News and Updates in our home turf Grand Rapids, MI.
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 »
GRAR ReBar 2024 represents a learning real estate camp held at a bar (R.E. Bar- camp) that promotes sharing winning tips, tricks and strategies to be successful in the Real Estate World. Show up to meet and mingle with industry experts in real estate, insurance, title and mortgage lending. This relaxed environment of sharing will… Read more »
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 »
2024 Conventional Loan Limits jump as home values have continued to increase throughout 2023. Each year, the FHFA adjusts the conforming loan limits based on its third quarter House Price Index (HPI). This report shows a 5.5% increase in home values. The 2023 Conventional loan limit is set at $726,200 for single family homes. Using the rate… Read more »
The FHA Streamline Refinance program is available for Michigan homeowners looking to save on interest payments. This program allows you to refinance to today’s low rates without the need for a new appraisal, making it ideal for homeowners with little or no equity. You may qualify for a mortgage refinance to reduce your rate by… Read more »
Are you considering a long term care or assisted living facility for your parent’s housing? These options can be very costly and something independent loved ones may unwilling to consider. Using the Michigan Family Opportunity Mortgage, you may be able to buy a home for your parents with a low down payment and affordable mortgage… Read more »
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 »
Student Loan Begin Repayments The rising cost of education has meant that a significant number of graduates are left with student loans to repay when they enter the workforce. These debts can, unfortunately, make it more difficult for people to become homeowners. While student loans may limit your buying power when it comes to buying… Read more »
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