Top 10 Mortgage Lenders in Michigan for Your First Property

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
• 2. LendingTree
• 3. Arbor Financial Credit Union
• 4. Rocket Mortgage
• 5. Mr. Cooper
• 6. AmeriSave
• 7. Synergy One Lending
• 8. Sage Mortgage
• 9. Homefinity
• 10. Better Mortgage

1. Lake Michigan Credit Union

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

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

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

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

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

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

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

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

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

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