The median home price in Dearborn, Michigan is approximately $210,000. Prices vary by neighborhood and property type, with some areas offering more affordable options for first-time buyers. For example, the neighborhood of Wards has a median home price of $190,000, while the neighborhood of Maples has a median home price of $240,000. Contact NMHL for current market data and to discuss your homebuying goals.

NMHL offers a range of mortgage programs in Dearborn, including FHA, VA, conventional, jumbo, and specialty loans. Our loan officers can help you find the best program for your situation, whether you're a first-time buyer, self-employed, or have less-than-perfect credit. For example, our FHA loan program requires a down payment as low as 3.5% and has more lenient credit score requirements. We also offer VA loans with zero-down financing options for eligible veterans.

Property taxes in Dearborn average approximately 1.68% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $210,000 home, you can expect to pay around $3,528 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 decision.

Dearborn has a range of neighborhoods to choose from, each with its own unique character and amenities. Some popular neighborhoods include Wards, Maples, and South Dearborn. Wards is known for its historic homes and tree-lined streets, while Maples offers a mix of older and newer homes. South Dearborn is a more rural area with larger lots and a country feel. Our loan officers can provide more information on the different neighborhoods and help you find the best fit for your needs and budget.

At NMHL, we understand that not everyone has perfect credit. We offer mortgage programs specifically designed for borrowers with less-than-perfect credit. Our loan officers can help you explore options for improving your credit score and qualifying for a mortgage. For example, our FHA loan program has more lenient credit score requirements, and we also offer subprime loans for borrowers with credit scores as low as 580. Contact us to discuss your options and get started on the pre-approval process.

Down payment requirements vary depending on the mortgage program. For example, our FHA loan program requires a down payment as low as 3.5%, while our conventional loan program requires a down payment of 5% or 10%. We also offer VA loans with zero-down financing options for eligible veterans. Our loan officers can help you understand the down payment requirements for different mortgage programs and provide guidance on how to save for a down payment.

Dearborn has a range of school districts to choose from, each with its own strengths and weaknesses. The Dearborn Public Schools district is one of the largest in the area, with a range of elementary, middle, and high schools. Other school districts in the area include the South Dearborn Community Schools and the Arab American National Heritage Schools. Our loan officers can provide more information on the different school districts and help you find the best fit for your family's needs.