The History of Credit Scores Credit reports and scores have played a large part in many Americans’ lives, but what do we really know about credit scores? Before the use of credit scores, it was up to lenders to decide whether a person would be granted a loan. This method was not always the best… Read more »
Michigan’s Marital Signatory Requirements Effective today April 6th, 2017, both spouses will no longer be required to sign documents (mortgage, rescission, Loan Estimate (LE), Closing Disclosure) unless required by Michigan’s Homestead Law. Prior to this law change, Michigan’s Laws required that female spouses sign mortgage documents to acknowledge liens place on real estate. History of Dower Rights… Read more »
2019 Jumbo mortgage limits are based on guidelines set by Fannie Mae and Freddie Mac. Most consider a Jumbo Loan anything over the conforming limit which is currently set at $484,350 however this may differ depending on the type of financing you are seeking. Referencing he Conforming loan limits for 2019 is the best resource to… Read more »
Finding a lender who will finance a manufactured home can be quite a task, but luckily Riverbank Finance is able to provide programs to help you! It is important to know what to expect and the difference between financing a stick built home and a manufactured home. There are various programs that will allow for… Read more »
Happy 4th of July! Enjoy time with friends and family as we celebrate America’s birthday! In observance of the national holiday, Riverbank Finance will be closed Monday July 4th.
Mortgage rates have dropped yet again in the wake of the Brexit (Britain voting to leave the European Union). The world markets have been very volatile since the news broke early Friday morning. Financial instability brings lower mortgage rates. Now is the best time to buy a home or refinance your mortgage to a lower… Read more »
The first step in considering any home purchase or refinance should always be speaking to a licensed loan officer about getting pre-approved. It is important to have all of your information ready so you do not delay the process. Once you get the good news, comes the fun part, finding out how much your refinance… Read more »
Mortgage rates have dropped again officially hitting the lowest levels in one year which is near historic lows. According to the Freddie Mac weekly mortgage survey, rates are as low as 3.72% for a 30 year fixed rate mortgage and as low as 3.01% for a 15 year fixed rate mortgage. If you have been considering… Read more »
800-555-2098