Somerset Investors Corp. Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

Grand Marais, MI Mortgage Refinance in Michigan

We make it easy to get the lowest mortgage refinance interest rate in Grand Marais, MI.

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Grand Marais, 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 Grand Marais, 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 Grand Marais, 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.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 
Return to mortgage refinance in the state of MI

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

Grand Marais, Michigan News
All the Trimmings

Local artisan Kris Miller says she has been driven by three lasting passions - a fascination for textiles, the desire to learn the skills of years-gone-by, and a love for animals.


Tips for the new economy - let's all live in pickle barrels

Worried about losing your job or even your house in the current downturn? Stop sweating! If worse comes to worse, we can all live in barrels, like this unique house in Grand Marais, Michigan.


The art of ale

Greg Gerding says he was "baptized" in 1995 - but it wasn't the kind of religious baptism that most people think of when they hear the word.


Tonight on TV6 Saturday

Here's a look at what we're working on for tonight's news. Saturday, October 04, 2008 at 4:06 p.m. Fall is here, and that mean's its time to celebrate.A The Fayette Historic State Park is hosting their annual ...


Au Sable Day and Public Lands Day 2008

On Saturday, September 27, Pictured Rocks National Lakeshore will host the annual "Au Sable Day" at the historic 1874 Au Sable Light station near Grand Marais.


...tell me more

Fox Creek Questers Fox Creek Questers No. 216 begins its fall season at the home of Mary Steiger at 12:30 p.m. Thursday, Sept.


Hard (but fun) hardscaping questions

Posted on August 28th, 2008 9:43 AM By Robyn Dochterman Concrete blocks, fire bricks, big boulders.


Carl Welser: 'You are my mark in the world'

Grandson Karl Christopher, age 8, practically wrote part of these words for me. At least he inspired them, however unwittingly.


Lake Superior's disappearing harbour

Grand Marais harbour is filling up with sand and silt, endangering the village's tourism industry, The Detroit News reports.


West Bay Diner postcard [Flickr]

The other side says: West Bay Diner, Grand Marais, Michigan - This rare 26-seat 1949 Paramount "Road King" diner car is the former Matamoras diner from the Pocono Mountains of eastern Pennsylvania.


MDOT to present $1 million in Local Jobs Today funding to Alger...

July 31, 2008 -- Paving of H-58 between Grand Marais and Munising will continue this summer, thanks in part to a $1 million Local Jobs Today check to be presented Tuesday, Aug.


...tell me more

Petunias in white created the 18th century Jasperware plaque by the Grosse Pointe Farm and Garden Club.


Walter George Hampton

Walter George Hampton, age 94, of Howell, went to be with the Lord on July 28, 2008, following a brief illness.


H-58 construction

The Alger County Road Commission is set to pave H-58. The route runs through the Pictured Rocks National Lakeshore, connecting Munising to Grand Marais.


H-58 construction

The Alger County Road Commission is set to pave H-58. The route runs through the Pictured Rocks National Lakeshore, connecting Munising to Grand Marais.


Grand Marais Fly-In

For most pilots, flying high in the sky is where they want to be. And with fly-ins at various Michigan airports throughout the Summer, many are touching down in the U.P. Saturday, Grand Marais hosted it's ...


Famed MSU writers headline 'homecoming'

When Jim Harrison returns to campus Thursday, he knows the vibe will be different than during his years at Michigan State University in the early 1960s.


Fund-raiser set for park

Organizers are preparing for a fund-raiser to help benefit a new park in Grand Marais.


Your Pets - Skyah Marais Key

Skyah Marais Key is a 112-year-old shih tzu who lives in Holland. Skyah means "sky cloud" and represents life, beauty, strength and love.


Detroit Mayor Kwame Kilpatrick hurting business

Detroit Mayor Kwame Kilpatrick's text-messaging escapades already have tarnished the image of the city and Michigan.


Save time with our easy online mortgage application.
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
 
"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.
© 2006 Somerset Investors Corp. All rights reserved.
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)