Yes, a home seller can contribute toward a buyer’s closing costs. These contributions are commonly called seller concessions, and they can help reduce the amount of money a buyer needs to bring to closing. However, there are limits on how much a seller can contribute, and those limits can depend on your loan program, down […]
You found the house you want to buy, but there’s one problem: you still own your current home. Do you have to sell first? Not necessarily. It may be possible to buy your next home before selling your current one, depending on your finances, available equity, and the mortgage options you qualify for. For homeowners […]
When you’re buying a home, you’ll have no shortage of mortgage options. From national online lenders to local mortgage companies, it can be difficult to know which is the right choice. While every buyer’s needs are different, there are several advantages to working with a local mortgage lender. Local Market Knowledge A local lender understands […]
If you have student loans, you may be wondering if homeownership is still within reach. The answer is yes. In fact, many homeowners are successfully buying homes while paying off student loans. Having student loan debt doesn’t automatically prevent you from qualifying for a mortgage. The key is understanding how lenders evaluate your overall financial […]
If you’re planning to buy a home, you’ve probably wondered, “How long does it take to get a mortgage?” The short answer is: Most home loans close in about 30 days, but every situation is different. The timeline depends on several factors, including how quickly documents are provided, the type of loan, the appraisal, and […]
One of the biggest myths about buying a home is that you need a huge savings account before you can even think about becoming a homeowner. The truth? Many buyers qualify with much less money than they expect. So, how much money do you actually need to buy a house? The answer depends on several […]
Scrolling through home listings is exciting. It’s easy to imagine yourself in a new kitchen, relaxing on the back patio, or hosting family holidays in a space that’s finally your own. But before you schedule showings or fall in love with a home online, there’s one important step that can save you time, reduce stress, […]
One of the biggest misconceptions about buying a home is that you need perfect credit to qualify for a mortgage. The reality? Many homebuyers are surprised to learn they may be closer to qualifying than they think. While your credit score is an important factor in the mortgage process, it’s only one piece of the […]
Getting pre-approved for a mortgage is exciting. It means you’re one step closer to buying a home. But many buyers don’t realize that what happens after you apply can be just as important as getting approved in the first place. During the mortgage process, lenders continue reviewing your financial information all the way up to […]
In 2020 Michigan Mortgage introduced the Service Scholarship with the goal of recognizing High School Seniors who shared the dreams of pursuing a career in service. Careers in service include: Military Teachers & Educators Government & Politics Police Firefighters First Responders Doctors & Nurses For 2026, we received dozens of applicants and reviewed each one […]
