Working on a self-employed basis has its pros and cons. One problem that self-employed workers face is getting approved for a mortgage. Common Roadblocks for Self Employed Workers Debt-to-Income Ratio - Debt-to-Income Ratio is the measurement of your total debt compared to your income. This [...]
Most next-home buyers feel more confident with purchasing their second home than they did buying their first. Just like many other first experiences, they have learned from their mistakes as a first-time buyer. In a survey conducted in March for Mr Cooper, Researchscape International found [...]
At Main Street Bank we offer many loan products and creative solutions to accommodate the various needs of our borrowers. For example, many homebuyers are more than qualified for a loan, but they do not meet the guidelines for a conventional loan because the property [...]
Did you know that even the best buyer with perfect credit and debt to income ratio can still get turned down for a mortgage? How is that even possible? This can happen if a condo is considered non warrantable. Simply put, a non warrantable condo [...]
If you're shopping homes this spring it can be pretty easy to get excited. The weather is just breaking and you may be imagining yourself on the back patio, relaxing with family or curled up with a good book. But before you get ahead of [...]
Spring is just around the corner, the season for warmer temperatures, longer days and typically a busy time of year for home buyers to search for their dream home. And when shopping for the perfect home, it can be very easy to get caught up [...]
Michigan Mortgage Lender Explains how Millennial Home Loans are Increasing Rising mortgage rates, the increase in home prices and tight inventory are not stopping millennials from pursuing their dream of homeownership. According to the Ellie Mae Millennial Tracker, 30 year Fixed Rate Mortgages are on [...]
Are you prepared to leave your home on a moment’s notice in the event of an emergency? Thankfully Michiganders don't have to worry about hurricanes but there are still events that could occur without warning, including terrorist attacks, flooding, tornadoes and other disasters. And with [...]
Realtor.com recently produced a report for the top 10 housing markets in the US for 2019. Millennials are applying for mortgages in these cities in record numbers, and the markets are experiencing an influx of job growth and new construction. “These markets are millennial magnets [...]
If you are a first time homebuyer, getting into the real estate market is exciting but the new responsibilities may seem overwhelming at first. You will have a new financial commitment, as well as new duties to maintain your property inside and out. Renting a [...]
