Your Local Mortgage Lender
Located in St. Clair Shores, Michigan
Personalized Mortgage Experience
Team Ashley offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
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Mortgage Programs
Experience the best mortgage experience located in St. Clair Shores, Michigan.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Should I Buy Now or Wait and Here Is the Question Worth Asking Before You Decide
The Question Buyers Are Asking and Why the Answer Is Different for Everyone
A lot of buyers are waiting right now. Some are waiting for home prices to come down. Some are waiting for mortgage rates to improve. Some are waiting to see what happens with the economy before making any move. Rosemarie Ashley of the Ashley Mortgage Team understands the uncertainty completely. Buying a home is one of the biggest financial commitments a person makes and wanting to feel like the timing is right is a reasonable and understandable place to be.
But there is a question underneath the waiting that is worth asking directly.
If You Are Waiting, What Are You Actually Waiting For?
Waiting is not one thing. It can mean very different things depending on what is actually driving the hesitation and those different reasons lead to very different decisions.
Are you waiting for a specific price point? A specific mortgage rate? Do you need more money saved before you feel comfortable moving forward? Are you concerned about the stability of your job or your business? Or is the deeper concern that you will buy today and then watch home prices fall after closing?
Each of those is a legitimate concern. Each of them also points toward a different answer and a different conversation. Treating them all as the same reason to wait produces a strategy that does not actually address any of them.
The Question That Cuts Through the Uncertainty
Rosemarie’s most useful question for buyers who are waiting is this. What would actually have to happen for you to feel ready?
If prices came down would you be ready? If rates came down would you be ready? If the economic picture felt more settled would you be ready? Or would there be something else to wait for once those conditions were met?
That question is not designed to push anyone toward a decision they are not ready to make. It is designed to help buyers understand whether they have a specific, addressable condition for readiness or whether they are in an indefinite holding pattern that no market condition will actually resolve.
What You Can Actually Know
Nobody knows exactly what home prices, mortgage rates, or the economy will look like a year from now. That uncertainty is real and it applies equally to everyone giving an opinion about what the market is going to do.
What you can know is your own financial situation. You can know what monthly payment fits comfortably within your budget. You can understand the financing options available to you right now. And you can ask the specific questions that help you determine whether buying now, continuing to wait, or taking some other step makes sense for your specific goals and the life you expect to be living over the next several years.
There is not one right answer to whether you should buy now. The right answer depends on your financial situation, your goals, and your timeline. Rosemarie Ashley is not here to tell you what that answer is. She is here to help you find it.
If you are trying to figure out whether you are actually ready to buy or what you would need to know before making that decision call Rosemarie Ashley or Burney at the Ashley Mortgage Team at 586-585-2626.
Sources
NAR.realtor
MortgageNewsDaily.com
FederalReserve.gov
ConsumerFinancialProtectionBureau.gov
Investopedia.com
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