The Best Mortgage Lenders in Clio, MI
Compare verified mortgage lenders serving Clio, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clio
Featured Mortgage Lenders
Michigan Mutual
Michigan Mutual, Inc.
Michigan Mutual is one of the highest-rated mortgage lenders serving the Genesee County area, including Clio. With over 30 years of experience and headquartered just minutes from Clio in Flint, they have deep local market knowledge and strong community ties. They consistently receive exceptional reviews for their personalized service, competitive rates, and expertise with all loan types including specialized programs for first-time homebuyers. Their team provides dedicated local underwriting and processing, ensuring smooth closings and excellent customer experiences throughout the mortgage process.
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ELGA Credit Union
ELGA Credit Union
ELGA Credit Union has a physical branch location right in Clio and has been serving Genesee County residents for over 70 years. As a community-focused credit union, they offer highly competitive mortgage rates and exceptional member service. They specialize in first-time homebuyer programs and provide personalized mortgage guidance with local decision-making. Their mortgage team receives outstanding reviews for their responsiveness, transparency throughout the loan process, and commitment to finding the best mortgage solutions for each individual borrower's needs.
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Great Lakes Mortgage Solutions
Great Lakes Mortgage Solutions, LLC
Located in nearby Grand Blanc, Great Lakes Mortgage Solutions is a highly-rated mortgage brokerage serving the entire Genesee County area including Clio. They have built an exceptional reputation for their expertise in complex loan scenarios and their ability to secure competitive rates from multiple wholesale lenders. With nearly two decades of experience, their team provides comprehensive mortgage services with particular strength in VA loans, investment properties, and construction lending. They receive consistent 5-star reviews for their detailed communication, expert guidance, and efficient loan processing.
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Frequently Asked Questions
Common questions about mortgage lending in Clio, MI
What are the current average mortgage rates for homebuyers in Clio, MI?
Mortgage rates in Clio typically align with national averages but can vary based on local lender competition and property types. As of recent data, 30-year fixed rates in the Clio area generally range from 6.5% to 7.25%, though credit score, down payment, and loan type significantly impact individual rates. Local credit unions like Financial Edge Credit Union often offer competitive rates specifically for Genesee County residents.
Are there any first-time homebuyer programs specifically available in Clio?
Yes, Clio homebuyers can access the Michigan State Housing Development Authority (MSHDA) loan program, which offers down payment assistance and competitive rates for first-time buyers. Additionally, the Genesee County Land Bank occasionally has programs for affordable homes in the Clio area. These programs can provide up to $10,000 in down payment assistance with favorable terms for qualifying buyers.
How does Clio's property tax structure affect mortgage payments?
Clio property taxes are relatively moderate compared to surrounding areas, with an average millage rate around 45-50 mills. This translates to approximately $2,500-$3,500 annually on a $150,000 home, which lenders factor into your debt-to-income ratio. Your mortgage payment will include escrow for these taxes, so it's important to budget for this local expense when calculating affordability.
What types of properties in Clio might require special mortgage considerations?
Older homes in Clio's historic districts or rural properties with well and septic systems may require additional inspections and appraisals. Lenders might have specific requirements for manufactured homes, which are common in the area, including foundation certifications. Additionally, properties near the Flint River might need flood certification, potentially requiring flood insurance for mortgage approval.
How competitive is the Clio housing market for mortgage financing?
Clio's housing market remains moderately competitive with median home prices around $150,000-$180,000, making it accessible for many buyers. Conventional loans are most common, but FHA and VA loans are also popular given the area's affordable price points. Pre-approval from local lenders who understand the Genesee County market can provide a significant advantage when making offers.
Why Choose a Mortgage Lender in Clio?
Local Market Knowledge
Lenders who understand Clio'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 Clio and get competitive rates on your home loan.