Rochester Hills, Michigan, is experiencing a strong housing market with steady growth in home prices. The median home price of $400,000 reflects the city's desirability and limited inventory. As a result, homebuyers are competing for a limited number of homes, making it essential to work with a knowledgeable and experienced mortgage lender like NMHL. Our loan officers stay up-to-date on local market conditions and can provide you with the most current information to help you make informed decisions.

Some of the key trends in the Rochester Hills housing market include:

• Steady growth in home prices, with a 5% increase in the past year
• Limited inventory, with fewer than 100 homes available for sale
• Increasing demand for homes in the area, driven by the city's excellent schools and amenities

By understanding these trends, you can make a more informed decision when buying a home in Rochester Hills. Our loan officers are here to guide you every step of the way.

Rochester Hills, Michigan, is comprised of several unique neighborhoods, each with its own character and amenities. Some popular areas include:

• Downtown Rochester Hills: A vibrant area with shops, restaurants, and community events
• Rochester Community Schools: Highly-rated school districts that serve the area
• Rural Rochester Hills: A peaceful and serene atmosphere with larger lots and rural views

Our loan officers can provide more information on these neighborhoods and help you find the perfect community for your needs. We can also guide you through the process of getting pre-approved and finding the perfect home in Rochester Hills.

Property taxes in Rochester Hills, Michigan, average approximately 1.55% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $400,000 home, you can expect to pay around $6,200 per year in property taxes. Our loan officers can help you understand how property taxes will impact your mortgage payment and provide guidance on how to factor them into your homebuying budget.

Some additional details to keep in mind:

• Property taxes are based on the assessed value of the property, which is typically lower than the market value
• Property taxes can be appealed if you believe they are too high
• Our loan officers can help you understand the property tax implications of buying a home in Rochester Hills

Rochester Hills, Michigan, is served by several highly-rated school districts, including Rochester Community Schools. These districts offer a range of educational programs and extracurricular activities, making them an attractive option for families. Our loan officers can provide more information on the school districts in Rochester Hills and help you find the best fit for your family's needs.

Some of the key benefits of the school districts in Rochester Hills include:

• Highly-rated schools with experienced teachers and staff
• A range of educational programs, including STEM and arts programs
• Extracurricular activities, such as sports and music programs

By understanding the school districts in Rochester Hills, you can make a more informed decision when buying a home in the area. Our loan officers are here to guide you every step of the way.

NMHL offers several first-time homebuyer programs in Rochester Hills, Michigan, including FHA loans with 3.5% down payment requirements and VA loans with zero down payment options for eligible veterans. We also provide access to Michigan's Down Payment Assistance Program, which offers up to $7,500 in assistance. Our loan officers can help you explore these options and determine which program is best for you.

Some additional details to keep in mind:

• FHA loans require a credit score of 580 or higher
• VA loans require a Certificate of Eligibility from the Department of Veterans Affairs
• Michigan's Down Payment Assistance Program is available to first-time homebuyers who meet certain income and credit requirements