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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 | 6.847%APR 6.881% | 0 pts$0 | $2,228/moP&I $2,228 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.977%APR 6.745% | 0 pts$0 | $2,228/moP&I $2,070 · MI $159 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.905%APR 5.953% | 0 pts$0 | $2,018/moP&I $2,018 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.578%APR 6.611% | 0 pts$0 | $2,167/moP&I $2,167 · MI $0 | See details |
| Investment Property FixedConforming | 7.543%APR 7.582% | 0 pts$0 | $2,388/moP&I $2,388 · 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 | 5.905% | 5.953% | 0 pts ($0) | $2,852/mo | $56,378 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.902% | 5.951% | 0 pts ($0) | $3,565/mo | $78,726 |
Condo 10% Down | 10% | 720 credit score | 7.060% | 7.225% | 0 pts ($0) | $2,561/mo | $89,560 |
Conventional 10% Down | 10% | 720 credit score | 6.536% | 6.689% | 0 pts ($0) | $2,427/mo | $83,520 |
Conventional 20% Down | 20% | 740 credit score | 6.847% | 6.881% | 0 pts ($0) | $2,228/mo | $68,753 |
Conventional 5% Down | 5% | 700 credit score | 6.970% | 7.446% | 0 pts ($0) | $2,679/mo | $93,440 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.289% | 7.326% | 0 pts ($0) | $2,911/mo | $99,896 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,516/mo | $85,235 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.749% | 7.122% | 0 pts ($0) | $2,674/mo | $96,372 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.578% | 6.611% | 0 pts ($0) | $2,709/mo | $90,787 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,508/mo | $83,637 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.977% | 6.745% | 0 pts ($0) | $2,496/mo | $87,524 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,576/mo | $90,165 |
FHA Streamline Refi | 0% | 640 credit score | 6.106% | 6.876% | 0 pts ($0) | $2,623/mo | $92,375 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.944% | 7.186% | 0 pts ($0) | $2,672/mo | $96,758 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,660/mo | $52,071 |
Investment Property 25% Down | 25% | 740 credit score | 7.543% | 7.582% | 0 pts ($0) | $2,239/mo | $71,149 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,291/mo | $71,603 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,472/mo | $75,792 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.345% | 7.119% | 0 pts ($0) | $2,596/mo | $92,142 |
Second Home 10% Down | 10% | 720 credit score | 5.991% | 6.563% | 0 pts ($0) | $2,292/mo | $77,249 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,236/mo | $69,133 |
VA 0% Down | 0% | 700 credit score | 5.974% | 6.215% | 0 pts ($0) | $2,596/mo | $85,522 |
VA Cash-Out Refi | 0% | 640 credit score | 5.981% | 6.346% | 0 pts ($0) | $2,598/mo | $85,613 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.995% | 6.145% | 0 pts ($0) | $2,602/mo | $85,796 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,339/mo | $74,003 |
Frequently Asked Questions
What are today's mortgage rates in 48361, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48361, , MI is 6.847% (with an estimated monthly payment of $2,921). Active program rates also include FHA 30-year fixed loans at 5.977% and VA 0%-down fixed loans at 5.974%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48361, , 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 48361, , MI have fluctuated between a low of 6.467% and a high of 6.928%. 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 48361, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $425,102 in 48361, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $85,020 but keeps your monthly payment lower at $2,921/mo (at 6.847% interest) with no monthly PMI. In comparison, an FHA loan requires only $14,879 (3.5% down) but has an estimated payment of $3,273/mo (at 5.977% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $410,223 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 48361 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48361 is $806,501. With a typical local home value of $425,102 in , a standard 20%-down mortgage requires a loan size of $340,082. 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 48361, , MI impact estimated mortgage payments?
The median home value in 48361, , MI is estimated at $425,102. Buying a typical home here with a standard 20% down payment ($85,020) translates to an estimated starting monthly mortgage payment of $2,921 (principal and interest). Compared to the local area median household income of $129,099 ($10,758/mo), this basic housing payment represents approximately 27.2% 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.