August 8, 2019
Debt-to-Income Ratio Your debt-to-income (DTI) ratio is the percentage of your income that goes toward paying your monthly debts. DTI can often be overlooked as many people assume that a good credit score and a high income are the only two factors needed to be […]
July 27, 2018
New Condo Financing Options Mortgage 1 has expanded the guidelines their Condo financing options. A condominium complex can be grouped into one of two mortgage categories warrantable and non-warrantable. A condo complex is considered non-warrantable when they fail to meet criteria by Fannie Mae and Freddie Mac to […]
June 29, 2018
Loan Terminology can be confusing. Here is a list of terms that are used in the mortgage industry that may not be used in everyday life. Amortization Amortization is the payment of a debt in equal installments of principal and interest. Appreciation Appreciation is the […]
June 1, 2018
A rule change in Lansing provides great news for Michigan Veterans that are dreaming of a new home. The statement from the Veterans Benefits Administration reads: Effective immediately, site condominiums in the state of Michigan will be processed in the same manner as a single-family […]