First Time Homebuyer Loans in Royal Oak
With its affordable cost of living and abundant leisure and economic opportunities, Michigan is a superb state in which to buy your first home.
Mortgage City is here to help you find a mortgage that will maximize your savings now and over the years ahead.
Find the Ideal Loan to Buy Your First Home
Conventional
Many homebuyers choose a conventional conforming loan for their first home purchase. Down payments as low as 3% are available to those with excellent borrower credentials.
FHA
If your credit score doesn’t allow you to qualify for the rates and down payment you want with conventional financing, consider an FHA mortgage. These loans, guaranteed by the Federal Housing Administration, help borrowers without perfect credit buy their first homes with down payments as low as 3.5%.
Jumbo
Buying your first home with a jumbo loan is easier than you think. We can walk you through the jumbo loan application process and help you qualify for competitive rates on your first home loan.
VA
For first time homebuyers with military service records, the VA mortgage program through the Department of Veterans Affairs opens the door to homeownership with zero down and affordable rates. There is no mortgage insurance requirement with this type of home loan.
USDA
A USDA mortgage through the US Department of Agriculture is a guaranteed rural housing loan. You can buy your first home in Michigan with zero down with a USDA loan.
Bank Statement/Non-QM
How do you purchase your first home without a W-2? For borrowers who are self-employed, own their own businesses, or otherwise earn their income outside of traditional employment, we offer a bank statement loan program, making it fast and easy to document income.
Why Choose Us as Your First Mortgage Company?
Here are a few reasons to work with Mortgage City on your first home purchase:
- We focus on relationships. Unlike the big banks, we get to know you, and we make your goals our goals. You can depend on us over the lifetime of your mortgage.
- We take our time with customers. We enjoy explaining how the mortgage process works and making it simple and smooth. If you come into the consult feeling confused or daunted, we want you to leave feeling confident and excited.
- We love working with first time homebuyers. It is one of our favorite parts of what we do. We can help you make smart, informed financial decisions that will save you money now and over the years ahead. We can also assist you with consolidating debt.
- We are here for you. The big banks are only there for you inside their hours, but we are here for you all the time. Anytime you are looking for an update on your mortgage application or you want to ask us a question, a friendly loan expert is just a phone call, email or text away.
Move Into Your First Home With an Affordable Loan
Mortgage City works with first time homebuyers in Royal Oak, Detroit, and throughout Michigan as well as Florida, Ohio, Colorado and Texas.
Whatever your credit score, down payment ability, financial means, and personal goals, we will work tirelessly to help you make your dreams of homeownership come true. To get started, please call us today at (248) 930-8709. Thank you for choosing Mortgage City!