Michigan Mortgage

Now May Be a Good Time to Look at Your Interest Rate

Self Serving or True?

This post covers something I often think but rarely say because it sounds as though I am being very self serving. But because blog readers are volunteers, I think this is the right medium in which to present it.

COST AND RATE SHOPPING…

How Long Does it Take to Close on a New Home Purchase?

Often, the process takes only three to four weeks. That said, we have to acknowledge that today there are factors that could cause the process to take much longer.

Let’s look at recent proof for this reality.

Home buyers who accepted a deal by April 30th had 60 days to close their deals by June 30th to qualify them for the home-buyer stimulus credit. If deals can be closed in three to four weeks, then why did Congress extend the home-buyer-credit closing date past the 60th day? There are a number of factors that made it necessary…

The loan we love today is spelled – F. H. A.

One of our favorite movies is “Dan in Real Life” The theme song in that movie is great its: “Let my Love Open the Door”

Today’s post is all about giving FHA the love it deserves.

So. . . let my LOAN open the door . . .

Despite the rise in FHA’s up front insurance cost to 2.25% of the loan amount – FHA loans continue to gain market share as the most popular loan for home buyers – and not just first timers either…

Rates Have Risen – Why This Matters Little For Most Home Buyers.

The Point

Make good financial decisions for yourself personally based on your own personal economy and let the greater economy take care of (or not take care of) itself. Just because everyone is buying a home does not mean you are ready. But, if you are ready, now is a very good time to make this happen. The next few years will be a great time historically to purchase a home based on price per square foot of living area.

Why Do Mortgage Rates Have to Rise?

Mortgage Rates – Why Do They Have to Rise?

Well they don’t have to. We cannot know the future. New and unknowable information creates the future for us, and even though we are told that certain things are going to happen, we don’t know for sure that they will until they do.

Let me give you an example…

Why Bother Refinancing – Series

There are many articles being written right now that are highlighting the fact that interest rates are at all time lows but home owners are not making application for new mortgages at as high of numbers as one might think.

The reasons given for this are many and varied…

Fear Mongers and Adjustable Rate Mortgages

This post is excellent advice if you are in an Adjustable Rate Mortgage.

I was recently contacted again by a gentleman who is in an Adjustable Rate Mortgage – he is getting concerned about the situation and what could happen if inflation rises and/or rates rise.

There seems to be a lot of fear about this in many households. If you have an ARM type loan and your current loan balance is higher than your home is worth, you may not qualify for any of the wealth redistribution programs out there – so what can you do? …