Friday, April 18, 2014

Mortgage Loans

Fixed Bi-Weekly Construction 5 Year Arm Home Equity  
 
Fixed Rate Mortgages
This is the most traditional type mortgage, and many people like the security it offers. A fixed rate mortgage allows you to know exactly how much you’ll pay in principle and interest every month for the entire life of the loan. The most common terms are the 15 and 30 year loan, but you can also select a term somewhere in between.



Click here to calculate your loan
 
Bi-Weekly Mortgages
Bi-Weekly loans offer substantial Savings over the life of the loan, typically through interest savings.  Bi-Weekly mortgage advantages are:
  • Reduce the term of the loan
  • Pay less interest over the life of the loan
  • Build equity in home sooner
 
5  year Adjustable Rate Mortgage (ARM)
Initial discounted rate that adjusts after the fixed period on a yearly basis for the remaining life of the loan. With an initial lower interest rate and mortgage payment, you may qualify for a higher loan amount. No prepayment penalties. Annual rate adjustment with caps and LTV up to 80% with no PMI. Contact us today!
 
Construction Loans
Financing construction of a new home requires a special type of mortgage loan. As construction progresses, the contractor will require payments for work as it is completed. Mason State offers a single closing for the construction loan and the permanent loan avoiding double costs!



Interest only payments during construction period
 
 
Home Equity Loans-Fixed and Revolving Lines Available
Tapping into the equity you’ve built in your home is a smart way to finance a new car, home improvements, a vacation or college costs. Home equity loans are available in a fixed rate product or line of credit.



Borrow against your home’s equity and take advantage of the few remaining tax deductions. Check with your tax professional regarding deductibility of interest payments.



Call our Main Office at (517)676-0500

Call our East Lansing Office at (517)337-5000
 
 

 

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