mortgage advice
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Average Monthly Mortgage Payments for First Time Home Buyers
February 3, 2023
First-time homebuyers often ask us how much their mortgage payment should be, but the answer varies based on individual situations and scenarios. Some of the factors that go into determining your monthly mortgage payment may include your home’s value and the purchase price, your interest rate (as determined by the broader market conditions and your […]
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How to Improve Your Credit Score Before Buying a Home
October 11, 2022
Why is Your Credit Score Important for Mortgages? Lenders estimate your ability to pay back money borrowed based on your credit score. A high credit score can result in a lower interest rate and save you thousands of dollars in interest paid over the life of the loan. At a glance, credit scores measure your […]
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Mortgage Qualification After Bankruptcy: Rules, Timelines, & Information
October 20, 2021
People file for bankruptcy for a variety of reasons both personal and business. Although there are many rules regarding bankruptcy and home buying it is still possible to purchase a new home if you have filed for or gone through bankruptcy in the past. We discussed the topic with some of our licensed Loan Officers […]
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Non-Warrantable Vs. Warrantable Condos
July 31, 2020
Is buying a condo right for you? Condominiums, or condos, can be great alternatives to detached homes. City dwellers, singles, couples, seniors, and many others may find condos that suit their needs and budgets. Others may simply prefer low-maintenance living. Buyers who feel “priced out” of homes may discover condos offer an affordable homeownership alternative. […]
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What Millennials Want in a Home
June 19, 2020
It’s official: Millennials have taken over the housing market. Despite previous trends implying that millennials are uninterested in owning homes, people born between 1981 and 1997 will account for more than half of all mortgages in 2020 according to a Realtor.com study. Rising rent prices and the luring investment potential of homeownership has translated into […]
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How The Mortgage Market & Interest Rates React To Covid-19 “Coronavirus”
March 25, 2020
With interest rates still hovering at or near record lows, many of our customers are asking two simple questions, why and how? To understand why interest rates are low, we first need to examine how interest rates are set. In the U.S., mortgage rates are typically based on the supply and demand for bonds and […]
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What You Need To Do (& Know) To Get Mortgage Ready
March 24, 2020
So, you’re ready to buy a new home, or you think you may be soon. There are many important things to contemplate before getting a mortgage. Buying a home is one of the biggest and most important purchases of your life and signing on for a 15- or 30-year mortgage payment can feel…daunting. But if […]
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Knowing When it is Time to Downsize
January 27, 2020
Moving into a smaller home may feel like a step down, but it has a few upsides: saving money, saving time, and having less clutter in your life. According to a 2018 study by Fannie Mae, it is predicted that there will be a 42% increase in the number of older Americans exiting home ownership […]
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Don’t Be Credit Score Driven
September 17, 2019
“What is the minimum credit score needed to get a mortgage loan?” “What credit score does someone need to qualify?” “Is a certain credit score needed to get a mortgage?” “What credit score does someone need to buy a house? Potential homebuyers in Grand Rapids, who do not feel confident with their credit scores, are […]
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Getting a Mortgage on A Second Home
August 9, 2019
If you have ever thought about owning a place where friends and family can gather, or just a place to unwind and getaway, you’ve also thought about what it takes to finance that second home. First off, don’t let the term “second home mortgage” scare you. We can work with you to make […]