Category: Buying a Home

VA Home Loans for Military Veterans | Free Appraisal

About Veterans Day As the United States continues fighting overseas, the population of military veterans continues to increase. According to the most recent Census information there are over 21 million veterans that have served our country. The growing population of veterans struggle to receive proper healthcare and are faced with repeated VA hospital related scandals… Read more »

Michigan Vacation Home Mortgage | Second Home Mortgage Loan

Historically real estate has been one of the best investments you can put your money in with year over year positive appreciation and tax advantages.  You may already have a place you call home but adding on an investment property may make financial sense.  At Riverbank Finance, we offer second home loans and a vacation home mortgage… Read more »

Tips to Avoid Closing Delays when Buying a Home

Mortgage Closings are stressful. Let’s not add to it! Congratulations! You have found the home of your dreams! You have all of your documentations in order! You are ready to move in! All you have to do is close on your mortgage! But wait, did something go wrong that could potentially prolong your loan closing?… Read more »

Let’s Pay Our Mortgage, Then Our Credit Cards!

When you pay your bills, how do you prioritize? Credit cards, mortgage, other bills?  Mortgage, credit cards, other bills? The normal payment hierarchy, which mortgage lenders expect, ranks mortgages as the top priority when paying bills. This hierarchy was not managed during The Great Recession – and as most of us personally know, still has… Read more »

How Mortgage Lenders Choose Your Mortgage Rate

Mortgage loans are detailed products and it is fair to say that one size does not fit all when it homes to home loans. The interest rate that you may qualify for on a mortgage may be different than what others qualify for based on their situation. This short video from MSNBC explains how mortgages… Read more »

Top 10 Mortgage Mistakes that Slow Down Home Loans

In today’s competitive real estate market it is important to get through the mortgage process quickly and efficiently. Avoid these top 10 mortgage mistakes to keep sellers happy and close your loan quickly! Mortgage Underwriters are picky! They will not accept incomplete documents. Be sure to provide ALL PAGES of required documents including Bank Statements,… Read more »

New MSHDA Grant | MSHDA Down Payment Assistance Flaws

  What everyone is referring to as the new MSHDA grant is not free money. Actually, it is not even a grant. It is a second mortgage that may be used in place of a down payment when buying a new home in the form of down payment assistance. Contrary to what most people assume,… Read more »

HomePath Mortgage Loans for Buying Fannie Mae Foreclosures in MI

A HomePath Mortgage allows a home buyer to buy a home with a low down payment and flexible mortgage terms with no appraisal, no mortgage insurance and even seller paid closing costs. This unique home loan program offers the best of all financing terms for qualified buyers. This conventional loan product is only available one… Read more »