Michigan First Mortgage Blog

Documents Required for Mortgage Loans

By Sabrina Maas, Mortgage Loan Officer

You may be contemplating whether it is the right time for you to buy or refinance a home. Regardless of  your circumstance, before you get started with the loan process, it’s always best to be organized and begin gathering the documents needed to proceed.

The mortgage loan process consists of a lot of paperwork, which includes providing documents needed for a mortgage that verify your income, employment history, address history, liabilities and assets. You provide most of this information through the application, however, there are several additional documents you may need to provide depending on the …

Should You Buy a House or a Condo?

By Jeff Sugar, Mortgage Loan Officer

Buyers can choose between a traditional house or a condominium when purchasing a home. Aside from location, the housing type is one of the most important decisions you will have to make. Homeowners purchase the house and the land it sits on, whereas condo ownership includes only the living space inside the condo unit and a portion of the common areas of the condo building. There are advantages and disadvantages to both types of housing, and lifestyle and cost can help determine whether a single-family house or a condo is a more suitable dwelling for …

What is Title Insurance?

By Barb Bartus, Sr. Mortgage Loan Officer

Buying or selling a home can be an exciting time. It can also be a bit confusing. Sometimes things feel like they are moving pretty fast, and sometimes some important things can go unexplained – like title insurance.

Title to a piece of property is evidence that the owner is in lawful possession of that property. In Michigan, the seller must convey marketable title to a purchaser.

Title insurance is a unique form of insurance. It protects the real estate owner and lenders against any property loss or damage they might experience because of liens, encumbrances, …

Breakdown of HOA Dues

By Dave Jansen, Lathrup Village Branch Manager

You just received your pre-approval letter from your lender and you’re ready to hit open houses and schedule appointments to walk through your next potential home. You find your dream home or condominium, you contact your lender and ask for estimated payments. The lender asks you a very important question that didn’t even cross your mind…“What are the Homeowners Association dues (HOA)?” If you’re purchasing for the first time you may not have heard of this, know what this means or what it entails. Homeowners Association dues are typically tied with high-end communities and …

House Projects to Work on in the Winter

By Jessica Smith, Mortgage Loan Officer

The winter season is long and cold, but for some, it is the perfect time to start projects, or enjoy winter activities. However you spend your time for the winter months, why not make the most of it by completing a DIY project or two?

When it’s too cold or snowy to go outside, the weekends provide the perfect opportunity to spend some time embracing and improving your indoor space. Deciding which potential home projects to complete before spring arrives may not come easy, but here are a few suggestions:

Bathroom: Re-grout your tile, paint your …

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