Rates by city
Mortgage rates in Muskegon, Michigan
Muskegon is West Michigan's affordable lakeshore alternative — a revitalizing port city where genuine Lake Michigan access comes at a fraction of Holland or Grand Haven prices, drawing both first-time buyers and investors.
The Muskegon market
Muskegon's low prices open the door to first-time buyers and rental investors, and a revitalizing downtown and lakeshore have lifted values in recent years. As in other lower-priced Michigan cities, some homes fall below lender loan minimums, steering buyers toward local institutions or renovation loans.
Neighborhoods buyers ask about: Lakeside · Nims · McLaughlin · Bluffton · Downtown Muskegon
What's different about buying here
Muskegon offers genuine Lake Michigan access at a fraction of Holland or Grand Haven prices, and MSHDA plus USDA-eligible surrounding areas make low- and zero-down paths unusually common.
Down payment help in Muskegon
Muskegon is strong MSHDA territory, and USDA financing covers parts of the surrounding county — between the two, zero- and low-down paths are unusually available here for moderate-income buyers.
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 Muskegon County's tax rate in the Muskegon payment calculator, and see whether you qualify for Michigan's first-time buyer programs before assuming you need 20% down.
Frequently asked questions
Can I buy near Lake Michigan affordably in Muskegon?
Yes — Muskegon is the most affordable genuine-lakeshore market in West Michigan, with a median around $160,000. Between MSHDA assistance in the city and USDA-eligible areas in the surrounding county, moderate-income buyers often reach a lakeshore-adjacent home with little cash down.
What is the monthly payment on a typical Muskegon home?
On Muskegon's median price of about $160 000 with 10% down at today's 6.45% average rate, expect roughly $1 282/month including Muskegon County property taxes at ~1.7% and insurance.
Are mortgage rates different in Muskegon than the rest of Michigan?
The interest rate itself is the same statewide — what changes in Muskegon is everything around it: Muskegon County's ~1.7% effective property tax, local insurance costs, and which down payment assistance programs apply.