August is the traditional vacation month for many Americans. In Michigan, vacationers go “up north” for relaxation and fun. Some own waterfront cottages or cabins in the woods. Others may spend time at a lakeside rental. For those who do not own a place, the experience of getting away for a week or two inspires […]
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Entries by mimortgage
Next to having a child or getting married, buying a house might be the biggest event in most people’s lives. Purchasing a home is an exhilarating symbol of independence. It is the embodiment of the American Dream. For first-time buyers, the home buying process can seem daunting. Thankfully, Michigan Mortgage is here to help. We […]
Buying a home might be the single biggest purchase you make in your life. You want it to go right. That is why the mortgage lender you choose is critical to making sure your homeownership dreams come true and the experience is hassle-free. Whether you are a first-time buyer needing assistance through the lending process […]
The Doctor Loan has a long history in the United States. First offered to attract new physicians to growing towns in the Wild West, they have evolved over the year. Today, 18,000 new physicians graduate from medical school every year. New physicians can have very specific credit and income profiles that represent a different kind […]
What is a “Zero-Down” Loan? A zero-down home loan is a no-down-payment mortgage offered by the United States Department of Agriculture (USDA) for eligible rural and suburban home buyers. You might be thinking, “but I don’t live in a rural area.” That’s OK. While the purpose of the USDA loan program is to boost home […]
When it comes to getting a home loan, there are a number of options available to U.S. home buyers, but there are three programs that seem to be the most requested. Conventional FHA VA What are the differences in these loan types, and which is right for you? We’ve got the answers. No matter which […]
With all that is taking place around us, purchasing a home may not be top-of-mind for most people. But then again, maybe it is. Before this crisis hit, the spring home buying season was just getting started. And the reality is, many families do need to sell and buy homes, even during a pandemic. Once […]
We’re living in uncertain times. As the COVID-19 pandemic spreads, people are asking what they can do to stay healthy and keep their loved ones safe. The most impactful things you can do to prevent the spread and avoid exposure are still to: Wash your hands often with warm water and soap for at least […]
There are many great reasons to refinance an existing mortgage. Mortgage interest has historically been treated differently than all other debt. In fact, mortgage debt is the only debt eligible for a reduction in federal income taxes. Done correctly, refinancing can be a good financial move (always consult a financial adviser first, of course). Once […]
Can you really own a home with 3 percent down? Yes, yes you can! The 3 percent down payment option is similar to existing conventional loan programs with much higher requirements. This program, however, can better serve first-time homebuyers because of the following. The mortgage provides the security of a fixed-rate loan. The property can […]