Lender review
Mortgage 1 review: what Michigan borrowers should know
Best for: statewide michigan buyers wanting mshda and rural development help
- Headquarters
- Sterling Heights, MI
- Founded
- 1994
- NMLS
- #129386
- Min. credit score
- 620
- Min. down payment
- 3%
Mortgage 1 is a Sterling Heights-based retail lender that has grown a statewide Michigan branch network since 1994 while keeping first-time buyers at the center, marketing MSHDA down-payment assistance and USDA Rural Development loans heavily. It's a solid homegrown option for buyers who want a Michigan lender with offices they can actually walk into.
Since 1994, Mortgage 1 has grown from a single Sterling Heights office into a statewide Michigan branch network, and it's kept first-time buyers at the center of the pitch the whole way. Its marketing leans hard on MSHDA down-payment assistance and USDA Rural Development, the two levers that get cash-tight buyers into a Michigan home.
The appeal is tangible: offices you can walk into, spread across the state, backed by a full agency product menu that handles most purchase scenarios. For a buyer who wants a homegrown lender rather than a call center in another time zone, that physical presence carries weight.
A couple of honest asterisks apply. Pricing depends on the loan officer rather than a posted rate, so shopping the number still pays off, and Mortgage 1 lends out of state too, which dilutes the purely-local feel some buyers are after. Its digital tools also trail the polish of the big online players.
What works
- Statewide Michigan branch network
- Heavy focus on MSHDA and Rural Development programs
- Full agency product menu for most buyers
What to watch
- Pricing is loan-officer-dependent, not published
- Also lends out of state, so less exclusively local
- Digital tools trail the big online lenders
Loan programs at Mortgage 1
Which core Michigan loan types Mortgage 1 offers, with the typical minimum down payment for each program. Program floors are industry standards — Mortgage 1's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | ✓ Yes | 0% |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Where Mortgage 1's credit bar sits
Mortgage 1's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| Mortgage 1 | Michigan median* | |
|---|---|---|
| Editorial score | 4.0 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 5 | 5 |
| Michigan-headquartered | Yes | — |
*Median across the 55 Michigan lenders in our catalog.
How Mortgage 1's rates and offers compare
Before committing, pull a same-day quote from at least two competitors — pricing gaps of 0.25% are common for identical borrowers. Start with Success Mortgage Partners, Independent Bank or MSU Federal Credit Union, then compare Loan Estimates line by line. Benchmark whatever you are quoted against our Michigan rate table.
Mortgage 1: frequently asked questions
What are Mortgage 1's mortgage rates in Michigan?
Mortgage 1 doesn't post one rate — like every lender, its pricing turns on your credit score, down payment, loan size and the day you lock. It doesn't publish live rates online, so you'll need to request a personalized quote. The reliable move: pull a written Loan Estimate from Mortgage 1 and set it beside this week's Michigan averages in our rate table, comparing on the same day.
Is Mortgage 1 a legitimate mortgage lender?
Yes. Mortgage 1 is a licensed mortgage lender registered under NMLS #129386 and lending since 1994. Look the registration up yourself, complaints and all, at NMLS Consumer Access. Our unpaid editorial review rates it 4.0/5 for Michigan buyers — no lender pays for placement.
What credit score do you need for a Mortgage 1 mortgage?
Mortgage 1 generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor; approval still turns on your income, debts and the property.
Does Mortgage 1 offer FHA, VA and USDA loans?
Mortgage 1 offers FHA, VA and USDA loans to Michigan borrowers. It covers the full government-loan menu. Its complete Michigan lineup is Conventional, FHA, VA, USDA, Jumbo.
Does Mortgage 1 lend in Michigan?
Yes — Mortgage 1 is headquartered in Sterling Heights, MI and is a Michigan-based lender, so Michigan purchases, refinances and state programs such as MSHDA down-payment assistance are everyday business rather than an afterthought.
Will Mortgage 1 sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask Mortgage 1 directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — Mortgage 1 did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-01 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#129386).