Rates Effective January 1, 2020

Your home is where your heart lives, which is why choosing a competitive, affordable mortgage is imperative for sustaining the lifestyle you deserve. 

Providing some of the best rates in Michigan to our member-owned patronage, Arbor Financial CU is proud to serve all of your housing goals. 

Current Mortgage Rates From Arbor Financial Credit Union

Arbor Financial CU offers competitive mortgage rates that change daily due to fluctuations in the stock market. Because of this, our team strives to create updated mortgage rates to provide you with the most valuable and relevant information possible.

Check out our current mortgage rates below:

Fixed Rate Mortgages

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Fixed Rate Mortgages

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year 3.625% 3.708% 3.375% 3.538%
25 Year 3.500% 3.597% 3.250% 3.440%
20 Year 3.375% 3.492% 3.125% 3.354%
15 Year 3.125% 3.275% 2.875% 3.170%

3% Down Mortgages

3% Down Mortgages

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year 4.625% 4.713% 4.375% 4.548%
25 Year 4.500% 4.602% 4.250% 4.449%
20 Year 4.375% 4.496% 4.125% 4.363%
15 Year 4.125% 4.279% 3.875% 4.178%

Mortgage Loan Specials

Mortgage Specials

Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
NO MONEY DOWN & NO PMI SPECIAL
30 Year Special - No Money Down & No PMI 5.250% 5.342% 5.00% 5.181%
15 Year Special - No Money Down & No PMI 4.500% 4.655% 4.25% 4.556%
10 Year Special - No Money Down & No PMI 3.240% 3.455% 2.99% 3.417%
7 Year Special - No Money Down & No PMI 2.99% 3.303% 2.749% 3.351%
FIXED RATE SPECIALS
15 Year Fixed Special 3.000% 3.080% - -
10 Year Fixed Special 2.500% 2.578% - -
7 Year Fixed Special 2.250% 2.327% - -
30-YEAR PURCHASE ONLY SPECIAL
30 Year Purchase Special 3.375% 3.457% - -

Jumbo Mortgages

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Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year Jumbo 4.375% 4.392% 4.125% 4.226%
20 Year Jumbo 4.125% 4.161% 3.875% 4.026%
15 Year Jumbo 3.875% 3.921% 3.625% 3.818%
10 Year Jumbo 4.000% 4.066% 3.750% 4.030%

Physician Mortgages

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Term Rate with 0 pt as low as* APR with 0 pt as low as* Rate with 1 pt as low as* APR with 1 pt as low as*
30 Year 3.875% 3.892% 3.625% 3.723%
20 Year 3.625% 3.660% 3.375% 3.523%
15 Year 3.375% 3.420% 3.125% 3.315%
Please check back often for the most current mortgage rates, updates, and promotional offers. To speak with a professional bank assistant or chat with a loan officer, contact your closest branch now.

How Current Mortgage Rates Are Calculated

Mortgage interest rates are typically influenced by several unique factors.

  1. The financial stability of the Federal Reserve, specifically the bond market. Changes to the national mortgage interest rate can occur in very short periods, swinging significantly from day to day.
  2. The amount of time it will take you to pay off your home (i.e. 15 years, 30 years, etc). The shorter the amount of time you intend to pay back your mortgage, the lower your overall interest rate will be.
  3. Your current credit score and credit history over time. The higher your score and the longer your history, the more competitive rates will be available to you.

The overall cost of your home, as well as the loan repayment plan you choose to take, will have a significant impact on the amount of interest due each month. 

Choosing a reputable bank is the first step towards finding the lowest interest rates possible for your loan.

Will Current Mortgage Rates Go Down?

Due to the variance of the marketplace and multiple factors outside of individual control, there is no way of knowing if current mortgage rates will rise or fall within the next year. 

However, controllable factors such as larger down payments, strong credit history, and refinancing are all common methods used to lower rates and monthly bills. Not all of these methods are immediately available to bank members in different seasons of life, meaning that timing is very important when choosing to purchase a house.

The timing of applying for a mortgage on your new home is entirely dependent on your unique needs and personal goals. 

For example, consider the following questions:

  • Where will you want to be in five years? Within the same state? In the city? In the country?
  • Do you expect your annual income to rise or fall over five years? Will this significantly impact your living conditions?
  • What kind of dream home do you see yourself in? Will it come with lots of property, or none at all? Space for children or pets?

If the answers to these questions fall in line with your personal housing goals, it may be time to consider looking for a current mortgage rate that fits your way of life.

How To Calculate Current Mortgage Rates 

Current mortgage rates will rise and fall according to many factors and can be best calculated through a personal assessment of financial well-being. To get a better handle on your situation and calculate monthly payments for your potential property, try our mortgage loan calculator.

Credit unions such as Arbor Financial CU offer some of the lowest mortgage rates in Michigan. To apply for your home mortgage loan now and begin moving into a new chapter of your story, reach out to the professionals at Arbor Financial CU today.

Learn More About Mortgages

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