Find the Perfect Mortgage, Just for YOU!

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FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal
down payment. FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer low minimum down payments, Reasonable credit expectations, and flexible income requirements.

Buy a house with as little as 3.5% down.
Ideal for the first-time homebuyers unable to make larger down payments.
The right mortgage solution for those who may not qualify for a conventional loan.

 A Conventional loan refers to a mortgage that  typically require higher credit scores and lower down payments.

Conventional loans offer a variety of terms and options, including fixed-rate and adjustable-rate mortgages, making them a popular choice for borrowers who have strong credit histories and financial stability. 

A Non-QM (Qualified Mortgage) loan is a type of mortgage that doesn't meet the standards set forth by the Consumer Financial Protection Bureau (CFPB) for qualified mortgages. These loans are typically designed for borrowers who don't meet the strict criteria for traditional mortgages, such as those with non-traditional income sources or lower credit scores. Non-QM loans offer flexibility in underwriting criteria, and consider factors beyond just credit score and debt-to-income ratio.

Non-QM loans are specifically designed for self-employed and 1099 borrowers who can’t qualify using traditional w2's or tax-return-based methods.

 VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment.

The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.
The Veterans Administration provides a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.

. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action.
 

 A jumbo loan in Michigan is any loan amount exceeding the conforming loan limit of $806,500 for a single-family home. This is because a mortgage loan that is larger than what Fannie Mae and Freddie Mac can purchase is considered "jumbo" or "non-conforming". For most areas in Michigan, the limit is $806,500, although some high-cost areas can have a slightly higher limit.  

Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can't be guaranteed by Fannie and Freddie, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.

 USDA loans are low-interest mortgages with zero down payment and is used to buy a home in a designated area that covers several rural and suburban locations. .

What is a Refinance?

You replace your current mortgage with a new one.  Homeowners usually refinance to:

• Get a lower interest rate
• Lower their monthly payment
• Change the loan term (for example, from 30 years to 15 years)
• Take cash out of their home’s equity (called a cash-out refinance)

Think of it as resetting your mortgage with new terms.

A home equity loan lets you borrow money using the equity in your home, while keeping your current mortgage exactly the same.

Equity = The difference between your home’s value and what you owe.

It is:

• A second loan
• Paid in fixed monthly payments
• Given as a lump sum

• Refinance = Replace your existing mortgage
• Home Equity Loan = Keep your 1st mortgage and add a second loan

What is a DSCR Rental Loan?

DSCR stands for Debt Service Coverage Ratio. A DSCR loan 

focuses on the property’s ability to generate rental income sufficient to cover the mortgage payment, rather than your personal income. 

This makes it a valuable option for investors who may have other investments or whose personal income does not meet traditional loan requirements.