NMHL Mortgage Lending
Mortgage Lender in Ann Arbor, MI
Local expertise and competitive rates for Ann Arbor homebuyers.
Ann Arbor's mortgage landscape is shaped by the prestigious University of Michigan, creating a premium market with median home prices around $450,000. As a leading mortgage lender in Ann Arbor, National Mortgage Home Loans (NMHL) understands the unique challenges faced by local borrowers, from students and faculty to long-time residents. Our expertise in serving underserved borrowers, including those with bad credit, self-employed individuals, and first-time homebuyers, makes us the go-to lender in this competitive market.
With NMHL, Ann Arbor borrowers can access a range of mortgage options, including conventional, FHA, and VA loans, as well as specialized programs for those recovering from financial hardship. Our local knowledge extends to Ann Arbor's diverse neighborhoods, from the historic Old West Side to the family-friendly Burns Park area. Whether you're looking to purchase a home in Kerrytown or explore more affordable options in surrounding communities like Ypsilanti or Saline, we're here to guide you through the process.
Ann Arbor Housing Market Overview
Ann Arbor is a premium market driven by the University of Michigan, one of the world's top research universities. The city's educated population, vibrant downtown, and excellent schools command higher prices than anywhere else in Michigan.
Ann Arbor Neighborhoods
Popular areas for homebuyers in Ann Arbor, MI
ZIP Codes We Serve in Ann Arbor
Mortgage lending available in these Ann Arbor ZIP codes
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Ann Arbor
Explore mortgage options tailored to Ann Arbor homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Understanding Ann Arbor's Mortgage Market
Ann Arbor's mortgage market is characterized by high demand and limited inventory, driven in part by the University of Michigan's presence. This demand contributes to higher home prices, with the median home price around $450,000. Borrowers in Ann Arbor can expect to find a range of mortgage options, from conventional loans to government-backed FHA and VA loans.
NMHL serves borrowers across Ann Arbor's diverse neighborhoods, including the popular Old West Side and Kerrytown areas. Our local expertise extends to understanding the nuances of each neighborhood, from property values to local amenities.
NMHL's local knowledge and expertise make us the ideal partner for navigating Ann Arbor's competitive mortgage market.
Exploring Neighborhoods in Ann Arbor
Ann Arbor is home to a variety of unique neighborhoods, each with its own character and charm. From the family-friendly atmosphere of Burns Park to the vibrant downtown area, there's something for everyone. When searching for a home, consider factors like local schools, property taxes, and access to amenities.
- Old West Side: Historic homes and tree-lined streets make this neighborhood a popular choice.
- Kerrytown: Known for its eclectic shops and restaurants, Kerrytown is a hub of activity.
- Burns Park: This family-friendly neighborhood features parks, playgrounds, and top-rated schools.
NMHL can help you find the right mortgage solution for your dream home in Ann Arbor's diverse neighborhoods.
Mortgage Options for Underserved Borrowers
At NMHL, we understand that not all borrowers fit the traditional mold. That's why we offer specialized mortgage programs for underserved borrowers, including those with bad credit, self-employed individuals, and first-time homebuyers. Our bad credit mortgage programs, for example, consider alternative forms of creditworthiness, such as rent payments and utility bills.
For self-employed borrowers, we offer bank statement analysis and other alternative income verification methods. Our experienced loan officers will work with you to understand your unique situation and find the best available mortgage options.
Don't let credit challenges or non-traditional income hold you back from achieving homeownership. NMHL is here to help.
Down Payment Assistance Programs in Michigan
Michigan offers several down payment assistance programs to help homebuyers achieve their goals. The Michigan State Housing Development Authority (MSHDA) Down Payment Assistance Program provides up to 3.5% of the home's purchase price for down payment and closing costs. NMHL can help you navigate these programs and determine your eligibility.
In addition to state-level programs, NMHL offers our own down payment assistance options. Our experienced loan officers can help you explore these programs and find the best fit for your situation.
NMHL can help you access down payment assistance programs and achieve your homeownership goals.
Frequently Asked Questions
Ann Arbor's average property tax rate is 1.87%, which is slightly higher than the state average. This rate applies to the assessed value of your home, and property taxes can impact your overall mortgage costs. NMHL can help you factor these costs into your mortgage planning.
Ann Arbor is served by the highly-rated Ann Arbor Public Schools district, which includes several top-performing schools. Homes located within desirable school boundaries tend to command higher prices due to the district's strong reputation. When searching for a home, consider the local schools and their impact on property values.
Michigan offers several programs to help first-time homebuyers, including the Michigan State Housing Development Authority (MSHDA) Down Payment Assistance Program. This program provides up to 3.5% of the home's purchase price for down payment and closing costs. NMHL can help you navigate these programs and determine your eligibility.
While traditional lenders may have strict credit score requirements, NMHL offers more flexible options for borrowers with less-than-perfect credit. Our bad credit mortgage programs can help you qualify for a mortgage even with a lower credit score. We'll work with you to understand your credit situation and find the best available options.
As a self-employed borrower, you may face unique challenges when applying for a mortgage. NMHL offers specialized programs that consider alternative forms of income verification, such as bank statement analysis. Our experienced loan officers can help you navigate the process and find the right mortgage solution for your situation.
Getting pre-approved for a mortgage with NMHL is a straightforward process. Simply contact one of our experienced loan officers and provide the necessary financial information. We'll review your creditworthiness and provide a pre-approval letter stating the approved loan amount, which is typically valid for 30 days.
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Let NMHL help you navigate the Ann Arbor housing market with expert guidance and competitive rates.