NMHL Mortgage Lending
Mortgage Lender in Southfield, MI
Local expertise and competitive rates for Southfield homebuyers.
Southfield Housing Market Overview
Southfield is a growing community in Michigan offering diverse mortgage options for homebuyers. Contact NMHL for personalized Southfield mortgage rates and programs.
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 Southfield
Explore mortgage options tailored to Southfield 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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Southfield Housing Market Trends
The Southfield housing market is competitive, with a mix of older and newer homes available. The median home price is around $145,000, and prices vary by neighborhood and property type. Some popular neighborhoods in Southfield include:
- Downtown Southfield: a mix of older and newer homes
- Southfield Public Schools district: serves several popular neighborhoods
- North of 8 Mile Road: offers a range of housing options
- Southfield Civic Center: community amenities and housing options
NMHL's experienced loan officers can help you navigate the local market and find the best mortgage program for your needs.
Contact NMHL for current market data and to get pre-approved for a mortgage.
Property Taxes in Southfield
Property taxes in Southfield average approximately 1.70% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $145,000 home, you can expect to pay around $2,465 in annual property taxes. NMHL's loan officers can help you understand how property taxes will impact your mortgage payment and provide guidance on how to minimize your tax liability.
Factor property taxes into your mortgage payment to ensure you're prepared for homeownership costs.
School Districts in Southfield
Southfield is served by several school districts, including the Southfield Public Schools district, which is highly rated in Michigan. The district serves several popular neighborhoods and offers a range of educational programs. Homebuyers should consider the school district when choosing a neighborhood, as it can impact home values and resale potential.
- Southfield Public Schools district: highly rated in Michigan
- Several popular neighborhoods served by the district
NMHL's loan officers can provide guidance on how school districts impact home values and help you find a mortgage program that fits your needs.
Research school districts in Southfield to ensure you're making an informed decision about your home purchase.
First-Time Homebuyer Programs in Southfield
NMHL offers several first-time homebuyer programs in Southfield, including:
- FHA loans with 3.5% down payment requirements
- VA loans with zero down payment options for eligible veterans
- MI Homebuyer Program: provides up to $7,500 in down payment assistance
Our loan officers can help you understand the benefits and requirements of each program and guide you through the application process.
Explore first-time homebuyer programs in Southfield to see if you're eligible for assistance.
NMHL Programs for Underserved Borrowers
NMHL offers a range of mortgage programs designed to serve underserved borrowers, including:
- Bad credit mortgage options: for borrowers with credit scores as low as 580
- Self-employed mortgage options: for borrowers with non-traditional income documentation
- Veteran mortgage options: for eligible veterans and service members
Our loan officers can help you understand the benefits and requirements of each program and guide you through the application process.
Contact NMHL to learn more about our mortgage programs for underserved borrowers.
Frequently Asked Questions
The median home price in Southfield, Michigan is approximately $145,000. Prices vary by neighborhood and property type. Contact NMHL for current market data and to get pre-approved for a mortgage.
NMHL offers FHA, VA, conventional, jumbo, and specialty mortgage programs in Southfield, Michigan. Our loan officers can help you find the best program for your situation, including options for bad credit, self-employed borrowers, and first-time homebuyers.
Property taxes in Southfield average approximately 1.70% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $145,000 home, you can expect to pay around $2,465 in annual property taxes.
Southfield has several desirable neighborhoods, including the downtown area, which offers a mix of older and newer homes, and the Southfield Public Schools district, which serves several popular neighborhoods. Other areas, such as the North of 8 Mile Road and the Southfield Civic Center, offer a range of housing options and community amenities.
NMHL offers several first-time homebuyer programs in Southfield, including FHA loans with 3.5% down payment requirements and VA loans with zero down payment options for eligible veterans. Additionally, Michigan Housing offers down payment assistance programs, such as the MI Homebuyer Program, which provides up to $7,500 in assistance.
To get pre-approved for a mortgage in Southfield, simply contact NMHL and provide some basic financial information. Our loan officers will review your credit report, income, and other factors to determine how much you can borrow. You can also use our online pre-approval tool to get started.
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Ready to Buy in Southfield?
Let NMHL help you navigate the Southfield housing market with expert guidance and competitive rates.