The Best Mortgage Lenders in Kent City, MI
Compare verified mortgage lenders serving Kent City, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kent City
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with over 28 years of experience, known for its exceptional customer service and competitive rates. They have a strong local presence in Grand Rapids and serve Kent City and all of Kent County, offering a wide range of loan options including government-backed and jumbo loans. Their high ratings and numerous positive reviews highlight their reliability and commitment to helping homebuyers navigate the mortgage process smoothly.
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New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with 21 years of experience, praised for its diverse loan programs and focus on community lending. They have a solid reputation in Michigan for providing personalized service and competitive rates, making them a reliable choice for Kent City residents. Their commitment to customer satisfaction and extensive loan options, including specialized programs for first-time homebuyers, ensures a tailored mortgage experience.
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Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a reputable mortgage lender with 16 years of experience, offering a technology-driven approach and competitive rates. They serve Kent City and the broader Kent County area with a variety of loan products, including refinancing and jumbo loans. Known for their efficient processing and strong customer support, Caliber has built a loyal client base through consistent performance and high satisfaction ratings.
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Frequently Asked Questions
Common questions about mortgage lending in Kent City, MI
What are the current average mortgage rates for homebuyers in Kent City, MI?
Mortgage rates in Kent City typically align with national averages but can vary based on local lender competition and property location. As of recent data, conventional 30-year fixed rates in the area generally range from 6.5% to 7.25%, though rates for FHA and VA loans may be slightly lower. It's best to compare offers from local credit unions like Lake Michigan Credit Union and national lenders operating in the area for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Kent City?
Yes, Kent City homebuyers can access the Michigan State Housing Development Authority (MSHDA) programs, which offer down payment assistance and favorable loan terms. Additionally, the Homeownership Assistance Program through the Kent County Land Bank provides additional support for qualifying buyers purchasing within Kent County, including Kent City. These programs can provide up to $10,000 in down payment assistance for eligible first-time buyers.
How does Kent City's rural location affect mortgage lending and property requirements?
Kent City's rural setting means many properties require well and septic systems, which lenders typically require specific inspections for before approving loans. USDA loans are particularly popular here since much of the area qualifies for USDA rural development programs, offering 100% financing with no down payment. Appraisals may also take longer due to fewer comparable sales in the immediate area compared to urban centers.
What special considerations should I know about property taxes when getting a mortgage in Kent City?
Kent City properties fall under Kent County tax rates, which currently average around 1.35% of assessed value. Lenders will factor these taxes into your monthly mortgage payment through an escrow account. It's important to note that Kent City residents may qualify for Michigan's Homestead Property Tax Credit if they meet income requirements, which can significantly reduce annual tax burdens.
Are there local lenders in Kent City that understand the unique aspects of the housing market?
Yes, several local lenders have extensive experience with Kent City's market, including Independent Bank, which has branches in nearby communities and understands the area's property values and trends. Local credit unions like Kent City's own financial institutions often offer personalized service and may have more flexible underwriting for properties with unique characteristics common in this rural community.
Why Choose a Mortgage Lender in Kent City?
Local Market Knowledge
Lenders who understand Kent City'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 Kent City and get competitive rates on your home loan.