Allen Park, MI Mortgage Refinance in Michigan
We make it easy to get the lowest mortgage refinance interest rate in Allen Park, MI.
Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Allen Park, MI residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.
When Should I Refinance?
The best time to refinance is when interest rates in Allen Park, Michigan drop below the rate of your current mortgage. With a lower interest rate, you'll save money on your mortgage payment every month. Be sure to read our article titled Reasons to Refinance Now.
Turn Your Adjustable Rate into a Fixed Rate
With adjustable rates on the rise Allen Park, MI residents can benefit greatly from refinancing your home for a low fixed rate. These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.
Cash-Out Refinancing
Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash. You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt. How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.
Eliminate PMI
Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent. If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.
Save Thousands in Interest
When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years. Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan. However, in the long-term you are saving thousands in interest. And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.
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| Allen Park, Michigan News |
Allen Park/Melvindale: Fire departments earn grants
Two Downriver fire departments recently were awarded a portion of a $560 million grant from the U.S. Department of Homeland Security's Federal Emergency Management Agency.
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Metro Detroit tops in speed traps, group finds
Telegraph Road in Redford Township, the Southfield Freeway in Allen Park and the Interstate 696 service drive in Warren all share a stigma: They're reputed to be among Metro Detroit's most treacherous speed ...
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Off the Blotter: Police reports
The following incidents are compiled from crimes recently reported by Downriver police departments.
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Detroit Lions cut quarterback and former Michigan star Drew Henson
The Associated Press ALLEN PARK, Mich. - The Detroit Lions cut quarterback Drew Henson, parting ways with the former Michigan quarterback and New York Yankees prospect.
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Allen Park cemetery hits dead end
Allen Park's plan to build a local cemetery is now a dead issue. Inspired by numerous requests from citizens to be buried in the city where they lived, Allen Park officials agreed in the spring to look into the ...
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Allen Park: Angle parking is here
Angled parking spaces have been painted onto Allen Road as the final step of a two-year project.
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Michiganders who helped France
The French Legion of Honor Medal -- France's highest distinction -- is awarded to veterans who aided the country during World War II.
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Toy drive donations badly needed
Toys for Tots volunteer Kim Felske of Brownstown Township is worried. "We have more families registered already this year than we have ever had," she said.
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Voters reelect Constan
State Rep. Robert Constan has won a second term to represent District 16 in the State House of Representatives.
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Voters in Melvindale, Allen Park approve school millage
Voters in Melvindale and the northern end of Allen Park approved an 18-mill school operating costs renewal for the Melvindale-Northern Allen Park School District Tuesday.
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Allen Park: Fire department has fund-raiser
The city's firefighters are looking for support to help them purchase new equipment for ambulances.
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At this stage
The Riverview Community High School Drama Club will present "Wait Until Dark" at 7 p.m. Thursday and next Friday at the RCHS auditorium, 12431 Longsdorf.
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UN envoy to Israel: Halt house demolitions
The U.N.'s Mideast envoy said Saturday he was "alarmed" by Israel's decision to resume house demolitions in the West Bank.
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Allen Park: 'Mr. Ashtray' draws state award
Donald Graham recently was recognized for his efforts to keep Downriver clean. Keep Michigan Beautiful Inc., an anti-litter organiza-ion founded in the early 1960s, awarded Graham a Distinguished Service Plaque ...
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Alumnus wins college's award
James Jackson of Allen Park accepts Adrian College's Alumni Service Award. Sunday, October 26, 2008 12:19 PM EDT James Jackson of Allen Park was one of many veterans who started attending Adrian College shortly ...
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Allen Park: Residents on Reeck continue campaign
Residents along Reeck Road are sending a message: "Slow Down, Speed Kills." In case drivers forget, nearly every lawn from Allen to Goddard has a big plastic, yellow sign to re-mind them.
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Drag racing is family's driving passion
Nicole and Julie Liberty, of Allen Park come from a racing family. The girls, in ninth and fifth grades, participate in junior drag racing.
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MELVINDALE: Schools seek renewal
The Melvindale-Northern Allen Park school district is seeking the renewal of an 18-mill nonhomestead levy Nov.
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Reward Offered For Allen Park Bank Robber
Crime Stoppers is offering a $1,000 reward for information leading to the arrest of the person who robbed a TCF bank in Allen Park.
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Allen Park Residents Demand Road Safety
One Allen Park family is organizing a petition to slow down drivers after it says one of the local streets has turned into a speedway and putting residents in danger.
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With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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