Schools
Most addresses are served by Lake Orion Community Schools, whose high school holds a 9/10 GreatSchools rating.
Oakland County, Michigan
Mortgage Lender in Lake Orion, MI
Local mortgage guidance for Lake Orion buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
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Buying a home in Lake Orion
Lake Orion is two places in one: a historic village of roughly 2,850 residents wrapped around an all-sports lake in northern Oakland County, and the sprawling Orion Township subdivisions around it. The economic anchor is GM's Orion Assembly plant, about 3,000 direct jobs, now being retooled to build full-size trucks and SUVs starting around 2027. Median household income runs near $101,000, and I-75 puts Auburn Hills, Pontiac and Troy employers within an easy drive.
Buyers come for the walkable historic downtown around Broadway and Flint Street, the Dragon on the Lake festival, the Polly Ann Trail, Bald Mountain State Recreation Area and Indianwood Golf & Country Club. Housing ranges widely, from downtown condos near $250,000 to $300,000, through interior subdivisions trading roughly $350,000 to $600,000, to direct lakefront that reaches $700,000 to more than $4 million. Across the area's ZIPs, Zillow's ZIP-level median sits near $275,400 in 48362, while typical values in 48360 and 48361 run about $415,000. In peak season many homes go pending in 18 to 19 days, though activity cools in winter and the village core moves more slowly.
By the numbers
Lake Orion housing and mortgage snapshot
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
$415,000
Typical home value, from the market research on this page
+39%
Typical rise in taxable value the year after a home sells in Orion Township, 2026 Uncapping Study
0.76%
Effective property tax rate, as a share of value
3
Residential ZIP codes: 48360, 48361, 48362
What financing looks like in Lake Orion
To comfortably carry the ~$415K median home, plan on a household income near $115,000-$135,000, assuming about 20% down, prevailing rates, and a payment around $2,700-$2,900/month at a 28% front-end ratio (an estimate, not a published figure). Smaller down payments push that higher. Property taxes are friendlier than you'd expect: Orion Township's 2025 total homestead millage is about 35.77 mills, but the effective rate lands near 0.76%, below Oakland County's ~1.05% median. First-time buyers should ask about MSHDA down-payment assistance. Most 48360 homes sit comfortably under the conforming loan limit, so conventional and FHA financing fit well; true lakefront buyers may need jumbo terms.
Nearly every Lake Orion purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
Sub-markets
Lake Orion housing market by ZIP code
Lake Orion spans 3 residential ZIP codes, and they are different sub-markets.
ZIP 48360, near $415,000
The typical home in 48360 runs about $415,000, Zillow shows an average value near $414,600, up roughly 5.5% year over year, while Realtytrac puts the ZIP's median sale price near $404,900. Homes move quickly: Redfin reports area-wide days on market around 19, though the smaller historic Village downtown submarket has slowed to roughly 101 days. Demand is driven by lake access, the strength of Lake Orion Community Schools, and the steady payroll anchored by GM Orion Assembly. Interior subdivisions generally trade $350K-$600K, while direct lakefront commands a steep premium, reaching $700K to $4M+.
ZIP 48361, near $415,000
The typical Lake Orion-area home value sits near $415,000, up about 5.5% year over year per Zillow, though that midpoint masks a wide spread: walkable downtown condos can start near $250K-$300K while lakefront and Indianwood golf homes routinely clear $500K-$900K+. Demand is driven by all-sports Lake Orion, private-lake subdivisions, the historic village core, and steady GM and Oakland County employment. The pace is competitive. In peak season many homes go pending in roughly 18-19 days, often with multiple offers, against only about 1.4 months of inventory. Activity cools in winter, when Redfin clocked median days on market near 44 in December 2025, down 22% year over year. Named areas: Keatington (~$300K-$550K), Village of Lake Orion Downtown (~$250K-$500K), Royal Troon Condominiums (~$250K-$400K).
ZIP 48362, near $275,400
Home values in 48362 vary sharply by source: Zillow's ZIP-level median sits near $275,400, while the broader Lake Orion average home value runs about $414,605 at roughly +5.5% year over year. A realistic "typical sold home" lands in the mid-$300Ks to low-$400Ks, so we plan around $365,000. Inventory moves fast: Redfin shows homes going pending in about 18-19 days, averaging near four offers and selling roughly 1% below list, with hot homes under contract in about two weeks. Lake access, golf-course communities, and proximity to Auburn Hills and Pontiac job centers drive that competition. Named areas: Lakes of Indianwood / Indianwood Hills, Turnberry Estates, St. Andrews Estates / Royal Troon Condominiums.
Where to look
Lake Orion neighborhoods
Keatington (~$300K-$550K)
Master-planned subdivision wrapped around private all-sports Lake Voorheis, with private beaches, marinas, mature trees, and a strong HOA, minutes from downtown and I-75.
Village of Lake Orion Downtown (~$250K-$500K)
Walkable historic core of older homes, condos, and lakefront cottages near shops, restaurants, and the waterfront.
Royal Troon Condominiums (~$250K-$400K)
Lower-maintenance condos within the Indianwood golf corridor.
Lakes of Indianwood / Indianwood Hills
(~$450K-$1M+): upscale golf-and-lake community around Indianwood Lake and the historic Indianwood Golf & Country Club.
Turnberry Estates
(~$500K-$900K): executive homes within the Indianwood golf-course area.
St. Andrews Estates / Royal Troon Condominiums
(~$300K-$700K): golf-course-adjacent estate homes and condominiums.
Schools and commute
Michigan property taxes
Lake Orion property taxes after you buy
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In Orion Township, which assesses Lake Orion, our 2026 Uncapping Study found taxable value typically rises about 39% the year after a sale: roughly $1,400 more in first-year tax on a $300,000 home at the township's homestead millage. We build your payment on that post-sale number.
In Samantha's words
County alone does not tell you much. We would never say you are in a particular county so here are your taxes. It does not work like that. We need the actual property.
Local resources
Check Lake Orion records yourself
The official offices behind the tax and school details on this page.
- Orion Township Assessing Department, for parcel records and current taxable value
- Lake Orion Community Schools, for district boundaries and enrollment
- Oakland County Treasurer, property taxes, for county property tax records
Choosing a mortgage broker near Lake Orion
Lake Orion buyers shop very different homes, from lakefront properties to subdivisions and condos across Orion Township, and lenders do not treat them the same way. Because Align is a broker, one application goes to multiple wholesale lenders, and Samantha matches the loan to the property instead of forcing it into one bank's guidelines.
That comparison is worth having. In a 2024 Polygon Research analysis of federal mortgage data, commissioned by United Wholesale Mortgage, broker borrowers paid about $10,662 less over the life of a $400,000 loan than borrowers at nonbank retail lenders. Yet in a federal survey of 2023 home buyers, 66% applied with only one lender or broker.
Samantha lives and works in Oakland County and handles each loan herself, with a processor behind the scenes. Over the last 12 months her loans averaged under 14 days from application to clear to close, across more than 100 loans, so your financing is ready well before the closing date in your purchase agreement.
Already preapproved with a big national lender? Bring us the Loan Estimate and we will show you where we can do better.
What our clients say
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Align Lending helped make purchasing my home in Madison Heights a smooth experience. I appreciated the regular updates and clear explanations along the way.
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I highly recommend Align Lending to anyone looking for a mortgage broker in Southeast Michigan. The team was knowledgeable, responsive, and easy to work with.
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As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
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Samantha was extremely helpful during my home loan process in Novi. Communication was quick, the instructions were clear, and everything stayed on track through closing.
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Want to shout out Samantha for the expert guidance, made my first-time homebuyer experience seamless! It exceeded expectations and was a stress free process throughout. Grateful for all your help and loving my new home in Bloomfield Hills!
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Samantha Shelton was absolutely amazing! She far exceeded any expectations we had. Samantha was our biggest cheerleader throughout the entire home buying process! It literally felt like my best friend was helping us navigate and cheering us on from start to finish. I would recommend her and the team to anyone; you will be in THE best hands. She is so knowledgeable and kind. This was the best, easiest and least stressful mortgage process ever.
Individual experiences. Results vary.
Lake Orion mortgage questions
If yours is not here, ask it on the call. There are no dumb questions.
What is the typical home price in Lake Orion, MI 48360?
The typical home value in Lake Orion is about $415,000, with Zillow showing roughly $414,600 (up ~5.5% year over year) and Realtytrac putting the median sale price for ZIP 48360 near $404,900. Interior subdivision homes generally run $350K-$600K, while direct lakefront properties can range from $700K to $4M+.
What are the property taxes like in Lake Orion?
The effective property tax rate is about 0.91%, below Michigan’s ~1.05% median. In the Lake Orion school area the 2023 millage was about 38.86 mills for a principal residence and 56.86 mills for non-homestead/second homes, producing a typical 48362 bill near $3,061. Because four districts (Lake Orion, Clarkston, Rochester, Pontiac) cross Orion Township, your exact rate depends on the parcel.
How much income do I need to buy a median-priced home in Lake Orion?
As a rough guide, a household income of about $115,000-$135,000 makes the ~$415K median home comfortable, assuming roughly 20% down, prevailing rates, and keeping the payment near a 28% front-end ratio (about $2,700-$2,900/month for principal, interest, taxes, and insurance). With a smaller down payment you’d want more income. The local median household income is about $101,000, so many buyers combine incomes or bring equity from a prior home.
Which neighborhoods should buyers look at in Lake Orion 48362?
Popular options include Keatington (a lake-lifestyle subdivision on all-sports Lake Voorheis, roughly $300K-$550K), the upscale Indianwood golf-and-lake communities such as Lakes of Indianwood, Turnberry Estates, and St. Andrews Estates (roughly $450K to $1M+), and the walkable downtown Village of Lake Orion (roughly $250K-$500K).
Which schools serve homes in 48360?
Most of 48360 is served by the well-regarded Lake Orion Community Schools, which operates about 13 schools including Lake Orion Community High School; Oakview, Scripps, and Waldon middle schools; and elementaries such as Blanche Sims, Carpenter, Orion Oaks, Paint Creek, Stadium Drive, and Webber. A few parcels fall into the Clarkston, Rochester, or Pontiac districts.
What drives the economy and what's the commute like from Lake Orion?
The area’s economic anchor is GM’s Orion Assembly plant, the largest employer, with about 3,000 direct jobs and an estimated 10,000 regional supporting jobs, and GM is investing roughly $4 billion to build Silverado, Sierra, and Escalade models there starting around 2027. Downtown Detroit is about 39 miles away, a 42-50 minute drive via I-75, while Auburn Hills and Pontiac job centers are much closer.
How fast do homes sell in Lake Orion?
It’s a competitive market. In peak season many homes go pending in about 18-19 days, often with multiple offers, and inventory sits around 1.4 months. Activity slows in winter, when median days on market climbed to roughly 44 in December 2025, so timing and pricing strategy matter.
Talk with a local mortgage expert
Tell Samantha what you are trying to do in Lake Orion and she will tell you what actually matters for your situation, including whether the timing is right.
- 1
Tell us what you are trying to do
Not what product you want. What you are actually trying to accomplish.
- 2
We look at your situation
A licensed Align loan officer works out what matters most for you specifically.
- 3
You leave with a plan
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
