According to a recently released study from realtor.com, approximately 46% of all primary mortgage transactions in the second quarter were from millennials, up from 43% last year. With this generation being a such driving force in the real estate market, it has many people wondering, [...]
Many Americans find themselves asking, "why is it so hard to save money?" It seems like something always comes up that prevents you from contributing to your savings account. Chid expenses, medical bills and unexpected car or home repairs can make it challenging to set [...]
Buying a home for the first time is exciting but you may feel a bit overwhelmed with the process and have several questions about this important transition in your life. In this article we will address your mortgage payment and what you should expect to [...]
At Main Street Bank we've had the pleasure of helping hundreds of buyers fund their dream home. Many of these clients are first time homebuyers and have questions about the financing process. As an Oakland County mortgage lender, we use industry terms that may be [...]
In September of 2017, Equifax announced a data breach that exposed sensitive data of 147 million people - almost half of the U.S. population. This personal information includes names, social security numbers, birth dates, addresses, passports and the numbers of some driver's licenses. The data [...]
Record low interest rates has led to an increase in refinance activity for millennials. According to the latest Ellie Mae Millennial Tracker, an online tool that tracks data from millennial homebuyers, average interest rates on all 30-year loans fell from 4.39% in June 2019 to [...]
As we kick off Labor Day weekend, many Michiganders are planning weekend getaways to enjoy summer activities one last time before temperatures start cooling off. Before you hit the road, be sure you are mindful of road safety are prepared for emergencies should they occur. [...]
What is Debt-To-Income Ratio ? Debt-to-income ratio (DTI) divides the total of all your monthly debt payments by your gross monthly income, producing a percentage. Like your credit score, lenders consider your DTI to be a strong indicator of your financial picture and your ability [...]
Last week, the Federal Housing Administration (FHA) announced revised policies regarding FHA loan approval of condominium units. These policy changes were made in an effort to provide affordable homeownership and become effective October 15, 2019. “Condominiums have increasingly become a source of affordable, sustainable homeownership [...]
Whether you are upgrading from your starter home and moving into something larger or you are an empty nester who is ready to downsize, as a second time buyer, you’re entering the home-buying process with some experience under your belt. However, depending on when you [...]
