250 for Conventional First Mortgages.

*** HELOC rate based on a 10 year draw. Minimum floor rate is 4.0% and maximum rate that may be imposed is 18% using the prime rate as an index. Maximum financed for all Home Equity loans is $100,000.


Rates Vs. APR
What is the difference between the interest rate and the A.P.R.?

You'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to "why" is that federal law requires the lender to tell you both.

The A.P.R. is a tool for comparing different loans, which will include different interest rates but also different points and other terms. The A.P.R. is designed to represent the "true cost of a loan" to the borrower, expressed in the form of a yearly rate. This way, lenders can't "hide" fees and upfront costs behind low advertised rates.

While it's designed to make it easier to compare loans, it's sometimes confusing because the A.P.R. includes some, but not all, of the various fees and insurance premiums that accompany a mortgage. And since the federal law that requires lenders to disclose the A.P.R. does not clearly define what goes into the calculation, A.P.R.s can vary from lender to lender and loan to loan.

Note when you're browsing for loan terms that the A.P.R. will not tell you about balloon payments or prepayment penalties, or how long your rate is locked. Also, you'll see that A.P.R.s on 15-year loans will carry a higher relative rate due to the fact that points are amortized over a shorter period of time.


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