News and Updates in our home turf Grand Rapids, MI.
Should I pay off my mortgage early? How much money will it save me? How much extra should I pay each month? If I pay an extra one hundred dollars each month, when will my mortgage be paid off? As you can imagine, we get these questions a lot. They are all excellent questions,… Read more »
Use Your Tax Refund as a Down Payment on a Home One of the biggest roadblocks to homeownership for prospective first time homebuyers is the down payment. Given the cost of rent, utilities, student loan debt, and many other expenses, it is hard to save up thousands of dollars for a down payment. Some first… Read more »
Housing Inventory Reaches 18-Year Low The number of active listings dropped again last month to the lowest level since 1999, according to the National Association of Realtors. Only 1.65 million homes are available for sale, which equates to roughly 3.6 months of inventory nationwide. This figure is downward from the 3.9 months of inventory reported in December… Read more »
7 Mortgage Myths Debunked It is no secret that the home buying process is a long and complicated one. Getting started can be intimidating and confusing, so we’ve compiled a list of common mortgage myths we hear from our clients. Here, we’ll break them down and explain the truth about mortgages, in plain English. 1.… Read more »
5 Reasons to Buy a Home in the Winter Baby, its cold outside—and its only going to get colder. Before you put your home search on hold for the next four months, check out these benefits of buying a home in the winter! 1. Less Competition During the winter months, there are less buyers shopping, and… Read more »
Refinance Your Home Without an Appraisal Soon, homeowners will be able to refinance their homes without an appraisal! Beginning December 10th 2016, Fannie Mae will offer an Enhanced Property Inspection Waiver (PIW) for ONE-IN-FOUR transactions. What is a Property Inspection Waiver? A Property Inspection Waiver is Fannie Mae’s offer to waive the requirement for an… Read more »
Home Improvements and How to Finance Them I don’t know what it is about the fall, but it seems to bring out the DIY-er in all of us. Instead of flocking to the beach or heading north for a quick getaway, everyone is spending their weekends at home improvement stores. If you’ve been contemplating a remodel of your… Read more »
Cider & Donut Season in West Michigan Fall is officially upon us, and every good Michigander knows what that means– cider and donuts! A friendly office debate about where to find the best apple cider and donuts in West Michigan inspired a donut tasting at the Riverbank Finance office today. So, here are the results; a definitive ranking of… Read more »
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