home loan: Newbie's Guide to Escrow Accounts - 03/25/19 02:14 PM
Wonder why you even need an escrow account?  Most lenders require them if you put less than 20% down on your purchase. The real reason you have one is so that the lender can be sure your taxes and homeowner's insurance are paid.  The logic is that if you put at least 20% down, you will have enough coin in the game to make sure that those necessary expenditures are taken care of.
Your escrow account is analyzed annually to see how much you paid in and how much they paid out.  If you've over-deposited then you get offered the option of having … (10 comments)

home loan: FHA Slashes Mortgage Insurance Rates - 01/15/15 11:00 PM
HUD has cut the mortgage insurance rates for FHA loans.  With 3.5% down, the current annual rate is 1.35%.  As of January 26, 2015, that rate will go to .85%.  What a great savings of .5% for  home buyers!  On the average $175,000 purchase, that is a savings of $71.60 PER MONTH! This bold move will make it possible for home buyers to qualify for a larger loan.
What happens if you already have a loan in process at the higher mortgage insurance rate?  It's even better news.  FHA will allow lenders to cancel case numbers which were issued on or … (8 comments)

home loan: Low Down Payment Home Loan - 01/09/15 01:15 AM
I am SO excited to tell you about this new low down payment home loan!  We are one of very few lenders in our area to roll out this new Fannie Mae loan program which features only 3% down.  This is a great product which is a huge alternative to FHA loans which have the really high mortgage insurance for the life of the loan.  There are 3 versions.  Straight 3% down purchase, My Community 3% down and a 97% refinance HARP-like loan.
Click on the picture to watch the video and learn more.

 
Click here to see the … (10 comments)

home loan: How a Great Real Estate Agent Can Help You Buy Your Next Home - 10/08/14 06:17 AM
I have worked with a lot of Realtors in my career as a mortgage loan officer.  I've seen them all from super-competent to I wonder how they ever passed the licensing test!  I'm happy to report that there are a lot of good Realtors in my area.                                                                                            
And please, DO engage the services of a … (2 comments)

home loan: Five Reasons to Fall in Love with a VA Home Loan - 03/19/13 04:03 AM
What's so special about VA Home loans?  Plenty, I say!  For years, few loan profesionals have focused on this incredible niche of serving those individuals who serve us.  With tightening underwriting guidelines and dwindling product availability, suddently the VA Home Loan is popular again!
VA Home Loans have held a soft spot in my heart for several years. I appreciate not only the joy and satisfaction which comes from serving our men and women of the United States Military, but also the benefits of the VA Home Loans for those clients.

Here are the top five reasona you will also … (14 comments)

 
Peggy Wilson, Michigan Mortgage Pro (University Lending Group)

Peggy Wilson

Michigan Mortgage Pro

Ann Arbor Township, MI

More about me…

University Lending Group

Address: 2395 Oak Valley Drive, Suite 200, Ann Arbor, MI, 48103

Mobile: 734.238.3MTG (684)

www.peggyloans.com Peggy Wilson, Michigan mortgage banker offers useful tips for daily living. She explains different loan programs, translates mortgage guidelines into understandable language and helps Realtors get their deals to the closing table with the least amount of hassle.


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