Most people approach a home loan the way they approach a menu they don’t fully understand — they pick something familiar, common, trusted, and hope for the best. This week’s Border 2 Border presenter Jeremy Shaffer of Lake Michigan Credit Union doesn’t see anything egregiously wrong with this, but believes it often misses out on borrower potential.

For yesterday’s presentation Jeremy didn’t come with a sales pitch. He came with a personal tool he has had in his back pocket for years — a model that maps the relationship between every major consumer variable in a home loan: purchase price, interest rate, term length, and overpayment. Adjust one lever, and everything else shifts. His point wasn’t to dazzle with math. It was to show that a mortgage is far more flexible than most buyers ever realize.

A few of the ideas that reframe how you might think about your own situation:

The 20-year term. Jeremy makes a compelling case for it as an alternative to the standard 30-year — shorter than most expect to commit to, longer than the aggressive 15-year, and significantly cheaper in total interest paid over time.

Refinancing smarter. When rates drop, most people refinance to lower their monthly payment. Jeremy flips the script: keep the payment the same, apply the difference to principal, and save substantially on total interest over the life of the loan.

One extra payment per year. That’s it. One. Applied to a 30-year mortgage, that single habit can eliminate four to six years of payments.

Short-term in Washtenaw County? If you’re staying fewer than three years, an adjustable rate may actually serve you better. Rates tend to cycle every two to four years, and the refinancing opportunities often arise in good time for those who plan ahead.

Buying vs. waiting. For anyone on the fence — at a current benchmark of around 6.25% on a $550K purchase — Jeremy’s position is clear: if you’re staying more than three years, buy. The current math supports it.

What makes this valuable isn’t just the information. It’s the willingness to sit down, run the numbers honestly, and help someone engineer a solution that fits their actual life — not just the loan that’s easiest to close.

If you’ve been telling yourself you’re not in the market for a home loan, it might be worth having one conversation with Jeremy Shaffer at Lake Michigan Credit Union before you decide that. The numbers might surprise you.

And if you haven’t yet made it to a Wednesday morning Border 2 Border meeting, this is exactly the kind of practical, no-fluff expertise the group brings every week. We’d love to have you join us next week at 7am.