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Michigan Mortgages (MI)The forecast for Michigan housing is bright; home prices in Michigan have not risen at the frenetic pace of the East and West coasts of the U.S., and therefore are not likely to fall as in those areas of the country that may be experiencing a bubble. So there is less risk associated with purchasing a home in Michigan compared to many other areas of the country. This also makes homes in Michigan relatively affordable compared to many other areas. There is surplus inventory, and mortgage rates fell slightly in early April, making this a good time to purchase or re-finance a home in Michigan. Quick Michigan Housing factsPercent of Michigonians who own a home: 73.8%Percent of Renters in Michigan: 26.2% Median Michigan Household Income: $44,358 Best City to live in Michigan: Rochester, Michigan How much house can I afford in MichiganOne of the biggest problems facing Michigan’s homebuyers is figuring out how much house you can afford. We have some great mortgage calculators that can help you figure how much home will fit into your monthly budget. Don’t forget there are many other home options out there specifically for Michigan’s residences, and we want to help you find them.Refinancing in MichiganWith mortgage rates still at an all time low, now is a great time to refinance for any reason. If you are looking to pull money from your home to pay off debt or if you are looking to lock in a low interest rate with a fixed rate mortgage, there is no better time then today. Most experts agree that rates will rise; it is just a question of when.Request a Michigan Mortgage Quote >>
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