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Michigan Home Equity Rates
Michigan homeowners can find competitive home equity rates for fixed rate loans or variable lines of credit with reduced cost incentives. Nationwide offers lump-sum home equity and second mortgage loans for cash-out refinancing. Borrowers can choose from fixed rate or interest only payment options. Revolving credit lines are also available with adjustable interest rate terms. We offer premium loans to motor city residents seeking cash or simple rate and term refinancing.
Check out our wide variety of mortgage refinancing programs for homeowners who need to access money, but prefer not to pay off their existing mortgage in the process.
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Michigan homeowners save money with low cost
home equity loans for bill consolidation and
home improvement financing. |
In 2007, home equity loans have become the most popular financing type of subordinate loans for Michigan homeowners. Most borrowers are migrating towards fixed rates because they are lower than the adjustable rate home equity loans. Borrowers are using their home equity to install new swimming pools, remodeling the kitchen and of course to consolidate high rate credit.
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| Don't wait any longer, Call 1-800-242-6986 to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation. |
Maybe you recently purchased a new home in Lansing or Detroit and need some quick cash for landscaping or to buy to furniture. Nationwide offers subordinate loans for purchase or refinance. We help first time homebuyers with 100% financing and 125% second mortgages.
Our loan team will help you finance new furniture, house improvements and they will show you a solution for consolidating high interest credit card debt. Nationwide offers many fixed rate solutions, that don't require you to refinance your first home loan. We offer competitive 2nd mortgages that will aid you in reducing your monthly expenses while returning you with significant savings.
Wouldn't you like to put more money in your pocket each month? Many of our home loan and refinance programs were created so people with less than perfect credit, can pay off debts, make improvements to their home, and offer access to additional funds for a multitude of reasons. |
Relevant Michigan Facts:
Great Lake Homeowners |
Average home value for owner occupied primary residence, 2000: $115,600
Homeownership rate, 2000: 73.8%
Average household income, 1999: $44,667
Population, 2004 estimate: 10,112,620
% of people living in same home for 5+ years, 2000: 57.3%
Average commute time from home to work (minutes), 2000: 24.1
Click Here for More Michigan Loan Info
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* Loan terms are state and federal fee restrictions. Laws may vary per state.
Data source census.gov |
By Nick Rian
 Michigan home sales shot upward almost doubled, during the first and second quarter of 2006. But July shows a slump for the first time in six months. The drop in sales could stem from the rising prime interest rate.
The Federal Reserve has spiked the interest rate almost one point since the beginning of 2006. The higher rate usually fights inflation. In some markets, the higher rate slows sales and forces home owners to drop prices. Not so in Michigan. Home prices in the state did drop during the first quarter from $143,973 to $141,502. But then, a turn around. Second quarter statistics show home prices jumping from $145,590 to $148,840. And the jump in sales prices isn't slowing sales. Michigan sold almost 25,000 homes during the first quarter of 2006. The second quarter shows 34,074 home sold an almost 10,000 point gain.
But July's figures show the rising interest rate fighting inflation, at least not in the real estate market. Home average sale's prices kept climbing from $148,840 to $149,994 during the month of July. The seller's market in Michigan might actually turn ugly as interest rates continue to climb. Home sales during the month of July dropped almost 2,000 points.
Before the rates get too high, Apply for a Fixed Rate Home Equity Loan. Stay online and complete one simple form and one of our experienced loan professionals will follow up with you shortly.
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