The Best Mortgage Lenders in Riverview, MI
Compare verified mortgage lenders serving Riverview, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Riverview
Featured Mortgage Lenders
Patrick M. O'Meara
The Home Loan Expert of Michigan
Patrick O'Meara and his team at The Home Loan Expert of Michigan are highly regarded throughout Downriver communities including Riverview. With over 15 years of specialized experience serving Southeast Michigan, they maintain exceptional 4.9-star ratings across multiple review platforms. Their expertise covers the full spectrum of mortgage products with particular strength in first-time homebuyer programs and government-backed loans. The company is known for personalized service, competitive rates, and deep knowledge of the local Riverview real estate market, making them a top choice for residents seeking mortgage financing in the area.
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Lisa R. Trowbridge
Lake Michigan Credit Union
Lake Michigan Credit Union maintains a strong physical presence in Riverview with their local branch and has been serving Michigan communities for over 90 years. As a member-owned financial institution, they offer highly competitive mortgage rates and personalized service to Riverview residents. Their mortgage team, including experienced loan officers like Lisa Trowbridge, provides comprehensive lending solutions with the advantage of local decision-making. LMCU is particularly noted for their first-time homebuyer programs, low closing costs, and exceptional customer service, earning them consistent high ratings from the Riverview community.
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Michael A. Serra
Serra Lending Group
Serra Lending Group, located in nearby Allen Park, has built an outstanding reputation throughout Downriver communities including Riverview. With nearly two decades of mortgage lending experience, Michael Serra and his team specialize in creating customized financing solutions for homebuyers and investors. They are particularly recognized for their expertise in complex loan scenarios, investment property financing, and providing educational guidance throughout the mortgage process. The company maintains strong relationships with local real estate professionals and consistently receives high marks for their responsiveness, transparency, and competitive loan products tailored to Riverview market conditions.
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Frequently Asked Questions
Common questions about mortgage lending in Riverview, MI
What are the current average mortgage rates for homebuyers in Riverview, MI?
Mortgage rates in Riverview typically align with national averages but can vary based on local lender competition and property specifics. As of late 2024, conventional 30-year fixed rates in the Downriver area generally range from 6.5% to 7.25%. It's best to compare rates from both local Riverview credit unions and national lenders, as local institutions sometimes offer special programs for Wayne County residents.
Are there any first-time homebuyer programs specifically available in Riverview?
Yes, Riverview homebuyers can access the Michigan State Housing Development Authority (MSHDA) loan program, which offers down payment assistance and competitive rates. Additionally, the Wayne County Neighborhood Stabilization Program sometimes includes Riverview properties, providing additional support for qualified buyers. Local lenders like Riverview Community Federal Credit Union often have specialized guidance on these programs.
How does Riverview's property tax rate affect my mortgage payments?
Riverview has a property tax rate of approximately 49.5 mills (around 4.95%), which is relatively high compared to national averages but typical for Wayne County. This means your monthly mortgage payment will include a significant escrow portion for taxes - for a $200,000 home, expect roughly $4,000-5,000 annually in property taxes included in your monthly payment.
What special considerations should I know about getting a mortgage for Riverview's older housing stock?
Many Riverview homes were built between 1950-1970, so mortgage lenders often require thorough home inspections and may have specific requirements for older electrical, plumbing, or roofing systems. FHA 203(k) renovation loans are popular here for buyers needing to update these older properties while keeping everything in one mortgage.
Are there any local down payment assistance programs for Riverview teachers or city employees?
While Riverview doesn't have a city-specific program, employees of Riverview Community Schools and city workers may qualify for special lending programs through local credit unions and the MSHDA Heroes program for essential workers. Some local lenders also offer discounted closing costs or reduced rates for public service employees in the Downriver area.
Why Choose a Mortgage Lender in Riverview?
Local Market Knowledge
Lenders who understand Riverview'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 Riverview and get competitive rates on your home loan.