NMHL Mortgage Lending
Mortgage Lender in Lansing, MI
Local expertise and competitive rates for Lansing homebuyers.
Lansing Housing Market Overview
Explore mortgage options in Lansing, MI with NMHL. Our local expertise helps you navigate the Lansing 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 Lansing
Explore mortgage options tailored to Lansing 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 Lansing Housing Market
The Lansing housing market is characterized by a mix of older homes and new constructions, with a median home price of around $140,000. The city is experiencing growth, driven by its strong educational institutions, including Michigan State University. Neighborhoods like Downtown Lansing and Old Town are seeing revitalization efforts, making them attractive to young professionals and families.
Some of the key trends in the Lansing market include:
- Increasing demand for single-family homes
- Growing popularity of urban neighborhoods
- Rising home prices, driven by limited inventory
NMHL's local expertise helps you navigate the Lansing real estate market with confidence.
First-Time Homebuyer Programs in Michigan
Michigan offers several programs to help first-time homebuyers achieve their dream of homeownership. The Michigan State Housing Development Authority (MSHDA) offers the MI First Home program, which provides down payment assistance and competitive interest rates. NMHL is an approved lender for MSHDA programs, making it easier for you to access these benefits.
To qualify, you'll typically need to complete a homebuyer education course, meet income limits, and occupy the property as your primary residence.
Get pre-approved with NMHL today and take advantage of Michigan's first-time homebuyer programs.
NMHL Programs for Underserved Borrowers
At NMHL, we specialize in serving borrowers who may not fit the traditional lending mold. Our programs cater to self-employed individuals, veterans, and those with bad credit. We offer:
- Alternative income verification for self-employed borrowers
- VA loans with zero down payment options
- Specialized loan programs for borrowers with credit scores as low as 580
Our mortgage experts will work with you to find the best solution for your unique situation.
NMHL is committed to helping underserved borrowers achieve homeownership in Lansing.
Property Taxes and Insurance in Lansing
In addition to your mortgage payments, it's essential to consider property taxes and insurance when budgeting for your home in Lansing. The average property tax rate in Lansing is 1.34%, which is relatively low compared to other parts of the state. However, property tax rates can vary depending on the specific location and local tax laws.
Homeowners insurance is also a crucial consideration, with average annual premiums ranging from $800 to $1,200, depending on factors like the home's value, location, and condition.
NMHL can help you factor these costs into your mortgage planning.
Frequently Asked Questions
Mortgage rates in Lansing vary depending on the loan program and your individual financial profile. At NMHL, we offer competitive rates starting from 6.5% APR for a 30-year fixed loan. We recommend contacting us for a personalized rate quote based on your specific situation.
While bad credit can make it challenging to secure a mortgage, NMHL offers specialized loan programs for borrowers with less-than-perfect credit. We consider credit scores as low as 580 for FHA loans and have alternative options for those with even lower scores. Our mortgage experts will work with you to explore the best available options.
The average property tax rate in Lansing is approximately 1.34% of the home's assessed value. This means that on a $140,000 home, you can expect to pay around $1,876 per year in property taxes. It's essential to factor these costs into your homebuying budget.
Yes, there are several down payment assistance programs available to Lansing residents. NMHL offers the Down Payment Assistance Program (DAP), which can provide up to 3.5% of the home's purchase price towards down payment and closing costs. Additionally, the Michigan State Housing Development Authority (MSHDA) offers down payment assistance programs for first-time homebuyers.
School districts play a significant role in determining home values in Lansing. The Lansing School District, along with surrounding districts like Okemos and East Lansing, can impact property prices. Homes in highly-rated school districts tend to appreciate in value over time, making them a valuable investment for families.
Some of the most popular neighborhoods in Lansing include Downtown Lansing, Old Town, and the surrounding areas like East Lansing and Okemos. These neighborhoods offer a mix of historic homes, new developments, and urban amenities, making them attractive to a wide range of buyers.
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Ready to Buy in Lansing?
Let NMHL help you navigate the Lansing housing market with expert guidance and competitive rates.