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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 | 7.020%APR 7.064% | 0 pts$0 | $1,409/moP&I $1,409 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.095%APR 6.872% | 0 pts$0 | $1,401/moP&I $1,302 · MI $99 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.278%APR 6.342% | 0 pts$0 | $1,305/moP&I $1,305 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.962%APR 7.007% | 0 pts$0 | $1,400/moP&I $1,400 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.740% | 0 pts$0 | $1,495/moP&I $1,495 · 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 | 6.278% | 6.342% | 0 pts ($0) | $1,815/mo | $37,310 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.246% | 6.312% | 0 pts ($0) | $2,264/mo | $51,542 |
Condo 10% Down | 10% | 720 credit score | 7.359% | 7.540% | 0 pts ($0) | $1,639/mo | $57,784 |
Conventional 10% Down | 10% | 720 credit score | 6.828% | 6.995% | 0 pts ($0) | $1,554/mo | $53,979 |
Conventional 20% Down | 20% | 740 credit score | 7.020% | 7.064% | 0 pts ($0) | $1,409/mo | $43,816 |
Conventional 5% Down | 5% | 700 credit score | 7.121% | 7.611% | 0 pts ($0) | $1,690/mo | $59,193 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.469% | 7.516% | 0 pts ($0) | $1,841/mo | $63,497 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,563/mo | $52,954 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.884% | 7.268% | 0 pts ($0) | $1,684/mo | $60,915 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.962% | 7.007% | 0 pts ($0) | $1,750/mo | $59,458 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,179/mo | $51,961 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.095% | 6.872% | 0 pts ($0) | $1,571/mo | $55,295 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,600/mo | $56,017 |
FHA Streamline Refi | 0% | 640 credit score | 6.289% | 7.069% | 0 pts ($0) | $1,661/mo | $58,868 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.078% | 7.330% | 0 pts ($0) | $1,682/mo | $61,126 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,652/mo | $32,350 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.740% | 0 pts ($0) | $1,402/mo | $44,693 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,423/mo | $44,485 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,536/mo | $47,087 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.456% | 7.239% | 0 pts ($0) | $1,632/mo | $58,111 |
Second Home 10% Down | 10% | 720 credit score | 6.107% | 6.690% | 0 pts ($0) | $1,441/mo | $48,821 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,389/mo | $42,950 |
VA 0% Down | 0% | 700 credit score | 6.127% | 6.378% | 0 pts ($0) | $1,640/mo | $54,372 |
VA Cash-Out Refi | 0% | 640 credit score | 6.120% | 6.497% | 0 pts ($0) | $1,638/mo | $54,316 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.135% | 6.294% | 0 pts ($0) | $1,641/mo | $54,437 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,453/mo | $45,976 |
Frequently Asked Questions
What are today's mortgage rates in 48627, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48627, , MI is 7.020% (with an estimated monthly payment of $1,104). Active program rates also include FHA 30-year fixed loans at 6.095% and VA 0%-down fixed loans at 6.127%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48627, , 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 48627, , MI have fluctuated between a low of 6.909% and a high of 7.155%. 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 48627, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $264,102 in 48627, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $52,820 but keeps your monthly payment lower at $1,104/mo (at 7.020% interest) with no monthly PMI. In comparison, an FHA loan requires only $9,244 (3.5% down) but has an estimated payment of $1,231/mo (at 6.095% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $254,858 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 48627 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48627 is $806,501. With a typical local home value of $264,102 in , a standard 20%-down mortgage requires a loan size of $211,282. 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 48627, , MI impact estimated mortgage payments?
The median home value in 48627, , MI is estimated at $264,102. Buying a typical home here with a standard 20% down payment ($52,820) translates to an estimated starting monthly mortgage payment of $1,104 (principal and interest). Compared to the local area median household income of $65,368 ($5,447/mo), this basic housing payment represents approximately 20.3% 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.