Best Mortgage Lenders in Michigan—Backed by Data

TrueRate Analyst

By:

TrueRate Analyst

Best Mortgage Lenders in Michigan

Data-backed picks using 2024 closed-loan pricing (30-year fixed, conventional, primary residence).

Buying a home in Michigan? Whether you’re looking in an affordable suburb or a competitive lakeside town, the mortgage process can be anything but straightforward. Picking the right lender matters—and could save you thousands.

To help buyers make smarter choices, we analyzed closed-loan data from hundreds of thousands of loans across 107 different lenders operating in Michigan. Our sample included 30-year fixed, conventional primary home purchase loans. You can see the full TrueRate analysis. These aren’t teaser quotes or advertised rates—this data reflects the real rates and fees buyers locked in.

Each lender listed below consistently outperformed the state median on pricing, while also offering competitive products and solid borrower support. We also categorized lenders to help you find the right fit—whether you’re a first-time buyer, looking for a digital-first experience, or need something more specialized.

Why it stands out

Ok, we’re a little biased, but the numbers speak for themselves—low rates, no lender fees, better reviews. Tomo Mortgage was founded in 2025 by former Zillow execs who saw what was broken in the mortgage industry (think bait-and-switch, inflated rates, a black box of confusing fees) and set out to fix it. It was ranked Best Online Lender 2025 by Bankrate, earning strong customer reviews, and is backed by major financial services companies.

Lower prices enable more transparency: you can get personalized rates online without applying or talking to sales. The rate tool includes a slider that shows how your monthly payment changes with and without points—clarity most lenders don’t offer until deep into the process.

Heads-up on refinancing: Tomo Mortgage doesn’t offer refinancing at this time.
See today’s rates

Read full review: Tomo Mortgage

What borrowers say

“Because of Tomo’s low APRs, low down payment requirements, and minimal fees, it gets a perfect 5 out of 5 stars for affordability.”
“I had a great experience working with Tomo Mortgage. Their rates were among the most competitive I could find, and the service was great from start to finish.”
— Blain (via Google)

Why it stands out

Lake Michigan Credit Union combines advanced mortgage technology with uncommon loan flexibility, making it a top choice for borrowers with unique needs. LMCU is also one of the biggest lenders in Michigan per 2024 HMDA, originating around $2.4B in home loans in Michigan last year, largely conventional (≈96%).

Beyond tech and size, LMCU finances property types many lenders won’t touch—hobby farms, log homes, manufactured housing, and non-warrantable condos—and offers home equity products with interest-only options. Locally, it channels millions into the community through pediatric hospital fundraising, scholarships, and ongoing charitable giving.

See rate ranges

Read full review: Lake Michigan Credit Union

What customers say

Highly mixed sentiment across third-party platforms. Positive reviews highlight smooth, efficient processes and knowledgeable staff (esp. for first-time/VA loans). Negative experiences cite poor communication, administrative errors, and last-minute changes to terms or rates.

Why it stands out

Alliant Credit Union is a digital, member-owned nonprofit based in Chicago, serving 800k+ members nationwide. As an online-only lender, Alliant offers broad product choice and convenience. Bankrate rates Alliant 4.7/5 and highlights its “Alliant Advantage Mortgage” program—loans up to $650,000 with $0 down and no PMI.

See rate ranges

Read full review: Alliant Credit Union

What customers say

Praise centers on competitive rates, low fees, and clear closing costs; complaints (e.g., Trustpilot) cite communication gaps and escrow/payment servicing issues.

Some of the largest lenders didn’t make this list—but still wondering how they stack up? Huntington National Bank and Rocket Mortgage originated billions in Michigan loans last year, but only Huntington appears in our closed-loan dataset used for ranking. We reviewed HMDA volume and spot-checked public rate sources for context. These aren’t directly comparable to our ranked lenders, but they’re useful reference points when shopping broadly.

Huntington National Bank

Originated over $1.3B in Michigan home loans in 2024 across 6,000+ loans (avg. ~$225k). Mix: ~62% purchase, ~28% refi, ~10% home improvement.

Per our TrueRate model, Huntington’s pricing trends about 0.05% below the state median ≈$522 saved after the first year vs. a median-priced lender and about $1,873 over 10 years. Versus Tomo Mortgage, a typical borrower would pay an estimated $2,056 more after one year and $9,311 more over 10 years.

Rocket Mortgage

Originated over $3.7B across around 16,000 Michigan loans in 2024 (avg. ~$226k). Mix: ~58% purchase, ~41% refi—active on both sides of the market.

Note: Rocket doesn’t publish personalized rates on its site; as of Aug 12 (4pm ET) rates were not shown on major rate tables.

Lender Pick HQ Interest Rates (historical) Lender Fees Notable Programs / Notes Website Full Review
Tomo Mortgage Best for value & experience New York, NY (Birmingham, MI presence) ~0.30% below median $0 Bankrate “Best Online Lender 2025”; transparent online quotes; no refi currently tomo.com Read full review
Lake Michigan Credit Union Best Local Lender Grand Rapids, MI ~0.22% below median ~$800 Finances unique property types; strong community programs lmcu.org Read full review
Alliant Credit Union Best for DPA Chicago, IL ~0.31% below median ~$950 Alliant Advantage: up to $650k, $0 down, no PMI alliantcreditunion.org Read full review

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Tomo Mortgage
5 out of 5 stars
Bankrate Zillow