Loan Programs
Decoding Your Dream: Understanding Michigan Mortgage Options for First Timers
Welcome back, future Michigan homeowners! In our last post, we talked about the exciting journey of buying your first home in our great state. Now, let’s dive into something super important: how you’re actually going to pay for it! This is where mortgages come in. Don’t let the word scare you; it just means a…
Read MoreMichigan 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 MoreMichigan Gray Divorce: How Reverse Mortgages Can Preserve Senior Home Equity (CDLP Wisdom)
Divorce among seniors, often referred to as “gray divorce,” is on the rise. For couples over 55, dividing assets often involves unique challenges, especially when it comes to real estate. A reverse mortgage can provide a flexible solution, allowing one spouse to retain the marital home while ensuring the other receives their share of equity.…
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 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 MoreReverse Mortgage Truths: Michigan Seniors, Don’t Believe These 5 Damaging Myths!
As a mortgage lender, I often hear concerns and questions about reverse mortgages. These loans can be a valuable tool for homeowners aged 62 and older who want to tap into their home equity while staying in their homes. Unfortunately, misconceptions about reverse mortgages can cause unnecessary fear and hesitation. This blog post aims to…
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 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,…
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