Skip to Content
Michael Bartels

Michael Bartels

Mortgage Loan Originator

NMLS ID#162450
Office Phone: 616-228-6095
Cell Phone: 616-308-0928

Old National Bank

5200 Cascade Road SE
Grand Rapids, MI

About Michael

Michael brings over fourteen years of mortgage industry experience to his clients at Old National Bank. He holds a business administration degree from Cornerstone University and now specializes in all aspects of consumer mortgages including FHA, VA, Conventional and Construction lending. His passion for working with people and his love for teamwork are a perfect fit for helping people find the perfect mortgage option. He genuinely enjoys helping his clients make some of the most important decisions of their lives and considers it a blessing and privilege to do so. Working closely with realtors and homebuyers to make the process enjoyable and stress free is both challenging and enjoyable. The excitement from first-time home buyers is contagious and gives Michael a tremendous sense of satisfaction. He also considers repeat business and referrals to be the highest compliment a client can give as his clients come back to purchase a larger home or a cottage. Michael loves to travel and enjoys playing golf on a regular basis. In the community, he is active with Junior Achievement and enjoys coaching baseball and basketball.

Current Mortgage Rates

Conventional
Term Rate APR
30 Year Fixed 4.625% 4.999%
15 Year Fixed 4.125% 4.331%
The above rate is based off of the following assumptions for your Conventional Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount of $230,000
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 06/22/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Originator for specific, customized pricing for your financial situation.

Construction
Term Rate APR
Construction 30yr 4.500% 4.540%
Construction 15yr 4.000% 4.069%
The above rate is based off of the following assumptions for your Construction Loan:
  • Credit score 700 or higher
  • LTV 80% (20% down payment)
  • Loan amount up to $1,000,000
  • $1,000 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 06/22/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Originator for specific, customized pricing for your financial situation.

Jumbo
Term Rate APR
Jumbo 30 Year 4.375% 4.382%
The above rate is based off of the following assumptions for your Jumbo Loan:
  • Credit score 740 or higher
  • LTV 80% (20% down payment)
  • Loan amount $453,101 to $1,000,000
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 06/22/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Originator for specific, customized pricing for your financial situation.

ARM
Term Rate APR
5/1 ARM 3.875% 4.724%
The above rate is based off of the following assumptions for your Conventional ARM Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount up to $453,100
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply

Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 06/22/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Originator for specific, customized pricing for your financial situation.

On a $230,000, 5-1 ARM amortized over 20 years with an initial interest rate of 4.625% with an annual percentage rate of 4.451%, after fixed-period of 5 years the rate may increase annually; individual adjustments are capped at 2% first, 2% subsequent and rate can never increase by more than the lifetime cap of 5%. A payment example would be as follows based on a fully-capped interest rate of the loan: Years 1-5 at 4.625% rate with a payment of $511.53, Year 6 at 6.625% rate with a payment of $582, Year 7 at 8.625% rate with a payment of $654 and Years 8-20 at 9.625% rate with a payment of $689. The monthly payment may change when the interest rate on an adjustable rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase annually according to the market index. Current index (LIBOR 12 month) as of October 25, 2017 is 1.835%. The current index plus Margin rounded to the nearest 0.125 is 4.125%. Any change may significantly impact your monthly payment.


FHA
Term Rate APR
FHA 30 Year 4.500% 5.655%
The above rate is based off of the following assumptions for your FHA Loan:
  • Credit score 640 or higher
  • LTV 96.5% (3.5% down payment)
  • Loan amount of $170,000
  • $800 origination fee and $6.70 flood certification fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 06/22/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Originator for specific, customized pricing for your financial situation.

Back to top