BEST MICHIGAN MORTGAGE LENDERS September 2023
Do you aspire to call Michigan home? In this article, we will be listing the best Michigan mortgage lenders. As a borrow consider the following first before finding the best mortgage lender;
- Check your finances
- Determine your budget
- Know your mortgage options
- Compare rates and terms from many lenders
- Have an approval for mortgage
- Read the print well
Michigan is one of the best places to put down roots. Michigan has regions with high costs of houses and other regions with low costs of houses. As stated by the U.S. Census Bureau, Michigan has about 4.6 million housing units and a homeownership rate of 74.3%. Michigan has a median house value of about $244,000 which is below the national median value of $404,700.
Best Michigan Mortgage Lenders September 2023
1.Homefinity;- Homefinity has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.
2.Caliber Home Loans;- Caliber home loans have a minimum down payment of 3% and a minimum credit score of 620.
3.Carrington Mortgage;– Carrington Mortgage has a minimum down payment of 3% and a minimum credit score of 620.
4.PenFed Credit Union;– PenFed Credit Union has a minimum down payment of 0% for VA loan and minimum credit score of 620.
5.Truist Bank;– Truist Bank has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.
6.Chase;– Chase has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.
7.Lower.com ;- Lower.com has a minimum down payment of 3% and a minimum credit score of 620.
8.AmeriSave;- AmeriSave has a minimum down payment of 3% and a minimum credit score of 620.
9.Veterans United Home Loan;– Veterans United Home Loan has a minimum down payment of 3% and minimum credit score of 620.
10.PNC;– PNC has a minimum down payment of 3% and a minimum credit score of 620.
Review of the best Michigan mortgage lenders September 2023
1.Homefinity – Best for online application and Approval
2.Caliber Home Loans – Best for online service
3.Carrington Mortgage – Best for borrowers with bad credit
4.PenFed Credit Union – Best for lender credit and no lender fee
5.Truist Bank – Best for client relations
6.Chase – Best for low costs
7.Lower.com – Best for borrowers who prefer digital home lending
8.AmeriSave – Best for mortgage variety
9.Veterans United Home Loan – Best for Veterans Affairs loans
10.PNC – Best for low down-payment
- The mortgage rate in Michigan is 2.89% on average for 30 years fixed rate. Home interest rates range from 2.5% to 3.63%.
Other Mortgage Lenders in Michigan September 2023
- PrimeLending – best for digital customer care
- Real Genius – best for online application
- New American Funding – best for low APR
- Sofi – best for online service
- CMG Financial – best for first-time borrowers who want to crowd-fund their down payment.
- Freedom Mortgage – best for product availability
- LoanDepot – best for a digital-first mortgage
- Alliant Credit Union – best for no down payment
- Rocket Mortgage – best for customer service
- Navy Federal Credit Union – best for low-interest Veterans Affairs loans
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