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Find the Best Mortgage Lenders in Detroit, MI

Detroit hasn’t seen a housing market boom like this for quite some time. Home sales are up, and while prices are creeping up, too, the majority of neighborhoods have many affordable homes. Whether you’re ready to buy or just starting to think about it, stay informed with our guide to popular neighborhoods. We researched the best mortgage companies in Detroit to help finance your investment.

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Compare Top Mortgage Lenders

Overall satisfaction rating
  • Available in Detroit
  • Personalized programs
  • Low down payment options
  • Jumbo loan plans

Learn about your home loan options!

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Quicken Loans
  • FHA loans
  • Compare options online
  • Popular in Detroit
  • Online mortgage calculator
1050 Woodward Ave.
Detroit, MI 48226
(800) 769-6133
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Detroit Home Mortgage
  • Refinancing plans
  • Down payment assistance
  • Online loan courses
  • Community Reinvestment Fund, USA partner
5 particpating banks in
Detroit, MI
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Riverbank Finance
  • Purchase loans
  • Home value estimator
  • Refinance loans
  • Online loan application
3205 Eagelcrest Dr., NE Ste. 206
Grand Rapids, MI 49525
(800) 555-2098
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HomeSure Lending
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • homesurelending.com
1001 Woodward Ave.
Detroit, MI 48226
(313) 960-4150
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • homelendingadvisor.chase.com/Detroit-MI
685 St. Clair Ave.
Grosse Pointe, MI 48230
(313) 640-9501
One Reverse Mortgage
  • M-Sat: 9am - 9pm
  • Closed Sun
  • onereversemortgage.com
644 Woodward Ave.
Detroit, MI 48226
(800) 401-8114
Accredited Partner
American Mortgage
Overall satisfaction rating
  • M-F: 8:30am - 5pm
  • Closed Sat and Sun
  • americanmortgage.com

American Equity is an annuity provider that sells multiple types of annuities in all 50 states and the District of Columbia. They are a publically-traded company that is American-owned and operated.

1249 Washington Blvd.
Detroit, MI 48226
(888) 421-9600
Top Flite Financal
  • M-F: 8:30am - 5:30pm
  • Closed Sat and Sun
  • topflitefinancial.com
123 E. Grand River Ave.
Williamston, MI 48895
(517) 655-2140

How to choose a mortgage lender in Detroit

detroit skyline

Now is a great time to buy a house in Detroit. With more than 200 neighborhoods, the Detroit housing market has options for every budget. The downtown core and surrounding neighborhoods have some of the best houses on the market right now, with median values between $300,000 to $730,000. A few scattered high-end neighborhoods have even nicer homes with prices to match.

The Midtown and Downtown area lofts and condos are wildly popular, but are too pricey for many buyers. The price range in those areas isn’t the norm for Detroit, where the majority of neighborhoods are classified as up-and-coming or high-value for long-term investment.

Three bedroom homes in up-and-coming neighborhoods have a median value of $166,000, which is about 12 percent less than the national average of $188,000.

In investment neighborhoods, median price for a fully-renovated home of the same size is $69,333, a whopping 63 percent less than the national average. These neighborhoods also have a large amount of even cheaper homes, perfect for someone who enjoys renovations or has ever dreamed of flipping a house.

The best neighborhoods for first-time home buyers looking to move to the city are (from most expensive to least): Lafayette Park, East English Village, Bagley and North End. All four areas have rising home values and are popular among current residents and prospective buyers.

Lafayette Park: Median home value: $108,000
  • Beautiful, modern lofts
  • Millennial hotspot
  • Proximity to restaurants, bars
  • Lafayette Park

East English Village: Median home value: $59,600
  • Unique architecture
  • Safe neighborhood
  • Cultural diversity
  • Neighborhood association
  • Proximity to downtown
  • Nearby shopping
  • Proximity to I-94

Bagley: Median home value: $57,600
  • Nearby parks
  • Proximity to universities
  • Proximity to M-10
  • Beautiful homes
  • Quiet neighborhoods
  • Active community
  • Community and development planning underway

North End: Median home value: $52,500
  • Unique architecture
  • Five minutes from downtown
  • New developments underway
  • Cultural diversity
  • Creative/entrepreneurial community
  • Proximity to multiple highways

A great resource on affordable housing in the City is the Detroit Land Bank Authority. For a closer look at Detroit’s neighborhoods, check out theneighborhoods.org, a publication of the City of Detroit.

If you’re serious about buying a home, the first thing to do is check your credit score and get pre-approved for a mortgage loan. Quicken Loans, headquartered downtown, is the metro Detroit area’s most popular mortgage lender.

Mortgages in Detroit are mostly conventional loans—with three to 20 percent of the purchase price up-front—and FHA loans, which are backed by the Federal Housing Administration and make it possible for people with not-so-great credit to obtain a mortgage. VA loans (for veterans) and USDA agricultural land loans (in eligible rural areas) are also popular with first-time homebuyers in Michigan.

Detroit Mortgage Companies Reviews

Accredited Partner


Customers say AmeriSave has one of the easiest and most transparent application processes. Reviews note helpful loan officers, a wide variety of financing options, great technology and quick turn-around times as some of the best things about working with this mortgage lender.


Quicken Loans

Headquartered in Detroit and one of the area’s largest employers and developers, Quicken Loans is the first-stop for many Detroiters when comparing lenders. Quicken specializes in conventional and FHA loans, but has a variety of other options. Customer reviews have two trends: five stars or one star, with an average rating of four stars.

Quicken Loans

Detroit Home Mortgage

Detroit Home Mortgage is as close to borrowing from a non-profit as possible, with their focus on revitalizing Detroit’s neighborhoods and practice of only lending to people buying homes within the city. They are known for lending up to $75,000 more than the appraised value to encourage home improvements and renovations.

Detroit Home Mortgage

Riverbank Finance

This Grand Rapids mortgage company offers competitive rates and loan options to homebuyers throughout Southeast Michigan. They employ agents with in-depth knowledge about the Detroit marketplace and have several Detroit home loan programs. The terms “it was a pleasure working with” and “best experience” frequently appear in online reviews.

Riverbank Finance