InterLake Mortgage Company

InterLake Mortgage Company is a Michigan discount mortgage lender.
While this site is designed to be usable in a variety of ways, the heart of the site is the online application (apply online) that helps you find loans geared to your personal needs.

After you respond to a series of easy questions. See Apply Today

Inter-Lake Mortgage Company, LLC will contact you shortly after you fill out the simple mortgage application to gather additional information so we can provide more precise selection for you.

Comparing these suggested loan choices, you can do the following - all with no obligation on your part:

Receive a free pre-approval letter.

Your interest rate and closing costs

Who can answer questions not addressed here?
We welcome questions you may have, even if you are working with another company and “not always getting a straight answer”. We are always willing to find the answer and even put in writing. We are always online, Email at Rommie.Bailey@Inter-Lake-Lending.com or call (616) 301-1811.

Do I need to be ready to apply for a loan now?
No. Though this site is designed to let you step easily through the process of finding your home loan in one sitting, feel free to use this site in the ways that best fits your present situation.

Although we hope you will choose to apply for a loan with us. You are under no obligation to do so. Use of this site does not prevent you from using other mortgage brokers or lenders in your search for a mortgage loan.

What types of mortgage loans are available through this site?
We offer the following loan programs for both purchases and refinances:

Conventional Mortgage Programs:

• Conforming
• Non-conforming

Fixed-Rate Programs:

• 30-year fixed rate
• 20-year fixed rate

Adjustable-Rate (ARM) Programs:

• 10 year ARM
• 7/1 year ARM
• 5/1 year ARM
• 3/1 year ARM

Balloon Programs:

• 7-year balloon
• 5-year balloon

Other Loans:

• Second Mortgage Loans
• Home Equity Loans

What is the difference between a mortgage broker and a direct lender?
A mortgage broker is an independent mortgage company working for your benefit. Inter-Lake Mortgage Company, LLC received wholesale pricing from lenders and have a large variety to choose from, this includes competing interest rates, lower closing costs, and customize to your mortgage needs. As to direct lenders, you are working with a retail loan officer (salary, commission, and benefits) that presents the lender with a lot of overhead to employ their loan officers. The secondary marketing department will send out daily wholesale pricing (to brokers) and retail pricing (their loan officers). It is much less costly to buy from a mortgage broker than it is to maintain an employee, with no production guarantee.

What is the difference between interest rate & APR?

An Interest rate is the monthly cost you pay on the unpaid balance of your home loan.

An Annual Percentage Rate (APR) includes both your interest rate and any additional cost or prepaid finance charges such as the origination fee, points, the initial private mortgage insurance, underwriting and processing fees. (Your actual fees may not include all of the items above.) The APR is an universal measurement that will assist you in comparing the cost of mortgage loans offered by different mortgage lenders.