Entries by Rob Garrison

How do Escrow Accounts work?

Escrow “accounts” have more to do with your monthly mortgage payment than the initial home purchase. When you borrow money from a bank or direct mortgage lender, this account is where the lender will deposit the part of your monthly mortgage payment that covers taxes and insurance premiums. By collecting a fraction of those annual […]

Tips that Make Getting a Mortgage a Breeze in 2019

Tip #1: Start early. One of the most important mortgage tips you should know before you get started is to understand all of your financial details. This makes the mortgage process go much more smoothly and eliminates surprises throughout the process. Tip #2: Check your credit report for errors. Review your credit report to ensure […]

How to Save for a Down Payment

Even if you don’t plan on buying a house for several years, you have probably started thinking about how to save for a down payment. Saving for a down payment means slowly setting aside small amounts of money and there are a number of ways to do that. 1. Plan ahead. Before you begin saving […]

When is the right time to lock in your interest rate?

Interest rates can be tricky. They change often, rising and falling with the market. We want to make sure you’re getting the best rate possible, and we do that by locking your rate. How and when do we lock? Not all lenders are created equal, as you will see, but we wanted to take some […]

Why a Doctor Loan?

For a new physician excited about the possibility of buying a home but carrying the weight of heavy student debt, a physician mortgage can be a great springboard for entering the housing market. The physician loan (also known as a doctor loan) is designed to help a unique population that often has a high amount […]

Could an FHA loan be the loan for you?

What is an FHA loan? FHA stands for the Federal Housing Administration, which is a government agency. The FHA was created by the Housing and Urban Development Department (HUD) to increase homeownership in the U.S. This loan was designed to allow more home buyers to qualify for home loans by allowing for lower credit scores […]

Tips for Buyers in a Seller’s Market

Don’t let your dream home slip through your fingers. A solid pre-approval letter will give you a leg up. Getting preapproved and having a dependable, air-tight written pre-approval from a respectable lender could never be more important than it is today. In what is called “a seller’s market” multiple offers are being made days and […]

Focus on Your Mortgage First

Assuming that you are good to go on the mortgage front can be risky. Unless you are an individual financing the transaction with cash, your mortgage will dictate the home shopping process itself. Don’t put the cart before the horse. Without a mortgage from a reputable and trusted lender, you may not get a house […]

Bidding War? A Local Lender May Be the Winning Ticket

In one of the most competitive housing markets in history, a local pre-approval is not only a good idea, it is a necessity in giving buyers a competitive edge when competing with other buyers for their dream home. Home purchasers seeking to stand out in this competitive housing market should consider a mortgage based on […]

Benefits of VA Loans in Michigan

One amazing benefit for veterans and qualifying military is a VA loan. It’s amazing how many eligible VA borrows are not advised of this product when shopping for a loan. Many lenders do not provide a VA loan or do not have a working knowledge of the benefits this product offers them and their families. […]