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Home financing for Metro Detroit

Home Loans in Detroit made simple

Every way to finance a home in Metro Detroit, in plain English. Pick your goal, learn the loan types that fit, then get matched with one local mortgage lender for free.

Get Matched With a Lender Compare loan types
  • Buy, refinance, equity or invest
  • No credit pull to match
  • Wayne, Oakland, Macomb and more

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Start here

Choose your home loan goal

Buy a home

First home or next home. Conventional, FHA, VA and USDA loans plus Michigan down payment help.

Mortgage guide →

Refinance

Lower your rate, change your term, drop mortgage insurance or take cash out.

Refinance guide →

HELOC or home equity loan

Borrow against your equity and keep your first mortgage as it is.

HELOC guide →

Investor and DSCR loans

Rentals, flips and portfolios financed on the property and its rent.

Investor loan guide →
Side by side

Common home loan types in Michigan

A quick comparison. Your lender confirms what you qualify for.

Loan typeBest forKey facts
ConventionalBuyers with steady income and solid creditNot backed by a government agency. Mortgage insurance usually applies with a smaller down payment.
FHAFirst-time buyers and buyers rebuilding creditInsured by the Federal Housing Administration, part of HUD. Down payment can be as low as 3.5% of the price.
VAVeterans, service members and some surviving spousesNo down payment when the price is not above the appraised value, and no monthly mortgage insurance. A one-time funding fee applies.
USDAModerate-income buyers in eligible rural areasUp to 100% financing through participating lenders. Income and property location limits apply.
HELOCOwners who need flexible access to equityA revolving line of credit, usually with an adjustable rate. Your home is the collateral.
DSCRRental property investorsQualifies mainly on the rent the property earns compared with its payment, not only on personal income.
Get matched

Get matched with a Detroit mortgage lender

Answer six quick questions about your goal, the property, your down payment or equity, your credit range and your timeline. One lender who serves your city follows up. Rebuild Detroit never pulls your credit and never asks for your Social Security number.

Free lender match, about 2 minutes

Step 1 of 6

What are you looking to do?
  • Free, no obligation
  • No credit check to get matched
  • No SSN requested
  • Detroit and six counties

Rebuild Detroit is a free directory and matching service. It is not a lender, does not make loans or credit decisions and does not quote rates. Loan terms, rates and approval come only from the lender you choose, who must give you a Loan Estimate after you apply. Check any lender or loan officer on NMLS Consumer Access.

The path to closing

How getting a home loan works

  1. 1

    Know your numbers

    Check your credit report, list your monthly debts and decide how much you want to spend each month. The CFPB notes that your credit score, down payment, loan term and loan type all shape the rate you are offered.

  2. 2

    Talk to a lender about pre-approval

    A mortgage pre-approval shows sellers you are ready and tells you your price range.

  3. 3

    Collect Loan Estimates

    After you apply, each lender must send a Loan Estimate within three business days. Compare the rate, APR, origination charges and cash to close.

  4. 4

    Appraisal, title and inspection

    The lender orders an appraisal, a title company checks ownership and liens, and a home inspection protects you as a buyer.

  5. 5

    Close

    Review your Closing Disclosure, sign, and get your keys or your new loan terms.

Browse the full lender directory Featured spots are paid placements and are labelled. Verified means the lender completed Rebuild Detroit's dated checks, see How We Vet. Lender? Get featured.

Michigan help

Michigan programs worth asking about

  • MSHDA MI Home Loan. From the Michigan State Housing Development Authority, for first-time buyers statewide (no home owned in the previous three years) and repeat buyers in targeted areas. A minimum credit score of 640 is required, and income and sales price limits apply. Details at MSHDA.
  • MI 10K DPA Loan. Interest-free down payment assistance with no monthly payments, available statewide with a MI Home Loan. It can cover down payment, closing costs and prepaids, and homebuyer education is required. Details at MSHDA.
  • Use a participating lender. MSHDA programs are offered through participating lenders only. When you get matched, say you want to be considered for MSHDA help.
Questions

Home loans in Detroit: FAQ

It depends on the loan. MSHDA's MI Home Loan requires at least 640, and each lender sets its own standards for other programs. Choose your range when you get matched and a loan officer will tell you what fits.
FHA loans allow as little as 3.5% down, VA loans can require no down payment, and USDA loans in eligible rural areas offer up to 100% financing. Michigan also offers down payment assistance through MSHDA.
The CFPB says multiple mortgage credit checks within a 45-day window are recorded as a single inquiry, so shopping several lenders in that window counts once.
No. Rebuild Detroit is a free matching service and directory. Loans, rates and approvals come only from the lender you choose.
Search the company and the loan officer on NMLS Consumer Access, and use the Michigan DIFS licensee locator for mortgage brokers, lenders and servicers.

Find the right home loan for you

Tell us your goal and city. One Metro Detroit lender follows up, free and with no obligation.

Get Matched With a Lender

Sources

Updated September 2026. Rules and procedures change; confirm with the responsible office before a decision.

Call (833) 313-2434 Get Matched With a Lender