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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.
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.
Yes! There are a number of bond programs that offer low or no down payment financing options.
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.
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.
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.
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.
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.
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.
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.

The Shift That Anyone Who Tried to Buy Two Years Ago Will Feel Immediately
If you tried to buy a home in Michigan a couple of years ago you remember exactly what that felt like. Waiving inspections. Offering over asking. Writing personal letters just to get noticed in a stack of competing offers. Asking a seller to help with closing costs was not just unlikely to work. It was likely to get your offer dismissed entirely.
That is not where the market is anymore.
What Rosemarie Ashley Is Seeing in Michigan Neighborhoods Right Now
Homes are sitting a little longer in many Michigan neighborhoods before going under contract. Sellers who priced optimistically at the start of their listing period are adjusting when the first number does not generate the traction they expected. And buyers are asking for things again. Help with closing costs. Repairs identified during the inspection. Seller-paid concessions. And they are getting accepted offers more often than before when those requests are structured thoughtfully.
This does not mean every seller is desperate. It does not mean every home is a bargain. A property that is priced correctly and shows well can still move quickly. Some sellers are going to say no and that is entirely their right. But the conversation between buyers and sellers is more balanced than it has been in a long time and that balance matters for buyers who are ready to use it.
Having Room to Negotiate and Knowing What to Ask For Are Two Different Things
This is the distinction Rosemarie Ashley draws that separates buyers who capture real value from buyers who leave opportunity on the table even in a market that favors them.
A lower purchase price is not always the move that helps a buyer the most. Sometimes a seller credit directed toward closing costs produces a better outcome because it keeps cash in the buyer's pocket for moving expenses, repairs after closing, or simply the breathing room that comes with not arriving at the closing table completely depleted. Sometimes free occupancy after closing gives a seller the flexibility they need to accept a slightly lower number. Sometimes the inspection repair credit matters more than the price.
There is no universal right answer. The best structure depends on the specific property, what the seller's situation actually is, what the buyer is trying to accomplish financially, and what the lender's guidelines allow for in terms of how concessions can be applied.
Why the Conversation Needs to Happen Before the Offer Is Written
Once an offer is submitted the options available to the buyer narrow significantly. The structure is what it is and renegotiating major terms after acceptance is a different and more difficult conversation than building the right structure from the beginning.
Rosemarie Ashley's approach is to have the strategy conversation before the offer goes in so the ask is built into the offer from the start rather than pursued as an afterthought.
If you are thinking about buying in Michigan and want to talk through how to structure an offer that actually works for your specific situation reach out to Rosemarie Ashley at the Ashley Mortgage Team.
Sources
NAR.realtor
MortgageNewsDaily.com
MichiganRealtors.com
ConsumerFinancialProtectionBureau.gov
Investopedia.com
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