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Best Mortgage Brokers in Detroit

Our Recommended Top 3

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Detroit Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.



3Top Picks

Learn about our selection process.


featured provider = Featured Provider

400 West Maple Road, Birmingham, MI 48009
  • Refinance
  • Commercial Loans
  • Multi-Family Loans

Why choose this provider?

Bristol Capital Group is an estate mortgage broker and banking firm that brings over 30 years of real estate and finance experience to the market. The company was formed in 1997 and has maintained and established client-centric advocacy. Its services specialize in multifamily and apartment mortgages. They also arrange and process loans and mortgages for commercial establishments, industrial buildings, bridge loans, and large loans. The services of Bristol Capital Group are available in the Detroit area.

41800 Hayes Road, Clinton Township, MI 48038
  • New Construction
  • Refinance

Why choose this provider?

Cranbook Loans is a retail mortgage company that brokers and offers loans for borrowers in Detroit. Using an online and telephone loan application system, the company helps clients by assigning them to local lenders with home equity, construction, and USDA loans. It also offers refinancing solutions such as cash-out refinancing, reverse senior mortgages, and HARP programs. In addition to its brokerage services, Cranbook Loans extends direct lending options with its team of mortgage loan originators, underwriters, and processors.

License Verified:

License: 1221113

Nationwide Multistate Licensing System and Registry


We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0 / 5 (17)

640 West University Drive, Rochester, MI 48307
  • New Construction
  • Refinance

Why choose this provider?

Somerset Lending Corp is a brokerage firm that serves Detroit and the nearby areas. It offers purchasing and refinancing options for clients. Some of its services include first-time homebuyer loans, VA loans, and FHA loans. In addition, Somerset Lending offers a fully electronic application process and expedited pre-approval and processing. People looking to refinance can also consult with the company to help consolidate their debt, lower their interest payments, or update the terms of their original mortgage.

License Verified:

License: 133899

Nationwide Multistate Licensing System and Registry


We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0 / 5 (8)
5.0 / 5 (5)
1.0 / 5 (1)


  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.

    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.