Category: Buying a Home

Conventional 1% Down Mortgage – Your Shortcut to Affordable Homeownership!

Posted on June 12, 2025 by - Buying a Home, First Time Home Buyer, Local Michigan

Conventional 1 Down mortgage

Riverbank Finance LLC is excited to offer the new Conventional 1% Down mortgage program. This down payment assistance program is better than 99% financing; You purchase a home with a 1% down payment and we will pay up to a 2% down payment towards your home purchase! This gives you 3% equity at closing! Important… Read more »

30 Year Mortgage vs 15 Year Mortgage: Which is the Best?

Posted on July 3, 2024 by - Buying a Home, First Time Home Buyer, Local Michigan, Mortgage Rates, Mortgage Tips

Deciding between a 30 year or 15 year mortgage term.

When you are buying a home or refinancing a mortgage, an important decision is to compare a 30 Year Mortgage vs 15 Year Mortgage. Each include their own financial strategy with that may compliment your family’s goals. Let’s dive into the details, compare these two popular options, and see what loan term might be the… Read more »

The First-Generation Homebuyer Loan to Assist New Buyers

Posted on May 3, 2024 by - Buying a Home, First Time Home Buyer, Local Michigan, Low Down Payment Loans, Mortgage Tips, Zero Down Loans

loan program for first generation homebuyers

On May 1st, 2024 the FHFA announced the First-Generation Homebuyer Loan program. This is a home loan targeted at homebuyers whose parents have not owned real estate. Those who qualify under this loan may receive discounted mortgage rates, down payment assistance or help with closing costs. This new program is part of their Final Rule… Read more »

Do I need a Mortgage Pre-Approval to buy a Home?

Posted on January 12, 2024 by - Buying a Home, First Time Home Buyer, Local Michigan, Mortgage Tips

Mortgage Pre-Approval

A mortgage pre-approval is given when a loan officer has looked in depth into your finances and has calculated the amount that you are likely approved to borrow to buy a home. They will base your pre-approval on estimated monthly payments, loan amount and mortgage rate. Homebuyers may need a mortgage pre-approval before they are… Read more »

DSCR Loan Guide: No Income Mortgage Loan for Investors

Posted on August 18, 2023 by - Buying a Home, Investment, Local Michigan, Rentals

dscr loans

Qualify for a no income home loan without using your personal income documents or tax returns with a DSCR Loan. As a real estate investor, this loan program allows you to avoid the high rates and points commonly associated with private loans or commercial financing. Additionally, you can bypass the lengthy approval processes and strict… Read more »