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A Comprehensive Checklist Before Making an Offer on a House
Before taking the plunge into homeownership, it’s essential to have a comprehensive checklist in hand that ensures informed decisions throughout the process. This checklist will help you navigate the complexities of buying a house and ensure that you consider all the important factors before making an offer. Tips to Follow Before Making an Offer on…
Read MoreFive Things to Avoid When Buying a Home
When you are preparing to buy a home, whether it’s your first home or your fifth, the process may seem overwhelming. This is the biggest purchase of your life, so it pays to be prepared. Here are five things to avoid when buying a home. Don’t Rush Into a Decision Buying a home is a…
Read MoreHow much can I afford to spend on a home?
Determining how much you can afford to spend on a home depends on various factors, such as your income, debt-to-income ratio, credit score, down payment, and other financial obligations. Here are some general guidelines to help you estimate a reasonable home price range. Determine your monthly income. Start by calculating your monthly income, including all…
Read MoreFive Things You Should Know Before Buying a House
Buying a house is one of the most significant financial decisions people make in their lifetime. Whether it’s your first home or a new property to add to your investment portfolio, purchasing a house requires careful consideration of several factors. Here are the five things people should know before buying a house. Know Your Budget…
Read MoreHow to Remove Private Mortgage Insurance (PMI)
If you’re in the market for a new home, you’ve likely heard the term Private Mortgage Insurance or PMI. Do you know what it is? And more importantly, how to remove PMI from your mortgage? We’re here to help. What is PMI? From Freddie Mac: For homeowners who put less than 20% down, Private Mortgage…
Read MoreWhat are the benefits of homeownership?
Owning a home is a quintessential part of the American dream. Homes give families a sense of security and belonging. Homes are where holidays are celebrated and memories are made. Homeownership has a variety of practical benefits, too: Building equity: As you make mortgage payments, you build equity in your home, which is the difference…
Read MoreWhat is debt-to-income ratio?
Your debt-to-income (DTI) ratio is the percentage of your income that goes toward paying your monthly debts. DTI can often be overlooked as many people assume that a good credit score and a high income are the only two factors needed to be taken into consideration when seeking to purchase a home. However, for many…
Read MoreMSHDA First-Time Home Buyer Assistance Programs
If you’re a first-time home buyer, getting enough money for a down payment can seem like a major hurdle. But there’s good news! The Michigan State Housing Development Authority (MSHDA) has a program that helps home buyers afford their down payment by loaning them up to $10,000 towards it. This is what you need to…
Read MoreWhat determines my mortgage interest rate?
In the quest for a home, one of the first questions a borrower asks is: What is the interest rate today? The answer often times has to do more with the borrower then the lender. Surprised? Here’s how borrowers can impact their interest rates. Credit Score: Lenders use your credit scores to predict how reliable…
Read MoreTips to Improve Your Credit Score
In today’s world, your credit score may be the most important number impacting your buying power. Can you purchase a home? Can you buy a car? Do you qualify for a credit card? Ask your credit score. Whether you’re in the red or in the green, your credit score is key. Here’s more about credit…
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