Short-term savings with long-range possibilities
- MSGCU offers a five-year Adjustable-Rate Mortgage with payments amortized for 30 years
- Initial interest rate of 4.625% remains in place for five years, and then adjusts annually
- For a limited time, get up to $825 off of closing costs*
- Ideal for borrowers looking for short-term financing
- No prepayment penalty
If you're looking for a low-cost, short-term mortgage but want the flexibility to keep the loan longer, a Michigan Schools and Government Credit Union ARM might be right for you. It's important to know that Adjustable-Rate Mortgages have caps that protect you from big increases in interest rates. For more information, contact our Mortgage Experts.
*The up to $825 incentive includes: 1) waiver of $450 underwriting fee for all mortgages applied for between 6/1/2018 and 10/31/2018 and 2) coupon toward a free appraisal (up to $375) when attending a free Homebuyers Workshop prior to closing. Appraisal coupon credit will be applied at the time of closing. To register for an upcoming Homebuyers Workshop, visit msgcu.org/homebuyers.