The Best Mortgage Lenders in Taylor, MI
Compare verified mortgage lenders serving Taylor, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Taylor
Featured Mortgage Lenders
Quicken Loans / Rocket Mortgage
Rocket Mortgage
As America's largest mortgage lender and headquartered in Detroit, Rocket Mortgage brings exceptional convenience and digital-first mortgage solutions to Taylor residents. Their fully online application process, competitive rates, and extensive loan options make them a top choice. With 24/7 availability and rapid approval times, they've revolutionized mortgage lending while maintaining strong local ties to Southeast Michigan communities.
Loan Types:
DFCU Financial
DFCU Financial
As one of Michigan's largest credit unions, DFCU Financial has deep roots in Southeast Michigan and serves Taylor residents with exceptional mortgage products and personalized service. Their member-focused approach provides competitive rates with lower fees, and their local loan officers understand the Taylor real estate market intimately. With multiple branch locations throughout the region and a reputation for excellent customer service, they offer both digital convenience and in-person support.
Loan Types:
Approved Mortgage
Approved Mortgage, Inc.
This highly-rated local mortgage broker serves the entire metro Detroit area including Taylor, with exceptional customer satisfaction ratings and personalized service. Approved Mortgage specializes in finding the best loan programs for each borrower's unique situation, leveraging relationships with multiple lenders to secure competitive rates. Their team of experienced loan officers provides white-glove service throughout the mortgage process, making them a top choice for Taylor homebuyers seeking local expertise and outstanding support.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Taylor, MI
What are the current average mortgage rates in Taylor, MI, and how do they compare to the national average?
Mortgage rates in Taylor typically align closely with national averages but can be slightly influenced by local economic factors. As of recent data, rates in the Detroit metro area, including Taylor, often run within 0.125% to 0.25% of the national average. It's best to check with local lenders for the most current rates, as they can vary based on your credit profile and loan type.
Are there any first-time homebuyer programs specifically available for Taylor residents?
Yes, Taylor homebuyers can access the Michigan State Housing Development Authority (MSHDA) loan program, which offers down payment assistance and competitive interest rates. Additionally, some Wayne County programs may provide additional support for qualified buyers purchasing in Taylor, making homeownership more accessible through grants and favorable loan terms.
How does Taylor's property tax rate affect my mortgage payments?
Taylor has a property tax rate that's relatively high compared to some Michigan communities, currently around 54-57 mills depending on specific location. This means your monthly mortgage payment will include a significant escrow portion for taxes. When calculating affordability, factor in that Taylor's effective property tax rate typically ranges from 2.1% to 2.4% of the home's taxable value.
What types of mortgage loans are most common for Taylor's housing market?
Given Taylor's median home prices (typically $180,000-$250,000), conventional loans and FHA loans are most prevalent. Many buyers opt for FHA loans due to their lower down payment requirements (as low as 3.5%), which works well for the area's price range. VA loans are also popular given Taylor's proximity to military facilities and veteran population.
Are there any special mortgage considerations for buying a home in Taylor's older neighborhoods?
Yes, many Taylor homes built in the 1950s-1970s may require special attention during the mortgage process. Lenders often require thorough inspections for older mechanical systems, foundations, and roofs. Some loan programs may have additional requirements for homes over 50 years old, so it's important to work with a lender experienced in Taylor's housing stock.
Why Choose a Mortgage Lender in Taylor?
Local Market Knowledge
Lenders who understand Taylor'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 Taylor and get competitive rates on your home loan.