Mortgage Programs in Michigan
Mortgage Programs
Inter-Lake Mortgage Company, LLC offers a wide range of home loan options at competitive rates. Our
professional staff can help you decide which program is best for you.
Adjustable Rate Mortgages
ARM loans the interest rate increases or decreases periodically. This may lead
to lower interest rates or, on the other hand, somewhat high rates. If the low
interest rates remain steady, the ARM could be inexpensive and low over a long
period of time. The mortgage on ARM loans can be tied to many types of indexes.
Commercial Loans
Commercial business loan can be a risk if you don't present your loan proposal
the right way. We always look at all our loan as if we are borrowing the money
ourselves. We can present your loan to the best lenders to find the best terms for your financial needs. Part of it is find the best terms and interest
rate without a pre-payment penalty (Yield Maintenance Fee or Defeasance Fee).
Debt Consolidation Loans
Refinancing or home equity loans are used to help relieve the debt load you are facing
today, a way to help is refinance your mortgage loan to help payoff your bills
now. Apply Today In 30 days or less you can
payoff your debts and have just payment - your loan payment.
Fixed Rate Mortgage
These loans are exactly what it means, a loan that is set for the life of the
loan, it does not change, and your monthly payment does not change through the
life of the loan. There are also modified fixed rate mortgages called ARMS or
adjustable rate mortgage.
Home Equity Loans
Home equity loans are types of loans based on the value minus liens on your home.
Interest payments on a second mortgage may be tax
deductible. They come in two varieties: the traditional second trust deed
(mortgage) and a line of credit, a great way to payoff debts. A way to pay bills over a long
period of time. It's much better than a second loan, lower interest
rate, interest only loan, and is open as long as you want. It's a great way to
access your money. Another great thing is to avoid private mortgage insurance or PMI.
Interest Only Loans
Apply today online to get a fast interest only loan approval quote for lowest rates. We have access to a wide variety of innovative financing available to us for every type of borrower, and their special needs, which are available to you through our nationwide network of approved lenders. This is a great way to borrow money at the lowest mortgage rates. Give us a call or Email Us: (616)301-1811 or Rommie.Bailey@Michigan-Inter-Lake-Mortgage.com
Purchasing
You have decided to buy a new home. This page will help you take this big
financial step by describing the residential buying, mortgage financing, and
settlement statement loan process. Lenders and mortgage brokers are required by federal law, the Real
Estate Settlement Procedures Act (“RESPA”), to give you, Buying A Home booklet. You should
receive it when applying for a loan, or within three business days afterwards.
Refinancing
Refinancing information you need to consider when financing your current mortgage. Most home loan
terms are originated for 30 years, but the national average for a conventional mortgage is 5 ˝ years and 18 months on sub-prime conventional loans. The average homeowner will sell their home in 8 ˝ years.
Michigan Vacant Land Loans
Purchasing land property can be a real problem if you don't have perfect credit or large down payment and reserves. We have all types of financing options to purchase property in Michigan.
Unimproved land, or raw land, with no plans for improvement is the hardest type of property to secure a loan on because it is in essence a speculative investment. A raw land loan no longer require a higher down payment or a higher interest rate than an improved property loan.
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