The Best Mortgage Lenders in Sumner, MI
Compare verified mortgage lenders serving Sumner, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sumner
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with an excellent reputation for customer service and competitive rates. Founded in 1996, it has a strong presence in Michigan, including service to Sumner, with high ratings on BBB and Google. They offer a wide range of loan options, personalized support, and are known for their reliability and community involvement in mid-Michigan.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated lender founded in 2008, known for its fast loan processing and exceptional customer satisfaction. With a focus on serving Michigan communities, including Sumner, they provide competitive rates and a variety of loan products. Their local office in Grand Rapids ensures personalized service, and they have a strong track record of transparency and efficiency.
Loan Types:
New American Funding
New American Funding
New American Funding, established in 2003, is a reputable lender with high customer ratings and a commitment to diversity and inclusion. They serve Sumner and surrounding areas with a full suite of mortgage products, offering competitive rates and dedicated local support. Their Michigan office in Troy provides accessible service, and they are praised for their responsive communication and educational resources for borrowers.
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Frequently Asked Questions
Common questions about mortgage lending in Sumner, MI
What are the current average mortgage rates for homebuyers in Sumner, MI?
Mortgage rates in Sumner typically align with national averages but can be slightly lower due to the rural nature of Gratiot County. As of late 2023, 30-year fixed rates in the area generally range from 6.5% to 7.25%, though individual rates depend heavily on credit score and down payment. Local lenders like Independent Bank or Chemical Bank often offer competitive rates specifically for Sumner homebuyers.
Are there any special mortgage programs for first-time homebuyers in Sumner?
Yes, Sumner homebuyers can access Michigan State Housing Development Authority (MSHDA) programs which offer down payment assistance and competitive rates for first-time buyers. Additionally, some local lenders provide special programs for purchasing in rural areas like Sumner, including USDA loans which require no down payment for eligible properties and borrowers in this qualifying rural location.
How does Sumner's rural location affect the mortgage process?
Sumner's rural classification means USDA loans are widely available and often the most advantageous option, featuring 100% financing. However, appraisals may take slightly longer as appraisers often travel from larger nearby cities like Alma or Mt. Pleasant. Some lenders may also require additional property inspections for older farmhouses or rural properties common in the area.
What are the typical closing costs for mortgages in Sumner, MI?
Closing costs in Sumner typically range from 2% to 5% of the home's purchase price, which is consistent with statewide averages. However, you may see slightly higher title insurance costs due to the rural nature of property records in Gratiot County. Many local lenders offer closing cost assistance programs, particularly for first-time buyers using MSHDA loans.
Are there any local property tax considerations that affect mortgages in Sumner?
Sumner homeowners benefit from Gratiot County's relatively low property tax rates compared to urban Michigan areas, currently around 1.2% to 1.5% of assessed value. However, lenders will carefully review tax obligations since some properties may have special agricultural assessments. Your mortgage escrow account will be set up to account for these specific tax amounts.
Why Choose a Mortgage Lender in Sumner?
Local Market Knowledge
Lenders who understand Sumner'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 Sumner and get competitive rates on your home loan.