The Best Mortgage Lenders in Union Lake, MI
Compare verified mortgage lenders serving Union Lake, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union Lake
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a top-rated lender with a strong presence in the Detroit metropolitan area, including Union Lake. Known for its personalized service and competitive rates, the company has built a reputation for efficiency and customer satisfaction. With over two decades of experience, they offer a wide range of loan products and have consistently high ratings due to their transparent processes and dedicated local loan officers. Their Southfield office serves Oakland County residents with expertise in both purchase and refinance mortgages.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly reputable mortgage lender with a significant footprint in Michigan, serving Union Lake and surrounding areas. They are acclaimed for their innovative digital tools, which streamline the application process, and their commitment to competitive pricing. With nearly 25 years in business, they have earned numerous industry awards and high customer ratings for their responsive service and extensive loan options. Their Detroit office provides easy access for Oakland County clients, emphasizing clarity and support throughout the mortgage journey.
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New American Funding
New American Funding, LLC
New American Funding is a well-established lender with a dedicated office in Troy, Michigan, actively serving the Union Lake community. They are praised for their diverse loan programs and focus on inclusive lending, including options for first-time homebuyers. With over 20 years of experience, they have built a strong record of customer satisfaction through attentive service and flexible solutions. Their local team in Oakland County ensures personalized support, making them a trusted choice for mortgages in the region, backed by positive reviews and a commitment to community engagement.
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Frequently Asked Questions
Common questions about mortgage lending in Union Lake, MI
What are current mortgage rates like for homes in Union Lake, MI?
Mortgage rates in Union Lake typically align with national averages but can vary based on local market conditions and property types. As of late 2024, rates for 30-year fixed mortgages in Oakland County generally range from 6.5% to 7.25%, though Union Lake's waterfront properties may command slightly different rates. It's best to consult with local lenders who understand the specific dynamics of this desirable lakeside community.
Are there any special mortgage programs for first-time homebuyers in Union Lake?
Yes, Michigan State Housing Development Authority (MSHDA) programs are available to Union Lake homebuyers, offering down payment assistance and competitive rates. Additionally, Oakland County offers its own Homebuyer Assistance Program that can be combined with MSHDA loans. These programs are particularly valuable in Union Lake where median home prices are above county averages.
How does Union Lake's waterfront location affect mortgage requirements?
Waterfront properties in Union Lake often require additional considerations, including higher down payments (sometimes 20% or more) and specialized flood insurance. Lenders may require more extensive property inspections and appraisals for homes directly on the lake. These factors can influence both loan approval and interest rates for lakeside properties.
What unique closing costs should I expect when buying a home in Union Lake?
Beyond standard Michigan closing costs, Union Lake homebuyers should budget for specific expenses like enhanced title insurance due to the area's complex property histories and potential lake access easements. You may also encounter additional transfer taxes and recording fees specific to Commerce Township, where Union Lake is located. Waterfront properties often involve extra survey and environmental assessment costs.
How competitive is the mortgage pre-approval process in Union Lake's housing market?
Given Union Lake's desirable location and limited housing inventory, pre-approval is particularly competitive. Strong pre-approvals with local lenders who understand the market are essential when competing for properties. Many sellers prefer buyers who use established Michigan-based lenders familiar with Union Lake's unique property characteristics and valuation challenges.
Nearby Cities
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Why Choose a Mortgage Lender in Union Lake?
Local Market Knowledge
Lenders who understand Union Lake'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 Union Lake and get competitive rates on your home loan.