Benzinga has researched the best mortgage lenders to show you the best mortgage lenders in Kalamazoo, Michigan for buying a home or refinancing.

Best Mortgage Lenders in Kalamazoo, Michigan

Luxury mortgage

Avg. Days before loan closing

30 – 40

Exam in 1 minute

Luxury Mortgage offers standard products such as Conventional Loans, VA Loans, Jumbo Loans, and FHA Loans. It also offers more specialized products such as bank statement loans, asset-qualifying mortgages, and no-doc home loans. If you’ve had trouble finding a mortgage due to irregular income, being retired, or buying an investment property, Luxury Mortgage is worth a look.

Best for

  • Independent professionals
  • Retired
  • Investors
  • Condominium buyers
Advantages
  • Wide variety of mortgage products
  • Niche products like bank statement loans
  • Works with many state homebuyer assistance programs
The inconvenients
  • Only available in 29 states

Rocket Mortgage

Rocket Mortgage

To start

securely through the Rocket Mortgage website

Avg. Days before loan closing

30

Exam in 1 minute

Rocket Mortgage is one of the best mortgage lenders around, making it easy to apply for a home loan completely online. Its streamlined pre-approval process and quick access to customer service sets it apart from other online lenders. Rocket Mortgage offers a wide variety of mortgages and is backed by the largest mortgage lender, Quicken Loans. Whether you need help or know exactly what you’re looking for, Rocket Mortgage connects you to the right type of mortgage and helps you complete your application quickly online.

Best for

  • Homebuyers looking to complete the mortgage application process on their own
  • Homebuyers who have found their dream home and are looking to get through the approval process quickly
  • Homebuyers with good credit ratings looking to review their mortgage options
  • Current owners looking to refinance in the next few months
Advantages
  • Rocket Mortgage lets you move forward at your own pace, guiding you every step of the way. After you answer all of the application questions, Rocket Mortgage lets you know if you’re approved and displays your personalized mortgage recommendations
  • You can submit checking and savings account information, tax returns, and other financial documents online – a feature that sets Rocket Mortgage apart from online competitors.
  • RateShield lets you lock in your Rocket Mortgage approved rate for up to 90 days
  • The home loan application process can be completed in minutes, letting you know immediately if you qualify for a mortgage.
  • The online software allows you to navigate through the home buying process, from approval to closing the home. Once you’re approved and make an offer on your home, Rocket Mortgage has online tools to help you through the rest of the closing process.
The inconvenients
  • Although Rocket Mortgage has customer service specialists ready to answer your questions and advise you, if you prefer to sit face-to-face when filling out financial forms, this lender might not be right for you.
  • You can’t easily see all of Rocket Mortgage’s home loan options before you apply. It offers conventional, FHA, USDA, and VA loans, but you’ll need to apply to learn more about the types of mortgages within those offerings and which ones you’re eligible for.

New US funding

New US funding

To start

securely through the New American Funding website

loanDeposit Mortgage

loanDeposit Mortgage

Compare lenders

securely through the LoanDepot Mortgage website

United Veterans Mortgage

United Veterans Mortgage

To start

securely through the Veterans United Mortgage website

Avg. Days before loan closing

30

Exam in 1 minute

Veterans United is dedicated to helping veterans and current military personnel find the right mortgage for their needs. It is licensed in all 50 states and the District of Columbia and is the nation’s leading VA lender. If you are currently serving or are a veteran, Veterans United is worth considering due to its outstanding customer service and range of mortgage options.

Best for

  • Current service members
  • Veterans
  • First time home buyers
Advantages
  • 24/7 customer service
  • Offers VA purchase and refinance loans
  • Offers credit counseling through its Lighthouse program
The inconvenients
  • Branches in only 18 states

Guaranteed rate mortgage

Guaranteed rate mortgage

See also: Best mortgage lenders in Michigan

Kalamazoo is known as both “The Paper City” and “The Celery City”. It is a medium-sized city of 73,598 inhabitants, located equidistant from Chicago and Detroit. It is Michigan’s 16th largest city and home to the famous Kalamazoo outdoor mall. Gibson Guitars was founded in Kalamazoo, along with Checker Cabs. However, Kalamazoo is widely known as a college town, home to Western Michigan University, Kalamazoo College, and Kalamazoo Valley Community College.

Notable companies in the region include Stryker, Pfizer and Nxtwall.

Kalamazoo real estate market.

The median home value in Kalamazoo is currently $163,674. The average annual appreciation rate has increased by 5.3% in this market over the past 10 years. Being a popular college town, renters make up almost 60% of the real estate market here. The average market rental price is $1,170.

Homes in this market are primarily single-family homes and small to mid-size apartments (2-3 bedrooms) built between 1940 and 1970. Many Kalamazoo residents are either currently enrolled in college or have recently graduated. Young professionals and service providers with a range of blue-collar and white-collar jobs make up Kalamazoo’s workforce.

Coins of Texas
Dougherty’s Corners
Cooper
Westwood
Northwood
Alamo
East Cooper
Osthemo
Milwood
Oak wood

Nearby communities

battle stream
Galesburg
Lawton
Mattawan
otsego
Parchment
paw paw
Plainwell
Carrying
earth-rich
Scott

Current Mortgage Rates in Michigan

The interest rate on your loan is called your mortgage rate. This is primarily determined by your credit score, but your down payment, home location, mortgage type, and mortgage term also play a role in determining your mortgage rate.

Mortgage rate averages vary from city to city, but you can get a good idea of ​​your expected rate by looking at your state’s average rates. Here’s a quick look at average mortgage rates for Michigan’s most popular mortgage terms.

Type of loan Rate APR
30 years fixed

3.734%

3.815%

15 years fixed

2.823%

2.939%

7/1 ARM (adjustable rate)

N / A

N / A

5/1 ARM (adjustable rate)

N / A

N / A

Rates based on an average home price of $173,277 and a 20% down payment.

Rocket Mortgage® is an online mortgage experience developed by Quicken Loans®, America’s largest mortgage lender. Rocket Mortgage® makes getting a mortgage easy – just tell the business about yourself, your home, your finances and Rocket Mortgage® gives you real interest rates and numbers. You can use Rocket Mortgage® to get approved, ask questions about your mortgage, manage your payments and more.

You can work at your own pace and someone is always there to answer your questions, 24 hours a day, 7 days a week. Looking for a quick and convenient way to get a mortgage? Try Rocket Mortgage®.