August 2019

FHA Announces New Condo Approval Policies to Help Homebuyers

By |2019-08-19T12:22:22+00:00August 18th, 2019|FHA Loans|

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 [...]

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Homebuying Tips for Second Time Homebuyers

By |2019-08-09T17:16:03+00:00August 9th, 2019|FHA Loans|

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 [...]

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June 2018

Michigan FHA Loans Can Help Homebuyers with Less Than Perfect Credit

By |2019-03-24T21:09:36+00:00June 22nd, 2018|FHA Loans|

Unfortunately, sometimes a poor credit score can be beyond your control. Perhaps a medical issue caused you to fall behind on payments, or maybe you were out of work for an extended period of time. The good news is there are ways to improve your [...]

April 2018

Frequently Asked Questions About Michigan FHA Loans

By |2019-03-24T21:21:42+00:00April 27th, 2018|FHA Loans|

If you are ready to buy your first (or second) home, but have struggled with credit in the past, it is possible you qualify for a mortgage backed by the Federal Housing Administration (FHA). The FHA has been aiding Americans since 1934 and currently backs [...]

March 2018

Michigan FHA Lender Compares USDA vs FHA Loans. Which is the Right Loan for You?

By |2019-03-24T21:42:57+00:00March 23rd, 2018|FHA Loans|

If you are in the market to buy a new home but find it challenging to come up with a large down payment, there are actually several down payment assistance programs in Michigan that can help borrowers. USDA Rural Development Loans, FHA Loans, VA Loans [...]

February 2018

Are these 4 Myths Keeping You From Home Ownership? Here’s How a Michigan FHA Loan Can Help

By |2019-03-24T21:47:07+00:00February 28th, 2018|FHA Loans|

Are you tired of renting but don't think you would qualify for a home loan? You are not alone. Maybe you find it challenging to come up with a 20% down payment. Perhaps you have had a foreclosure or bankruptcy and think you will never [...]

January 2018

Michigan FHA Loans: Loan Limits, Eligibility and Other Common Questions

By |2019-03-24T21:51:10+00:00January 17th, 2018|FHA Loans|

An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for monthly mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan. FHA loans are attractive to home buyers for the following [...]

December 2017

New FHA Loan Limits Might Make 2018 the Best Time to Apply

By |2019-03-24T21:55:10+00:00December 26th, 2017|FHA Loans|

Macomb County FHA Lender Discusses New Loan Limits The FHA announced recently that the new FHA single family loan limit for Michigan will be $294,515. That brings the purchase price with the minimum down payment to $305,197. With only a 3.5% down payment required, now [...]