Rates by city
Mortgage rates in Lansing, Michigan
As the state capital, Lansing runs on government and university payrolls — steady, well-documented income that underwriters love — and its still-affordable housing stock makes it one of the easier metros in Michigan for a first purchase.
The Lansing market
Neighborhoods like Groesbeck and the Westside offer solid mid-century homes well under the state median, while Old Town and REO Town have drawn younger buyers and steady renovation activity. State-government and Michigan State University employment gives Lansing a stability that smooths mortgage approvals, even for buyers with shorter job histories in the same field.
Neighborhoods buyers ask about: Old Town · REO Town · Westside · Groesbeck · Moores Park · Eastside
What's different about buying here
Lansing's mix of state-government and university employment makes lenders comfortable with income stability here, which can help borrowers with shorter time in a current role.
Down payment help in Lansing
Beyond the statewide MSHDA stack, the City of Lansing's development office and neighborhood nonprofits have periodically offered homebuyer incentives and rehab assistance — worth asking a MSHDA-approved lender about before you write an offer.
Today's Michigan rates
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.45% | 6.52% | ▾ 0.04 pts |
| 15-Year Fixed | 5.72% | 5.81% | ▾ 0.02 pts |
| FHA 30-Year | 6.12% | 6.89% | ▾ 0.05 pts |
| VA 30-Year | 6.02% | 6.21% | ▴ + 0.01 pts |
Source: Editorial survey of Michigan lenders; national benchmark: Freddie Mac PMMS. Averages for borrowers with 740+ credit and 20% down; your quote will differ.
Estimate your exact payment with Ingham County's tax rate in the Ingham County payment calculator, and see whether you qualify for down payment assistance before assuming you need 20% down.
Frequently asked questions
Is Lansing a good market for first-time buyers?
Yes — a below-median price point, stable public-sector employment, and full MSHDA eligibility make Lansing one of Michigan's more accessible metros for a first purchase, especially when the MI 10K DPA covers most of the cash to close.
What is the monthly payment on a typical Lansing home?
On Lansing's median price of about $180 000 with 10% down at today's 6.45% average rate, expect roughly $1 454/month including Ingham County property taxes at ~1.9% and insurance.
Are mortgage rates different in Lansing than the rest of Michigan?
The interest rate itself is the same statewide — what changes in Lansing is everything around it: Ingham County's ~1.9% effective property tax, local insurance costs, and which down payment assistance programs apply.