The Best Mortgage Lenders in Corunna, MI
Compare verified mortgage lenders serving Corunna, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Corunna
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong local presence in mid-Michigan, including service to Corunna. Known for exceptional customer service, competitive rates, and a wide range of loan products, they have built a reputation for reliability and efficiency. With over 28 years in business, they offer personalized guidance and have numerous positive reviews highlighting their responsiveness and expertise in handling various mortgage needs.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly regarded lender serving the Corunna area from its Lansing branch, praised for fast closings and outstanding customer satisfaction. They specialize in a variety of loan types and are known for their community involvement and transparent processes. With 16 years of experience, they have accumulated strong reviews for their attentive service and competitive financing options, making them a trusted choice for homebuyers in the region.
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Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans offers reliable mortgage services to Corunna residents from their Flint location, with a focus on flexible loan solutions and customer-centric approaches. They have a solid track record of 16 years, providing competitive rates and expert advice for first-time homebuyers and refinancers alike. Their high ratings and substantial review count reflect a commitment to quality service and a strong presence in the Shiawassee County area.
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Frequently Asked Questions
Common questions about mortgage lending in Corunna, MI
What are the current average mortgage rates for homebuyers in Corunna, MI?
Mortgage rates in Corunna 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 area generally range from 6.5% to 7.25%, though rates for condos or manufactured homes may be slightly higher. It's best to compare offers from local Corunna credit unions like ELGA Credit Union along with regional banks for the most competitive terms.
Are there any first-time homebuyer programs specifically available in Corunna?
Yes, Corunna homebuyers can access Michigan State Housing Development Authority (MSHDA) programs which offer down payment assistance and favorable loan terms. Additionally, the City of Corunna occasionally partners with Shiawassee County programs for local homebuyer initiatives. These programs are particularly valuable given Corunna's median home prices being below state averages.
How does Corunna's property tax structure affect mortgage payments?
Corunna has a property tax rate of approximately 37.5 mills, which is relatively moderate for Shiawassee County. This translates to about $3,750 annually on a $100,000 home, significantly impacting your total monthly mortgage payment when escrowed. Lenders will factor this into your debt-to-income ratio, so it's important to budget accordingly for Corunna's tax rates.
What special considerations should I know about getting a mortgage for Corunna's older historic homes?
Many Corunna homes in the historic district were built before 1940, which may require additional inspections and potentially FHA 203(k) renovation loans. Lenders often require thorough foundation, electrical, and plumbing inspections for these properties. Some local lenders have specific experience with Corunna's historic housing stock and can guide you through the unique requirements.
Are USDA loans available for homebuyers in Corunna, MI?
Yes, Corunna qualifies for USDA rural development loans due to its population size and location in Shiawassee County. These zero-down-payment loans are popular for Corunna homebuyers, particularly for properties on the outskirts of town. Income limits apply, but many Corunna households qualify given the area's moderate income levels compared to larger Michigan cities.
Why Choose a Mortgage Lender in Corunna?
Local Market Knowledge
Lenders who understand Corunna'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 Corunna and get competitive rates on your home loan.