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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.904%APR 6.940% | 0 pts$0 | $1,837/moP&I $1,837 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.056%APR 6.827% | 0 pts$0 | $1,841/moP&I $1,711 · MI $130 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.001%APR 6.052% | 0 pts$0 | $1,672/moP&I $1,672 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.766%APR 6.802% | 0 pts$0 | $1,811/moP&I $1,811 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.670% | 0 pts$0 | $1,973/moP&I $1,973 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.001% | 6.052% | 0 pts ($0) | $2,353/mo | $46,996 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.998% | 6.051% | 0 pts ($0) | $2,941/mo | $65,511 |
Condo 10% Down | 10% | 720 credit score | 7.175% | 7.344% | 0 pts ($0) | $2,124/mo | $74,512 |
Conventional 10% Down | 10% | 720 credit score | 6.605% | 6.761% | 0 pts ($0) | $2,004/mo | $69,125 |
Conventional 20% Down | 20% | 740 credit score | 6.904% | 6.940% | 0 pts ($0) | $1,837/mo | $56,846 |
Conventional 5% Down | 5% | 700 credit score | 7.020% | 7.498% | 0 pts ($0) | $2,207/mo | $77,105 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.347% | 7.386% | 0 pts ($0) | $2,400/mo | $82,508 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,062/mo | $69,879 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.815% | 7.191% | 0 pts ($0) | $2,207/mo | $79,682 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.766% | 6.802% | 0 pts ($0) | $2,264/mo | $76,404 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,876/mo | $68,569 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.056% | 6.827% | 0 pts ($0) | $2,064/mo | $72,568 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,112/mo | $73,921 |
FHA Streamline Refi | 0% | 640 credit score | 6.251% | 7.025% | 0 pts ($0) | $2,184/mo | $77,279 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.989% | 7.233% | 0 pts ($0) | $2,200/mo | $79,775 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,180/mo | $42,690 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.670% | 0 pts ($0) | $1,850/mo | $58,977 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,878/mo | $58,703 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,026/mo | $62,137 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.422% | 7.199% | 0 pts ($0) | $2,145/mo | $76,335 |
Second Home 10% Down | 10% | 720 credit score | 5.946% | 6.519% | 0 pts ($0) | $1,870/mo | $62,907 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,833/mo | $56,678 |
VA 0% Down | 0% | 700 credit score | 6.048% | 6.292% | 0 pts ($0) | $2,145/mo | $70,906 |
VA Cash-Out Refi | 0% | 640 credit score | 6.061% | 6.430% | 0 pts ($0) | $2,148/mo | $71,045 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.070% | 6.223% | 0 pts ($0) | $2,150/mo | $71,141 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,918/mo | $60,671 |
Frequently Asked Questions
What are today's mortgage rates in 48063, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48063, , MI is 6.904% (with an estimated monthly payment of $2,202). Active program rates also include FHA 30-year fixed loans at 6.056% and VA 0%-down fixed loans at 6.048%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48063, , MI?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 48063, , MI have fluctuated between a low of 6.530% and a high of 6.983%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 48063, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $348,515 in 48063, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $69,703 but keeps your monthly payment lower at $2,202/mo (at 6.904% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,198 (3.5% down) but has an estimated payment of $2,474/mo (at 6.056% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $336,317 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 48063 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48063 is $806,501. With a typical local home value of $348,515 in , a standard 20%-down mortgage requires a loan size of $278,812. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 48063, , MI impact estimated mortgage payments?
The median home value in 48063, , MI is estimated at $348,515. Buying a typical home here with a standard 20% down payment ($69,703) translates to an estimated starting monthly mortgage payment of $2,202 (principal and interest). Compared to the local area median household income of $93,844 ($7,820/mo), this basic housing payment represents approximately 28.2% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.