Category: Mortgage Tips

Buying a Home with Bad Credit: What You Need to Know

buying a home with bad credit

Buying a home is a dream for many, but for those with bad credit, the process can seem daunting. The good news is, it’s still possible to buy a home with bad credit, but it may require some extra effort and planning. In this article, we’ll break down the steps you need to take to… Read more »

Is 2023 a Good Time to Buy a Home or will we see a Crash?

is 2023 a good time to buy a home.=

You may be wondering, is 2023 a Good Time to Buy a Home? If you have been paying attention to the housing market for the past few years, you will know that it’s been a wild ride. Many families hoped to buy a home during 2020 and 2021 to take advantage of the extremely low… Read more »

Top 10 Uses for a Home Equity Line of Credit

Now offering HELOC mortgages

Many homeowners are using their home’s equity to secure a home equity line of credit. A HELOC is typically a second mortgage with interest only payments and low rates compared to credit cards or unsecured debts. Don’t miss out on these top 10 uses for HELOCs. 1. A HELOC can help you consolidate your debt… Read more »

Down Payment Assistance to Buy a Home in Michigan with BorrowSmart

Michigan BorrowSmart Down Payment Assistance Program

Buy a home using down payment assistance in Michigan with Freddie Mac’s BorrowSmart Program. Homebuyers below the Area Median Income (AMI) Limits can receive up to $2500 in down payment assistance. The program is available only for purchase loans being used as a primary residence.  Homebuyers may be eligible with a credit score of at… Read more »

What is a Mortgage Pre-Approval?

Mortgage Pre-Approval

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 »

DACA Loans in Michigan

Michigan Daca Loans

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

2021 loan limits announced

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 »