Blog

Mortgage Insurance Tax Deductibility – Premiums Paid in 2017

2018-02-15T20:43:08+00:00

The President signed the Bipartisan Budget Act of 2018, H.R. 1892, on Feb. 9, 2018.  The deduction applies to "qualified residences".  Generally, that includes the borrower’s primary residence and a non-rental second home.  As with mortgage interest, borrowers can deduct mortgage insurance premiums that they have paid on both their primary residence and one other qualified [...]

Mortgage Insurance Tax Deductibility – Premiums Paid in 2017 2018-02-15T20:43:08+00:00

Mortgage Rates Surge After Inflation Data

2018-02-14T19:13:38+00:00

Mortgage rates surged again today after the Consumer Price Index (CPI) was higher than expected.  If you are shopping for your new home, be sure to check with your mortgage professional to see how the recent rate increases have changed your payment and amount you qualify for.  Also, keep in mind that lenders will continue [...]

Mortgage Rates Surge After Inflation Data 2018-02-14T19:13:38+00:00

Documenting Your Earnest Money Deposit (EMD)

2018-01-24T02:27:21+00:00

Here we are again discussing earnest money deposits.  I have written about earnest money deposit before and have also talked about bank statements and how not to deposit any funds that cannot be proven.  However, I feel there is still some information that needs to be explained to fill in the puzzle pieces. When it comes [...]

Documenting Your Earnest Money Deposit (EMD) 2018-01-24T02:27:21+00:00

Do you qualify for a Michigan first time home buyer loan?

2018-01-24T02:39:21+00:00

So, you're looking to purchase a home and you would love to use that first time home buyer program, but darn it you owned a home 5 years ago that you sold.  Well, do I have good news for you!  A first time home buyer is defined as someone who is purchasing a home as [...]

Do you qualify for a Michigan first time home buyer loan? 2018-01-24T02:39:21+00:00

Did your credit score improve on July 1st?

2018-01-24T02:41:41+00:00

40,000,000 Credit Scores Could Improve on July 1st, 2017 Did your credit score improve July 1st? Here is why. Starting July 1 another portion of the National Consumer Assistance Plan will go into effect and it should have a big impact on credit scores. The Repositories; Equifax, Experian, and TransUnion will exclude public tax lien [...]

Did your credit score improve on July 1st? 2018-01-24T02:41:41+00:00

Fannie Mae Eases Student Loan Guidelines

2018-01-24T02:49:09+00:00

Fannie Mae announced last week that they would provide relief for those looking to purchase or reduce student loan debt.  Before April 27th, 2017 a home buyer looking to purchase a home would have to count 1% of their student loan balances as a monthly payment and include that in their debt ratio regardless if [...]

Fannie Mae Eases Student Loan Guidelines 2018-01-24T02:49:09+00:00

Michigan Mortgage Rates Continue to Improve After Last Weeks Fed Announcement

2018-01-27T01:01:46+00:00

Mortgage rates continue to get better after last weeks Fed announcement raising the rate by .250%.  But, wait a minute, did you say that mortgage rates continue to get better after the Fed RAISED the rate?  Yes, because when the Fed raises the rate it is raising the rate at which depository institutions lend other [...]

Michigan Mortgage Rates Continue to Improve After Last Weeks Fed Announcement 2018-01-27T01:01:46+00:00

Earnest Money Deposits

2018-01-27T01:03:25+00:00

What is an earnest money deposit?  Simply put, an earnest money deposit or EMD for short is a deposit that you provide when making an offer on a property you would like to purchase.  This shows the seller you are serious about purchasing their home. If you are obtaining a mortgage, the EMD is a [...]

Earnest Money Deposits 2018-01-27T01:03:25+00:00

VA Tidewater

2018-01-27T01:04:42+00:00

My buyer is using a VA loan and I just received a call from my loan officer and they said that the VA appraiser initiated Tidewater?  What the heck is Tidewater?  In a simple explanation, when an appraiser initiates Tidewater, that means that they are having a difficult time finding comparable closed sales to bring [...]

VA Tidewater 2018-01-27T01:04:42+00:00

Crust – Fenton Michigan

2018-01-27T19:46:52+00:00

The next time you are in the Fenton area dropping off documents to my office or are just out and about, you've got to give Crust a try!  I was there the other day and got the #1 Bialy Egg Sandwich with Vermont Cheddar and Applewood smoked bacon....WOW!  Thank you can I have another?! They serve [...]

Crust – Fenton Michigan 2018-01-27T19:46:52+00:00