Best Mortgage Lenders in Lansing, Michigan

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Contributor, Benzinga
January 18, 2022

Benzinga has researched the top mortgage lenders to show you the best mortgage lenders in Lansing, Michigan for buying a home or refinancing.

Best Mortgage Lenders in Lansing, Michigan

Lansing is the capital city of Michigan. The capitol building is widely recognized for its large cast-iron dome. There is a population of 112,644 ethnically diverse people in Lansing and it is the sixth-largest city in the state. 

Its metropolitan area is known as “Mid Michigan '' and is the center of educational, governmental, commercial, and industrial functions and is the third-largest metropolitan area in Michigan. Lansing is commonly known as “The Heart of Michigan” and referred to as “L-Town”. Nearby is Michigan State University, a large university enrolling more than 50,000 students and rated in the top 6% of global universities. 

Lansing Real Estate Market

The median home value in Lansing is $113,193. The real estate market has seen an average annual appreciation rate increase of 5.37% over the last 10 years. While about half of the population in Lansing are homeowners, the other half make up the rental market. Average rentals here are $1,128 per month. 

Most homes are mid-sized single-family homes, with some apartment complexes. Many residents are young, single professionals working in technology and health care fields. There is also a wide variety of both white and blue-collar jobs among those residing in Lansing. 

Delta Mills
Delta Center
Clinton Village/Valley Farms
Edgemont Park
West Windsor/Whaley Drain
Delta River Dr/Josette Ln
Lockwoode Ct/Moorwood Dr

Nearby Communities

East Lansing
Grand Ledge

Current Mortgage Rates in Michigan

The interest rate on your loan is referred to as your mortgage rate. This is primarily determined by your credit score, but your down payment, home location, mortgage type and mortgage term also play a role in determining your mortgage rate. 

Mortgage rate averages range from city to city but you can get a good idea of your expected rate by viewing your state’s average rates. Here’s a quick look at average mortgage rates for the most popular mortgage terms in Michigan.

Loan TypeRateAPR
30-year fixed N/A N/A
15-year fixed N/A N/A
7/1 ARM (adjustable rate) N/A N/A
5/1 ARM (adjustable rate) N/A N/A
Rates based on an average home price of $173,277 and a down payment of 20%.
See more mortgage rates on Zillow

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