The Secret for the Most Flexible 15 Year Mortgage

secret to 15 year loan benefits without the risk

Many financial advisors, like Dave Ramsey, recommend getting a 15 year fixed rate mortgage when you buy a home or refinance. There are several benefits to paying your mortgage off sooner compared to keeping it around 30 years, however, there are also associated risks that should be considered. As you would guess, shorter term mortgages… Read more »

Mortgage Guidelines Changing Daily

Guideline Changes Ahead for Home Loans

Riverbank Finance LLC is an experienced mortgage brokerage that has an extensive list of lending partners offering a wide variety of financing. ¬†We work hard to provide the best options for home loans at low rates and costs. Our lender lineup also covers most programs for cream of the crop, large down payment borrowers to… Read more »

No the Feds Did Not Just Drop Mortgage Rates

Fed Funds Rate and Mortgage Rates

It is our goal to educate our clients and advise them on the best options for home loans. The purpose of this post is to clear up confusion on volatility of financial markets and their affect on mortgage rates. Since the Coronavirus has spread globally, mortgage rates have become extremely volatile. It is true that… Read more »

Coronavirus and Mortgage Rates for 2020

Corona Virus Mortgage Rates 2020

The Coronavirus has wreaked havoc on the financial markets so far in March 2020. Investors have been fleeing from stocks and investing in lower risk assets such as Bonds, Treasury Notes and Mortgage Backed Securities. This has helped us hit the lowest mortgage rates in history. The news is quick to report on the low… Read more »

How New FICO 10 Credit Score Changes Affect Home Buyers

Credit Score Updates

A brand new FICO credit scoring model will be used in the summer of 2020. These credit changes will affect millions of home buyers. Every 5 years or so FICO rebuilds their score model. This new scoring model will look at your credit history for the last 24 months, whereas the current model only looks… Read more »

How to Become a Mortgage Broker in Michigan

How to be a mortgage broker in Michigan.

  Mortgage Broker Growth What is a Mortgage Broker? Mortgage Broker Benefits Loan Support Transparency on Rates and Fees Loan Options How to become a Mortgage Broker With the recent shift in the mortgage industry, many loan originators are wondering how to become a mortgage broker. The rise of a major trade organization, the Association… Read more »