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9 best mortgage lenders in Michigan

Looking for the best mortgage in Michigan? Here are our top 9 picks for interest rates, first-time homebuyers, refinancing and great service in the Wolverine State.

Land of the five Great Lakes, nearly 10 million Americans call Michigan home. Over 71% of Michigan’s residents own their own property — higher than the national average — and pay an average of $1,298 per month for mortgage payments, taxes, utilities and other costs.

The cost of a typical home in Michigan is $187,747, according to Zillow’s January 2021 reports, which is 29% less than the median home price in the US. Home values in Michigan have gone up 8.2% in 2020 and are predicted to rise 10.6% more over the next year. So, if you’re looking for the best home or refinance loan in Michigan, our top nine lenders are a great place to start.

Best Michigan mortgage lenders in 2021

How we picked the best lenders

We hand-selected these lenders from over 200 mortgage companies originating home loans in Michigan. These top nine picks made our list after we researched interest rates, first-time homebuyer programs, credit score eligibility, customer service and digital convenience.

We also looked at customer reviews from consumer rating sites like Zillow, Google reviews and the Better Business Bureau (BBB) in making our decisions. To learn about our lender selection process, please see Finder’s rating methodology.

Best online experience


Better is a nontraditional, no-commission digital lender that offers customers a 100% online mortgage application process. Because Better bases its prequalification decision on actual numbers, it can provide you with a loan preapproval in minutes rather than hours or days.

The company claims that you can get a preapproval letter in as little as three minutes, lock your rate in 30 minutes and close up to two times faster than the industry average. So, if you're comfortable with technology and prefer a digital lender, Better might be a good option.

Best marketplace


Looking for multiple quotes? If so, LendingTree could fit your needs. Instead of researching and contacting lenders yourself, LendingTree is a free third-party service that matches you to lenders from its database of over 1,500 partners nationwide.

Call or fill out a form with some basic information, and the best matching lenders will contact you based on the details you provide. Because lenders are competing for your business, LendingTree claims you may get a better rate than you could on your own.

Rocket Mortgage

Founded in 2016, Rocket Mortgage is the online mortgage version of Quicken Loans. Unlike traditional lenders, Rocket Mortgage is available 24 hours a day, seven days a week, allowing you to apply for a loan and lock in a rate without having to work with a loan officer — unless you want to.

Using the Rocket Mortgage digital interface, you can apply for a home or refinance loan, check the application's status and get notifications all from one place. Rocket Mortgage can also verify your assets and credit electronically to help simplify and speed up the loan application process.

Best rates


AmeriSave is a fully online mortgage lender that offers a variety of home loans with an emphasis on helping homeowners refinance. On average, AmeriSave offers some of the lowest refinance rates of all the lenders we compared in Michigan, making it a good choice if you're looking to refinance.

AmeriSave lists current refinance rates on its website. It allows you to see what your available mortgage rates could be and get prequalified without a Social Security number or hard credit pull.

Best for customer service

Synergy One Lending

Not all lenders have excellent marks for customer service, but Synergy One Lending stands above the crowd. The company has a 4.9 out of 5 rating on both Zillow and Google reviews where hundreds of customers report being thrilled with the service, communication and knowledge of their loan officers.

Synergy One's Modern Mortgage Experience aims to bring together the best of technology with its people to create a streamlined, customer-centric experience. If you're ready to apply for a home or refinance loan, you can apply online or use the company's S1 Connect app.

Best for a wide range of credit scores

Mr. Cooper

If you're looking for a lender that's more flexible with credit scores, Mr. Cooper may be able to help. Previously known as Nationstar Mortgage, Mr. Cooper offers a user-friendly mobile app, loan tracking and a close on time guarantee.

While the company doesn't have the lowest mortgage rates of lenders we compared in Michigan, Mr. Cooper offers a solid range of loans and takes part in government programs geared towards helping homebuyers, including the Hardest Hit Fund and the Servicemembers Civil Relief Act (SCRA).

Best regional lender

University of Michigan Credit Union

Looking for a regional lender for your home loan needs? Established in 1954, UMCU is headquartered in Ann Arbor and serves the financial needs of the employees of the University of Michigan, Eastern Michigan University, Washtenaw Community College and nearby communities.

To see what types of loans rates you may qualify for, the UMCU website has a form where you can enter some basic information and see current rates, APRs and payments for different loan terms. And if you're ready to apply for a home loan, you can do it right from the credit union's website.

Best for refinancing

Arbor Financial Credit Union

Founded in 1935, Arbor Financial Credit Union's goal is providing financial services to all types of families and businesses in the state of Michigan. The credit union offers some of the best refinance rates and terms we found in Michigan as stated on its website.

The credit union offers a variety of loans, including FHA and construction loans, 3% down mortgages, lot loans, jumbo and bridge loans as well as physician's mortgages. Anyone that lives or works in Michigan can become a member, making it straightforward to apply for a home or refinance loan.

Best for first-time homebuyers

Lake Michigan Credit Union

Founded in 1933, Lake Michigan Credit Union's mission is to give back more to its members in the form of higher savings and lower borrowing rates. Besides its standard loans, the credit union offers specialized products, including doctor mortgages, loans for educators, CPAs, bankers, architects, first responders, military members, government employees and more.

So, if you're looking for a lender to help you achieve your new homeownership goals under a variety of situations, Lake Michigan Credit Union could be a good choice. Either apply online or contact a loan officer to get started.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

1 - 9 of 9
Name Product Loan products offered State availability Min. credit score
(NMLS #7872)
Freedom Mortgage
(NMLS #2767)
Freedom Mortgage
Conventional, Jumbo, FHA, VA, USDA, Refinance
Available in all states
A lender that excels in FHA and VA loans, offering low down payment options to borrowers.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1168)
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
Veterans United stands out from other lenders for its focus on serving the military community.
(NMLS #1121636)
Conventional, Jumbo, Home equity, Refinance
Not available in: HI
No hidden fees, multiple loan terms, and member discounts available.
Guaranteed Rate
(NMLS #2610)
Guaranteed Rate
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Find competitive rates and highly-rated customer service with this lender.
(NMLS #1429243)
Conventional, Jumbo
Not available in: AZ, HI, MA, MO, NV, UT
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
(NMLS #1136)
HELOC, Home Equity loans
Available in all states
Connect with vetted lenders quickly through this free online marketplace.

Compare up to 4 providers

Which lender is best for me?

With hundreds of lenders available in Michigan, you may wonder if you’ve found the right one. However, it is possible to narrow down the choices by knowing what type of loan and level of service you want.

Here’s how to narrow the options:

  • Know your loans. Many buyers look for a house without understanding the kinds of loans available. For example, there are conventional and government-backed loans, first-time homebuyer programs, renovation loans, specialized loans, refinance loans and more.
  • Determine if the lender is a good fit. How much interaction do you want with your lender? Would you prefer a fully digital mortgage, meeting in person or a combination of both? Mortgage and customer reviews are both helpful in determining if a lender will be a good fit for you.
  • Ask the lender questions:
      • What fees do you charge?
      • How fast can I expect to close?
      • Can I get a rate lock and for how long?
      • Who is my contact person if I need help?
      • Who services my loan after closing?
      • Are there prepayment penalties?
  • Get multiple quotes. Experts recommend getting at least three or more quotes to compare offers and negotiate a better rate or lower fees.

Average rates and fees in Michigan

As of January 19, 2021, the average benchmark 30-year fixed mortgage rate in the US is 2.87%, up from a low of 2.67% in December 2020. According to data from the Consumer Financial Protection Bureau (CFPB), most Michigan lenders are offering interest rates at or below 2.875%, with rates ranging from 2.00% to 3.75% as of January 2021.

Additionally, Michigan homebuyers can expect to pay an average of $4,014 after taxes for closing costs, or approximately 2.01% to 4.01% of the home’s final sale price, according to data from ClosingCorp. For more information, see mortgage rates in Michigan or Michigan closing costs for more details on what you can expect to pay.

What about brokers?

Aside from our best marketplace pick, LendingTree, our list of Michigan lenders are companies that underwrite mortgage loans directly. If you don’t have the time to research lenders yourself, you can also work with a mortgage broker who can help you find a low-rate loan on commission.

While it’s standard practice for brokers to charge .5% to 2% of a loan’s value, be aware that some may charge excessive fees. Also, with many lenders offering free loan prequalification and rates online, you may discover that you’ll find a great rate on your own, minus a broker’s commission.

Bottom line

Whether you’re a first-time homebuyer or want to take advantage of historically low rates with a refinance in 2021, there are many loans to choose from. If one lender doesn’t have the type of loan product you’re after, chances are another will. While our top Michigan lender picks will be just right for many borrowers, compare more lenders to see how you may qualify for other mortgages.

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