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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3 Easy Steps Will Help You Find The Best Refinance Options That Fit Your Mortgage Goals Average Mortgage Rates have fallen for 7 straight weeks here in Southeast Michigan, which has folks once again considering refinancing their mortgage. Whether your goal is to reduce your monthly payments or pay the loan off faster, there are [...]
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18 Months of Home Value Growth Has Opened Up Refinance Options for Michigan Homeowners It is no surprise that the home values continue to rise here in Southeast Michigan. This trend has been going on for over 18 months now and does not appear to be stopping anytime soon. We have witnessed strong home buyer confidence [...]
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HARP 2.0 is allowing Michigan Residents to Manage their Mortgage There were over one million U.S. homeowners who took advance of the Home Affordable Refinance Program in 2012. In January of this year, close to 100,000 homeowners refinanced their mortgage using HARP to improve their financial situation. It was recently released that the deadline for [...]
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Mortgage Brokers Will Offer You the Lowest Rates Possible When it comes down to having a smooth mortgage transaction that saves you the most money, mortgage brokers are the way to go. Not only do brokers have decades of experience in the mortgage field, but they will do everything they can to assure you that [...]
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Low Mortgage Rates Allow “Fence-Sitters” to Now Act It has been predicted that mortgage rates would slowly creep back up in the 4s by the end of the year. However, we are experiencing a window of the lowest rates ever. For the fifth consecutive week, mortgage rates have dropped. If you are buying a home, [...]
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How do I know if I am prepared for my Closing? Whether you are preparing to close on a purchase or a refinance transaction, it is always important that you understand the scheduling of the “Close” for the loan. Michigan is a Non-Escrow state, which means documents are dated for a specific date and borrowers [...]
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Mortgage Brokers Bring More to the Table When you are looking to receive a mortgage loan, what is the first thing you ask yourself? Who will offer me the lowest rates? Who will contact me the quickest? Who has the best form of communication? We find that most people call their current lender first because [...]
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