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Credit is Crucial! When you start thinking of buying a home one of the first things you should do is check your credit score. Contact a loan officer at Riverbank Finance to get a free credit report (or get an instant credit report online now). If you find that you don’t have good credit, you… Read more »
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How Mortgage Lenders Choose Your Mortgage Rate
Mortgage loans are detailed products and it is fair to say that one size does not fit all when it homes to home loans. The interest rate that you may qualify for on a mortgage may be different than what others qualify for based on their situation. This short video from MSNBC explains how mortgages… Read more »
The Housing Market is Recovering Thanks to Expanded FHA Guidelines
Major economic growth has happened within the last few years. This growth has allowed the housing market to build back up from the Great Recession – bringing home prices up as much as 13% in the past year! This has help to aid many underwater homeowners to the surface – that is, if they have… Read more »
Top 10 Mortgage Mistakes that Slow Down Home Loans
In today’s competitive real estate market it is important to get through the mortgage process quickly and efficiently. Avoid these top 10 mortgage mistakes to keep sellers happy and close your loan quickly! Mortgage Underwriters are picky! They will not accept incomplete documents. Be sure to provide ALL PAGES of required documents including Bank Statements,… Read more »
Free Mother’s Day Gift Ideas
At Riverbank, it is our goal to help save you money so why not start by cutting down the costs of making mom happy. Don’t let Mother’s Day transition into feelings of stress rather than of love and happiness. Thankfully for you, Riverbank Finance has come up with a list of the top ten mother… Read more »
New MSHDA Grant | MSHDA Down Payment Assistance Flaws
What everyone is referring to as the new MSHDA grant is not free money. Actually, it is not even a grant. It is a second mortgage that may be used in place of a down payment when buying a new home in the form of down payment assistance. Contrary to what most people assume,… Read more »
HomePath Mortgage Loans for Buying Fannie Mae Foreclosures in MI
A HomePath Mortgage allows a home buyer to buy a home with a low down payment and flexible mortgage terms with no appraisal, no mortgage insurance and even seller paid closing costs. This unique home loan program offers the best of all financing terms for qualified buyers. This conventional loan product is only available one… Read more »
2014 USDA Rural Development Loan Eligibility Updates
The National USDA Office in Washington DC has confirmed that they will be using 2010 Census data to update the USDA Rural Development program eligibility maps. Current USDA maps are based on the dated 2000 Census data. This change will not take effect until October 1st, 2014 however the changes will affect many areas nationwide… Read more »