News and Updates in our home turf Grand Rapids, MI.
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 »
Many financial advisors, like Dave Ramsey, recommend getting a 15 year fixed rate mortgage when you buy a home or refinance. There are several benefits to paying your mortgage off sooner compared to keeping it around 30 years, however, there are also associated risks that should be considered. As you would guess, shorter term mortgages… Read more »
Riverbank Finance LLC is an experienced mortgage brokerage that has an extensive list of lending partners offering a wide variety of financing. We work hard to provide the best options for home loans at low rates and costs. Our lender lineup also covers most programs for cream of the crop, large down payment borrowers to… Read more »
We have been receiving endless calls, texts, and emails from past and future clients asking about refinancing their mortgage. First of all, thank you for trusting us to be your mortgage advisor. We truly want the best for our clients. Our goal is to educate and provide information on what is happening in the mortgage… Read more »
The Coronavirus has wreaked havoc on the financial markets so far in March 2020. Investors have been fleeing from stocks and investing in lower risk assets such as Bonds, Treasury Notes and Mortgage Backed Securities. This has helped us hit the lowest mortgage rates in history. The news is quick to report on the low… Read more »
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 »
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 »
Mortgage Broker Growth What is a Mortgage Broker? Mortgage Broker Benefits Loan Support Transparency on Rates and Fees Loan Options How to become a Mortgage Broker With the recent shift in the mortgage industry, many loan originators are wondering how to become a mortgage broker. The rise of a major trade organization, the Association… Read more »
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