Detroit, MI Home Loans
Metro Detroit Home Loans for City Neighborhoods and Suburbs
Metro Detroit offers everything from restored Corktown rowhouses to brick ranches in Livonia. We help buyers across Wayne, Oakland and Macomb Counties choose between FHA, VA, conventional and renovation loans and get a strong pre-approval before touring homes.
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Your Detroit Lender
Financing Homes in Michigan's Automotive Capital
Detroit is Michigan's largest metro and the heart of the American auto industry, with the Big Three, suppliers, engineering firms and hospitals employing people from Dearborn to Auburn Hills. Those jobs bring overtime, shift premiums, bonuses and union contracts, and Sterling Smith knows how to document each one for underwriting. We serve metro Detroit through our broader Michigan home loan coverage with online applications and quick responses by phone or text.
Buyers here include first-timers moving out of apartments, families upsizing to Oakland County suburbs and rehabbers restoring city homes. Some relocate within the state and compare Detroit with homes in Grand Rapids or the Lansing area. City or suburb, the first steps are a pre-qualification with no hard pull and a payment estimate from our mortgage payment calculator. From there, we narrow the programs that fit your credit, savings and timeline.
Start your Detroit pre-approval →Neighborhoods & Nearby
Communities we serve around Detroit
- Warren
- Dearborn
- Troy
- Livonia
- Royal Oak
Local Market Notes
Bungalows, Colonials and Revitalized City Blocks
The metro's housing stock is dominated by brick: bungalows in Warren and Royal Oak, center-entrance colonials in Livonia and Troy, and historic homes in neighborhoods like Boston-Edison and Indian Village. Many were built in the mid-twentieth century with full basements, so moisture, sewer lines and aging electrical systems deserve close inspection. Many of these homes were built to last, but decades of Michigan winters take a toll on roofs and chimneys.
Inside the city, revitalized areas like Midtown, Corktown and the riverfront have drawn new buyers, while other blocks offer older homes in need of work. Property tax and insurance costs vary by municipality, so we estimate both before you commit. Suburban commuters rely on I-75, I-94, I-696 and the Lodge Freeway, which shape where many families choose to live. Shorter drives often carry a premium in price.
Loan Programs
Loan Programs Built for Metro Detroit
Renovation financing for city homes
A sturdy brick house with dated systems can be a smart buy. Renovation financing folds the price of a Detroit fixer and its upgrades, say a new roof, furnace or kitchen, into one mortgage sized to the value after the work. Approval rests on contractor bids, the appraisal and program guidelines.
VA loans for Selfridge families
Selfridge Air National Guard Base in Macomb County supports many service members and Guard households. Eligible metro Detroit veterans and service members can usually buy with VA financing, putting nothing down and paying no monthly mortgage insurance, and FCM charges no lender fees.
FHA loans for suburban starter homes
FHA lets qualifying borrowers start at 3.5% down, a common route into Warren, Dearborn Heights or Westland. Flexible debt-to-income guidelines can also help households carrying car payments, a common reality in the Motor City. Detroit-area buyers should also confirm the home meets FHA property standards.
Before You Buy
Detroit-Area Buying Tips
- Scope the sewer line on any older Detroit house; tree roots and decades-old clay pipe show up often in mature neighborhoods and get expensive once the home is yours.
- Ask your agent about the city's or suburb's point-of-sale or certificate-of-occupancy rules, since some municipalities require inspections or repairs before a sale can close, and budget accordingly.
- Sitting on equity and juggling high-rate car or card balances? Weigh a cash-out on our refinancing solutions page against what you pay now.
Answers
Detroit mortgage questions
Can I buy and renovate a Detroit house with one loan?
Yes. A renovation loan bundles the purchase and the planned repairs into a single mortgage. Approval leans on the projected after-repair value and on your contractor's bids. It is a practical way to buy in revitalizing neighborhoods without needing separate construction funds.
Do Detroit suburbs require inspections before a home sale?
Some do. Several metro Detroit cities have point-of-sale inspection or certificate requirements, and repairs may be needed before closing or escrowed. The rules differ by municipality. Check your city's rules early and tell us, so the inspection, title work and closing date all line up.
Can I qualify using overtime from an auto plant?
Auto-plant and hospital overtime usually counts when you have a steady record of it and your employer expects it to continue. Underwriters typically average it over time, so seasonal swings are smoothed out. Hand over recent stubs and W-2s, and Sterling Smith will work out your qualifying income before you tour.
What credit score do I need to buy a home in metro Detroit?
It depends on the loan. FHA is generally the most forgiving on credit, VA has flexible guidelines for eligible borrowers, and conventional pricing improves with higher scores. Begin with a pre-qualification that skips the hard pull, then read our mortgage FAQ on how credit scores move pricing.
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Talk with Sterling Smith about your Detroit purchase or refinance: a clear comparison of the programs you qualify for and a timeline that fits your contract.