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Compare Buying in a Home in a Year with Buying Now and Refinancing Later in the Current Mortgage Landscape

August 28, 2023

5 Weird Reasons You WON’T Get a Mortgage

August 10, 2023

How Many Pieces are In the Loan Jigsaw Puzzle

July 21, 2023

A clear blue pool with a white house behind it, with palm trees and green grass.

Michigan Vacation Property Home Loan Options

June 20, 2023

Are VA Loans Always Best for Veterans?

June 17, 2023

Breaking Down the Ins and Outs of Loan Disclosures

May 20, 2023

Minimum Down Payment for a First-Time Home Loan

April 4, 2023

VA Loan vs. Conventional Loan: What’s the Difference?

March 29, 2023

The Mortgage Landscape After the Recent Banking Scares

March 23, 2023

A driveway and lawn lead up to a beautiful light colored brick house with two garages on the side.

Escrows and Rates in Today’s Current Housing Market

February 24, 2023

13001 23 Mile Road
Suite 101
Shelby Township, MI 48315

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Competitor Rates Methodology

The competitor rates displayed above were provided by Icon Advisory Group, LTD and are updated weekly. The scenario utilized to calculate each mortgage interest rate is for a purchase transaction with a purchase price of $500,000, a loan amount of $300,000, and a credit score of 740+ and a lock term of 30 days. The rates reviewed were for the Detroit Area MSA. The purpose of the interest rate comparison is to illustrate where each company stands competitively when the weekly market snapshot is assessed. Rates change regularly as the broader markets move. The posted rate for Homesite Mortgage has an APR that reflects two discount points (2.0%).

Fixed Rate Conventional Mortgage Assumptions

The loan amount of $325,000 at 70% loan-to-value (LTV) and a 740 or higher credit score. The property type assumes a qualified type of detached housing that is the primary residence. Escrow waivers are available for an additional fee. The APR posted above reflects two discount points (2.0%).

Fixed Rate FHA Mortgage Assumptions

The base loan amount of $325,000 at 96.50% loan-to-value (LTV) and a 740 or higher credit score. The property type assumes a qualified type of detached housing that is the primary residence. The APR posted above reflects two discount points (2.0%).

Fixed Rate VA Mortgage Assumptions

The base loan amount of $475,000 at 100% loan-to-value (LTV) and a 740 or better credit score. The property type assumes a qualified type of detached housing that is the primary residence. The VA funding fee applied assumes it is the Veterans first time use. The APR posted above reflects two discount points (2.0%).

Terms Of Use

When you use this website and/or click on any link within the pages of this website you accept and agree to our terms of use. As part of your acceptance and agreement to our terms of use you hereby consent to allow our employees or affiliates contact you. This contact can include by way of cellular phone, home phone, business phone, email, US mail or whatever contact method that you’ve provided to us. If the telephone number(s) that you’ve provided us is registered on a “Do Not Call Registry” you still expressly consent to having us call you. In addition, you are hereby advised about, and consent to, the sharing of the information you provide to us by way of this website with our referral partners. These referral partners may or may not be legally affiliated with us. We will limit the type of information that we share to our unaffiliated referral partners to only what you provide to us using the fillable forms on this website. You also expressly extend your consent to our referral partners to contact you at the telephone number(s) and email address that you provide to us – even if you have registered your telephone number and/or email address on the “Do Not Call Registry”. Lastly, you agree to allow us to publicly share your first name, state in which you reside, and the purpose of your request for our services. If you wish not to agree to our terms of use for this website you can call us instead at (248) 479-4377 and we will be happy to assist with your mortgage needs.

Disclaimer

Mortgage rates can change as the financial markets change and without notice. Every mortgage scenario has qualifications that apply and receiving an interest rate quote does not in itself mean that you have been qualified or approved for a mortgage loan and does not constitute a mortgage offer. Some restrictions on product offerings may apply. Some mortgage products require more information about the borrowers qualifications or the property type and therefore cannot generate an automated rate quote or preapproval. The interest rate quotes that are generated on this website are calculated on a 30 day rate lock. For loan-to-value (LTV) scenarios that exceed 80% on a conventional loan product private mortgage insurance will be needed. All FHA/USDA and VA loan scenarios require government mortgage insurance or a loan guarantee fee. The refinance rate quotes do not include “cash out” loan scenarios. Lending services are not available in all areas. Virginia residents please note that while a mortgage refinance may reduce your current monthly mortgage payment it may also add additional time to your current term and therefore the total finance charges could be higher. For this reason, among others, we recommend reducing your term as well if possible. Homesite Mortgage, LLC is licensed in Illinois, Michigan, Missouri and Virginia. Our NMLS # is 136037 https://nationwidelicensingsystem.org/about/Pages/NMLSConsumerAccess.aspx. Our Missouri address is 4 Research Park Drive, Suite 140, St. Charles, MO 63304. Our corporate headquarters is located at 13001 23 Mile Road Suite 101, Shelby Township, MI 48315. Our Oak Park, MI office is located at 25900 Greenfield Road, Suite 520, Oak Park, MI 48237.

NMLS # 136037

https://www.nmlsconsumeraccess.org/