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Your Detroit
Lender and Mortgage Resource
| Why Mortgage Lenders Plus? |
| Certified lenders compete for your loan and you compare and choose from multiple offers online! |
Trained consultants are available to assist you whenever you need them. Apply Today |
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Would you like to buy or refinance a home in Detroit? You're going to need a home loan, or mortgage, to do that. Mortgage rates differ throughout the country; our Detroit mortgage lenders strive to provide the best mortgage rates available in the Detroit area. Back to Michigan Mortgage
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Search and Compare Mortgage Rates
The next step is hunting down the best mortgage for that Detroit home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Detroit lenders that will compete to provide a loan at the lowest rate, matching you with nearly 7 Detroit mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.
How much of a Mortgage?
Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Detroit mortgage payment was $1,082 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Detroit home.
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Detroit Mortgage Lenders
Detroit is a major city in Michigan with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as:
First Independence Natl Bank.Set2GO Loans.Home Federal Savings Bank.First Independence Corp.Health One Credit Union.Detroit Commerce Bank.Financial Freedom Senior Funding Corp.Countrywide Home Loans Inc.
Detroit Mortgage & Real Estate Market
In 2006 Detroit housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Detroit was $88,300. This number is big in comparison to the median home value back in 2000 of $63,600. Detroit has a solid home ownership base with 375,151 houses and apartments and 45% of those are occupied by their owners. Despite the current market, historically Detroit has been a city where people move, buy and stay - with 50% of homeowners currently paying off a mortgage. About 13% of the city's current homeowners are carrying a second mortgage or home equity loan.
| Cranbrook Loans |
41800 Hayes rd
Clinton Twp, MI
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Phone: 586-649-2286
Ask for: Azar Robert
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| Special Mortgage Programs |
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Cranbrook Mortgage Corporation is a Better Business Bureau listed company with twelve years experience. Call Toll Free at 877-LOAN-993 Ext: 2286. We offer debt consolidation refinance, rate reduction loans and Government insured loans including FHA Secure. We also refinance manufactured homes with no maximum acreage limit to qualifying applicants.
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Detroit, MI Real Estate Market View
updated Friday, May 16, 2008
| Housing |
Detroit, MI |
United States |
| Homes Owned |
48.98% |
64.07%
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| Median Home Cost |
$99,800 |
$217,200
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| Home Appreciation |
-0.40% |
9.80%
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| Homes Rented |
40.59% |
21.45%
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Popular Cities and Towns
| Location |
Population |
Median Family Income (2005) |
| Ann Arbor |
114,024 |
$46,299 |
| Canton |
76,366 |
$72,495 |
| Dearborn |
97,775 |
$44,560 |
| Detroit |
951,270 |
$29,526 |
| Farmington Hills |
82,111 |
$67,493 |
| Flint |
124,943 |
$28,015 |
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Detroit Mortgage Statistics
| Category |
Value |
| Homes With No Mortgage |
37% |
| 2nd Mortgage or Home Equity |
13% |
| Second Mortgage Only |
6% |
| First Mortgage Only |
50% |
| Home Equity Loan Only |
7% |
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Additional Detroit Lenders
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First Independence Natl Bank
44 Michigan Ave
Detroit, MI 48226
(336)-632-0034
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Set2GO Loans
16811 Avon Ave
Detroit, MI 48219
313-685-7739
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Home Federal Savings Bank
9108 Woodward Ave
Detroit, MI 48202
(313)-873-3310
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First Independence Corp
44 Michigan Ave
Detroit, MI 48226
(313)-256-8400
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Health One Credit Union
500 East Lafayette
Detroit, MI 48226
(313)-225-9755
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Detroit Commerce Bank
645 Griswold Suite 70
Detroit, MI 48226
(313)-967-9700
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Financial Freedom Senior Funding Corp
17500 W Mcnichols Rd
Detroit, MI 48235
(313)-538-2026
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Countrywide Home Loans Inc
3161 E. Jefferson Ave
Detroit, MI 48027
(313)-393-6350
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0.035%
0.011%
Common Sense