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Mainstreet Mortgage, Inc.
2100 E Maple Road, Ste 400 Birmingham, MI 48009 Ph (248) 649-6304
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| Conforming Fixed Rate Mortgages |
| FHA Mortgages |
| Jumbo Loan Mortgages |
| Conforming Adjustable Rate Mortgages (1yr, 3yr, 5yr, 7yr, 10yr) ARM |
| Bruised Credit Mortgages |
| Zero Cost Loans |
Rates last updated on Wednesday, April 02, 2008
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Conforming Fixed Rate Mortgages
Fixed rate mortgages are available in 40, 30, 25, 20,15 and 10 year terms.
Maximum Amount: $417,000
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| | A fixed rate mortgage offers an interest rate that is fixed for the life of the loan. A shorter term will build equity more quickly and you will pay less interest overall, while a longer term loan will have a lower montly payment. |
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FHA Mortgages
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Jumbo Loan Mortgages
Mortgages with a loan amount over $417,000. Jumbo loans are available in both Fixed and Adjustable Rates mortgage products.
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Conforming Adjustable Rate Mortgages (1yr, 3yr, 5yr, 7yr, 10yr) ARM
Your interest rate will adjust on a preset schedule according to market conditions. Rate increases are capped both on APR adjustment and lifetime basis. Initial ARM rates usually are discounted below market rates and may help you qualify for the financing you need.
Maximum Amount: $417,000
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Bruised Credit Mortgages
These are mortgages tailored for individuals who may have past or current credit issues. Mainstreet Mortgage offers morgage programs for new purchses and refinances for borrowers with less then perfect credit.
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Zero Cost Loans
Zero cost loans are available for the borrower(s) looking to purchase or refinance their mortgage without closing costs. The borrower is still responsible for escrows and prepaid items.
*Market conditions play a factor as well as the mortgage amount when considering a Zero Cost Loan.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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