Buying your first home?
Compare the down payment, total payment and remaining savings. Separate lender-specific assistance from other loan choices.
Oakland County first-time buyer guideMike Alkema · Michigan mortgage broker · NMLS #642953
Oakland County Mortgage Broker for Michigan Home Buyers
Before you settle on a mortgage, see how the choices compare.
Buying in Oakland County? I help you put payment, cash to close and the money you keep after closing side by side. Start with the home you are considering—or the quote you already have. We can look at the options before you decide.
CALL/TEXT MIKE — 616-319-1640 · Text Mike
Based in Grand Rapids. Serving Oakland County and Michigan borrowers.
What would you like to figure out first?
Using your VA benefit?
Review entitlement, property eligibility and the complete cash-to-close picture before writing the offer.
VA financing in Oakland CountyWorking through a buyer scenario?
Find appraisal checklists, condo questions and a route to a mortgage second opinion.
Oakland County Realtor toolsAlready have a quote? Here is what I would compare.
The first mortgage quote is only a starting point. Ask each lender to price the same property, purchase price, down payment, loan term and rate-lock period. Then compare the complete offer.
| Compare | What you need to know |
|---|---|
| Monthly payment | Include principal, interest, estimated property taxes, homeowners insurance, mortgage insurance and any association dues. |
| Cash to close | Separate down payment, closing costs, prepaid expenses and escrow funding. Account for your deposit and permitted credits. |
| Lender fees and points | Ask what you pay upfront for the quoted rate and what a lender credit changes over time. |
| Structure and timing | Compare fixed or adjustable terms, eligibility conditions, lock expiration and the cash reserve you keep after closing. |
A lower initial payment can come with a different upfront cost or future payment. Bring the full Loan Estimate and your expected time in the home to the comparison.
What does the Oakland County average mean for your home?
Oakland County had an estimated 1,288,337 residents in July 2025. Census estimates for 2020–2024 report a 72.7% owner-occupied housing rate, a $343,600 median value for owner-occupied homes and 44,825 veterans. Source: U.S. Census Bureau QuickFacts.
That home-value figure describes the existing housing stock across a five-year period; it is not today’s median sale price or a budget for a particular city. A condominium, an established single-family home and a larger custom property can require very different financing reviews.
For your offer, use the actual address, property type, current comparable sales and an estimate of taxes after purchase. Michigan explains when ownership transfers can uncap taxable value. The seller’s tax bill may not represent your future cost.
Which mortgage deserves a closer look?
Conventional financing
Compare down-payment choices, mortgage insurance and condo-project requirements. A larger down payment may reduce borrowing costs while leaving less money for moving, repairs or reserves.
Michigan conventional loan guideFHA financing
Compare FHA against conventional using total cost and the property’s condition. Before an appraisal, flag visible repair concerns and review how the loan handles mortgage insurance.
Michigan FHA loan guideVA financing
Eligible borrowers may have a no-down-payment option. Review entitlement, closing costs, the property and the lender’s full analysis.
Oakland County VA guideMove-up and larger purchases
Compare the loan amount, available cash and any sale of your current home. Larger loans may need a separate review of reserves and underwriting.
Birmingham-area luxury mortgage guidesBuying your first Oakland County home?
Before assuming you need 20% down, compare the mortgage structures and assistance programs that may be available to you. The right first step is a workable monthly budget and a clear picture of how much cash you want left after closing.
The county advertises a $5,000 grant for eligible first-time buyers through an Independent Bank partnership. That program requires Independent Bank financing; Mike and Leeward Point do not originate it. Funding and eligibility can change. Read the county’s official program information.
Self-employed? Let’s start with how your income works.
If you receive K-1s, Schedule C income, partnership or S corporation distributions, commissions or bonuses, start the income conversation early. Deposits into an account and qualifying income are not necessarily the same.
For an Oakland County purchase, bring together the property budget and the income documentation plan before comparing lenders. Discuss business ownership, income trends, multiple sources and any change in employment. Share financial documents only through the secure process I provide.
A broker can compare available underwriting and product approaches, including a review of specialty or non-QM options when appropriate. An alternative documentation product is not a promise of qualification and may involve different pricing, down-payment or reserve requirements. Read the Michigan self-employed mortgage guide or learn about bank statement loan considerations.
You can work with me wherever you are buying in Michigan.
I am based in Grand Rapids and work with Michigan borrowers through Leeward Point Mortgage LLC. Buying in Oakland County? We can start with a call and the home you are considering.
Discuss a purchase in Troy, Farmington Hills, Rochester Hills, Novi, Royal Oak, Southfield, Waterford, West Bloomfield, Pontiac, Birmingham or Bloomfield Hills. The actual property and borrower circumstances determine the financing review. Learn about Mike or explore Michigan service areas.
Questions you may be asking
Can Mike help if I am buying in Oakland County but live elsewhere?
Start with the destination address, intended occupancy, employment situation and moving timeline. A relocation can affect income documentation and the timing of a current-home sale, so discuss those details before relying on a quote.
Should I use the county’s median home value to set my budget?
No. It is a historical county-wide housing statistic. Your budget needs the actual payment, property costs and savings goals; your agent can help evaluate comparable sales for the home.
Can I compare a quote I already have?
Yes. Ask for a second opinion using the same purchase assumptions. I can help compare payment, cash to close, lender fees and structure; a comparison does not guarantee a lower rate or approval.
Where do I find local help with the first purchase?
Use the Oakland County first-time buyer guide for official assistance and education links. Confirm the provider, current funding and lender restrictions before counting on any program.
Want a clearer picture before you choose?
Tell me where you are buying and the question you want answered. I can help you compare the payment, upfront costs and available loan structures. You can start with a conversation; you do not need a finished application to ask a question.
More help for your next step
Oakland County mortgage hub · Mortgage options · First-time buyers · VA loans · Realtor tools
Educational information reviewed September 11, 2026. Loan programs, funding and eligibility can change. Individual borrower, property and lender requirements apply.
Considering a home in Troy?
Compare the property’s taxes, condo costs, loan options and the cash you want to keep after closing. Explore Mike’s Troy mortgage guide.
Planning a Farmington Hills purchase?
Check the parcel, property taxes and planned improvements, then compare financing and the cash you want to keep. Explore Mike’s Farmington Hills mortgage guide.
Making your next move in Rochester Hills?
Review post-purchase tax estimates, the timing of your current home’s sale and your total housing budget. Explore Mike’s Rochester Hills mortgage guide.
Pair your Oakland County budget with the property review
Use the Michigan FHA and VA appraisal checklist to organize condition questions and the Michigan home affordability calculator to explore the monthly budget.
Comparing a Novi condo with a detached home?
Put the payment, association obligations, future taxes and cash left after closing side by side. Use Mike’s Novi mortgage guide.
Buying a Royal Oak home that needs work?
Compare the mortgage, cash to close and money left for the first project. Use Mike’s Royal Oak mortgage guide.
Buying a home in Southfield?
Compare the property, mortgage payment and cash you want to keep. Use Mike’s Southfield mortgage guide.
More property-specific community guides
Start with the home you are considering, then compare payment, closing money and reserves.