2024 Conventional Loan Limits jump as home values have continued to increase throughout 2023. Each year, the FHFA adjusts the conforming loan limits based on its third quarter House Price Index (HPI). This report shows a 5.5% increase in home values. The 2023 Conventional loan limit is set at $726,200 for single family homes. Using the rate... Read more » The post 2024 Conventional Loan Limits for Michigan Mortgages first appeared on Michigan Mortgage Blog ..read more

The FHA Streamline Refinance program is available for Michigan homeowners looking to save on interest payments. This program allows you to refinance to today’s low rates without the need for a new appraisal, making it ideal for homeowners with little or no equity. You may qualify for a mortgage refinance to reduce your rate by... Read more » The post Reduce Your Michigan Mortgage Rate with an FHA Streamline Refinance first appeared on Michigan Mortgage Blog ..read more

Are you considering a long term care or assisted living facility for your parent’s housing? These options can be very costly and something independent loved ones may unwilling to consider. Using the Michigan Family Opportunity Mortgage, you may be able to buy a home for your parents with a low down payment and affordable mortgage... Read more » The post The Family Opportunity Mortgage: An Affordable Way To Buy A Home For Your Parents first appeared on Michigan Mortgage Blog ..read more

Student Loan Begin Repayments The rising cost of education has meant that a significant number of graduates are left with student loans to repay when they enter the workforce. These debts can, unfortunately, make it more difficult for people to become homeowners. While student loans may limit your buying power when it comes to buying... Read more » The post How to Qualify for a Mortgage with Student Loans in 2024 first appeared on Michigan Mortgage Blog ..read more

Student Loan Begin Repayments The rising cost of education has meant that a significant number of graduates are left with student loans to repay when they enter the workforce. These debts can, unfortunately, make it more difficult for people to become homeowners. While student loans may limit your buying power when it comes to buying... Read more » The post How to Qualify for a Mortgage with Student Loans in 2023 first appeared on Michigan Mortgage Blog ..read more

Qualify for a no income home loan without using your personal income documents or tax returns with a DSCR Loan. As a real estate investor, this loan program allows you to avoid the high rates and points commonly associated with private loans or commercial financing. Additionally, you can bypass the lengthy approval processes and strict... Read more » The post DSCR Loan Guide: No Income Mortgage Loan for Investors first appeared on Michigan Mortgage Blog ..read more

If you bought a home with a contact for deed, you may be researching how to refinance a land contract. When it comes to real estate, there are several financing options available for both buyers and sellers. One such option is a land contract, which allows for an alternative route to homeownership. Although this method... Read more » The post How to Refinance a Land Contract: What Homeowners Must Know first appeared on Michigan Mortgage Blog ..read more

With limited housing inventory, many buyers are seeking ways to buy a home For Sale by Owner (FSBO) in Michigan. Buying a home in Michigan is one of the most significant milestones in one’s lifetime, and it can be both exciting and overwhelming if you do not do the proper research. In recent years, more... Read more » The post Buying a Home For Sale by Owner in Michigan – Dream or Nightmare? first appeared on Michigan Mortgage Blog ..read more

When searching for Michigan’s top real estate agents, doing your research is crucial. A real estate agent is like your secret weapon, guiding you through the market, negotiating on your behalf, and ensuring your needs are met. From qualifications and experience to communication skills and personal compatibility, these tips will help you make an informed... Read more » The post Michigan’s Top Real Estate Agents: How to Find a Rockstar Realtor first appeared on Michigan Mortgage Blog ..read more

Riverbank Finance LLC is excited to offer the new Conventional 1% Down with Equity Boot home loan program. This program is better than 99% financing. You purchase a home with a 1% down payment and we will pay up to a 2% down payment towards your home purchase! Important Update! New program now available as... Read more » The post Purchase a Home with a 1% Down Mortgage first appeared on Michigan Mortgage Blog ..read more