Category: Buying a Home

Second Home Loan Rates Skyrocketing in 2022

Posted on January 18, 2022 by Anthony Bird - Buying a Home, Local Michigan, Mortgage Rates, Second Mortgage, Vacation Homes

Fannie Mae has announce that they will be raising rates on second home loan for all purchases after April 1st, 2022

DACA Loans in Michigan

Posted on January 27, 2021 by Anthony Bird - Buying a Home, FHA Mortgage, Local Michigan, Mortgage Tips

DACA mortgages in Michigan are here! On January 20th, 2021 the US Department of Housing and Urban Development (HUD) has announced that all immigrants under the Deferred Action for Childhood Arrivals (DACA) program will be eligible to apply for a Federal Housing Administration (FHA) backed mortgages. This new qualification for FHA loans is effective immediately.… Read more »

2021 Conventional Loan Limits

Posted on December 15, 2020 by Anthony Bird - Buying a Home, Local Michigan, Mortgage Tips, Refinance

Each year the Federal Housing Finance Agency (FHFA) reviews home appreciation and makes adjustments to the maximum conventional loan limits. With our booming housing market the FHFA was able to increase the new conforming loan limits substantially for 2021. Conventional loans are home loans sold to Fannie Mae and Freddie Mac. Nearly all banks and… Read more »

No the Feds Did Not Just Drop Mortgage Rates

Posted on March 15, 2020 by Anthony Bird - Buying a Home, FHA Mortgage, Mortgage Rates, Mortgage Tips

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 »

Making the Decision to Buy vs Rent in Michigan

Posted on February 18, 2020 by Anthony Bird - Buying a Home, Local Michigan

A decision that many people face in life is deciding whether it is cheaper to rent vs buy a home in Michigan. The answer is not the same for any two people since there are so many variables in basing your housing decision. The best place to start is by researching your options and to… Read more »

How New FICO 10 Credit Score Changes Affect Home Buyers

Posted on February 5, 2020 by Anthony Bird - Buying a Home, Local Michigan, Mortgage Tips

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 »

Feds Cut Rates But Not Mortgage Rates

Posted on October 30, 2019 by Anthony Bird - Buying a Home, Local Michigan, Mortgage Rates, Mortgage Tips

You may have heard that the Federal Reserve has been cutting rates to slow economic slowdown. Industry experts predict that they may cut the Fed rates again this week. It would be a surprise to the economy if they did not follow through with another cut. With this said, it is important to know that… Read more »

What are Today’s Mortgage Rates?

Posted on September 15, 2019 by Anthony Bird - Buying a Home, Local Michigan, Mortgage Rates, Mortgage Tips, Refinance

There is a lot of confusion when it comes to mortgage rates. You may see rates on the news, TV commercials, internet ads and promotions at your bank but what really are the today’s mortgage rates? The answer to this question is not straight forward to understand. When it comes to mortgage rates, there is… Read more »