Conventional
3% down
Standard for buyers with 5%+ down and 620+ FICO
Mortgage Rates in Michigan | MI Lender
TouchPoint is licensed to lend across Michigan. Pre-qualify in 60 seconds, see your real rate, and close in 18–25 days. Whether you are buying in Detroit, refinancing in Grand Rapids, or pulling equity in Ann Arbor, the same rate, the same team, the same 60-second pre-qualification.
No credit impact to see your personalized rates. Pre-qualification is a soft pull.
About the Michigan mortgage market
Michigan housing is regionally diverse. Wayne County (Detroit) runs at a fraction of the price of the Grand Rapids or Ann Arbor metros, and that gap matters for loan limits, PMI, and the kind of program that fits best. Property taxes vary just as widely – Wayne County effective rate is one of the highest in the country, while many rural counties sit closer to 1%. There is no state income tax in Michigan, and the homestead property tax credit helps owner-occupiers offset part of their bill.
| Median home price | ~$260,000 statewide (Detroit $180K; Ann Arbor $475K) |
|---|---|
| Avg property tax rate | ~1.0% to ~3.0% by county (highest: Wayne County) |
| State transfer tax | None (Michigan has no state transfer tax) |
| Capital | Lansing |
Loan programs available across Michigan
FHA
3.5% down
Best for first-time buyers, lower credit scores OK
VA
0% down
Eligible veterans, active-duty and surviving spouses
Jumbo
to $1M+
For higher-value homes in Ann Arbor, Birmingham, Bloomfield Hills
MSHDA
Up to $10K
Michigan State Housing Development Authority loans
Rural Development
0% down
USDA RD loans in qualifying rural counties
Michigan cities we serve
Pick your city for Michigan-specific market data, neighborhoods, and program availability.
Mortgages in Michigan: common questions
Do you lend across all of Michigan?
Yes. We are licensed statewide in Michigan. Most closings happen in metro Detroit, Grand Rapids, Ann Arbor, Lansing, Kalamazoo, and Traverse City, but we lend in every county.
What credit score do I need in Michigan?
Conventional loans typically start at 620, FHA at 580 with 3.5% down, VA loans have no official minimum but most lenders want 580-620. TouchPoint works with borrowers across the full credit spectrum.
How long does it take to close on a Michigan home?
Most Michigan purchase loans close in 18-25 days. Refis run 14-21 days. Michigan has no state transfer tax, which can speed up the title process compared to other states.
Are property taxes high in Michigan?
Property taxes vary widely by county. Wayne County (Detroit) is around 3.0% effective, while many other counties are 1.0-1.5%. The state homestead property tax credit helps offset part of the bill for owner-occupiers.
Ready to see your Michigan mortgage options?
Pre-qualify in about 60 seconds. No credit impact, no commitment, no pressure.
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