Financing
Getting a Mortgage – What You Need and What You Will Do
At 616 REALTY, we know that applying for a mortgage can be a time-consuming process, but knowing the process and gradually gathering all the materials you need, will make it less overwhelming! Of course, the mortgage lender needs first and foremost, a thorough understanding of your income. This will help you to get a pre-approval…
Read MoreMichigan Real Estate Trends in 2022-2023
Need some drama? The real estate market in Michigan has been a willing provider over the past couple of years! Never a dull moment it seems! With low inventory and high demand, the prices soared, inspections were waived, and home buying was a challenge for the gritty and tenacious. This year and the predictions for…
Read MoreMortgage Interest Rate Report – Week of 8/29
Mortgage rates held steady last week ahead of Federal Reserve Chair Jerome Powell’s Friday speech at the Jackson Hole Economic Symposium. We will see more fully this week how the mortgage market responds to Powell’s hawkish tone regarding rising interest rates. Here’s the latest report from Mortgage News Daily as of August 26, but…
Read MoreMyth or Fact: 20% Down Payment
Myth or Fact: 20% Down Payment How many times have you heard the 20% rule for mortgage down payments? We hear it all the time, and we wanted to reach out today to let you know it’s not nearly that cut and dry, especially in the current housing market. In fact, the idea that…
Read MoreSeller Financing – The Good and The Bad – What You Need To Know
Most of us have bought and sold real estate or land but in the traditional way of securing a loan or mortgage from a bank to make the purchase. Sometimes conventional options aren’t available. Fortunately, there is another way (many ways, actually); sellers can finance the sale and allow buyers the ability to make direct…
Read MoreThe 4 Keys to Budgeting For A Home You Can Afford
Buying a home is a big, exciting decision, one that warrants a lot of forethought and planning. Of course, the fun stuff like perusing online housing sites, driving through neighborhoods, and daydreaming about the style and decor of your dream home are the fun aspects of house-hunting and planning. The budget on the other hand…
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