NMHL Mortgage Lending
Mortgage Lender in Farmington Hills, MI
Local expertise and competitive rates for Farmington Hills homebuyers.
Farmington Hills Housing Market Overview
Explore mortgage options in Farmington Hills, MI with NMHL. Our local expertise helps you navigate the Farmington Hills real estate market with competitive rates and personalized service.
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 Farmington Hills
Explore mortgage options tailored to Farmington Hills 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 the Farmington Hills Housing Market
The Farmington Hills housing market is characterized by a mix of older and newer homes, with a range of architectural styles and price points. The median home price is around $340,000, with homes typically staying on the market for around 30-60 days. As a buyer, it's essential to be prepared to act quickly when you find the right property.
NMHL's local expertise and market knowledge make us an ideal partner in navigating this competitive market. We can help you explore various mortgage options and develop a strategy to secure your dream home.
Stay ahead of the competition with NMHL's pre-approval process, which can be completed in as little as 24 hours.
Down Payment Assistance Programs in Michigan
Michigan offers several down payment assistance programs to help homebuyers overcome the upfront costs of purchasing a home. The MSHDA Down Payment Assistance Program, for example, provides up to 3.5% of the home's purchase price for down payment and closing costs. NMHL can help you determine your eligibility for these programs and guide you through the application process.
- MSHDA Down Payment Assistance Program: up to 3.5% of the home's purchase price
- NMHL's Down Payment Assistance Program: available for qualified borrowers
Don't let down payment costs hold you back – explore NMHL's down payment assistance options today.
NMHL Mortgage Programs for Farmington Hills Borrowers
At NMHL, we offer a range of mortgage programs tailored to the needs of Farmington Hills borrowers. Our FHA loan programs, for example, can accept credit scores as low as 580, while our VA loan programs offer competitive rates and terms for eligible veterans. We also offer conventional loans, jumbo loans, and specialty loans for self-employed borrowers.
Our mortgage experts will work with you to determine the best mortgage solution for your financial situation and goals.
Contact NMHL today to explore our mortgage programs and find the best fit for your needs.
Farmington Hills Neighborhoods and Communities
Farmington Hills is a diverse community with a range of neighborhoods to suit different lifestyles and preferences. From the vibrant downtown area to family-friendly communities like Woodcreek and Heritage Park, there's something for everyone in Farmington Hills. Other popular areas include the neighborhoods surrounding Founders Sports Park and the Farmington Hills Nature Center.
NMHL's local knowledge and expertise make us an ideal partner in helping you find the perfect home in Farmington Hills.
Let's find your dream home in Farmington Hills – contact NMHL today to get started.
Frequently Asked Questions
The average property tax rate in Farmington Hills is approximately 1.24% of the home's assessed value. For a median-priced home of $340,000, this translates to around $4,216 per year. It's essential to factor this cost into your mortgage planning to ensure you're prepared for the total cost of homeownership.
Farmington Hills is served by the Farmington Public Schools district, which is known for its high-quality education. Homes within this district tend to retain their value and appreciate over time. In fact, data shows that homes in top-rated school districts like Farmington Public Schools can command a premium of up to 15% compared to similar homes in other districts.
Michigan offers several programs for 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 bad credit can present challenges, NMHL offers mortgage options for borrowers with less-than-perfect credit. Our FHA loan programs, for example, can accept credit scores as low as 580. We'll work with you to explore available options and develop a plan to improve your creditworthiness.
Some of the most sought-after neighborhoods in Farmington Hills include the downtown area, with its vibrant shops and restaurants, as well as family-friendly communities like Woodcreek and Heritage Park. Other popular areas include the neighborhoods surrounding Founders Sports Park and the Farmington Hills Nature Center.
Getting pre-approved for a mortgage with NMHL is straightforward. Simply contact us to schedule a consultation, and we'll review your financial situation and provide a pre-approval letter. This letter will give you a clear understanding of your borrowing power and help you navigate the Farmington Hills housing market with confidence.
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Ready to Buy in Farmington Hills?
Let NMHL help you navigate the Farmington Hills housing market with expert guidance and competitive rates.