2024 Conventional Loan Limits jump as home values have continued to increase throughout 2023. Each year, the FHFA adjusts the conforming loan limits based on its third quarter House Price Index (HPI). This report shows a 5.5% increase in home values. The 2023 Conventional loan limit is set at $726,200 for single family homes. Using the rate… Read more »
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 »
Are you considering a long term care or assisted living facility for your parent’s housing? These options can be very costly and something independent loved ones may unwilling to consider. Using the Michigan Family Opportunity Mortgage, you may be able to buy a home for your parents with a low down payment and affordable mortgage… Read more »
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 »
Qualify for a no income home loan without using your personal income documents or tax returns with a DSCR Loan. As a real estate investor, this loan program allows you to avoid the high rates and points commonly associated with private loans or commercial financing. Additionally, you can bypass the lengthy approval processes and strict… Read more »
If you bought a home with a contract 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 »
With limited housing inventory, many buyers are seeking ways to buy a home For Sale by Owner (FSBO) in Michigan. Buying a home in Michigan is one of the most significant milestones in one’s lifetime, and it can be both exciting and overwhelming if you do not do the proper research. In recent years, more… Read more »
When searching for Michigan’s top real estate agents, doing your research is crucial. A real estate agent is like your secret weapon, guiding you through the market, negotiating on your behalf, and ensuring your needs are met. From qualifications and experience to communication skills and personal compatibility, these tips will help you make an informed… Read more »
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