The next step is hunting down the best mortgage for that Sterling Heights 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 Sterling Heights lenders that will compete to provide a loan at the lowest rate, matching you with nearly 11 Sterling Heights 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 Sterling Heights mortgage payment was $1,348 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 Sterling Heights home.

Sterling Heights is a major city in Michigan with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: Towne Mortgage And Realty Co.Great Lakes Mortgage Funding Inc.First Horizon Home Loan Corporation.Mica Mortgage Corp.Mortgage One Incorporated.City Mortgage Services Corp.Premier Mortgage Lending llc.R- B Financial Mortgage Inc.Continental Mortgage Corp Usa.American Home Mortgage Corp.

Sterling Heights Mortgage & Real Estate Market

In 2006 Sterling Heights housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Sterling Heights was $192,900. This number is big in comparison to the median home value back in 2000 of $160,700. Sterling Heights has a solid home ownership base with 49,691 houses and apartments and 75% of those are occupied by their owners. Despite the current market, historically Sterling Heights has been a city where people move, buy and stay - with 56% of homeowners currently paying off a mortgage. About 18% of the city's current homeowners are carrying a second mortgage or home equity loan.

Cranbrook Loans
41800 Hayes rd Clinton Twp, MI	Phone: 586-649-2286 Ask for: Azar Robert
Special Mortgage Programs
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.

Housing	Sterling Heights, MI	United States
Median Home Cost	$202,100	$217,200
Homes Rented	20.29%	21.45%
Homes Owned	77.13%	64.07%
Home Appreciation	-0.40%	9.80%

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

Category	Value
Second Mortgage Only	4%
Homes With No Mortgage	26%
2nd Mortgage or Home Equity	18%
First Mortgage Only	56%
Home Equity Loan Only	14%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

Your dream of home ownership, refinancing, or using your homes equity might just be an
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