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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 »
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Category: First Time Home Buyer
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 »
2014 USDA Rural Development Loan Eligibility Updates
The National USDA Office in Washington DC has confirmed that they will be using 2010 Census data to update the USDA Rural Development program eligibility maps. Current USDA maps are based on the dated 2000 Census data. This change will not take effect until October 1st, 2014 however the changes will affect many areas nationwide… Read more »
Buy a house with your Tax Refund as a Down Payment
The end of the year can be a very joyous time for many of us. It is a time when we can spend some quality time with our families, experience the joy of giving to others, and reflect on how thankful we are. The end of the year also allows us to reflect on our… Read more »
10 Reasons to Buy a House while still in College
There are many reasons why buying a house while still in college can be beneficial. Leaving the nest of your parent’s home and finding your own place to live during college can be a lot of work. Most college housing is overpriced and hard to get into so why not review your options and buy… Read more »
WHERE ARE ALL OF THE FIRST TIME HOME BUYERS?
What’s going on with the first time homebuyer? It is hard to decipher the recent housing number reports as all of the first time home buyer seem to be disappearing. Because of recent market changes the May housing report is at it’s highest numbers since May 2006. Bloomberg, also reported that mortgage applications have sunk… Read more »
Affect on Mortgage Rates from Bernanke Announcement
Federal Reserve chairman Ben Bernanke announced today that they may be easing the quantitative easing programs as early as this year. This program includes the purchases of mortgage backed securities (MBS) which are the packaged residential mortgages sold by banks and mortgage companies. The slowing of these purchases would take affect if the unemployment rates… Read more »
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