There are a number of questions that you will have once you decide you want to buy a house. Here are the first four questions out of the gate that you need to ask your mortgage lender. What mortgage types do you offer? A conventional loan may not be your best bet. Consider other types… Read More
5 Factors That Influence Mortgage Loan Approval
Buying a house involves getting approval for a large amount of money through a loan. You are not getting approval for a credit card or line-of-credit. A home purchase is most likely the single largest investment you will ever make. For that reason, you want to be aware of anything that might affect your mortgage… Read More
USDA Mortgage Loan vs Conventional Fixed Mortgage Loan: How To Choose
The USDA mortgage loan program is one of the best-kept secrets in the home buying market today. This zero-down, 100 percent financing home loan is sponsored by the United States Department of Agriculture to promote homeownership in less-dense communities across the U.S. Often known as the USDA Rural Development Loan (RD Loan) or Rural Housing… Read More
6 Advantages of Using a Local Mortgage Lender
Local lending with community banks makes sense when you want personal service, knowledgeable lenders and local decisions – which makes the process go smoother for you. Working with Chelsea State Bank you get the advantage of a lender with local knowledge of home values; greater flexibility; understanding of the local economy; decision making done locally;… Read More
10 Factors That Qualify You For A USDA Mortgage Loan in Michigan
Some of the criteria that qualify you for a USDA mortgage loan in Michigan include — income, down payment, credit scores, and more. Getting a USDA loan is not much different than getting a conventional mortgage. Here are 10 factors that can impact your loan approval. 1. Community Bank Approval with USDA USDA is a… Read More
Getting Pre-Qualified for a Mortgage is Key to Buying Your Next Home
Know before you buy is good advice. When buying a home, it’s important to understand what you can afford. That’s why getting pre-qualified for a mortgage is the best way to start. A mortgage pre-qualification can be best described as a prediction on the amount you can borrow. There are many costs associated with buying… Read More
Don’t Get Tripped Up Out of the Gate: Have Your Mortgage Qualification Paperwork in Order
It’s not done until the paperwork is done. So true for a mortgage qualification process, too. Make sure you have the documents you need at the start to ensure that you get to final approval of your mortgage without a lot of hassles. Have it in-hand before talking to your community bank loan officer. At… Read More
How Long Does It Take to Get a Mortgage?
You’ve found the perfect home, with the best imaginable location, layout, size, finishes, and price. You’re ready to buy, but there’s one problem: you haven’t started the mortgage process, and the seller will only accept offers from pre-approved buyers. Unfortunately, you won’t be able to make that happen by tomorrow. How long it takes to… Read More
5 Mistakes People Make After Mortgage Pre-Qualification
While it may seem obvious that you need to keep paying your bills during the period between a mortgage pre-qualification and your settlement date, some would-be borrowers neglect their finances. Getting pre-qualified for a mortgage is no easy task, so the last thing you want to do is lose sight of your finances after you have been… Read More
What Financing Options Exist for Home Remodels, Mortgages & House Construction?
When your living space no longer fits your needs, you have options. Here are financing options to consider if you’d like to begin house construction, move to a new home, or remodel your current home. Your options for Home Remodels, Mortgages & House Construction include: