Home Buying Guides
Michigan First-Time Buyer’s Secret: Your Guide to Down Payment Assistance & MSHDA Loans
Are you a first-time homebuyer in Metro Detroit or Michigan struggling to save enough for a down payment? A mortgage with down payment assistance might be the solution you’re looking for. But what exactly is a mortgage with down payment assistance, how do you qualify for one, and who can benefit from this type…
Read MoreDivorcing with a VA Loan in Michigan? Understand Your Options for Assumptions & Refinancing
Divorce is challenging for any couple, but military families face unique complexities, especially when it comes to real estate and VA loans. Whether you’re an active-duty service member/veteran or the spouse of one, understanding how VA loan entitlements and property division work is essential for a smooth transition. Key Challenges in Military Divorces Handling VA…
Read MoreDon’t Wait! Michigan Home Buying Strategies for Today’s Market & Beyond
In this episode, Paula Christine sits down with Marc Edelstein from Ross Mortgage to discuss whether it’s still an excellent time to buy a home despite rising interest rates and high housing prices. He offers expert advice on real estate investing, dispels common myths about down payments, and explains why waiting to buy could cost…
Read MoreMichigan First-Time Home Buyer: Confidently Calculate Your REAL Budget (Beyond Just the Mortgage)
First-Time Buyers: Here’s How to Calculate Your Budget Your DTI compares your monthly debt payments to your gross monthly income (the amount you earn before taxes and deductions). It’s a key factor lender’s use to evaluate your ability to handle mortgage payments. There are two types of DTI: Front-End Ratio: Focuses on housing expenses, including…
Read MoreMichigan Homeownership Achieved: Conquer Down Payment Challenges with Smart Moves & DPA
Embarking on the journey to homeownership in Southeast Michigan is an exciting endeavor. While renting, it’s entirely possible to build a substantial down payment with disciplined planning and smart financial habits. Here are practical strategies to help you save effectively: 1. Establish a Dedicated Savings Account Open a separate savings account exclusively for your down…
Read MoreIs 0% Down Possible? The Truth About Home Down Payments for First-Time Homebuyers in Michigan
Purchasing your first home is an exciting journey, but figuring out how much you need for a down payment can feel overwhelming. If you’re a first-time homebuyer in Metro Detroit or Ann Arbor, Michigan, this guide will help you understand the basics of down payment requirements for popular loan programs. Who is Considered a First-Time…
Read MoreYour Michigan Mortgage Approval Checklist: Go From Stress to YES Faster
When applying for a mortgage, providing the right documents upfront can streamline the process and help you avoid delays. Lenders require documentation to verify your income, assets, debts, and overall financial stability. Below, we’ve compiled a detailed checklist based on your employment type (self-employed, salaried, or passive income earners) and other potential requirements that might…
Read MoreUnlock Your VA Home Loan Benefit: Clearing Up Myths for Michigan Veterans & Service Members
VA home loans are a fantastic benefit available to eligible veterans, active-duty service members, and certain military spouses. However, misconceptions about these loans can often discourage veterans from using them and cause realtors and sellers to hesitate when considering VA offers. This post addresses the top five myths about VA home loans and explains why…
Read MoreFixed or ARM in Michigan? Make the SMART Mortgage Choice for Your Home & Wallet
Buying a home is one of the most important decisions you’ll make, and choosing the right mortgage is a big part of that process. As a mortgage lender in Metro Detroit, I’m here to help you understand the differences between two popular types of loans: Fixed-Rate Mortgages (FRMs) and Adjustable-Rate Mortgages (ARMs). In this blog…
Read MoreStop the Mortgage Spam! Understanding & Avoiding Credit Trigger Leads in Michigan
If you’re looking for a home loan, you might hear about something called “credit trigger leads.” This guide will help you understand what they are, how you become one, how to opt-out, and why you should be careful. What Are Credit Trigger Leads? When you apply for a home loan, the lender checks your credit.…
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