Benzinga has researched the top mortgage lenders to show you the best mortgage lenders in Lansing, Michigan for buying a home or refinancing.
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Best Mortgage Lenders in Lansing, Michigan
Rocket Mortgage
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Rocket Mortgage is one of the best mortgage lenders on the market, making it easy to apply for a home loan entirely online. Its streamlined preapproval process and quick access to customer service set it apart from other online lenders. Rocket Mortgage offers a large variety of mortgages and is backed by the largest mortgage lender, Quicken Loans. Whether you need help or know exactly what you’re looking for, Rocket Mortgage matches you with the right mortgage type and helps you quickly complete your online application.
Best For
- Homebuyers who are looking to complete the mortgage application process on their own
- Homebuyers who have found their dream home and are looking to move through the approval process quickly
- Homebuyers with good credit scores looking to review their mortgage options
- Current homeowners looking to refinance within the next few months
- Rocket Mortgage allows you to move at your own pace, guiding you through each step of the process. After you answer all the application questions, Rocket Mortgage lets you know if you’re approved and show your personalized mortgage recommendations
- You can submit checking and savings account information, tax returns and other financial documents online — a feature that sets Rocket Mortgage apart from online competitors
- RateShield allows you to lock in your Rocket Mortgage approved rate for up to 90 days
- The home loan application process can be completed in minutes, allowing you to find out if you qualify for a mortgage right away
- The online software allows you to navigate through the entire home buying process, from approval to home closing. Once you’re approved and you make an offer on your home, Rocket Mortgage offers online tools that will help you move through the rest of the closing process
- While Rocket Mortgage has customer specialists ready to answer your questions and provide guidance, if you prefer sitting across from a person when filling out financial forms, this lender might not be right for you
- You can’t easily view all of Rocket Mortgage’s home loan options prior to applying. It offers conventional, FHA, USDA and VA loans, but you’ll need to apply to find out more about the mortgage types within these offerings and which ones you’re eligible for
Luxury Mortgage
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Luxury Mortgage offers standard products like conventional loans, VA loans, Jumbo loans and FHA loans. It also has more specialized products like bank statement loans, asset qualifier mortgages and no doc investment property loans. If you’ve had a hard time finding a mortgage due to erratic income, being retired or buying an investment property, Luxury Mortgage is worth a look.
Best For
- Self-employed professionals
- Retirees
- Investors
- Condo buyers
- Wide variety of mortgage products
- Niche products like bank statement loans
- Works with many state home buyer assistance programs
- Only available in 29 states
New American Funding
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Veterans United Mortgage
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Veterans United focuses on helping veterans and current service members find the right mortgage for their needs. It’s licensed in all 50 states and the District of Columbia and is the top VA lender in the country. If you’re currently serving or if you’re a veteran, Veterans United is worth considering due to its outstanding customer service and range of mortgage options.
Best For
- Current service members
- Veterans
- First-time home buyers
- 24/7 customer service
- Offers VA purchase and refinance loans
- Offers credit consulting through its Lighthouse Program
- Branches in only 18 states
loanDepot Mortgage
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Guaranteed Rate Mortgage
See also: Best Mortgage Lenders in Michigan
Lansing is the capital city of Michigan. The capitol building is widely recognized for its large cast-iron dome. There is a population of 112,644 ethnically diverse people in Lansing and it is the sixth-largest city in the state.
Its metropolitan area is known as “Mid Michigan ” and is the center of educational, governmental, commercial, and industrial functions and is the third-largest metropolitan area in Michigan. Lansing is commonly known as “The Heart of Michigan” and referred to as “L-Town”. Nearby is Michigan State University, a large university enrolling more than 50,000 students and rated in the top 6% of global universities.
Lansing Real Estate Market
The median home value in Lansing is $113,193. The real estate market has seen an average annual appreciation rate increase of 5.37% over the last 10 years. While about half of the population in Lansing are homeowners, the other half make up the rental market. Average rentals here are $1,128 per month.
Most homes are mid-sized single-family homes, with some apartment complexes. Many residents are young, single professionals working in technology and health care fields. There is also a wide variety of both white and blue-collar jobs among those residing in Lansing.
Popular Neighborhoods in Lansing
Delta Mills
Delta Center
Waverly
Clinton Village/Valley Farms
Millett
Edgemont Park
West Windsor/Whaley Drain
Packard
Delta River Dr/Josette Ln
Lockwoode Ct/Moorwood Dr
Nearby Communities
Bath
DeWitt
Dimondale
Eagle
East Lansing
Grand Ledge
Haslett
Holt
Mason
Okemos
Current Mortgage Rates in Michigan
The interest rate on your loan is referred to as your mortgage rate. This is primarily determined by your credit score, but your down payment, home location, mortgage type and mortgage term also play a role in determining your mortgage rate.
Mortgage rate averages range from city to city but you can get a good idea of your expected rate by viewing your state’s average rates. Here’s a quick look at average mortgage rates for the most popular mortgage terms in Michigan.
| Loan Type | Rate | APR |
|---|---|---|
| 30-year fixed |
3.734% |
3.815% |
| 15-year fixed |
2.823% |
2.939% |
| 7/1 ARM (adjustable rate) | N/A | N/A |
| 5/1 ARM (adjustable rate) | N/A | N/A |
Rates based on an average home price of $173,277 and a down payment of 20%.
Rocket Mortgage® is an online mortgage experience developed by Quicken Loans®, America’s largest mortgage lender. Rocket Mortgage® makes it easy to get a mortgage — you just tell the company about yourself, your home, your finances and Rocket Mortgage® gives you real interest rates and numbers. You can use Rocket Mortgage® to get approved, ask questions about your mortgage, manage your payments and more.
You can work at your own pace and someone is always there to answer your questions — 24 hours a day, 7 days a week. Want a fast, convenient way to get a mortgage? Give Rocket Mortgage® a try.