Michigan First Mortgage Blog

Cut Your Energy Costs

Cutting back on your energy use doesn’t require a lot of effort. In fact, most of the things you’re being charged for can be easily avoided. Here are some small ways to save big money.

Unused = Unplug

Whether it’s the toaster, blender, diffuser, space heater or laptop charger, anything plugged in is using energy – even when it’s not in use! We suggest unplugging anything that isn’t used daily. It requires a small amount of effort to plug it in when you do use it, but according to the Department of Energy, the cash savings will add up.

Line Dry Laundry

Dryers use …

How to Boost Your Credit Before Buying a Home

Your credit score has the potential to determine the result when it comes to big purchases like a home. Often times, without a good score – typically in the 700s or higher – you’ll face higher interest rates on a loan.

While a credit score can’t be corrected overnight, there are a few ways to help push it in the right direction.

Decrease Debt

Paying down your credit cards can significantly help in the long-run. When your credit is under review, lenders will be looking at your history, balances and trends. If they can see that you’re making an effort to pay off …

Budget-Friendly Ways to Winterize Your Home

As the cold months seem to get colder, it’s important to remember winter home care. Putting in the necessary work early could save you money over time. Here are some easy ways to winterize your home this season:

Change Furnace Filters

Remember to clean or replace these at least once a month during the winter. When the filters get dirty, it restricts airflow in the home, which can increase energy demand. By cleaning the filters monthly, you’ll be saving money throughout the winter.

Reverse Fans

A ceiling fan isn’t just useful in the summer, it can be extremely useful in the winter too! Reverse …

The Benefits of a VA Loan

Military homebuyers and their families have access to one of the most unique loan programs. VA loans are guaranteed for almost all veterans, reservists and active service members by the United States Department of Veterans Affairs. A VA loan can be used to purchase a primary residence, including single-family homes, condominiums, multi-unit properties and more.

While there is a wide range of eligibility, minimum guidelines and requirements, there are many perks once you’ve been cleared.

No Down Payment, No Problem

Conventional homebuyers are always required to make a down payment, sometimes up to 20%. If you’re approved for a VA loan, you won’t …

Home Equity Loans and Home Equity Line of Credit (HELOC)

Home equity is determined by the market value of a home after the property owner has paid off all debts – like interest and mortgage. The terms “home equity” and “home equity line of credit” may sound the same, but both loans operate in very different ways.

Home Equity Loan

This type of loan operates like an auto loan – meaning that when you get approved, you get the total deposited into your bank account in one lump sum. Borrowers are subjected to monthly payments, which include principal and interest. It’s important to note that you are borrowing against your home’s equity. This …

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