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Michigan Mortgage Loans
Home loan options across Michigan - FHA, VA, USDA, conventional, and investor financing. Serving buyers and homeowners throughout the state.
Quick Answer
Michigan buyers in Detroit, Grand Rapids, and across the state can access FHA, VA, USDA, and conventional programs - including MSHDA down payment assistance for qualifying borrowers - as a recovering housing market creates real opportunity for owner-occupants and value-focused investors alike. Refinance options may make sense for homeowners positioned to benefit from stabilizing prices and improving inventory. DSCR loans suit Michigan's affordable rental markets, and bank statement and alt-doc programs serve self-employed borrowers participating in the state's economic rebound.
Buy a Home
FHA, VA, USDA, conventional, and first-time buyer programs. Compare options based on your down payment, credit, and goals.
Explore OptionsRefinance
Lower your rate, shorten your term, or tap your equity with a cash-out refinance. Subject to credit, income, and property guidelines.
Explore OptionsInvest
DSCR loans qualify on rental income, not tax returns. Build your rental portfolio across single-family, multi-unit, and short-term rental properties.
Explore OptionsSelf-Employed
Bank statement loans and alt-doc programs for business owners. Qualify using 12-24 months of deposits instead of tax returns.
Explore OptionsMichigan Mortgage FAQ
What mortgage programs are available in Michigan?
Michigan borrowers may qualify for FHA, VA, USDA, conventional, jumbo, DSCR investor loans, and bank statement loans, depending on their scenario. The Michigan State Housing Development Authority (MSHDA) also offers down payment assistance programs for qualifying borrowers. Subject to credit, income, property, and lender guidelines.
Is down payment assistance available in Michigan?
The Michigan State Housing Development Authority (MSHDA) offers down payment assistance programs for eligible homebuyers. Income, purchase price, and eligibility requirements apply. Talk with a loan officer about whether these programs may be available for your scenario.
Are USDA loans available in Michigan?
Yes. Many rural and suburban areas throughout Michigan are eligible for USDA rural housing loans with zero-down financing. Property and income eligibility requirements apply.
What credit score do I need for a mortgage in Michigan?
Credit score requirements vary by program. FHA may allow scores as low as 580 with 3.5% down. Conventional loans typically require 620 or higher. Talk with a loan officer about your credit profile and options.
Ready to Explore Your Options in Michigan?
Talk with a loan officer about your scenario. Programs subject to credit, income, property, and lender guidelines.
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