Better Mortgage, a digital mortgage company based in New York, Tuesday announced it is expanding services to homebuyers in Michigan. The company now operates in 16 states.
The expansion supports the company’s adoption among first-time homebuyers in increasingly hot markets, such as those in Detroit, Lansing, and Grand Rapids.
“Homebuyers in Michigan now have access to a more transparent, affordable, and tech-enabled mortgage offering that will save them money and time,” says Eric Wilson, head of operations for Better Mortgage. “Our continued growth and profitability enables us to expand our operations to hubs like Michigan, providing homebuyers with even more resources to pursue the American dream of homeownership.”
Nationwide, mortgage rates are rising, and housing markets remain competitive.
In Michigan, the overall rate of homeownership can increase, as large percentages of renters who live in metro areas can afford to buy. In Detroit, about 47 percent of renters can afford to buy. This number is 60 percent in Lansing, 52 percent in Flint, and 33 percent in Ann Arbor, Better Mortgage officials report.