|Fixed-Rate Mortgage||Adjustable-Rate Mortgage|
|FHA Mortgage||Jumbo Mortgage||Vacant Land|
Jumbo Mortgage Loan
Michigan Schools and Government Credit Union offers competitive, industry-leading pricing on Jumbo Mortgage Loans* with flexibility for home financing on larger loans.
At MSGCU, we offer quick qualifying and an easy process from application to close while offering record-low interest rates and fees.
- Purchase or refinance
- Loan amounts more than $417,000
- Fixed-Rate or Adjustable-Rate Mortgage
- No prepayment penalties
Rates as of Monday, April 30, 2018
|Product Description||Rates as low as||APR*||Fully Indexed Rate||Payments|
|Jumbo Mortgage Loans - Fixed|
|30 Year Jumbo Fixed||4.750%||4.882%||N/A||Show Payments|
|15 Year Jumbo Fixed||4.250%||4.476%||N/A||Show Payments|
|Jumbo Mortgage Loans - ARM|
|5-Year Jumbo ARM||4.875%||3.723%||2.875%||Show Payments|
*APR - Annual Percentage Rate
**Fixed-Rate Assumptions: The payment is based on a $500,000 loan amount (80% loan-to-value) and consists of principal and interest only. The payment does not include taxes and insurance premiums.The actual payment amount will be greater. The APR includes a Processing Fee of $295, an Underwriting Fee of $450 and 0.25% Discount Point.
|**Adjustable-Rate Assumptions: The initial payment is based on a $500,000 loan amount, amortized for 30 years. The interest rate is variable and subject to change after 5 years. After the initial 5 years, the principal and interest payment can change every year for the remaining life of the loan. The payment consists of principal and interest and does not include taxes and insurance premiums. The actual payment amount will be greater. The APR includes a Processing Fee of $295, an Underwriting Fee of $450 and 0.25% Discount Point.|