Loan Rates
Conventional Fixed Rate Mortgage Loan Rates
| Term | Rate | APR | Monthly Payment Per
$1,000 Financed |
|---|
| 15 Year | 3.000% | 3.193% | $6.91 |
| 20 Year | 3.625% | 3.779% | $5.86 |
| 30 Year | 3.750% | 3.860% | $4.63 |
Bi-weekly Mortgage Loan Rates
| Term | Rate | APR | Monthly Payment Per
$1,000 Financed |
|---|
| 15 Year | 3.375% | 3.475% | $7.68 |
| 20 Year | 4.000% | 4.087% | $6.56 |
| 30 Year | 4.000% | 4.069% | $5.17 |
Adjustable Rate Mortgage Rates
| Term | Rate | APR | Monthly Payment Per
$1,000 Financed |
|---|
| 3/1 ARM | 3.000% | 3.269% | $4.22 - $8.05 |
| 5/1 ARM | 3.625% | 3.464% | $4.56 - $8.50 |
| 7/1 ARM | 3.750% | 3.564% | $4.63 - $8.59 |
Adjustable Rate Mortgages are fixed for the first 3, 5, or 7 years depending on the product and then adjust every year after the initial period. Rate changes are capped at 2% per rate adjustment, not to exceed 6% over the life of the loan. Payments per $1,000 financed will vary between the amounts stated above and are calculated on a 360-month amortization period.
Annual Percentage Rates (APRs) and rates are subject to change without notice. APRs and rates quoted above are based on an $100,000 loan amount with 20% down, superior credit rating, 25-day lock period, and no points. Actual APRs and rates may vary based on credit history and other loan details. All loans are subject to credit approval. Contact Us for details.
Additional mortgage products are available - Contact Us for additional information.
| Maximum Total Loan to Value 90% | |
|---|
| Premier | Prime + .50 - See Product page for additional information. |
| Prime Line | Prime - See Product page for additional information. |
Home Equity Term Loan for Stick Built Homes
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|
| Maximum Total Loan to Value 80% | | | |
| 36 months | 5.00% | 5.355% | $29.97 |
| 60 months | 5.25% | 5.470% | $18.99 |
| 84 months | 5.50% | 5.661% | $14.37 |
| 120 months | 5.75% | 5.867% | $10.98 |
| 180 months | 6.00% | 6.083% | $8.44 |
| Total Loan to Value 81% - 90% | | | |
| 36months | 5.50% | 5.856% | $30.20 |
| 60 months | 5.75% | 5.970% | $19.22 |
| 84 months | 6.00% | 6.262% | $14.61 |
| 120 months | 6.250% | 6.368% | $11.23 |
| | | |
Home Equity Term Loan for Manufactured Homes
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|
| Maximum Total Loan to Value 70% | | | |
| 36 months | 6.75 % | 7.470% | $30.76 |
| 60 months | 7.00% | 7.551% | $19.80 |
| 84 months | 7.25% | 7.699% | $15.22 |
| 120 months | 7.50% | 7.743% | $11.87 |
| Term | Rate | APR | Monthly Payment Per
$1,000 Financed |
|---|
| >$2,500.00 | | | |
| 24 months | 12.750% | 16.610% | $47.42 |
| 36 months | 13.000% | 15.672% | $33.69 |
Cash Secured Loans
| Term | Rate | APR |
|---|
| Up to 60 months | Rate & APR calculated on the greater of the deposit rate plus a 2% margin or prime. Contact us for more information. |
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|
| NEW 2010-2011-2012 Motor Homes - Fifth Wheels - Motorcycles - Boats (rates on website are for new RV's only)
RATES are available for used 2006 - 2010 RV's (call your lender to inquire) | | | |
| >$25,000.00 | | | |
| 60 month term | 6.00% | 6.311% | 30.42 |
| 84 month term | 6.25% | 6.479% | $14.73 |
| New 2010-2011-2012 Campers - Boats - ATVs - Snowmobiles - Trailers (rates on website are for new RV's only)
RATES are available for used 2006 - 2010 RV's (call your lender to inquire) | | | |
| >$5,000.00 - $25,000.00 | | | |
| 24 month term | 6.00% | 6.735% | $44.32 |
| 36 month term | 6.25% | 6.752% | $30.54 |
| 48 month term | 6.50% | 6.884% | $23.72 |
| 60 month term | 6.75% | 7.063% | $19.68 |
| Term | Rate | APR | Monthly Payment Per
$1,000 Financed |
|---|
| 2010-2011-2012 New Auto | | | |
| 36 months | 4.00% | 5.25% | $29.52 |
| 48 months | 4.25% | 5.202% | $22.69 |
| 60 months | 4.50% | 5.272% | $18.64 |
| 2010-2011-2012 New Auto | ($25,000 or greater) | | |
| 72 months | 4.75% | 5.009% | $15.99 |
| 2009-2010 Used Auto | | | |
| 36 months | 5.00% | 6.257% | $29.97 |
| 48 months | 5.250% | 6.210% | $23.14 |
| 60 months | 5.50% | 6.279% | $19.10 |
| 2006-2008 Used Auto | | | |
| 24 months | 5.75% | 7.601% | $44.21 |
| 36 months | 6.00% | 7.265% | $30.42 |
| 48 months | 6.25% | 7.217% | $23.60 |
*Annual Percentage Rates (APRs) and rates are subject to change without notice. APRs and rates listed are for First Federal of Northern Michigan customers with multiple deposit or loan relationships. Actual APRs and rates may vary based on credit history and other loan details. All loans are subject to credit approval. Contact Us for details.
