Mortgage Document Checklist, Michigan Mortgage, Mortgage Refinance

Michigan Mortgage Options...

	Conventional	FHA	Rural Housing	VA

Minimum Down Payment	10%	3.5%	0%	0%

Pre-Payment Penalty	No	No	No	No

Fixed or Adjustable Rate (ARM)	Both Available	Both Available	Fixed	Both Available

Private Mortgage Insurance (PMI)	Yes, With Down Payments Less Than 20%	Yes, Lower Than Conventional	No	No

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