Detroit
Home Mortgage Loans
Get The Lowest Interest Rate On
Detroit Home Loans.
Whether you are a first time home buyer or
trading up to a larger home, we work to find the best Detroit home loan solution for
you. Constantly surveying the hundreds of mortgage lenders as well as
anonymously testing their staff, we are always aware of the conditions of the
home loan market as well as the lenders involved in it.
Best Lender For
Detroit Home Loans
Unfortunately, the subprime mortgage
crisis has caused dramatic changes in the lending climate. Many lending
institutions have suffered tremendous losses and as a result have
tightened their lending standards drastically. Whereas it used to be
very, very easy to meet the requirements in order to get approved, it is
now much more difficult with most lenders.
When searching for a
Detroit home loan lender, it is important to
find one that not only offers the lowest rates, but also has not
tightened lending standards to the point that only a tiny percentage of
applicants will qualify.
At the top of our list right now is ING DIRECT
Detroit Home Loan.
They have the lowest rates, a free and easy online application, and they have not been severely hurt by the subprime mortgage crisis.
They are still approving the majority of applications for Detroit home
loans. A feature that you will likely enjoy is that ING, in most
instances, will approve your online application in under 3 minutes.
Detroit Michigan
Overview & Statistics
Detroit Overview
As of 2007, Detroit's population is 871,121 people. Since 2000, it has had a population growth of -8.43 percent.
The median home cost in Detroit is $63,500. Home appreciation the last year has been -4.66 percent.
Compared to the rest of the country, Detroit's cost of living is 26.50% Lower than the U.S. average.
Detroit public schools spend $7,301 per student. The average school expenditure in the U.S. is $6,058. There are about 21 students per teacher in Detroit.
The unemployment rate in Detroit is 12.70 percent (U.S. avg. is 4.60%). Recent job growth is Negative. Detroit jobs have Decreased by 0.02 percent.
Detroit Climate
Detroit, MI, gets 30 inches of rain per year. The US average is 37. Snowfall is 33 inches. The average US city gets 25 inches of snow per year. The number of days with any measurable precipitation is 126.
On average, there are 183 sunny days per year in Detroit, MI. The July high is around 83 degrees. The January low is 20. Our comfort index, which is based on humidity during the hot months, is a 50 out of 100, where higher is more comfortable. The US average on the comfort index is 44.
Detroit Housing
The median home value in Detroit, MI, is $63,500. Home appreciation is -4.66% over the last year. The median age of Detroit, MI, real estate is 57 years.
Detroit, MI Apartments and Rentals
Renters make up 40.56% of the Detroit, MI, population. 10.45% of houses and apartments in Detroit, MI, are unoccupied (vacancy rate).
Detroit Crime
Detroit, MI, violent crime, on a scale from 1 (low crime) to 10, is 8. Violent crime is composed of four offenses: murder and non-negligent manslaughter, forcible rape, robbery, and aggravated assault. The US average is 3.
Detroit, MI, property crime, on a scale from 1 (low) to 10, is 8. Property crime includes the offenses of burglary, larceny-theft, motor vehicle theft, and arson. The object of the theft-type offenses is the taking of money or property, but there is no force or threat of force against the victims. The US average is 3.
Detroit Home Loan Resources
Listed below are a variety of resources relating to Detroit home loans:
Detroit Home Mortgage
www.ci.detroit.mi.us
Detroit Real Estate Agents
Michigan First Time Home
Buyers Grants
Michigan First Time Home Buyer
Programs
Michigan Home Mortgage Loans
For current related news stories, visit
Detroit Home Loans.
Finally, you may want to visit
Mortgage Rates Predictions to find out if now is a good time to apply for
Detroit Home Loans.
