mortgage rates are low: Buyers Beware Your Interest Rate May Not Be Locked On Your Loan - 06/27/09 01:03 PM
Have you ever heard the term locking your rate?  It refers to locking your interest rate on your mortgage loan.
You can go through the process of getting approved for a mortgage and have your rate change before you get the loan.  You can get a quote on the interest rate but if it is not locked it may not be the rate you get when you close on your home.
Yes you read right.  Just because you are quoted a rate that may not be the rate you get at the time you actually close or finalize your purchase.
Many … (3 comments)

mortgage rates are low: Credit Tightens as more homes foreclose, First Time buyers have an option in Michigan - 04/13/07 10:25 AM
First Time Buyers still have options even with the tightening of credit for home mortgages.  One of the less often used methods of financing is MSHDA a single family mortgage loan program. There are some restrictions as to income and purchase price limits apply to this mortgage program. Last year (2006) the income limits and purchase price guidelines increased.  Think of a 97% loan instead of a 80% loan where you have to come up 3% of the purchase prince instead of 20% of the purchase price plus closing costs.  To qualify your household income can not be more than $72,250.00 and the maximum mortgage amount they will write with … (0 comments)

Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375, Real Estate Services You can Trust! (Flexit Realty "Flexible Home Selling Solutions") Rainmaker large

Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375

Real Estate Services You can Trust!

Grand Rapids, MI

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Flexit Realty "Flexible Home Selling Solutions"

Address: Grand Rapids, MI, 49544

Office: 616-214-2388

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