Get The Best Home Loan Possible with Trusted Michigan Mortgage Brokers

Let your trusted resource for Michigan home loans do the loan shopping for you. – Bolt Lending. 

 
 
 
 

  • Variety of Loan Options

    Bolt Lending works with a variety of lenders to get you the access you need to find the perfect loan option for your Michigan home loan. The best part, you only have to meet with your own Michigan mortgage broker professional to get multiple quotes. You do not have to be inundated with calls, texts, and emails like you are with those online mortgage portals.

  • Commitment to Close

    While we can’t guarantee every loan that walks through our doors will close, we can promise we do our very best to find a way to close your loan. We go above and beyond for our clients in communication and customer service to ensure not only their confidence in their loan, but also to help make their goal of homeownership tangible.

  • Loans to Fit Your Budget

    Every application has its own unique circumstances, which is why you need a Michigan mortgage broker who will tailor a home loan package to your needs. The path to homeownership isn’t as direct as one might assume. Bolt Lending provides the personalization you crave and the options you need.

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Michigan Home Loans for Michiganders from Michiganders

All of the professionals at Bolt Lending are proud to say that our home is and always has been Michigan. We are proud that our roots are here in The Great Lakes State and that is why the well-being of our communities and neighbors are central to everything we do. Home loans and lenders are not necessarily one-size-fits-all. The truth is that different home loans are better for specific home types and financial situations of home buyers. Michigan home buyers deserve mortgage brokers who understand your exact needs. You deserve mortgage brokers who help you select the right home loan for you and not just for their commission. Contact us now to work with your neighborhood, Michigan home loan professional.

FHA Loans for Michigan First-Time Homebuyers

First-time home buyers are facing limited inventory and rising home prices in many of the most popular markets in Michigan. Home loans, their applications, and the home buying process can be confusing for anyone, but even more so for first-time homebuyers. Bolt Lending cuts through the confusion for first-time homebuyers and makes getting a home loan seem smooth. 

One great way to simplify the home loan process for first-time homebuyers is by taking advantage of FHA loans for those who qualify. The Michigan mortgage brokers at Bolt Lending are experienced in FHA loans. We love helping first-time homebuyers navigate this incredible program for home loans. Michigan homebuyers can qualify for FHA loans with a down payment as little as 3.5% as long as your FICO score is at least 580. Contact us now if you’re a first-time homebuyer and want help buying a house in Michigan. Home loans are available right now, so take a complimentary home loan qualifier to see what is right for you. 

VA Loans for Military and Veterans

Michigan members of the armed services, veterans, and select family members might qualify for a VA loan, one of the better options for a home loan. VA loans make it possible for our vets with lower FICO scores and no down payment to be able to qualify for a home loan. Michigan homebuyers who are able to take advantage of a VA loan should definitely learn more about these home loans. Michigan mortgage brokers with Bolt Lending are ready to walk you through the requirements of a VA loan and even provide you a complimentary home loan qualifier. Contact us now so that we can help you get the home loan you need to buy the house of your dreams.

 
 
 
 

USDA Loans for Rural Michigan Home Buyers

Many know Michigan for its urban and suburban centers. Some think of Detroit and its outlying neighborhoods like Troy, Grosse Pointe Park, or Birmingham. Others think of beautiful college towns like Ann Arbor. However, Michiganders understand that a lot of the beauty of the Great Lakes State is found off the beaten path in our more rural areas. Michigan homebuyers who qualify can take advantage of USDA loans to get favorable home loans for rural homes. If you have ever dreamed of a secluded property and enjoying a rural lifestyle, then a USDA loan might be your ticket. Contact the Michigan mortgage brokers at Bolt Lending today to see if a USDA loan is the right type of home loan for you. 

 Home Loans and Home Purchase FAQ

  • All lenders have different home loan products with different qualification requirements. The benefit of working with Bolt Lending is getting access to hundreds of lenders with thousands of home loan options. If you have a FICO score of 620, then there are home loan products you can most likely qualify for right now, assuming you meet the other requirements.

    However, even then some lenders have home loan options for home buyers with credit scores under 620. Additionally, many of the government-backed home loan programs, like VA loans, USDA loans, and FHA loans, accept credit scores of less than 620. More home buyers probably qualify for a home loan based on their credit scores than they even realize. If you are a Michigan home buyer and want to know if your credit score is enough for a home loan, contact us now. Bolt Lending offers a complimentary home loan qualifier to all home buyers in Michigan. Home loan options are available for all types of FICO scores, so contact us and see what is best for you.

  • Many Michigan home buyers assume that you need 20% for a down payment to qualify for a home loan. Michigan home buyers will rejoice to find out that is not true, especially if it is your primary residence. Many home loans require far less than a 20% down payment, this is true for conventional home loans, as well as government-backed home loans. Michigan home loans are often qualified for by home buyers with as little as a 3.5% down payment. Government-backed home loans, such as VA loans, FHA loans, and USDA loans also require far less than a 20% down payment. Some of these programs require zero down payment for home buyers in Michigan. Home loan applicants rarely need as much as 20% for a down payment.

    To find out how much down payment you will need for a home loan, contact us. Michigan mortgage broker professionals, like those at Bolt Lending, can provide you a complimentary home loan qualifier. This will help you understand what kind of a home loan you can currently qualify for based on different down payments. From there our mortgage professionals can work to help you find a home loan that is perfect for your needs and down payment budget.

  • Mortgage rates are officially set by each lender for their own home loan products. Different home loans and mortgage products will have different mortgage rates at different lenders. However, mortgage rates tend to fall within a range that is based on a number of factors that change constantly. During the pandemic, mortgage rates reached all-time lows but are now rising. While mortgage rates are rising, they are still favorable for Michigan home buyers compared to historic mortgage rate trends.

    Two things that will help you get the most favorable mortgage rate from your lender as possible are high credit scores and large down payments. High FICO scores will demonstrate a track record and likelihood of paying back your home loan. Having a large down payment demonstrates to lenders that you have a lot of skin in the game and do not want to risk losing your down payment on your home loan. Michigan mortgage rates can change overnight, so contact us now if you would like to try and lock in favorable mortgage rates for a home loan.

  • Many home buyers are interested in purchasing a multifamily property in Michigan. Home loans, from conventional loans to government-backed loans, can be used to buy multifamily properties. In fact, not only can Michigan home buyers use a traditional home loan or FHA loan to buy multi-unit houses, there are many reasons why it is beneficial in today’s market.

    Today’s real estate market is difficult for Michigan home buyers, especially first-time home buyers in the most competitive markets in Michigan. Home loan applicants are having to ask for higher and higher mortgage amounts because home prices keep rising. While rising rental prices are bad news for renters, they are great news for home buyers interested in multi-unit properties. Lenders for conventional home loans and FHA loans allow you to use projected rental income to help qualify for a home loan for the higher priced multi-unit properties. Ironically, while rising home prices are pricing out some home buyers, these same rising prices make it more likely you can qualify for an even larger home loan for a multifamily home. It might not make sense on the surface, but it works out in your favor.

    If you are interested in buying a multifamily home and want to see what type of home loan is best, contact us. The mortgage broker professionals at Bolt Lending are here to walk you through the ins-and-outs of home loans for multi-unit properties.