Advertiser Disclosure

Best Michigan Mortgage Lenders of 2018

Feb. 2, 2018
Finding the Right Mortgage, Mortgages
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent. We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers.

Michigan mortgage lenders fund home loans for a broad mix of buyers. Whether you’re a couple looking for a small coastal cottage on the Great Lakes or a growing family putting down roots in Detroit, Michigan offers some of the best lifestyles in the Midwest.

NerdWallet has researched the leading mortgage lenders in Michigan to create a go-to guide of the best in several borrower categories.

Best Michigan mortgage lenders for refinancing

These lenders have deep benches of mortgage experts who can deploy a variety of loan products to help you improve your mortgage rate or lower your payment.

  • The online refinance process lets you choose what’s important to you: lower payments, a lower rate or a shorter term
  • The online application process takes about 15 minutes
  • You can earn a $250 fee credit for completing the digital mortgage application
  • Guaranteed Rate review
  • Home Insight Tracker allows you to manage your mortgage application through your phone, tablet or computer
  • A large menu of loan refinancing products
  • 2,600 retail banking branches and a network of retail mortgage offices across the country
  • PNC Mortgage review

Best Michigan mortgage lenders for first-time home buyers

Buying your first home requires a guiding hand, knowledgeable advice and the right loan. These lenders are among the best at all three.

  • Helps borrowers find state bond programs for first-time home buyers and income-limited households
  • A substantial network of more than 1,000 brokers and agents across the nation
  • FHA loans and some entry-level conventional loans use a benchmark 620 or better FICO credit score
  • Flagstar Bank review
  • Qualified customers may receive up to $2,000 in closing cost credits
  • Minimum credit score of 600 on FHA loans
  • Has a low ratio of consumer complaints registered with the Consumer Financial Protection Bureau
  • PrimeLending review

Best Michigan mortgage lenders for online experience

Getting a mortgage online or with a smartphone app is easier than ever. These lenders are leaders in mortgage process technology.

Rocket Mortgage
  • A fully online mortgage loan process
  • Employment and asset verification can be completed online
  • Loan decisions are generated within minutes
  • Rocket Mortgage review
  • Continuing technology upgrades are improving the customer experience
  • A rate comparison page offers head-to-head shopping with competitors
  • 180 affiliated loan stores nationwide for face-to-face assistance
  • LoanDepot review

Best Michigan mortgage lenders for government mortgages

Not every lender deals in government-backed loans like FHA, VA and USDA mortgages. We’ve found a couple best-rated lenders that embrace them.

  • Nearly two-thirds of its loans are backed by the VA
  • Minimum credit score 620
  • Highly rated for customer service
  • USAA Mortgage Loans review
Quicken Loans
  • The largest Federal Housing Administration lender in the nation
  • Also the largest lender in Michigan, based on loan origination volume
  • Tells you the loan amount you’ll qualify for within minutes
  • Quicken Loans review

Best Michigan mortgage lenders for home equity borrowers

Accessing your home’s value without selling it can unlock tremendous financial flexibility. These lenders are highly rated for Michigan borrowers.

  • Chase’s home equity line of credit comes with a fixed-rate option that can cover up to 20 years of the repayment period
  • Offers electronic submission and tracking of documents
  • Discounts available for existing Chase customers
  • Chase Mortgage review
  • Has a wide array of home equity products to meet virtually any financial need
  • Home Loan Navigator, an online mortgage portal, allows you to stay plugged in throughout the lending process
  • Existing bank customers might qualify for a reduction in fees
  • Bank of America mortgage review

Best Michigan mortgage lenders: summary

More from NerdWallet
Calculate your mortgage payment
Compare mortgage rates
How much home can you afford?

NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.