Prior posts have addressed refinancing your primary home – the place you live in every day. But what if you own another property in Michigan, like a cozy cabin up north in Kalkaska, a lakeside cottage Lewiston, or a rental property in Melvindale? Can you refinance those too? The answer is usually yes, but it’s…

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Going through a divorce is one of the toughest things anyone can face, and when a home and a mortgage are involved, it adds another layer of complexity. As a Certified Divorce Lending Professional (CDLP), I spend a lot of time helping people in Michigan figure out their home loan options during this challenging time.…

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Dreaming of a brand-new kitchen, an updated bathroom, or finally finishing that basement in your Michigan home? Many homeowners want to upgrade or update spaces in their homes, but are unsure how to pay for them. That’s where a cash-out refinance can become your smart budget partner! As we talked about before, a cash-out refinance…

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You’ve got your eye on a refinance, and that’s smart! Just like when you bought your home, refinancing isn’t free. There are certain costs that get incurred, often called “closing costs,” that either you or the lender, or ca combination of both, will need to pay. Don’t worry, though – understanding these costs upfront helps…

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When you’re looking to refinance your home in Michigan, you’ll hear two important terms a lot: Loan-to-Value (LTV) and Home Equity. These two terms are super important because they often decide if you can refinance, what kind of loan you can get, and even the interest rate you’ll pay. Let’s break them down simply. What…

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When you’re thinking about refinancing your home here in Michigan, you’re probably focused on getting a better interest rate. And guess what? One of the biggest things that affects the interest rate you’ll be offered is your credit score. Think of your credit score like a financial report card. It’s a number that lenders use…

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So, you’re thinking about refinancing your Michigan home? That’s great! Now, let’s talk about the different ways you can do it. There are two main types of refinancing that most homeowners in Michigan choose: Rate & Term Refinance and Cash-Out Refinance. Understanding the difference can help you decide which one best fits your goals. 1.…

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Congratulations, you’re a Michigan homeowner! Now that the excitement of moving in has settled, it’s time to think about the ongoing costs of homeownership. While your mortgage payment is a big one, it’s not the only expense you’ll need to budget for. Beyond the Mortgage: Essential Homeownership Costs in Michigan Property Taxes: These are the…

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Congratulations! You’ve officially closed on your first home in Michigan! You’ve signed the papers, gotten the keys, and now it’s time for the exciting part: moving in and making this house your home. While moving can be a bit chaotic, with some planning, you can make the transition smoother and start enjoying your new space…

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