Pontiac is quietly becoming the most affordable turnaround story in metro Detroit. Inventory sits at 1.8 months—half the regional average—while days on market have fallen to 14, per Realcomp data. Median list prices hover at $175,000, but competitive bids push final sale prices 8–12 % higher, especially under the $225 k sweet spot. Investors still control roughly 30 % of transactions, yet owner-occupants are gaining ground thanks to down-payment assistance and aggressive FHA renovation lending.

• Price per square foot averaged $114 in 2023, up 15 % year-over-year.
• New listings under $200 k are down 22 %, so speed matters.
• Foreclosure filings dropped to 68 city-wide last year, the lowest since 2005.

NMHL tracks every closing card in the city; we update our rate sheets daily so your pre-approval reflects real market conditions, not outdated guesses.

First-time buyers usually land in one of three corridors, each with a different vibe and price point.

University Place: Tree-lined streets, 1920s bungalows, walking distance to downtown eateries. Median sale price $165 k; expect 1,200 sq ft, two-bed, one-bath homes perfect for FHA 203(k) cosmetics.

Fairgrove-Upland: Blocks of brick ranches with driveways and 7,000-sq-ft lots. Good for growing families, $185 k median, and the neighborhood association hosts free movies at Fairgrove Park every August.

Downtown Loft District: If you crave exposed brick and a three-minute walk to work, the 2005-converted warehouses on Saginaw Street offer 1,400-sq-ft units with secured parking. HOAs run $180–$220, but you’re inside the Qualified Census Tract, so FHA will insure with a 620 score and gift funds allowed.

Oakland County sends summer and winter tax bills; Pontiac’s millage combines city, schools, library, parks, and the Oakland Community College levy. The headline 54.3 mills sounds painful until exemptions kick in.

• Principal-Residence Exemption: knocks off 18 mills for owner-occupants.
• Poverty-Tax Waiver: if household income is below 140 % of HUD Area Median, you can petition the city treasurer for an additional 9-mill reduction.
• SAW Grant: qualified seniors can defer summer taxes at 3 % simple interest.

On a $175 k taxable value, the net annual tax after exemptions lands near $2,570—still below Detroit’s effective 43 mills. NMHL escrows taxes at the full 54.3 mills up front, then refunds the difference once you file your affidavit, keeping your closing smooth and compliant.

National Mortgage Home Loans keeps specialty products on the shelf for the very situations Pontiac buyers face every day.

Bad Credit FHA: 550–579 scores welcomed with 10 % down, manual underwrite, and two months of reserves. We recently closed on a $139 k bungalow on Atkinson for a buyer rebuilding after medical collections.

Bank Statement Premier: 12 or 24 months of business statements, 90 % LTV up to $1 m, no MI. Perfect for the film-production freelancers working at the new Lafayette Place studios.

VA Renovation: Combine purchase and rehab up to $1.5 m with only the VA funding fee rolled in. A veteran bought a $225 k duplex on Whittemore, added $55 k in kitchens, and still hit 100 % financing.

MSHDA + FHA Combo: $10,000 DPA at 0 % deferred for five years layered on top of 3.5 % down FHA. We can close in 30 days if you complete the online homebuyer class before underwriting.

Oakland County is generous if you know where to stack:

1. MSHDA Down-Payment Initiative: up to $10,000 at 0 % interest, forgiven after five years in the home. Combine with FHA or conventional 97.
2. City of Pontiac Homeownership Grant: $5,000 forgivable after three years; funds can go toward closing, down payment, or essential repairs identified in the inspection.
3. Oakland County MI Next Home: $7,500 silent second, forgiven after year five. Income limits 80 % AMI.
4. FHLB Indianapolis Homeownership Set-Aside: $7,500 matching grant—NMHL is a member institution and reserves funds every April.

On a typical $160 k purchase, stacking MSHDA + Pontiac Grant + FHLB yields $22,500 in assistance—enough to cover the 3.5 % FHA down payment, most closing costs, and still leave $4,000 for new appliances.

Veteran Duplex Hack: Air Force reservist bought a 1925 duplex on Rapid Street for $205 k, used VA with 0 % down, collected $1,350 from the upstairs tenant while living mortgage-free downstairs.

Self-Employed Photographer: 24-month business statements averaged $9,400 monthly; NMHL approved a $300 k loft at 90 % LTV with no PMI under our Non-QM program—closed in 21 days to beat a cash investor.

Credit-Rebound Buyer: Single mom raised her score from 490 to 620 in eight months using our free credit-coach portal; closed on a $155 k rehabbed ranch on Martin Luther King with MSHDA DPA and only $1,000 out-of-pocket.

Every scenario is uploaded to our Pontiac dashboard so we can replicate what works and avoid what doesn’t.