At Bank of Ann Arbor Mortgage Co. LLC, you have local access to the mortgage services, competitive rates and expertise you need. Whether purchasing or refinancing your primary residence or vacation home, you'll find working with us is easy.
Fixed rate mortgages offer the certainty of a fixed payment and interest rate over the life of the loan. Terms available: 10, 15, 20 and 30 years.
Adjustable Rate mortgages provide for low rate initially that later adjusts yearly for the remainder of the term. Terms available: 1, 3, 5 or 7 years (interest rate fixed for first set number of years then is adjusted annually for the remaining years of the term).
Balloon Mortgages provides for a low monthly payment and helps individuals who have shorter term housing goals. Terms available: 3, 5, 7 years.
Jumbo mortgages are available for home loans of $417,000 or greater at competitive prices.
Bridge loans can provide you with up to 90% of the appraised value of your current home as short-term financing on a new home.
Combination loans have become a popular option for home owners who want financing for more than 80% of the home's value. A first mortgage finances 80% of the value of the home with the second mortgage (often a home equity loan) covering the balance of the purchase amount. This eliminates the need for private mortgage insurance (PMI), saving you money.
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