Fixed-Rate Mortgages
A rate and principal-and-interest payment that never change for the life of the loan.
- 15, 20 and 30-year terms
- Predictable monthly budget
- Purchase or refinance
Franklin, MI · ZIP 48025
Home Loans in Franklin, Michigan
Franklin's village center, large wooded lots and one-of-a-kind homes are a big part of its charm, and they can make financing a little more involved. Tania Yatooma, a Swift Home Loans mortgage specialist with more than 10 years of mortgage experience, works minutes away in Birmingham and helps Franklin buyers line up jumbo and conventional financing that fits the property.
- Jumbo & conforming loans
- Larger lots & unique homes
- Free pre-approval
- Office minutes away
Get Your Free Franklin Quote
Tell Tania what you're planning. She'll reply personally, usually the same business day.
- ZIP code
- 48025
- 2026 conforming limit
- $832,750 (1-unit)
- Specialty
- Jumbo & larger-lot homes
- Your mortgage specialist
- Tania Yatooma · 10+ yrs
Franklin Home Loans
Financing Homes with Character in Franklin
The Village of Franklin keeps a small-town feel just northwest of Southfield, with a historic village center, wooded lots and many custom homes. Properties vary widely, from historic homes near the village center to newer homes on an acre or more.
Because no two Franklin homes are alike, Tania looks closely at the property early so the appraisal, inspections and loan type are lined up before you're under contract.
- Jumbo loans when the loan amount is above $832,750.
- Conforming loans sized with a larger down payment when that saves you money.
- Larger lots and unique homes, with appraisal and inspection planning up front.
- Renovation loans to buy and update an older home in one loan.
- Refinance and home equity options for current homeowners.
Mortgage Programs
Home Loan Options in Franklin
Tania matches Franklin buyers and homeowners with the program that fits their budget, timeline and goals.
FHA Loans
Government-insured loans popular with first-time buyers.
- Down payments from 3.5%
- Flexible credit guidelines
- 2026 limit $541,287 (1-unit)
VA Loans
A benefit earned by eligible veterans, active-duty service members and surviving spouses.
- Often $0 down payment
- No monthly mortgage insurance
- VA streamline refinance (IRRRL)
Jumbo Loans
Financing for homes where the loan is above the $832,750 conforming limit.
- Loan amounts above conforming limits
- Fixed and adjustable options
- Primary, second and investment homes
Renovation (Rehab) Loans
Buy or refinance a home and roll the cost of repairs and upgrades into one loan.
- FHA 203(k) and conventional renovation
- Kitchens, baths, roofs, additions
- Based on after-improvement value
Low Down Payment
You may need far less than 20% down. Programs start at 0–3% for qualified buyers.
- Conventional 3% down options
- FHA and VA programs
- Down payment assistance guidance
USDA Loans
Zero-down financing in eligible rural areas. Addresses in Franklin generally don't qualify, but Tania can check homes farther out.
- No down payment required
- Income and location limits apply
- Eligibility checked by address
Home Equity & Refinance
Lower your rate or payment, or put your equity to work while keeping your first mortgage.
- Rate-and-term refinance
- Cash-out refinance
- Home equity loans
Down Payment Estimator
How Much Do You Need to Put Down in Franklin?
Enter a purchase price to compare common down payment options. Many Franklin homes sit near or above the conforming limit, so the estimator flags when a loan becomes a jumbo.
Lowest typical down payment
Send This to Tania
$0
| Option | Down | Loan |
|---|
Estimate only, not a loan offer. Excludes closing costs, prepaids, financed fees and mortgage insurance. Program availability depends on credit, income, property and lender guidelines; 3% down is for eligible buyers.
Unique Properties
What Lenders Look at on Franklin Homes
Franklin's larger lots and older homes are a big part of their appeal. Here's what can come up during financing, and how Tania plans for it.
Larger lots & acreage
- Appraisers need comparable sales with similar lot sizes, which can take more research
- Lenders look at how much of the value comes from the land versus the home
- Allow enough time in your contract for the appraisal
Well & septic
- If the home has a private well or septic system, the lender may require water testing or an inspection
- Order those inspections early so results don't delay closing
- Budget for any repairs the results turn up
Historic & older homes
- A thorough home inspection is worth it for roof, wiring, plumbing and foundation
- Homeowners insurance may cost more for older or larger homes
- A renovation loan can finance updates with the purchase
Michigan Buyers & Homeowners
Good to Know in Franklin
Taxes reset when you buy
In Michigan, taxable value uncaps when a home is sold, so budget on the new value, not the seller's tax bill.
File your PRE
A Principal Residence Exemption (Form 2368) exempts your home from up to 18 mills of school operating taxes.
Refinancing doesn't uncap
A refinance isn't a transfer of ownership, so it doesn't reset your property taxes.
Pre-approval first
A full pre-approval tells you your price range and makes your offer stronger with Franklin sellers.
Your path to closing
- 10-minute callShare your goals, budget and timeline.
- Pre-approval or options reviewTania reviews income, assets and credit and recommends a program.
- Offer or applicationShop with confidence, or start your refinance.
- Appraisal, approval & closingTania keeps your file moving and you updated.
FAQ
Home Loan Questions from Franklin
Do I need a jumbo loan to buy in Franklin, MI?
Only if your loan amount is above the 2026 conforming limit of $832,750 for a one-unit home in Oakland County. A larger down payment can sometimes keep the loan at or under the limit.
Can I get a mortgage on a home with a well and septic system?
Yes. Lenders regularly finance homes with private wells and septic systems. Depending on the loan program, they may require a water test or an inspection, so it's best to order those early.
Is it harder to appraise a home on a large lot?
It can take more work. The appraiser needs comparable sales with similar lots and homes, and there are fewer of them in a small village. Tania plans for this when setting your timeline.
Can I finance renovations on an older Franklin home?
Yes. Renovation loans, including conventional renovation and FHA 203(k), let you buy the home and finance improvements in one loan, based on the value after the work. Existing owners can also use a home equity loan or cash-out refinance.
Is a Franklin mailing address always in the Village of Franklin?
Not always. Some homes with a Franklin mailing address are in neighboring communities such as Bingham Farms or Southfield Township. The municipality affects property taxes and services, so check it for any home you're considering.
Will my property taxes match the seller's?
Usually not. In Michigan, taxable value uncaps when a home is sold, so your taxes are recalculated after you buy. Budget on the new taxable value.
How do I get pre-approved for a Franklin home?
Call Tania at 248-385-3986 or email tania.y@swifthomeloans.com. She will review your income, assets and credit and recommend jumbo or conforming financing.
Nearby
Home Loans Near Franklin
Tania helps buyers and homeowners across Oakland County, Macomb County and Southeast Michigan. See all loan programs and service areas.
- Birmingham
- Beverly Hills
- Bloomfield Hills
- Southfield
- Farmington Hills
- West Bloomfield
- Oakland County
- Bingham Farms
- Bloomfield Township
Ready to Buy in Franklin?
Get a free pre-approval and a financing plan built around the property, from a local mortgage specialist with 10+ years of experience.