The Best Mortgage Lenders in Auburn Hills, MI
Compare verified mortgage lenders serving Auburn Hills, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Auburn Hills
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender with a strong local presence in the Detroit metropolitan area, including Auburn Hills. Founded in 2003, they are known for their competitive rates, diverse loan options, and exceptional customer service. They have a reputation for streamlining the mortgage process and offering personalized support, with many reviews highlighting their responsiveness and expertise in handling first-time homebuyer and refinance scenarios. Their Troy office serves as a regional hub, ensuring easy access for Auburn Hills residents.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a significant presence in Southeast Michigan, including service to Auburn Hills. Established in 2000, they are renowned for their digital mortgage platform, which simplifies applications and offers competitive rates. Customers praise their efficient processing, transparency, and knowledgeable staff. The Southfield branch provides local support, making them a reliable choice for home purchases and refinances in the area, with a focus on technology-driven solutions and high customer satisfaction.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-regarded lender known for its community-focused approach and fast closing times, serving Auburn Hills and the broader Detroit region. Founded in 2008, they have built a strong reputation for reliability, competitive pricing, and excellent customer service. Reviews often highlight their dedication to local homebuyers, with loan officers who provide personalized guidance. Their Livonia office ensures accessible support for Oakland County residents, making them a trusted option for various mortgage needs.
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Frequently Asked Questions
Common questions about mortgage lending in Auburn Hills, MI
What are the current average mortgage rates for homebuyers in Auburn Hills, MI?
Mortgage rates in Auburn Hills typically align with national averages but can vary based on local market conditions and lender competition. As of recent data, 30-year fixed rates generally range from 6.5% to 7.5%, though rates for FHA and VA loans may be slightly lower. Auburn Hills buyers should compare rates from both local credit unions and national lenders, as institutions like Lake Trust Credit Union often offer competitive local rates.
Are there any first-time homebuyer programs specifically available in Auburn Hills?
Yes, Auburn Hills homebuyers can access Michigan's statewide programs like MSHDA's Down Payment Assistance, which offers up to $10,000 in down payment help. Additionally, the Oakland County Neighborhood & Housing Development Division provides first-time buyer programs with favorable terms. These programs are particularly valuable in Auburn Hills where median home prices are accessible but still require substantial upfront costs.
How does Auburn Hills' property tax system affect mortgage payments?
Auburn Hills has property tax rates around 40-45 mills, which translates to approximately 4.0-4.5% of taxable value. This means a $250,000 home would have annual taxes of roughly $5,000-$5,600. Lenders factor these taxes into your monthly mortgage payment through escrow accounts, so Auburn Hills buyers should budget for higher monthly payments compared to some neighboring communities with lower tax rates.
What special mortgage considerations should I know about buying in Auburn Hills' newer developments versus older neighborhoods?
Auburn Hills features both modern subdivisions near the Palace site and established neighborhoods with older homes. For newer construction, builders often have preferred lenders offering incentives, while older homes may require more thorough inspections that could affect loan approval. FHA 203(k) loans can be particularly useful for renovating older Auburn Hills properties, combining purchase and improvement costs into one mortgage.
How do Auburn Hills' employment centers like Stellantis and BorgWarner impact mortgage lending?
Major employers in Auburn Hills can positively influence mortgage approval for local employees. Many lenders offer special programs for automotive industry workers, and stable employment at these companies can strengthen loan applications. Additionally, some credit unions partner with these employers to offer preferred mortgage rates, making homeownership more accessible for Auburn Hills' workforce.
Nearby Cities
Explore mortgage lenders in cities near Auburn Hills, MI
Why Choose a Mortgage Lender in Auburn Hills?
Local Market Knowledge
Lenders who understand Auburn Hills'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 Auburn Hills and get competitive rates on your home loan.