Rates by loan type
VA 30-Year mortgage rates in Michigan
For Michigan veterans and active-duty buyers, the VA loan is nearly always the best deal available: zero down, no monthly mortgage insurance, and the lowest rates in our survey.
The one-time VA funding fee (2.15% first use, waived entirely for veterans with service-connected disability ratings) replaces mortgage insurance. Even with the fee financed, the VA loan usually beats FHA and conventional on total cost.
Michigan has roughly half a million veterans, and lender experience varies enormously — a loan officer who closes VA loans monthly will navigate appraisal requirements (MPRs) far better than one who sees two a year. Ask directly how many VA closings they did last quarter.
All Michigan rates compared
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.57% | 6.64% | ▴ + 0.06 pts |
| 15-Year Fixed | 5.86% | 5.95% | ▴ + 0.11 pts |
| FHA 30-Year | 6.23% | 7.00% | ▴ + 0.06 pts |
| VA 30-Year | 6.13% | 6.32% | ▴ + 0.06 pts |
| Jumbo 30-Year | 6.71% | 6.76% | ▴ + 0.06 pts |
| 30-Year Refinance | 6.70% | 6.77% | ▴ + 0.06 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.
Frequently asked questions
What is the current va 30-year rate in Michigan?
As of July 16, 2026, Michigan lenders in our survey average 6.13% (6.32% APR) on the va 30-year, up 0.06 points from last week.
Why is my quoted rate different from the average?
Averages assume 740+ credit, 20% down, and a single-family primary home. Lower scores, smaller down payments, condos, and cash-out all add pricing adjustments. The average is a benchmark for judging quotes — not a promise.