Michigan Mortgage Information

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Current Mortgage Rates
Type of Loan	Rate*        APR*
5 Year ARM	5.821% 5.033%
15 Year Fixed	5.243% 5.288%
30 Year Fixed	5.729% 5.717%
Home Equity Loan	7.420% 5.740%
HELOC	6.305% 6.990%
*Rates & APRs are based on Rate Observer .

Searching for a home equity loan in Michigan?  Home Equity Info can help. We provide information on: Michigan 125 Cash Out Home Equity Loans, Michigan Cash Out Home Equity Loans, Michigan Refinance Loans, Michigan Bad Credit Home Equity Loans, Michigan Home Equity Lines of Credit (HELOC), and Michigan Second Mortgages.  We can also help if you are just looking for more information about Michigan Home Equity Loans in general.

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Worried about the lender?  We are too, so that is why we list out and provide information on all types of Michigan home equity lenders including Credit Unions, Banks, Mortgage Brokers, or Savings and Loans.

Some quick facts on Michigan owner occupied homes with a mortgage¹ :

• The median Michigan home price is $153,933.
• 74.5% of Michigan home owners have only a single mortgage.
• Only 0.9% of Michigan home owners have both a second mortgage and a home equity loan.
• While the median income for all of Michigan is $55,778, the median income for owner occupied homes in Michigan with a mortgage is $63,537.
• The median monthly Michigan housing cost is $1,137.
• Michigan Median Annual real estate taxes are $1,894.
• While the national average Expedian Credit score is 678, the average for Michigan is 680.
• Non-business bankruptcies in Michigan have gone from 35,835 in 2000 to 63,531 in 2004.

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The state regulator for Michigan mortgages is Frank M. Fitzgerald

 STATE OF MICHIGAN
 Office of Financial and Insurance Services
 611 West Ottawa Street
 P.O. Box 30220
 Lansing, Michigan 48909

Phone: (517) 335-3167
Fax: (517) 373-4870

Website: http://www.michigan.gov/cis/0,1607,7-154-10555---,00.html

 The Office of Financial and Insurance Services regulates Michigan mortgage lenders, Michigan brokers and Michigan servicers. Approximately 1,900 lenders, brokers and servicers are licensed in the State of Michigan. Michigan’s licensee list is available off the Division’s Internet site, at http://www.us.state.mi.ofis.

Michigan’s licensing statute for first mortgage lenders, brokers and servicers was originally enacted in 1987. The licensing statute for secondary mortgage lenders, brokers and servicers was enacted in 1981. These statutes are available via the Division’s Internet site² .

Michigan Counties:

Alcona County, Alger County, Allegan County, Alpena County, Antrim County, Arenac County, Baraga County, Barry County, Bay County, Benzie County, Berrien County, Branch County, Calhoun County, Cass County, Charlevoix County, Cheboygan County, Chippewa County, Clare County, Clinton County, Crawford County, Delta County, Dickinson County, Eaton County, Emmet County, Genesee County, Gladwin County, Gogebic County, Grand Traverse County, Gratiot County, Hillsdale County, Houghton County, Huron County, Ingham County, Ionia County, Iosco County, Iron County, Isabella County, Jackson County, Kalmazoo County, Kalkaska County, Kent County, Keweenaw County, Lake County, Lapeer County, Leelanau County, Lenawee County, Livingston County, Luce County, Mackinac County, Macomb County, Manistee County, Marquette County, Mason County, Mecosta County, Menominee County, Midland County, Missaukee County, Monroe County, Montcalm County, Monmorency County, Muskegon County, Newaygo County, Oakland County,Oceana County, Ogemaw County, Ontonagon County, Osceola County, Oscoda County, Otsego County, Ottawa County, Presque Isle County, Roscommon County, Saginaw County, St.Clair County, St. Joseph County, Sanilac County, Schoolcraft County, Shiawassee County, Tuscola County, Van Buren County, Washtenaw County, Wayne County, Wexford County

Source
-US Census

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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.