Entering the realm of mortgages can often feel like deciphering a secret code. To help you navigate the intricacies of the home financing process, we’ve compiled a list of the 25 most common acronyms  and mortgage jargon used in the mortgage industry. Whether you’re a first-time buyer or a seasoned homeowner, understanding these acronyms will…

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In the heart of Metropolitan Detroit, the dream of homeownership beckons to first-time buyers. As you embark on this exciting journey as Detroit first-time home buyers, understanding the basics of qualifying for a mortgage is paramount. This multi-post guide will take you through key steps, terms, and considerations to ensure a smooth path to securing…

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Many clients frequently inquire about various aspects of the mortgage industry and homeownership, including property investment. These discussions often revolve around the potential of real estate as an investment. While I typically express my belief that property ownership is a wise choice, there is a unique consideration when it comes to multifamily properties, particularly in…

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  When contemplating the purchase of a home in Metropolitan Detroit, one of the primary considerations should be assessing your borrowing power. In other words, how much house can you afford? This holds great importance for several reasons: it prevents you from exploring homes that are beyond your financial means, it ensures you’re not limiting/overextending…

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When it comes to reducing your monthly mortgage payments, there’s no shortage of options. Refinancing, a popular choice, allows you to lower your interest rate, extend the mortgage term, or eliminate mortgage insurance. However, refinancing often involves fees and can be a complex process. Another common approach involves having your home’s taxes reassessed, which has…

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One of the most frequent questions I encounter during initial client consultations is a seemingly straightforward yet complex one: “How much should I put down on my house?” While a perfect world scenario might suggest a 20% down payment for a comfortable monthly payment, reality often presents a more nuanced situation. There are instances were…

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In recent years, the housing market has witnessed unprecedented home value appreciation. We’ve seen national appreciation rates of 12% in 2022 and 16% in 2021, preceded by several years of increasing prices, starting in 2012. However, starting in 2019, we started to really see the craziness, that continues in some instances today. Massive over bids,…

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Paula Christine has seen many people make financial mistakes when buying a home.  Just because you’ve been approved for a $350,000 mortgage doesn’t mean you can afford it!  Our guest today is Marc Edelstein, mortgage broker with Ross Mortgage. We cover all things mortgage, including: First steps when applying for a mortgage What happens when property values are re-assessed…

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