The Best Mortgage Lenders in Washington, MI
Compare verified mortgage lenders serving Washington, Michigan. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Washington
Featured Mortgage Lenders
Rocket Mortgage
Rocket Mortgage, LLC
Rocket Mortgage is a top-rated national lender headquartered in Detroit, Michigan, with an exceptional reputation for customer service and innovation. Known for its fully online mortgage process, it offers competitive rates, fast approvals, and a wide range of loan products. With high customer satisfaction scores on platforms like BBB (A+ rating) and Trustpilot, it serves Washington, MI residents efficiently, leveraging its local roots and extensive experience to provide personalized support and streamlined digital solutions for homebuyers and refinancers.
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Flagstar Bank
Flagstar Bank, N.A.
Flagstar Bank is a well-established regional lender based in Troy, Michigan, with a strong presence in the Detroit metropolitan area, including Washington, MI. It is renowned for its competitive mortgage rates, flexible loan options, and dedicated local service. With high ratings from customers for its responsive support and straightforward application process, Flagstar combines the reliability of a bank with personalized attention, making it a trusted choice for first-time homebuyers, investors, and those seeking refinancing in Macomb County and beyond.
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Lake Trust Credit Union
Lake Trust Credit Union
Lake Trust Credit Union is a highly-rated, member-owned financial institution serving communities across Michigan, including Washington, MI. It excels in providing personalized mortgage solutions with competitive rates, local decision-making, and a focus on member satisfaction. Known for its community involvement and ethical lending practices, Lake Trust offers a range of loan products tailored to individual needs, backed by strong customer reviews praising its friendly service, transparency, and support for homebuyers throughout the process.
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Frequently Asked Questions
Common questions about mortgage lending in Washington, MI
What are the current average mortgage rates for homebuyers in Washington, MI?
Mortgage rates in Washington typically align with national averages but can vary based on local lender competition and property types. As of recent data, 30-year fixed rates in the area generally range from 6.5% to 7.25%, though specific rates depend on credit score, loan amount, and down payment. Working with local lenders who understand Washington's market can help secure competitive rates.
Are there any first-time homebuyer programs specific to Washington, MI that I should know about?
Yes, Washington homebuyers can access Michigan State Housing Development Authority (MSHDA) programs offering down payment assistance and favorable loan terms. Additionally, Macomb County may offer local grants for first-time buyers purchasing in Washington. These programs are particularly valuable given Washington's median home prices, which are slightly above state averages.
How does Washington's property tax system affect my mortgage payments?
Washington Township has property tax rates around 1.4-1.6% of assessed value, which will be factored into your monthly escrow payments. These rates are competitive within Oakland County but higher than some surrounding areas. Your lender will calculate these taxes into your total monthly payment during pre-approval to ensure affordability.
What special considerations should I know about getting a mortgage for Washington's older housing inventory?
Many Washington homes were built in the 1970s-1990s, so lenders may require additional inspections for older systems like roofs, HVAC, and foundations. FHA 203(k) renovation loans are popular here for updating older properties. It's wise to budget for potential repair escrows when purchasing Washington's characteristic ranch and colonial-style homes.
How competitive is the mortgage lending environment among local Washington, MI lenders?
Washington benefits from strong competition among local banks, credit unions, and mortgage brokers serving the Macomb/Oakland county region. This competition often results in more flexible underwriting and competitive closing costs. Many local lenders offer specialized programs for Washington's mix of suburban homes and rural properties, providing good options for different buyer profiles.
Nearby Cities
Explore mortgage lenders in cities near Washington, MI
Why Choose a Mortgage Lender in Washington?
Local Market Knowledge
Lenders who understand Washington'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 Washington and get competitive rates on your home loan.