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As the economy gets stronger, many Michigan homeowners are interesting in obtaining a second home mortgage. We see it this time of year every summer. Michigander’s are heading “up north” to enjoy the beauty of the Mitten State during our short summer. For those of us who have grown up here, being stuck in stop [...]
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When searching for a loan officer, there are numerous advantages a mortgage broker can give you that you simply aren’t guaranteed to get at a mortgage lender or bank. Shopping for a mortgage or a Loan Officer here in Southeast Michigan to help you with the mortgage process? This has always been, and continues to [...]
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Find out different circumstances in the mortgage industry that could shorten your loan officer’s attention span, and how to find the right lender for your needs. With historic low mortgage rates lingering for the last 3 years and no signs that the housing industry is slowing down, it may be hard to get answers from [...]
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There are many ways that your 401(K) balances can help you qualify for a mortgage, including down payment and income reservation requirements. The stock market (Dow Jones Average) continues to close at record levels (above 15,000) this spring. It is difficult to remember that the Dow Jones was sitting at 6626 just over 4 years [...]
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Overlays add tighter restrictions to mortgage guidelines and differ by lender, making it hard to know exactly what you qualify for. It seems like shopping for a home loan continues to get harder by the day. It can be an exhausting process trying to figure out if you fit into the “approved” box for the [...]
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First Time Homebuyers are Unprepared for Getting a Mortgage, Zillow Survey Finds Buying your first home can be an intimidating process for folks here in Michigan. A low mortgage rate market paired with a shortage of homes for sale has created a very competitive market, making it difficult for prospective homeowners to find their ideal [...]
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Metro Detroit’s Crazy Housing Market – What It Means To Michigan Homeowners What a ride it has been for those of us who have chosen to “stay” and ride it out here in the great state of Michigan. The double whammy of the automotive collapse and then the housing collapse has left many folks in [...]
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Zillow Survey Reveals Most Common Mortgage Misconceptions among Homebuyers Low mortgage rates have been plastered everywhere by the media for what feels like forever, and every homeowner has had to think about refinancing their mortgage at least once. Believe it or not, most folks who can and should refinance their mortgage now have NOT done [...]
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Our main goal at First Commerce Financial is to help you save money! Refinance applications are still 75% of all Mortgage applications taken right now and we expect this to be the case through the rest of the year. This is especially true in Michigan where rising home values are allowing more homeowners to lower [...]
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The age old “break-even” question: Does it make sense for me to refinance? The “go go” years for mortgages in the early 2000’s have left many folks scarred when it comes to refinancing their existing mortgage. The recession hit Michigan early and hard. The unfavorable experience that many went through during those years is completely [...]
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