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Buying a home in Metro Detroit

Get a Mortgage in Detroit with the right loan

First home or next home, the right loan can lower what you need up front. Compare the main loan types, see Michigan down payment help, then get matched with one local lender.

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  • First-time buyer friendly
  • Ask about MSHDA help
  • No credit pull to match

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Free lender match, about 2 minutes

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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.

Compare

Conventional, FHA, VA and USDA loans

The four loan types most Metro Detroit buyers choose between. A loan officer confirms which you qualify for.

LoanWho it fitsDown paymentGood to know
ConventionalSteady income and solid creditVaries by lender and programPrivate mortgage insurance usually applies with a smaller down payment.
FHAFirst-time buyers, lower savings, credit still buildingAs low as 3.5% of the priceInsured by the Federal Housing Administration, part of HUD, which describes it as easier credit qualifying.
VAEligible veterans, service members and some surviving spousesNone when the price is not above the appraised valueNo monthly mortgage insurance. A one-time VA funding fee applies, and you need a Certificate of Eligibility.
USDALow to moderate income buyers in eligible rural areasUp to 100% financing30-year fixed only. Household income cannot exceed 115% of the area median, and the home must be your primary residence.
First-time buyers

First-time homebuyer loans in Michigan

You may count as a first-time buyer even if you owned a home years ago. For the Michigan State Housing Development Authority (MSHDA), a first-time homebuyer is someone who has not owned a home in the previous three years.

MSHDA MI Home Loan

The MI Home Loan is open to first-time buyers statewide and to repeat buyers in targeted areas. It requires a minimum credit score of 640, and household income and sales price limits apply. You apply through a participating lender, not through the state.

MI 10K DPA Loan

Paired with a MI Home Loan, the MI 10K DPA Loan is interest-free down payment assistance with no monthly payments. It can cover down payment, closing costs and prepaid expenses. Repayment is deferred until the first mortgage is paid off, the home is sold or refinanced, or it is no longer your primary home. Every buyer must complete homebuyer education.

When you get matched, choose "Not sure, I may need down payment help" and the loan officer will check MSHDA options for you. See first-time homebuyer lenders for more.

Step by step

How to get a mortgage in Detroit

  1. 1

    Check your credit and budget

    Pull your free credit reports and fix errors first. The CFPB notes that a higher credit score and a larger down payment generally lead to more affordable offers.

  2. 2

    Get pre-approval

    A mortgage pre-approval tells you your price range and makes your offer stronger with sellers and their agents.

  3. 3

    Shop homes with an agent

    A local buyer's agent can tour homes, pull comparable sales and write your offer. Browse homes for sale in the meantime.

  4. 4

    Apply and compare Loan Estimates

    Once you have an accepted offer, apply. Each lender must send a Loan Estimate within three business days. Compare the rate, APR and cash to close.

  5. 5

    Inspection, appraisal and title

    Book a buyer home inspection. The lender orders an appraisal, and a title company clears the title and handles closing.

  6. 6

    Close on your home

    Review your Closing Disclosure, bring your funds to close, sign, and get your keys.

Documents

What to gather before you apply

  • Income. Recent pay stubs and W-2s, or recent tax returns if you are self-employed.
  • Assets. Recent bank and retirement statements, and a gift letter if family is helping with the down payment.
  • Debts. Car loans, student loans and credit cards, so the lender can compare monthly debts with income.
  • For VA loans. Your Certificate of Eligibility, which your lender can often request for you.
  • For MSHDA help. Your homebuyer education certificate once you complete the class.
Other purchase loans

Buying something different?

Questions

Mortgages in Detroit: FAQ

Many first-time buyers look at FHA loans, which HUD says allow as little as 3.5% down with easier credit qualifying. Eligible veterans should compare VA loans, which can require no down payment.
For MSHDA programs, you are a first-time buyer if you have not owned a home in the previous three years.
MSHDA offers the MI 10K DPA Loan statewide with a MI Home Loan. It is interest-free with no monthly payments and requires homebuyer education and a participating lender.
Only for homes in USDA eligible rural areas. Some outlying parts of the region may qualify, so check the exact address with the lender before you count on it.
It varies by lender, loan type and how fast documents come in. A pre-approval early in your search keeps the process moving once your offer is accepted.
No. Rebuild Detroit is a free matching service. Approval, rates and terms come only from the lender.

Ready to buy? Get matched with a lender

Six quick questions, no credit check. One Metro Detroit lender follows up about your purchase.

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Sources

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

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