Rate assumptions

Interest rate and Annual Percentage Rate (APR) as of May 26, 2023. APR and example payments are based on a purchase transaction of an owner-occupied single family residence in Grand Rapids, Michigan with a loan amount of $150,000, credit score of 740, down payment of 25% with tax and insurance escrows. Base APR is quoted and may vary depending on individual credit history and transaction. All mortgages are subject to credit review and approval. Rates subject to change without notice.

30 Year Fixed: Requires 360 monthly principal and interest payments of $1061.69 with 0.434 points. Payment does not include taxes and insurance premiums. The actual payment amount will be greater.

15 Year Fixed: Requires 180 monthly principal and interest payments of $1296.38 with 2.339 points. Payment does not include taxes and insurance premiums. The actual payment amount will be greater.

Construction 30 Year Fixed: Requires 12 monthly interest only payments during the construction phase, followed by 348 monthly principal and interest payments of $1071.33 with 1.629 points after the construction phase. Payment does not include taxes and insurance premiums. The actual payment amount will be greater.

5 Year Adjustable Rate: Requires 60 monthly principal and interest payments of $935.80 with 3.640 points. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. After the initial 5 years, the Annual Percentage Rate and payment amount are variable and can increase or decrease twice every year for the remaining life of the loan.