The Best Mortgage Lenders in Ann Arbor, MI
Compare verified mortgage lenders serving Ann Arbor, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ann Arbor
Featured Mortgage Lenders
Jeff Kahan
University Bank
University Bank is a premier Ann Arbor-based community bank with deep local roots and exceptional customer satisfaction ratings. As one of the highest-rated mortgage lenders in Washtenaw County, they specialize in personalized service and competitive local lending programs. Their mortgage team, led by experienced professionals like Jeff Kahan, provides comprehensive guidance through the entire home financing process. The bank's strong community presence and commitment to Ann Arbor homeowners make them a top choice for those seeking local expertise with the stability of an established financial institution.
Loan Types:
Mortgage Department
Flagstar Bank
Flagstar Bank maintains a strong physical presence in Ann Arbor with multiple branches and a dedicated mortgage team serving the local community. As one of the largest mortgage lenders in Michigan, they offer competitive rates and a wide variety of loan products. Their experienced local loan officers provide personalized service while leveraging the resources of a major regional bank. Flagstar consistently receives high marks for their efficient processing, transparent communication, and expertise in Michigan's unique housing market, making them a trusted choice for Ann Arbor homebuyers.
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Chris Uhl
Ann Arbor Mortgage Solutions
Ann Arbor Mortgage Solutions is a highly specialized local mortgage brokerage firm that focuses exclusively on serving the Ann Arbor community. Led by Chris Uhl, the company has built an outstanding reputation for providing customized mortgage solutions and exceptional client service. As a brokerage, they offer access to multiple lenders and competitive loan products while maintaining the personal touch of a local business. Their deep understanding of Ann Arbor's unique real estate market, combined with their commitment to transparent communication and competitive rates, makes them a top choice for sophisticated homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Ann Arbor, MI
Are there any special first-time homebuyer programs available specifically in Ann Arbor?
Yes, Ann Arbor homebuyers can access programs like the Michigan State Housing Development Authority (MSHDA) loan, which offers down payment assistance and competitive rates. Additionally, Washtenaw County offers its own Down Payment Assistance program for income-qualified buyers purchasing within the county. These programs are particularly valuable given Ann Arbor's higher-than-average home prices.
How does Ann Arbor's competitive housing market affect the mortgage pre-approval process?
In Ann Arbor's highly competitive market, a strong pre-approval is essential. Many sellers require full underwriting pre-approval rather than basic pre-qualification. Given frequent multiple-offer situations, having your financial documentation thoroughly reviewed upfront can make your offer stand out and help you move quickly when you find the right property.
What are typical mortgage rates like in Ann Arbor compared to national averages?
Ann Arbor mortgage rates typically align with national averages but can vary slightly based on local lender competition and property types. Given the city's strong employment base and stable housing market, borrowers with good credit often find competitive rates. However, rates for condos or historic homes in neighborhoods like Old West Side may differ due to specific property considerations.
Are there any special mortgage considerations for buying a historic home in Ann Arbor's older neighborhoods?
Yes, purchasing historic homes in areas like Burns Park or Old West Side requires special attention. Some lenders may have additional requirements for older homes, and you'll want to ensure the property meets current lending standards. It's also wise to budget for potentially higher insurance costs and consider any preservation restrictions that might affect financing options.
How do Ann Arbor's property taxes impact mortgage affordability calculations?
Ann Arbor has relatively high property tax rates compared to other Michigan cities, which significantly affects your total monthly payment. Lenders will factor in these taxes when determining your debt-to-income ratio. It's important to work with a local lender who understands Ann Arbor's specific millage rates and can accurately calculate how taxes will impact your overall housing costs.
Why Choose a Mortgage Lender in Ann Arbor?
Local Market Knowledge
Lenders who understand Ann Arbor's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Michigan.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Ann Arbor and get competitive rates on your home loan.