Home Buying Guides
FHA/VA Condo Eligibility in Michigan: Why Your Dream Home Might Not Qualify (and What Comes Next)
If you’re looking to buy a condominium or townhome using a government loan like an FHA or VA loan, you might run into some obstacles. Let’s explore why this can happen, some solutions, and how to get a condo or townhome FHA or VA approved. Why Government Loans Might Not Work for Condos and Townhomes…
Read MoreBuy Your Michigan Fixer-Upper: New FHA 203(k) Updates Mean BIGGER Renovations & Easier Financing!
Hello, Metro Detroit and Michigan homebuyers! There’s some great news from the U.S. Department of Housing and Urban Development (HUD) that could make your dream home even more affordable and easier to renovate. HUD’s latest Mortgagee Letter 2024-13, which goes into effect on November 4th, 2024, brings updates to the 203(k) Rehabilitation Mortgage Insurance Program,…
Read MoreThe Smart Michigan Homebuyer’s Guide to Condos: Warrantable vs. Non-Warrantable Unpacked
When you’re thinking about buying a condominium or townhome, you might hear the terms “warrantable” and “non-warrantable.” These terms are important because they affect your financing options. Let’s break down what they mean, what makes a condominium or townhome warrantable, and what to do if you’re interested in a non-warrantable property. What is a Warrantable…
Read MoreBehind Your Mortgage: How Fannie, Freddie & Ginnie Mae Shape Your Home Loan in Michigan
When you’re buying or selling a home, you might hear about Fannie Mae, Freddie Mac, and Ginnie Mae. These names are important in the mortgage industry, but they can be confusing. Let’s learn who they are, their history, and what they do. Who are Fannie Mae, Freddie Mac, and Ginnie Mae? Fannie Mae, Freddie Mac,…
Read MoreNeed to Close FAST in Michigan? Your Guide to a 21-Day Mortgage Approval & Closing
If you’re eager to move into your new home quickly, you might be wondering if it’s possible to close a mortgage loan in less than three weeks. While the typical process can take 30-45 days, there are ways to speed things up. Here’s a guide to help you close your mortgage loan quickly. Gather…
Read MoreIs a Conventional Mortgage Right for You? A Metro Detroit Lender’s Essential Guide to Eligibility & Benefits
If you’re considering buying a home in Metro Detroit or anywhere in Michigan, you’ve probably come across the term “conventional mortgage.” But what exactly is a conventional mortgage, how do you qualify for one, and who can benefit from this type of loan? This blog post will break down the essentials of conventional mortgages…
Read MoreLow Down Payment? Less-Than-Perfect Credit? FHA Loans Could Be Your Answer in Metro Detroit
Are you thinking about buying a home in Metro Detroit or anywhere in Michigan? If so, you might have come across the term “FHA mortgage.” But what exactly is an FHA mortgage, how do you qualify for one, and who can benefit from this type of loan? This blog post will break down the…
Read More0% Down in Michigan: Is a USDA Loan Your Secret to Homeownership? (Beyond Just ‘Rural’ Areas)
Are you looking to buy a home in a rural or suburban area of Michigan? If so, a USDA mortgage might be the perfect financing option for you. But what exactly is a USDA mortgage, how do you qualify for one, and who can benefit from this type of loan? This blog post will…
Read MoreCan’t Get a Traditional Mortgage in Michigan? Unlock Homeownership with Non-QM Loans!
Are you considering buying a home in Metro Detroit or Michigan but struggling to meet the strict criteria of conventional mortgage loans? A non-qualified mortgage (non-QM) might be the solution you’re looking for. But what exactly is a non-qualified mortgage, how do you qualify for one, and who can benefit from this type of loan?…
Read MoreWhy Every Michigan Veteran Should Consider a VA Home Loan: The Expert’s Inside Look at Unbeatable Benefits
Are you a veteran, active-duty service member, or a surviving spouse looking to buy a home in Metro Detroit or anywhere in Michigan? If so, you might want to consider a VA home loan. But what exactly is a VA home loan, how do you qualify for one, and who can benefit from this…
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