One step of buying a house is completing the final walk-through. A final walkthrough is different than a home inspection. A home inspection typically takes place within a week after the seller accepts your offer and the purchase agreement is signed. If the home inspection [...]
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, [...]
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 [...]
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 [...]
New research has revealed a renewed sense of optimism among young first-time homebuyers. Despite the tight housing industry, Generation X, Millennial and Generation Z homebuyers, many of them renters, believe 2019-2020 is the right time to get into the real estate market. So what is [...]
According to the Zillow Housing Aspirations Report, 45% of those surveyed said that one of their greatest regrets is renting rather than buying – which is five times the number of homeowners (8%) who regret buying instead of renting. The report also found that renters [...]
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 [...]
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 [...]
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 [...]
