Lender review
Towne Mortgage Company review: what Michigan borrowers should know
4.0 / 5.0
Best for: fha and renovation loans with hands-on processing
- Headquarters
- Troy, MI
- Founded
- 1982
- NMLS
- #3028
- Min. credit score
- 580
- Min. down payment
- 3.5% (FHA)
A four-decade Troy institution that stays deliberately mid-sized. Strong on FHA, USDA and 203(k) renovation lending — the loans big digital lenders tend to handle poorly.
What works
- Deep FHA/203(k) renovation expertise
- Manual underwriting available for thin credit files
- Local processing teams — you talk to Michigan staff
What to watch
- Smaller product menu than national lenders
- No published rate tables online
- Limited weekend availability
Loan products
Towne Mortgage Company currently offers Michigan borrowers:
- Conventional
- FHA
- VA
- USDA
- Renovation (203k)
How Towne Mortgage Company compares
Before committing, pull a same-day quote from at least two competitors — pricing gaps of 0.25% are common for identical borrowers. Start with Rocket Mortgage, United Wholesale Mortgage (UWM) or Flagstar Bank, then compare Loan Estimates line by line. Current market averages are in our Michigan rate table.
This review is editorial and unpaid. Verify licensing at NMLS Consumer Access (#3028).