MSGCU : Home Equity Loans

With MSGCU, you can!

Interest Only Mortgages allow you to make interest-only payments during the initial period of the loan. However, you can pay down the principal at any time during the interest-only period to build equity faster. Call our mortgage loan staff at 586.263.8800, option 4 for further details.

Benefits

Lower monthly payment during the interest only period
Stability of a fixed interest rate for 30 years
Savings could be used to furnish your new home
You have the right to apply the principal payments at any time without penalty to build equity in your home
Low closing costs mean more money in your pocket

Interest Only Mortgages
Term	Rates as low as	Points	APR*
30 Year Fixed	6.125%	0.25%	6.152%
3/1 ARM	4.250%	0.25%	6.774%
5/1 ARM	5.000%	0.25%	6.663%
7/1 ARM	5.250%	0.25%	6.532%

Example: A loan amount of $150,000 at 5.000% on a 5/1 Adjustable Rate Mortgage would have an interest-only payment of $625.00 can adjust a maximum of 2%, up or down, and the loan payment converts to principal.

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* Annual Percentage Rate
** Consult your tax advisor regarding deductibility

Routing number: 272480173

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