Best Mortgage Lenders in Saginaw, 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 Saginaw, Michigan for buying a home or refinancing.

Best Mortgage Lenders in Saginaw, Michigan

See also: Best Mortgage Lenders in Michigan

Saginaw, or “Land of the Sauks”, is a mid-sized city of 44,202 people. It is located in an area known as Mid-Michigan and is the 29th largest city in Michigan. It's part of the Great Lakes Bay region and used to be known as a major lumber town. Now, Saginaw is known for its manufacturing of auto parts. In addition, there are major coal, petroleum, and salt deposits located nearby. It is also home to several museums, such as the Castle Museum, Marshall M. Frederick’s Sculpture Museum, Mid-Michigan’s Children Museum, and Saginaw Art Museum. Legendary musician Stevie Wonder and tennis star Serena Williams were born in Saginaw.

Saginaw Real Estate Market

The median home value in Saginaw is $46,083. There has been an average annual appreciation rate increase of 4.17% over the last 10 years. While most residents here are homeowners, there is a large rental market as well. The average rental rate is $1,100 per month. Most homes are single-family, mid-sized homes with 3 bedrooms built before 1969. Residents of Saginaw hold a mixture of blue and white-collar jobs mainly in healthcare, manufacturing, and retail. 

Paines/Swan Creek
Buena Vista
Gratiot Rd/N Center Rd

Nearby Communities

Bay City
Birch Run
St. Charles

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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