Seller concessions refer to an agreement in which the seller pays certain financing costs for the buyer of the home. i.e. Title insurance, Processing fees, Origination fees, Inspection fees, Transfer taxes The purchaser may request seller concessions during contract negotiations, or the seller may offer a concession during the listing process. Negotiations for seller concessions…
Loan Limits Increase for 2019
HUD has increased the maximum loan limits for FHA with case assignments on or after January 1, 2019. FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a…
Benefits of Year end Real Estate
Year End Real Estate Summer and spring are the two busiest and competitive seasons for purchasing real estate; but, what happens in the winter months? Benefits of Purchasing Real Estate Year End TAX SAVINGS If you purchase a house at the end of the year and close on or before December 31st, you’re…
2019 Loan Limits Increase!
Given the rapid run-up in home prices over the last year, it’s no surprise that loan limits will also be going up in 2019. The Federal Housing Finance Agency (FHFA) announced that the maximum conforming loan limits for mortgages eligible for acquisition or guaranteed by the two government-sponsored enterprises (GSEs) Freddie Mac and Fannie Mae will be $484,350.…
Max allowable DPA for MSHDA – Conventional
Step Forward Down Payment Assistance (DPA) Step Forward Down Payment Assistance (DPA) is federally-funded, forgivable and offered in 61 eligible zip codes in 10 Michigan counties. Step Forward has allocated $20 million to the Step Forward DPA program. Funds are limited and are available on a first-come, first-served basis. The down payment assistance is $15,000 and…
MSHDA Step Forward Down Payment Assistance
Step Forward Down Payment Assistance (DPA) We have exciting news about a new, forgivable down payment assistance loan program launching October 8, 2018. Step Forward Down Payment Assistance (DPA) is federally-funded, forgivable and offered in 61 eligible zip codes in 10 Michigan counties. Step Forward has allocated $20 million to the Step Forward DPA program. Funds…
Mortgage Brokers vs. Real Estate Agents
The Difference Between Mortgage Brokers and Real Estate Agents
Energy Efficient Homes Made Easy
The Easiest Ways to Save Money with Energy Efficiency Making a budget is a lot easier than actually sticking to it–we know. But when you become a homeowner, it’s even more essential that you make an effort to live within your means. Your house is not only your biggest investment, it’s also the place you…