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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 | 6.977%APR 7.016% | 0 pts$0 | $1,477/moP&I $1,477 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.962%APR 6.733% | 0 pts$0 | $1,456/moP&I $1,352 · MI $104 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.189%APR 6.245% | 0 pts$0 | $1,362/moP&I $1,362 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.995%APR 7.034% | 0 pts$0 | $1,480/moP&I $1,480 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.711% | 0 pts$0 | $1,575/moP&I $1,575 · 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 | 6.189% | 6.245% | 0 pts ($0) | $1,901/mo | $38,728 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.079% | 6.135% | 0 pts ($0) | $2,360/mo | $52,948 |
Condo 10% Down | 10% | 720 credit score | 7.304% | 7.478% | 0 pts ($0) | $1,717/mo | $60,456 |
Conventional 10% Down | 10% | 720 credit score | 6.798% | 6.960% | 0 pts ($0) | $1,632/mo | $56,636 |
Conventional 20% Down | 20% | 740 credit score | 6.977% | 7.016% | 0 pts ($0) | $1,477/mo | $45,868 |
Conventional 5% Down | 5% | 700 credit score | 7.120% | 7.606% | 0 pts ($0) | $1,780/mo | $62,348 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.424% | 7.466% | 0 pts ($0) | $1,931/mo | $66,511 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,646/mo | $55,783 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.839% | 7.218% | 0 pts ($0) | $1,766/mo | $63,803 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.995% | 7.034% | 0 pts ($0) | $1,850/mo | $62,911 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,296/mo | $54,737 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.962% | 6.733% | 0 pts ($0) | $1,631/mo | $57,158 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,686/mo | $59,010 |
FHA Streamline Refi | 0% | 640 credit score | 6.086% | 6.859% | 0 pts ($0) | $1,713/mo | $60,286 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.077% | 7.325% | 0 pts ($0) | $1,772/mo | $64,384 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,741/mo | $34,078 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.711% | 0 pts ($0) | $1,477/mo | $47,080 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,499/mo | $46,861 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,618/mo | $49,603 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.326% | 7.103% | 0 pts ($0) | $1,695/mo | $60,147 |
Second Home 10% Down | 10% | 720 credit score | 6.074% | 6.652% | 0 pts ($0) | $1,513/mo | $51,181 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,463/mo | $45,244 |
VA 0% Down | 0% | 700 credit score | 6.088% | 6.335% | 0 pts ($0) | $1,720/mo | $56,944 |
VA Cash-Out Refi | 0% | 640 credit score | 6.092% | 6.464% | 0 pts ($0) | $1,721/mo | $56,978 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.083% | 6.238% | 0 pts ($0) | $1,719/mo | $56,901 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,531/mo | $48,432 |
Frequently Asked Questions
What are today's mortgage rates in Woodhaven-Brownstown, MI across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Woodhaven-Brownstown, MI is 6.977% (with an estimated monthly payment of $1,658). Active program rates also include FHA 30-year fixed loans at 5.962% and VA 0%-down fixed loans at 6.088%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Woodhaven-Brownstown, 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 Woodhaven-Brownstown, MI have fluctuated between a low of 6.865% and a high of 7.119%. 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 Woodhaven-Brownstown, MI?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $278,212 in Woodhaven-Brownstown, MI, a standard 20%-down Conventional loan requires an upfront cash down payment of $55,642 but keeps your monthly payment lower at $1,658/mo (at 6.977% interest) with no monthly PMI. In comparison, an FHA loan requires only $9,737 (3.5% down) but has an estimated payment of $1,830/mo (at 5.962% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $268,475 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 Woodhaven-Brownstown before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Woodhaven-Brownstown is $806,501. With a typical local home value of $278,212 in , a standard 20%-down mortgage requires a loan size of $222,570. 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 Woodhaven-Brownstown, MI impact estimated mortgage payments?
The median home value in Woodhaven-Brownstown, MI is estimated at $278,212. Buying a typical home here with a standard 20% down payment ($55,642) translates to an estimated starting monthly mortgage payment of $1,658 (principal and interest). Compared to the local area median household income of $87,938 ($7,328/mo), this basic housing payment represents approximately 22.6% 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.