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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 | 6.897%APR 6.933% | 0 pts$0 | $2,011/moP&I $2,011 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.043%APR 6.813% | 0 pts$0 | $2,015/moP&I $1,872 · MI $142 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.992%APR 6.043% | 0 pts$0 | $1,830/moP&I $1,830 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.929%APR 6.966% | 0 pts$0 | $2,018/moP&I $2,018 · MI $0 | See details |
| Investment Property FixedConforming | 7.623%APR 7.664% | 0 pts$0 | $2,162/moP&I $2,162 · 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 | 5.992% | 6.043% | 0 pts ($0) | $2,577/mo | $51,415 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.954% | 6.005% | 0 pts ($0) | $3,213/mo | $71,295 |
Condo 10% Down | 10% | 720 credit score | 7.151% | 7.319% | 0 pts ($0) | $2,322/mo | $81,397 |
Conventional 10% Down | 10% | 720 credit score | 6.596% | 6.752% | 0 pts ($0) | $2,194/mo | $75,649 |
Conventional 20% Down | 20% | 740 credit score | 6.897% | 6.933% | 0 pts ($0) | $2,011/mo | $62,223 |
Conventional 5% Down | 5% | 700 credit score | 7.010% | 7.488% | 0 pts ($0) | $2,416/mo | $84,376 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.339% | 7.378% | 0 pts ($0) | $2,628/mo | $90,315 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,260/mo | $76,568 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.806% | 7.181% | 0 pts ($0) | $2,416/mo | $87,209 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.929% | 6.966% | 0 pts ($0) | $2,522/mo | $85,594 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,151/mo | $75,133 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.043% | 6.813% | 0 pts ($0) | $2,258/mo | $79,368 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,314/mo | $80,997 |
FHA Streamline Refi | 0% | 640 credit score | 6.237% | 7.011% | 0 pts ($0) | $2,389/mo | $84,513 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.983% | 7.227% | 0 pts ($0) | $2,409/mo | $87,346 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,389/mo | $46,776 |
Investment Property 25% Down | 25% | 740 credit score | 7.623% | 7.664% | 0 pts ($0) | $2,027/mo | $64,606 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,058/mo | $64,323 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,220/mo | $68,085 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.411% | 7.188% | 0 pts ($0) | $2,348/mo | $83,518 |
Second Home 10% Down | 10% | 720 credit score | 5.943% | 6.515% | 0 pts ($0) | $2,048/mo | $68,898 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,009/mo | $62,103 |
VA 0% Down | 0% | 700 credit score | 6.036% | 6.280% | 0 pts ($0) | $2,348/mo | $77,553 |
VA Cash-Out Refi | 0% | 640 credit score | 6.049% | 6.418% | 0 pts ($0) | $2,351/mo | $77,705 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.066% | 6.218% | 0 pts ($0) | $2,355/mo | $77,905 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,101/mo | $66,479 |
Frequently Asked Questions
What are today's mortgage rates in 48383, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48383, , MI is 6.897% (with an estimated monthly payment of $2,280). Active program rates also include FHA 30-year fixed loans at 6.043% and VA 0%-down fixed loans at 6.036%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48383, , 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 48383, , MI have fluctuated between a low of 6.517% and a high of 6.975%. 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 48383, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $381,878 in 48383, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $76,376 but keeps your monthly payment lower at $2,280/mo (at 6.897% interest) with no monthly PMI. In comparison, an FHA loan requires only $13,366 (3.5% down) but has an estimated payment of $2,560/mo (at 6.043% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $368,512 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 48383 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48383 is $806,501. With a typical local home value of $381,878 in , a standard 20%-down mortgage requires a loan size of $305,502. 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 48383, , MI impact estimated mortgage payments?
The median home value in 48383, , MI is estimated at $381,878. Buying a typical home here with a standard 20% down payment ($76,376) translates to an estimated starting monthly mortgage payment of $2,280 (principal and interest). Compared to the local area median household income of $107,621 ($8,968/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.