Mortgage Loan Programs for Michigan Homebuyers & Homeowners
At @Home Mortgage, we know there isn't one mortgage that fits every borrower. We help homebuyers, homeowners, and real estate investors throughout Jackson, Brooklyn, Grass Lake, and surrounding Michigan communities compare financing options and understand which programs may fit their goals. Explore our mortgage loan programs below, or contact us if you're not sure where to start. We'll help you understand your options so you can feel prepared.
Conventional loans are a popular choice for homebuyers who want flexible financing options. Qualified borrowers may be able to purchase with as little as 3% down, and conventional financing can be used for a variety of property types. Explore conventional loan options for buying or refinancing a home in Michigan.
FHA loans offer financing for homebuyers and may be a good option for borrowers with limited savings or less-than-perfect credit. Qualified buyers may purchase with as little as 3.5% down, and gift funds for down payment assistance may be available. Learn more about FHA loan options for Michigan homebuyers.
VA loans offer valuable home financing benefits for eligible veterans, active-duty service members, and certain surviving spouses. Qualified borrowers may be able to purchase with no down payment and no monthly private mortgage insurance (PMI). Explore VA loan options for buying or refinancing a home in Michigan.
USDA loans, often called Rural Development or RD loans, can offer affordable financing for eligible homebuyers purchasing in qualifying rural and suburban areas. Qualified borrowers may be able to purchase with no down payment, making USDA financing worth exploring even in areas buyers may not think of as “rural.” Learn more about USDA Rural Development loan options and property eligibility in Michigan.
Jumbo loans provide financing for home purchases that exceed the conforming loan limits established for conventional mortgages. They can be used for primary residences, second homes, and certain investment properties, depending on the loan program and borrower qualifications. Explore jumbo loan options for higher-priced homes in Michigan.
Reverse mortgages can allow eligible homeowners age 62 or older to access a portion of their home equity without a required monthly mortgage payment. The home remains in the homeowner's name, and borrowers must continue to meet loan requirements such as paying property taxes, homeowners insurance, and maintaining the home. Learn more about reverse mortgage options available to Michigan homeowners.
DSCR loans are designed for real estate investors and may allow qualification based primarily on the rental income and cash flow of the investment property rather than the borrower's personal income. These loans can provide flexible financing options for purchasing or refinancing eligible investment properties. Learn more about DSCR loans in Michigan and how qualification works.
Construction loans provide financing for borrowers who want to build a new home rather than purchase an existing one. Depending on the loan program, financing may help cover costs associated with the land and construction of the home, with options for transitioning to permanent mortgage financing. Learn more about construction loan options for building a home in Michigan.
Non-QM loans offer alternative financing options for borrowers whose income, assets, or financial circumstances may not fit traditional mortgage guidelines. Depending on the program, qualification may use alternative documentation such as bank statements or other methods of demonstrating the ability to repay. Explore Non-QM loan options available to Michigan homebuyers and property investors.
Refinancing replaces your existing mortgage with a new loan and may help you reach different financial goals as your needs change. Homeowners may refinance to change their loan term, access home equity, consolidate eligible debt, or take advantage of different mortgage options. Explore refinance loan options for Michigan homeowners and see whether refinancing makes sense for your situation.
Foreign National loans provide financing options for non-U.S. citizens who want to purchase or invest in real estate in the United States. Depending on the program, borrowers may qualify using alternative documentation when traditional U.S. credit or income documentation is not available. Explore Foreign National loan options for purchasing or investing in property in Michigan.
Renovation loans can help Michigan homebuyers and homeowners finance eligible home improvements as part of their mortgage. Whether you're purchasing a home that needs work or refinancing a home you already own, renovation financing may allow you to include qualifying improvement costs in the loan.
