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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 | $2,698/moP&I $2,698 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.977%APR 6.745% | 0 pts$0 | $2,698/moP&I $2,506 · MI $192 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.906%APR 5.954% | 0 pts$0 | $2,444/moP&I $2,444 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.579%APR 6.612% | 0 pts$0 | $2,624/moP&I $2,624 · MI $0 | See details |
| Investment Property FixedConforming | 7.543%APR 7.582% | 0 pts$0 | $2,892/moP&I $2,892 · 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 | 5.906% | 5.954% | 0 pts ($0) | $3,454/mo | $68,281 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.903% | 5.952% | 0 pts ($0) | $4,317/mo | $95,345 |
Condo 10% Down | 10% | 720 credit score | 7.060% | 7.225% | 0 pts ($0) | $3,101/mo | $108,449 |
Conventional 10% Down | 10% | 720 credit score | 6.537% | 6.690% | 0 pts ($0) | $2,940/mo | $101,149 |
Conventional 20% Down | 20% | 740 credit score | 6.847% | 6.881% | 0 pts ($0) | $2,698/mo | $83,254 |
Conventional 5% Down | 5% | 700 credit score | 6.970% | 7.446% | 0 pts ($0) | $3,244/mo | $113,147 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.290% | 7.327% | 0 pts ($0) | $3,526/mo | $120,981 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,046/mo | $103,212 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.749% | 7.122% | 0 pts ($0) | $3,238/mo | $116,698 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.579% | 6.612% | 0 pts ($0) | $3,280/mo | $109,950 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,248/mo | $101,277 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.977% | 6.745% | 0 pts ($0) | $3,023/mo | $105,984 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,119/mo | $109,182 |
FHA Streamline Refi | 0% | 640 credit score | 6.106% | 6.876% | 0 pts ($0) | $3,176/mo | $111,858 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.944% | 7.186% | 0 pts ($0) | $3,235/mo | $117,165 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,220/mo | $63,053 |
Investment Property 25% Down | 25% | 740 credit score | 7.543% | 7.582% | 0 pts ($0) | $2,711/mo | $86,155 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,774/mo | $86,705 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,993/mo | $91,777 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.346% | 7.120% | 0 pts ($0) | $3,144/mo | $111,591 |
Second Home 10% Down | 10% | 720 credit score | 5.992% | 6.564% | 0 pts ($0) | $2,775/mo | $93,555 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,708/mo | $83,713 |
VA 0% Down | 0% | 700 credit score | 5.974% | 6.215% | 0 pts ($0) | $3,144/mo | $103,559 |
VA Cash-Out Refi | 0% | 640 credit score | 5.981% | 6.346% | 0 pts ($0) | $3,146/mo | $103,670 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 5.996% | 6.146% | 0 pts ($0) | $3,151/mo | $103,907 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,833/mo | $89,611 |
Frequently Asked Questions
What are today's mortgage rates in 48380, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48380, , MI is 6.847% (with an estimated monthly payment of $2,913). 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 48380, , 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 48380, , MI have fluctuated between a low of 6.468% 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 48380, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $514,761 in 48380, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $102,952 but keeps your monthly payment lower at $2,913/mo (at 6.847% interest) with no monthly PMI. In comparison, an FHA loan requires only $18,017 (3.5% down) but has an estimated payment of $3,264/mo (at 5.977% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $496,744 falls comfortably within the local HUD FHA loan limit of $541,287 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 48380 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48380 is $806,501. With a typical local home value of $514,761 in , a standard 20%-down mortgage requires a loan size of $411,809. 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 48380, , MI impact estimated mortgage payments?
The median home value in 48380, , MI is estimated at $514,761. Buying a typical home here with a standard 20% down payment ($102,952) translates to an estimated starting monthly mortgage payment of $2,913 (principal and interest). Compared to the local area median household income of $137,846 ($11,487/mo), this basic housing payment represents approximately 25.4% 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.