Traverse City
Mortgage Lender.
We are based here. We close loans here every week. The Traverse City market has its own personality -- lakefront jumbo, physician loans for Munson staff, construction on land parcels outside the city, and second home buyers from downstate who fell in love with the place. Every one of those situations requires a lender who actually understands the market. That is us.
Kirby and Angie are local mortgage lenders serving Traverse City and Grand Traverse County from their office at 1396 Douglas Drive. The Traverse City market centers on conventional loans for primary buyers, jumbo financing for lakefront and high-value properties, physician loans for Munson Medical Center staff, and construction loans for land buyers in the surrounding area. USDA zero-down loans are not available within city limits but apply to many communities within 20 miles. Strong pre-approval is essential in this market.
What makes Traverse City different to finance.
Traverse City is not a generic Michigan real estate market and it does not respond to generic mortgage advice. We are based here -- our office is on Douglas Drive -- and the loans we close in this market reflect what the market actually looks like: high-value properties, competitive multi-offer situations, a strong second home and vacation buyer segment, and a physician and professional population tied to Munson Medical Center and the broader healthcare and wine industry economy.
The median sale price for Grand Traverse County was $405,223 in 2025 per verified MLS data, with total residential sales volume reaching $749 million -- up 7.46% from 2024 despite modest price softening. Downtown and lakefront properties trade significantly above county median. Properties on West Grand Traverse Bay, East Bay, and the surrounding lakes regularly require jumbo financing.
Twenty-five percent of homes within Traverse City proper sold above asking price in 2025. Buyers who show up without a strong pre-approval letter are not competitive here. We get pre-approvals done fast and done right so you can make offers with confidence.
The Munson Medical Center Physician Loan Angle
Munson Medical Center is the region's largest employer and one of the largest hospitals in northern Lower Michigan. Physicians, surgeons, dentists, and veterinarians relocating to Traverse City for positions at Munson or affiliated practices frequently face the same challenge: high earning potential, significant student loan debt, and limited employment history due to residency or fellowship. The standard conventional underwriting process often does not serve these buyers well.
Physician mortgage loans solve exactly this problem. Student loan debt is excluded from the debt-to-income calculation entirely. Up to 100% financing is available on loans up to $1 million with no PMI. Residents and fellows can close up to 90 days before their employment start date with a signed offer letter. If you are a physician or dentist moving to Traverse City for a Munson-affiliated position, this is the program worth knowing about. See our doctor loan page for full program details.
USDA in the Traverse City Area -- Know the Map
Traverse City proper does not qualify for USDA Rural Development zero-down financing. The city's population density places it above USDA eligibility thresholds. However, many communities within 15 to 30 minutes of downtown Traverse City do qualify -- including portions of Leelanau County, Benzie County, and outer Grand Traverse County townships. If your search area includes communities like Suttons Bay, Benzonia, Honor, or lake-adjacent rural areas, USDA eligibility is worth checking before assuming you need a down payment. We verify every address individually.
The programs that matter most in Traverse City.
Not every loan program is equally relevant in every market. Here is what we use most often for Traverse City and Grand Traverse County buyers.
Conventional Loans
The primary financing tool for Traverse City buyers. Down payments as low as 3% for qualified buyers, PMI that cancels at 20% equity, and the flexibility to finance primary residences, second homes, and investment properties. Strong credit scores access the best pricing.
Learn More →Jumbo Loans
Waterfront properties on West Bay, East Bay, Torch Lake, and surrounding lakes frequently exceed conforming loan limits. Jumbo financing covers high-value purchases where standard programs fall short. Kirby handles the majority of the jumbo volume on the team.
Learn More →Doctor Loans
Designed for MD, DO, DMD, DDS, and DVM borrowers. No PMI, up to 100% financing to $1M, student loan debt excluded from DTI. Especially relevant for Munson Medical Center staff and healthcare professionals relocating to Northern Michigan.
Learn More →Construction Loans
Land parcels outside Traverse City make construction lending one of our most common loan types in this market. One-time close construction-to-permanent financing funds the build and converts automatically. We work with builders throughout Grand Traverse County.
Learn More →Second Home Loans
A significant portion of Traverse City real estate transactions involve buyers from downstate Michigan, Illinois, and Ohio purchasing seasonal or vacation properties. Second home financing has specific occupancy rules and rate pricing that differ from primary residence loans.
Learn More →USDA Loans (Surrounding Area)
Traverse City proper is not USDA-eligible, but many communities within 20 miles are. If your search extends into Leelanau, Benzie, or outer Grand Traverse County townships, zero-down USDA financing may apply. We check every address.
Check USDA Eligibility →Traverse City mortgage questions answered.
Buying or refinancing
in Traverse City?
We are local, we know this market, and we close loans here every week. Start your pre-approval today or schedule a free consultation to talk through your specific situation.
Kirby and Angie Mortgage Loan Team | Union Home Mortgage | NMLS #2229229 | Angie Anderson NMLS #1999286 | Kirby Slocum NMLS #680817 | Licensed in Michigan, Ohio, and Indiana | Equal Housing Lender | 1396 Douglas Dr #22-A, Traverse City MI 49696. All loans subject to credit approval and underwriting review. Market data sourced from MLS, Redfin, and Oltersdorf Realty 2025 reports. Information provided for educational purposes only and does not constitute a loan commitment.
