Michigan First Mortgage Blog

3 Things to Know About Mortgage Insurance


What is mortgage insurance and how does it work? Mortgage insurance is designed to lower the risk to the lender. With mortgage insurance, you may qualify for a loan you might not be able to get otherwise. It’s primarily for home buyers making a down payment of 20% or less. While it does increase the cost of your loan, it will be calculated into your monthly mortgage payment, so you most likely wouldn’t be making a separate payment to another company.

What to know:

Mortgage insurance is designed to protect the lender. Unlike other forms of insurance, like medical or auto, mortgage insurance …

The 6 Homes You Meet When House Hunting

House hunting…not quite as easy as they make it out to be on TV. Finding your perfect house can take patience and open house after open house. When looking for a home, here are the six types of homes you’ll find.

The Fixer-Upper
This is the home that makes you say things like “we could fix this ourselves,” when you’re not handy at all. It is a good deal, but can you update everything by the time you move in?

The Overpriced Dream
This is the house that has everything you have ever dreamed of. It’s perfect, except for that price tag. You might …

Winter is Coming: Get the Most From Your Homeowner’s Insurance Claims

In Michigan, we can get some crazy weather during the colder months, which can lead to home damage. Leaks, floods, ice damage, roof problems from snow accumulation, or even freeze-thaw damage can wreak havoc on your home. If the damage is great enough for you to file an insurance claim, here are a few ways to make sure you’re maximizing the payout you should get with your policy:

Review your policy – thoroughly.

Understand your coverage prior to an emergency, so you’re not scrambling to figure out what’s covered when your roof starts leaking during a big thaw. Sometimes you’ll find you’re …

How to Select the Right Home Inspector

It can be tempting to save money anywhere you can when purchasing a home. There are many things you can (and should) deal hunt on, a home inspector is not one of them. You might be thrilled to save a few bucks but speaking from experience, it’s better to hire a professional who will take their time and knows exactly what to look for. A cheap home inspector will not save you money in the long run.

The inspection should not be a painful process. It is meant to help you, the future homeowner, understand and address the home’s current issues. …

What to Look at During an Open House

Open houses, when you think about it – it’s kind of like a speed date with you and your potential home. You’re nervous and ready to see if it’s the right match for you. Here are some things you to look at during the open house:


Before or after the open house, take a drive around the neighborhood. Are the homes cared for? What kind of stores are nearby? This tour will help you decide if this exact location is right for you. Maybe the block that the potential home is on is amazing but the surrounding area isn’t quite up …

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