Detroit Metro
Mortgages in Detroit, with the local costs included
Rates are national. Payments are local. These pages cover what buyers in Wayne, Oakland and Macomb actually deal with: taxes, insurance, older housing stock and the programs that help.
Rates
Mortgage rates today
Illustrative local pricing and the costs that sit on top of the rate.
Read more →First-time buyers
How to buy a house in Detroit
The step-by-step sequence, including city programs and older housing stock.
Read more →Refinance
Refinancing in Detroit
Break-even math with Michigan taxes and insurance.
Read more →Programs
Loan programs
FHA, VA, USDA, MSHDA, down payment assistance and renovation loans.
Read more →Local pricing
What a Detroit payment looks like
The rate is only part of it. Property taxes vary by municipality, and insurance in parts of Wayne County can run well above the suburbs. Use the payment calculator to add both.
Detroit rate overviewPayment calculator| Loan type | Rate | APR |
|---|---|---|
| 30-year fixed | 6.50% | 6.71% |
| 30-year FHA | 6.25% | 6.97% |
| 30-year VA | 6.00% | 6.24% |
| 15-year fixed | 5.88% | 6.05% |
| FHA 203(k) rehab | 6.45% | 7.05% |
| MSHDA-assisted 30-year | 6.50% | 6.85% |
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Lenders serving Detroit Metro can appear in the sponsored rail beside articles for their area. Labeled, capped at two cards per article, no lead resale.
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