 |
Michigan Mortgage Rates and Home Loan LendersMichigan home owners can find the lowest rates and work with the best mortgage lenders by leveraging the power of the Internet. Shopping for a mortgage loan can be done from the convenience of your living room sofa. Whether you live in Detroit, Grand Rapids or Traverse City you can leverage the net to help find the best home loan lenders. Applying for a mortgage over the phone or online does not change even if you are exploring a cash out refinance of your primary residence, purchasing a second home or your new dream home. The best way to get a low rate mortgage and the best mortgage deal is to compare multiple banks and lenders. If you are a consumer with good or bad credit you may be eligible to qualify for a mortgage loan from Fannie Mae, Freddie Mac or a FHA loan through the department of HUD. Most consumers who are purchasing a home with a minimal down payment are likely to look at qualifying for a FHA mortgage as the down payment requirements are less than five percent. Home owners can apply for both first and second mortgage loans. The state of Michigan will have state specific underwriting guidelines. The state has passed legislation that if you are a mortgage broker or lender that is not a bank, you are required to complete state mortgage licensing and training. If you are purchasing a primary residence, condo, investment property, second home or commercial property, expect your underwriting guidelines to vary based on lender and state specific guidelines. Consumers who are shopping for the best mortgage rates and loan terms should compare good faith estimates from both local and national lenders to get the best loan terms. Consumers who are purchasing a second home in Michigan may want to compare local lenders in the area as well as national lenders as guidelines for second homes and investment properties will vary by mortgage lender. We can help you compare Michigan mortgage rates and loan terms for: Ann Arbor, Canton, Detroit, Grand Rapids, Troy, Warren and the entire state of Michigan
|
|
Rates, News & Advice Articles
June 13, 2011
The stock market tried to mount a rally on Monday, but finished the day relatively flat, a growing signal that the pessimism in the market may be around to stay for the summer. The DOW was up almost 100 points in early trading action as investors were looking to buy into some bargains from the sell...
QRM Yet Another Federal Blunder In Fixing The Housing Market
QRM – Qualified Residential Mortgages is probably the dumbest idea the government has rolled out in the past 24 hours. An idea whose origination stems from the colossal collapse of the economy and U.S. housing markets would ensure the collapse of the American Real Estate Market. The simple economics...
June 4, 2011
The continued decline in stock prices, weakness in housing and the employment markets over the past sixty days has very few silver linings. The one area that has benefitted from the market changes is the mortgage market, where fixed home mortgage rates have continued to improve. Loan rates dropped to...
May 26, 2011
May has been a great month for the mortgage market as long term interest rates have moves substantially lower this month following a dip in bond yields. The ten year treasury bond move below 3.1 this week, over seventy basis points off of its high levels of the year. The correlation to fixed mortgage...