Top 10 Mortgage Lenders in Michigan for Your First Property

Best Mortgage Lenders in Michigan: Featured Image

The process of purchasing a home makes for a thrilling experience, but it comes with the responsibility of making key decisions, including selecting the best mortgage lender. The secret to a seamless home acquisition process is finding a lender who will work closely with you to reach your financial objectives. But how do you choose among all the best mortgage lenders providing services in Michigan?

It’s true. Different lenders offer different mortgage products and incentives. This article presents a comprehensive list of mortgage lenders providing services in Michigan for you to find the best offer specific to your circumstances.

10 Best Mortgage Lenders in Michigan for Your Next Property Purchase

1. Lake Michigan Credit Union

Best Mortgage Lenders in Michigan: Lake Michigan Credit Union
Lake Michigan Credit Union Facebook post
ServicesConventional, jumbo, FHA, VA, USDA, home equity/HELOC, and refinance
Location5540 Glenwood Hills Pkwy SE, Grand Rapids, MI 49512, United States
Operation HoursMonday – Friday (8.00 AM – 9.00 PM), Saturday (9.00 AM – 1.00 PM),
Sunday (Closed)
Phone+1 616-242-9790
Email[email protected]

Lake Michigan Credit Union was established in 1933 to give back to its members through higher savings and reduced borrowing costs. In addition to its conventional loans, it also provides specialist loans, such as mortgages for doctors, teachers, CPAs, bankers, architects, first responders, military personnel, public servants, and more.

Lake Michigan Credit Union can be a terrific option if you’re seeking a lender to help you attain your new housing goals under several circumstances. To begin your journey with Lake Michigan Credit Union, submit an online loan application or speak with a loan officer.

2. LendingTree

Best Mortgage Lenders in Michigan: LendingTree
LendingTree official website
ServicesConventional, jumbo, FHA, VA, USDA, home equity, HELOC, reverse, and refinance
Location1415 Vantage Park Drive, Suite 700, Charlotte, NC 28203, United States
Operation HoursMonday – Thursday (8.00 AM – 9.00 PM)
Friday (8.00 AM – 8.00 PM),
Saturday (10.00 AM – 7.00 PM)
Sunday (Closed)
Phone+1 800-505-7916
Email[email protected]

LendingTree might be a suitable option if you are looking for several quotations. It is a free third-party service that connects you to lenders from its database of over 1,500 partners countrywide. As a result, the service saves you the tedious process of researching and contacting lenders individually.

Based on the information you supply through phone or an application form, the lenders who best fit your requirements will reach out to you. The company vouches for the ability of its customers to get better rates through LendingTree than they would on their own. After all, there is an abundance of lenders vying for your business.

LendingTree is available in all states.

3. Arbor Financial Credit Union

Best Mortgage Lenders in Michigan: Arbor Financial Credit Union
Arbor Financial Credit Union Facebook post
ServicesConventional, jumbo, FHA, VA, Home Equity/HELOC, and refinance
Location1551 S 9th St, Kalamazoo, MI 49009, United States
Operation HoursMonday – Friday (9.00 AM – 5.00 PM), Saturday (9.00 AM – 12.00 PM),
Sunday (Closed)
Phone+1 269-375-6702
Email[email protected]

Arbor Financial Credit Union strives to offer financial services to companies and families from all walks of life within Michigan. According to its website, the credit union has some of the finest refinance rates and terms found in Michigan since its establishment in 1935.

The credit union provides a range of loans, including FHA and construction loans, mortgages with 3% down, mortgages for lots, jumbo and bridge loans, and financing for doctors. Their services cater to those who live or work in Michigan, making it a convenient option to get a mortgage or refinance loan.

4. Rocket Mortgage

Best Mortgage Lenders in Michigan: Rocket Mortgage
Rocket Mortgage online mortgage lender refinance
ServicesConventional, jumbo, FHA, VA, and refinance
Location1050 Woodward Avenue Detroit, MI 48226, United States
Operation HoursMonday – Friday (7.00 AM – 12.00 AM), Saturday (9.00 AM – 8.00 PM),
Sunday (9.00 AM – 7.00 PM)
Phone+1 888-452-8179
Email[email protected]

Rocket Mortgage, Quicken Loans’ online mortgage division, was founded in 2016. Unlike traditional lenders, Rocket Mortgage is open every day of the week. As such, you can apply for a loan and lock in a rate without consulting a loan officer unless necessary.

You may apply for a mortgage or refinance loan, monitor the status of your application, and receive updates all in one location with the Rocket Mortgage digital interface. Rocket Mortgage offers electronic asset and credit verification services to streamline further and expedite the loan application process.

5. Mr. Cooper

Best Mortgage Lenders in Michigan: Mr. Cooper Logo
Mr. Cooper Facebook Post
ServicesConventional, jumbo, FHA, VA, and refinance
Location8950 Cypress Waters Blvd, Coppell, TX 75019, United States
Operation HoursMonday – Thursday (7.00 AM – 8.00 PM)
Friday (7.00 AM – 7.00 PM)
Saturday (8.00 AM – 12.00 PM)
Sunday (Closed)
Phone+1 833-685-2565
Email[email protected]

If you are seeking a lender who is less stringent about credit scores, Mr. Cooper might be your best bet at getting a mortgage. Mr. Cooper, formerly Nationstar Mortgage, provides a user-friendly mobile app that enables loan tracking and guarantees that the transaction will close on schedule.

Despite not having the lowest mortgage rates among the Michigan lenders we’ve reviewed, Mr. Cooper offers an extensive range of loans. Additionally, it participates in government initiatives, including the Hardest Hit Fund and the Servicemembers Civil Relief Act (SCRA), to assist homebuyers.

Mr. Cooper is available in all states.

6. AmeriSave

Best Mortgage Lenders in Michigan: AmeriSave Logo
AmeriSave Facebook post
ServicesConventional, jumbo, FHA, VA, USDA, and refinance
LocationPiedmont Center 3525 Piedmont Road NE, 8 Piedmont Center Suite 600,
Atlanta, GA 30305, United States
Operation HoursMonday – Friday (8.00 AM – 5.00 PM), Saturday – Sunday (Closed)
Phone+1 888-700-4026
Email[email protected]

AmeriSave is a mortgage lender that operates entirely online. AmeriSave is the better choice if you’re looking to refinance because it offers a variety of home loans with the intent of assisting homeowners. An added advantage is that they have some of the Michigan lenders’ lowest refinance rates.

The most recent refinance rates are available on their website. You can view your potential mortgage rates and obtain pre-qualification without submitting a Social Security number or doing a hard credit pull.

AmeriSave is available in all states except New York.

7. Synergy One Lending

Best Mortgage Lenders in Michigan: Synergy One Lending Logo
Synergy One Lending Partners
ServicesConventional, jumbo, FHA, VA, USDA, reverse, and refinance
Location3131 Camino Del Rio N #150, San Diego, CA 92108, United States
Operation HoursMonday – Friday (8.00 AM – 4.30 PM), Saturday – Sunday (Closed)
Phone+1 888-995-1256
Email[email protected]

Although not all lenders receive high rankings for customer service, Synergy One Lending stands out from the competition. Hundreds of the company’s clients have raved about its loan officers’ knowledge, communication, and customer service.

The Modern Mortgage Experience at Synergy One aspires to combine the best human resources with cutting-edge technology to produce a seamless, client-focused process. When prepared, you can utilize the S1 Connect app or submit an online application for a house or refinance loan.

Synergy One Lending’s services are open to Michiganders.

8. Sage Mortgage

Best Mortgage Lenders in Michigan: Sage Mortgage Logo
Sage Mortgage Website
ServicesConventional, jumbo, FHA, VA, USDA, and refinance
Location1091 Red Ventures Drive Suite 200, Fort Mill, SC 29707, United States
Operation HoursMonday – Friday (8.00 AM – 8.00 PM), Saturday (10.00 AM – 4.00 PM), Sunday (Closed)
Phone+1 877-219-6115
Email[email protected]

Sage Mortgage is a virtual-based mortgage company founded in 2020. It prides itself on underwriting loans while collaborating with numerous lenders to find the loan that best suits your requirements. Working with their affiliated lenders allows Sage Mortgage to offer viable refinance rates to compare and identify loans for you at the lowest rate and costs.

Sage Mortgage simplifies the application process by allowing you to submit your particulars through Bankrate, an associate firm, or directly through Sage Mortgage’s official site. A loan officer will then be designated to you to expedite reaching your desired outcome. Furthermore, Sage Mortgage can get you pre-qualified in three minutes, followed by a pre-approval within one to two days.

Sage Mortgage is licensed to operate in Michigan.

9. Homefinity

Best Mortgage Lenders in Michigan: Homefinity Logo
Homefinity Facebook post
ServicesConventional, jumbo, FHA, VA, USDA, and refinance
Location563 Carter Ct Unit A, Kimberly, WI 54136, United States
Operation HoursMonday – Saturday (8.00 AM – 6.00 PM), Sunday (Closed)
Phone+1 844-940-1682
Email[email protected]

Homefinity is an online mortgage lender that began operations in 2018 as a subsidiary of its parent company, Fairway Independent Mortgage Corporation. Owing to their technology, Homefinity guarantees applicants almost instant pre-approval and the ability to apply for a loan in under 10 minutes through their Homefinity Xpress mobile app.

Homefinity works with highly skilled and experienced consultants across the country to guide you through your property investment. Their consultants are responsible for securing your best-customized rates through tried-and-true analytical knowledge and astute recommendations.

Homefinity is available in all states except New York and Nevada.

10. Better Mortgage

Mortgage Lenders in Michigan: Better Mortgage
Better Mortgage Facebook post
ServicesConventional, jumbo, FHA, VA, HELOC, and refinance
Location3 WTC, 175 Greenwich Street, Floor 57, New York, NY 10007, United States
Operation HoursMonday – Sunday (Open 24 Hours)
Phone+1 415-523-8837
Email[email protected]

Founded in 2016, Better Mortgage, commonly referred to as Better Mortgage, is a reliable mortgage lender offering an online experience with rates, loan pre-approvals, and resources available around-the-clock. According to Bankrate, Better Mortgage offers no-fee mortgages and lower rates than Bankrate’s average.

As an added benefit, Better Mortgage is a platform that grants potential homeowners to submit cash offers within specific markets. The prerequisite to initiating this process is obtaining a pre-approval mortgage with Better Mortgage. Once the mortgage has been underwritten, you will work closely with a realtor to make an all-cash offer.

Better Mortgage is available in all states.

Choose the Best Mortgage Lenders Serving in Michigan Today!

The amount you pay throughout the loan can vary, even with minor upfront interest rate savings. While you browse around, it’s crucial to consider the money you’ll save for your tenure in the house.

Please compare each lender to ensure that you lock in the best terms. Try to take advantage of these programs whenever you can, seeing that you will be eligible for savings that prior borrowers could not access as first-time homebuyers.

Get started with our list of suggested mortgage lenders to find the best financing for your first home in Michigan!

Are you a new homeowner seeking roofing companies in your area? We’ve got you covered! Check out our article on the Top 10 Roofing Companies in Detroit, Michigan, to kickstart your journey.

FAQs about Mortgage Lenders in Michigan

How do mortgages work?

A mortgage is financing used to buy a home. It’s also an agreement between you and the lender that says you can buy a house without paying full upfront. You’ll put down some money upfront (usually between 3% and 20% of the property price) and make smaller, fixed, equal monthly payments for a set number of years plus interest.

How is my mortgage rate decided?

Mortgage rates change almost every day, and things like inflation and the state of the economy can affect them. Even though the Federal Reserve doesn’t control mortgage rates, they often change because of what the Federal Reserve does with the interest rates. Market forces may affect the range of mortgage rates, but your mortgage rate will depend on where you live, your credit report, and your credit score. As your credit score rises, you have a greater chance of receiving a mortgage with a reduced interest rate.

What is the difference between a 15-year and a 30-year term?

Homeowners who take out a 15-year mortgage have 15 years to pay it off in fixed, equal installments plus interest. A 30-year mortgage, on the other hand, provides borrowers with 30 years to pay off their loans. Your monthly payments will be lower with a 30-year mortgage because you’ll have more time to pay off the debt. However, because interest is levied monthly, you’ll pay more interest throughout the loan. You can reduce your interest costs with a 15-year mortgage, but your monthly payments will be greater.

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