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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 | 7.010%APR 7.053% | 0 pts$0 | $1,128/moP&I $1,128 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.104%APR 6.881% | 0 pts$0 | $1,124/moP&I $1,045 · MI $79 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.270%APR 6.334% | 0 pts$0 | $1,045/moP&I $1,045 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.024%APR 7.068% | 0 pts$0 | $1,129/moP&I $1,129 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.736% | 0 pts$0 | $1,199/moP&I $1,199 · 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 | 6.270% | 6.334% | 0 pts ($0) | $1,454/mo | $29,865 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.125% | 6.189% | 0 pts ($0) | $1,801/mo | $40,569 |
Condo 10% Down | 10% | 720 credit score | 7.355% | 7.535% | 0 pts ($0) | $1,313/mo | $46,292 |
Conventional 10% Down | 10% | 720 credit score | 6.822% | 6.989% | 0 pts ($0) | $1,245/mo | $43,230 |
Conventional 20% Down | 20% | 740 credit score | 7.010% | 7.053% | 0 pts ($0) | $1,128/mo | $35,068 |
Conventional 5% Down | 5% | 700 credit score | 7.118% | 7.606% | 0 pts ($0) | $1,354/mo | $47,426 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.461% | 7.508% | 0 pts ($0) | $1,474/mo | $50,842 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,253/mo | $42,443 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.882% | 7.266% | 0 pts ($0) | $1,350/mo | $48,812 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.024% | 7.068% | 0 pts ($0) | $1,412/mo | $48,052 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,747/mo | $41,648 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.104% | 6.881% | 0 pts ($0) | $1,260/mo | $44,376 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,283/mo | $44,898 |
FHA Streamline Refi | 0% | 640 credit score | 6.298% | 7.079% | 0 pts ($0) | $1,333/mo | $47,242 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.075% | 7.327% | 0 pts ($0) | $1,348/mo | $48,975 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,324/mo | $25,929 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.736% | 0 pts ($0) | $1,124/mo | $35,822 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,141/mo | $35,655 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,231/mo | $37,741 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.464% | 7.247% | 0 pts ($0) | $1,309/mo | $46,627 |
Second Home 10% Down | 10% | 720 credit score | 6.105% | 6.688% | 0 pts ($0) | $1,155/mo | $39,119 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,113/mo | $34,425 |
VA 0% Down | 0% | 700 credit score | 6.121% | 6.372% | 0 pts ($0) | $1,313/mo | $43,541 |
VA Cash-Out Refi | 0% | 640 credit score | 6.133% | 6.510% | 0 pts ($0) | $1,315/mo | $43,619 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.129% | 6.288% | 0 pts ($0) | $1,314/mo | $43,593 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,165/mo | $36,850 |
Frequently Asked Questions
What are today's mortgage rates in 48634, , MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 48634, , MI is 7.010% (with an estimated monthly payment of $1,120). Active program rates also include FHA 30-year fixed loans at 6.104% and VA 0%-down fixed loans at 6.121%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 48634, , 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 48634, , MI have fluctuated between a low of 6.902% and a high of 7.146%. 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 48634, , MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $211,682 in 48634, , MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $42,336 but keeps your monthly payment lower at $1,120/mo (at 7.010% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,409 (3.5% down) but has an estimated payment of $1,252/mo (at 6.104% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $204,273 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 48634 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 48634 is $806,501. With a typical local home value of $211,682 in , a standard 20%-down mortgage requires a loan size of $169,346. 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 48634, , MI impact estimated mortgage payments?
The median home value in 48634, , MI is estimated at $211,682. Buying a typical home here with a standard 20% down payment ($42,336) translates to an estimated starting monthly mortgage payment of $1,120 (principal and interest). Compared to the local area median household income of $75,413 ($6,284/mo), this basic housing payment represents approximately 17.8% 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.