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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 | 6.999%APR 7.039% | 0 pts$0 | $1,317/moP&I $1,317 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.076%APR 6.850% | 0 pts$0 | $1,310/moP&I $1,218 · MI $92 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.262%APR 6.320% | 0 pts$0 | $1,221/moP&I $1,221 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.162%APR 7.225% | 0 pts$0 | $1,339/moP&I $1,339 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.725% | 0 pts$0 | $1,401/moP&I $1,401 · 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 | 6.262% | 6.320% | 0 pts ($0) | $1,699/mo | $34,869 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.273% | 6.341% | 0 pts ($0) | $2,125/mo | $48,491 |
Condo 10% Down | 10% | 720 credit score | 7.335% | 7.511% | 0 pts ($0) | $1,532/mo | $53,986 |
Conventional 10% Down | 10% | 720 credit score | 6.820% | 6.983% | 0 pts ($0) | $1,455/mo | $50,527 |
Conventional 20% Down | 20% | 740 credit score | 6.999% | 7.039% | 0 pts ($0) | $1,317/mo | $40,933 |
Conventional 5% Down | 5% | 700 credit score | 7.171% | 7.659% | 0 pts ($0) | $1,591/mo | $55,822 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.454% | 7.497% | 0 pts ($0) | $1,723/mo | $59,388 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,465/mo | $49,620 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.846% | 7.226% | 0 pts ($0) | $1,572/mo | $56,806 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.162% | 7.225% | 0 pts ($0) | $1,673/mo | $57,208 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,042/mo | $48,690 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.076% | 6.850% | 0 pts ($0) | $1,469/mo | $51,676 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,499/mo | $52,491 |
FHA Streamline Refi | 0% | 640 credit score | 6.271% | 7.048% | 0 pts ($0) | $1,554/mo | $55,027 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.112% | 7.361% | 0 pts ($0) | $1,582/mo | $57,519 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,548/mo | $30,314 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.725% | 0 pts ($0) | $1,314/mo | $41,879 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,334/mo | $41,685 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,439/mo | $44,123 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.440% | 7.220% | 0 pts ($0) | $1,526/mo | $54,336 |
Second Home 10% Down | 10% | 720 credit score | 6.082% | 6.661% | 0 pts ($0) | $1,347/mo | $45,580 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,302/mo | $40,246 |
VA 0% Down | 0% | 700 credit score | 6.081% | 6.328% | 0 pts ($0) | $1,529/mo | $50,600 |
VA Cash-Out Refi | 0% | 640 credit score | 6.085% | 6.457% | 0 pts ($0) | $1,529/mo | $50,631 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.091% | 6.247% | 0 pts ($0) | $1,530/mo | $50,676 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,362/mo | $43,082 |
Frequently Asked Questions
What are today's mortgage rates in 48328, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48328, , MI is 6.999% (with an estimated monthly payment of $1,526). Active program rates also include FHA 30-year fixed loans at 6.076% and VA 0%-down fixed loans at 6.081%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48328, , 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 48328, , MI have fluctuated between a low of 6.898% and a high of 7.151%. 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 48328, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $247,478 in 48328, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $49,496 but keeps your monthly payment lower at $1,526/mo (at 6.999% interest) with no monthly PMI. In comparison, an FHA loan requires only $8,662 (3.5% down) but has an estimated payment of $1,701/mo (at 6.076% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $238,816 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 48328 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48328 is $806,501. With a typical local home value of $247,478 in , a standard 20%-down mortgage requires a loan size of $197,982. 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 48328, , MI impact estimated mortgage payments?
The median home value in 48328, , MI is estimated at $247,478. Buying a typical home here with a standard 20% down payment ($49,496) translates to an estimated starting monthly mortgage payment of $1,526 (principal and interest). Compared to the local area median household income of $69,206 ($5,767/mo), this basic housing payment represents approximately 26.5% 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.