Ferndale, MI Mortgage Refinance in Michigan
We make it easy to get the lowest mortgage refinance interest rate in Ferndale, MI.
Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Ferndale, 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 Ferndale, 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 Ferndale, 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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Mortgage Refinance Calculators
Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
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Refinance Articles
Reasons to Refinance Now
Beat the Subprime Mortgage Crisis
Return to mortgage refinance in the state of MI
| Ferndale, Michigan News |
Two face charges in enrollment of boy who brought gun to school
FERNDALE A retired Oak Park educator and member of a nonprofit community drug prevention group face a court hearing this week on charges she and her son fraudulently enrolled a boy who brought a loaded handgun ...
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City to discuss millage at Dec. 15 meeting
What is a millage proposal to one commissioner is a cost estimate to another. And as more fiscal bad news trickles in, the Royal Oak City Commission will review on Dec.
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Group seeks funding to create plan for Royal Oak bike lanes
A bicycle task force formed in the city is searching for funding to pay a consultant to create Royal Oak's first non-motorized transportation plan.
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AIDS prevention groups to merge
The Midwest AIDS Prevention Project in Ferndale and the Grand Haven-based Michigan AIDS Fund plan to merge in January.
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Sighting turned teen into more than face in the crowd
Rosie O'Donnell spotted Cass Tech senior Philip Johnson in a Detroit restaurant.
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Weekend preview: Puppets get bawdy at the Fisher; Rockettes kick it at the Joe
See puppets behaving badly during the hilarious, and very adult, Tony Award-winning Broadway musical "Avenue Q" at the Fisher Theatre.
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Thanksgiving's eve is one of the busiest nights for bars
The night before Thanksgiving is touted as the biggest bar night of the year. Everyone's back home gearing up for Turkey Day and excited to reunite with hometown friends.
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Editorial: Ferndale's University High deserves praise, not attacks
Ferndale's University High School has been an unqualified success at getting students ready for college.
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Ray Blush, left, provides resume assistance at the Job Seekers Networking Group in Brighton.
It's shortly after noon on a crisp Friday and a steady stream of unemployed Metro Detroiters flows in and out of the Michigan Works! Employment and Resource Center in a strip mall on Nine Mile in Ferndale.
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Algonac right to go back to square one
It's always unfortunate to watch things go wrong for people who seemingly are doing everything right.
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Detroit's Death will live again in February
And Death lives on. The rebirth of Death, a Detroit-based garage punk band from the '70s, will occur by way of an album release set for February -- 34 years after it was originally recorded.
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Improv Theater Set to Open in Ferndale
We can all use a good laugh these days, and now a new comedy venue in Ferndale may be just what the doctor ordered.
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Ferndale Students Report Being Followed
The community of Ferndale is on alert after two high school students reported being followed for several blocks by two men on their way to school on Nov.
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Improv theater to open in Ferndale
The new Go Comedy! Improv Theater opens for funny business Wednesday in a former Secretary of State office in Ferndale.
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Saturday soirees are to raise money for Habitat for Humanity of Oakland County
On Saturday afternoon in Rochester, Shaina and Robb Allen will turn their garage into a sports bar, with a tent attached to accommodate 100 people who have RSVP'd for their party and dozens more they don't even ...
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Assistance From The Salvation Army
The Salvation Army Royal Oak Corps is now accepting applications for Thanksgiving and Christmas assistance.
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State House races favor Democrat, incumbents
Democrat Ellen Cogen Lipton will take the 27th District state House seat left vacant by term-limited Andy Meisner.
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Lines don't faze Royal Oak, Ferndale voters turning out for change
An unseasonably warm and bright November morning found Ferndale resident Bob Ivory standing in line outside the Kulick Center Tuesday.
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MDOT to hold public information meetings regarding the Detroit...
MDOT to hold public information meetings regarding the Detroit Intermodal Freight Terminal Study WHAT: The Michigan Department of Transportation is conducting public information meetings at three locations in ...
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Wolfman Mac creeps into Ferndale, Pontiac
You can experience the fuzzy face and bad puns each weekend on 'Wolfman Mac's Nightmare Sinema' TV show.
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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 was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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