MSHDA Approved Lender Explains New Asset Limits for Down Payment Assistance Program

By |2019-06-07T13:44:18+00:00June 7th, 2019|Down Payment Assistance Programs|

The MSHDA MI Home Loan program is a popular mortgage product that has been helping many people pursue their dream of home ownership by offering $7,500.00 in down payment assistance. First, what are some of the requirements for a MSHDA Loan? Minimum credit score of [...]

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Oakland County Mortgage Company Says Less Baby Boomers Are Downsizing Their Homes

By |2019-05-31T13:07:36+00:00May 31st, 2019|Real Estate News|

A recent study from Trulia indicates that more and more baby boomers are saying no to downsizing and staying in the home where they hold so many family memories. “We’re just not seeing that much downsizing,” says Alexandra Lee, a housing data analyst at Trulia, [...]

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How Michigan Homebuyers Can Avoid Over-Paying for a House

By |2019-05-28T18:09:37+00:00May 28th, 2019|First Time Home Buyer|

If you are shopping for a home in 2019, you're probably aware of how competitive the market is for buyers. This is especially true during spring and summer months as buyers find themselves in many multi-bid situations. This is all the more reason to be [...]

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Rochester FHA Lender Gives 7 Easy Ways to Save Money for Your Down Payment

By |2019-05-17T17:22:09+00:00May 17th, 2019|Real Estate Tips|

Saving for a down payment can seem overwhelming especially if you are already on a tight budget. Where will your savings come from? You could pick up some extra hours at work or even change jobs for a pay increase. But there are also little [...]

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Mortgage Lender in Rochester MI Explains Why Credit Scores May Vary Between Different Reporting Companies

By |2019-05-10T18:21:16+00:00May 10th, 2019|Loan Eligibility|

Have you ever wondered why there are several versions of your credit score? Maybe you obtained a free credit report only to find that your mortgage lender came up with a completely different score. How can this be? This is because not all credit reporting [...]

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How Will Baby Boomers Affect the Housing Market? Oakland County Mortgage Lender Explains

By |2019-04-26T17:04:35+00:00April 26th, 2019|Real Estate News|

There has been a housing shortage for awhile now, leaving a less than ideal market for millennials and first time home buyers. But Fannie Mae predicts as baby boomers begin to downsize or move into senior care facilities, more housing will be available and prices [...]

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Oakland County Lender Gives Tips for Borrowers Who Are Self Employed

By |2019-04-20T14:27:15+00:00April 19th, 2019|Uncategorized|

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 [...]

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43% of Next-Home Buyers will Use Previous Mortgage Lender from First Home

By |2019-04-13T13:03:36+00:00April 12th, 2019|Real Estate News|

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 [...]

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Michigan Portfolio Lender Answers Frequently Asked Questions

By |2019-04-05T19:09:12+00:00April 4th, 2019|Portfolio Loans|

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 [...]

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How to Get Approved for a Non Warrantable Condo Loan

By |2019-04-04T15:38:03+00:00March 29th, 2019|Home Loans|

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 [...]

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