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 »
Category: Refinance
How to Refinance a Land Contract: What Homeowners Must Know
If you bought a home with a contact for deed, you may be researching how to refinance a land contract. When it comes to real estate, there are several financing options available for both buyers and sellers. One such option is a land contract, which allows for an alternative route to homeownership. Although this method… Read more »
Is a Cash-out Refinance Mortgage Right for Me?
What is a Cash-out Refinance Mortgage? A cash-out refinance mortgage is a type of home loan where the borrower takes out additional cash beyond the amount due on their existing mortgage. The extra cash is used to pay off debts, make home improvements, or for other expenses. What are the Benefits of a Cash-out Refinance… Read more »
Top 10 Uses for a Home Equity Line of Credit
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 »
Fannie Mae RefiNow Mortgage
New Michigan RefiNow Mortgage introduced to save low-income borrowers thousands by refinancing to lower rates. Lower Costs. Appraisal Waivers Possible.
2021 Conventional Loan Limits
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 »
New Maximum Conforming Loan Limits for 2020
Conventional Loans are now bigger and better. The Federal Housing Finance Agency (FHFA) announced the new conforming loan limits for mortgages sold to Fannie Mae and Freddie Mac in 2020. In most of the U.S., the new 2020 maximum conforming loan limit for one-unit properties will be $510,400. This is an increase from $484,350 in… Read more »
What are Today’s Mortgage Rates?
There is a lot of confusion when it comes to mortgage rates. You may see rates on the news, TV commercials, internet ads and promotions at your bank but what really are the today’s mortgage rates? The answer to this question is not straight forward to understand. When it comes to mortgage rates, there is… Read more »