Michigan Mortgage Lending

The Latest News and Developments For
Detroit Michigan Mortgages

Michigan Home Loans Latest Breaking News

If you thought refinancing meant getting buried under mountains of paperwork, think again! Lakeland Mortgage Corporation makes it easy and worry-free to reduce your interest rate and monthly payment. Let our professionals guide you to the very best refinanced loan!

Fixed Rate Mortgages Rates are fixed for the life of the loan and are available for various amortization periods: 10 years; 15 years; 20 years; 25 years; 30 years. Adjustable Rate Mortgages (ARM) --1 month ARM: rate adjusts monthly after a 3-month intro period --6 month ARM: rate adjusts each six months --1 year ARM: rate adjusts annually --3/1 ARM: rate fixed for 3 years, then adjusts annually --5/1 ARM: rate fixed for 5 years, then adjusts annually --7/1 ARM: rate fixed for 7 years, then adjusts annually Two-steps --5/25: Rates adjust once at end of first 5 years then remains fixed for 25 years --7/23: Rates adjust once at end of first 7 years then remains fixed for 23 years Balloons 5/25 or 7/23; Rate is fixed for first 5 years or 7 years.

Lakeland Mortgage Corporation offers refinancing for home loans, first and second mortgages, home equity loans, and lines of credit in Michigan. Nationwide service that matches borrowers with local Michigan lenders.