Compare Mortgage Brokers in Troy, MI
Browse mortgage brokers serving Troy, Michigan. Contact information and addresses listed below.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of Michigan before hiring.
Showing 20 mortgage brokers in Troy, MI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Mortgage brokers in Troy Michigan help home buyers and refinancers find suitable loan products from multiple lenders. Michigan law requires mortgage brokers to be licensed through the state and follow the Michigan Mortgage Brokers Act. Brokers in Troy can assist with conventional loans FHA loans and VA loans for local properties.
What Does a Mortgage Broker in Troy Cost?
Typical costs for a mortgage broker in Michigan include an origination fee of 1 to 2 percent of the loan amount. For a 200000 dollar loan this fee would be 2000 to 4000 dollars. Some brokers charge a flat fee ranging from 1500 to 3000 dollars. Third party costs such as appraisal and title fees are separate. This information is general and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What license does a mortgage broker need in Michigan?
A mortgage broker in Michigan must hold a valid license from the Michigan Department of Insurance and Financial Services. This license requires background checks and continuing education. You can verify a brokers license on the NMLS website.
How do mortgage broker fees work in Michigan?
Michigan mortgage brokers typically charge an origination fee of 1 to 2 percent of the loan amount. Some brokers may also charge a flat fee or receive compensation from the lender. The total fee must be disclosed on the Loan Estimate form.
Can a mortgage broker help with a Michigan first time home buyer program?
Yes many mortgage brokers in Troy work with the Michigan State Housing Development Authority programs. These programs offer down payment assistance and lower interest rates for eligible first time buyers. A broker can explain income limits and property location requirements.