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Routing Number: 272479663 Swift Code: MSUCUS44
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Save Money with a Mortgage Rate Modification
If you're looking to lower your rate and possibly shorten the term of your loan, a mortgage rate modification may suit your needs.

• Lower your rate
• $1,000 or 1% of your outstanding principal balance -
whichever is less.
• Option to shorten term
• Minimal documentation required
• 3-5 business days to complete the process

Interested in a Mortgage Rate Modification?
Contact the mortgage servicing department at:
517-333-2424 ext. 2610
Modification Program
The fee to modify your mortgage rate is only $1,000 or 1% of the outstanding principal balance.
Lower Your Mortgage
Rate Quickly
MSUFCU's Mortgage Rate Modification lowers your mortgage rate and takes less than five business days.
Shorten Your
Loan Term
Pay off your mortgage faster by changing the term of your mortgage.
Should I consider a mortgage rate modification if current rates are lower than what I have now?
You may want to consider a mortgage rate modification if current mortgage rates are lower than what you pay now. Your payment may be considerably lower, you'll pay less interest, and you'll pay more off your principal each month. Another option is to consider choosing a shorter term. Your payment may or may not decrease, but you could possibly reduce years of payments -- saving that amount in interest payments would most likely be significant, plus paying off your mortgage much sooner could be a relief. The mortgage rate modification is also very quick and easy to complete.
How much does a mortgage rate modification cost?
The cost of a mortgage rate modification is $1,000 or 1% of the outstanding principal balance. For example, if you owe $75,000, the cost would be $750. If you owe more than $100,000, you would not pay more than $1,000 for a mortgage rate modification. Likewise, if you were modifying a $200,000 mortgage, the fee would only be $1,000.
Can I extend the term of my mortgage with a mortgage rate modification?
No, though you can opt for a shorter term. For example, you have a 30-year mortgage and have paid for 7 years. You could continue with the original 30-year term, with a lower rate for the next 23 years. Or, you can choose to decrease your term to a 10-, 15-, or 20-year mortgage at the lower rate.
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