Watch out for hidden fees on your mortgage Recording fees are common on the HUD 1 settlement statement for Metro Detroit real estate closings. Unfortunately recording fees are a necessary fee for mortgage closing costs. And recording fees vary because it depends on the County …
FHA mortgages FHA down payments go up in January. It used to be 3 percent, but in January all buyers will have to have a 3 1/2 percent down payment. It is not a huge difference, but FHA wants buyers to …
Mortgage definitions Escrows or escrow account – The easy explanation for escrows is a required savings account for property taxes and homeowners insurance (required by the bank). When a Michigan home buyer gets a mortgage they are sometime required to have escrows or …
In the last few days you may of heard that rates were going to quickly going down to 4.50%. I received several calls from clients asking advice if they should refinance or wait to lock their loans. Here is the new as I …
Many people use is that is you can lower your rate by a half a percent, a quarter of a percent, or save more than $50 a month you should refinance. But THEY ARE WRONG THERE ARE OTHER CIRCUMSTANCES TO TAKE …
Why you should not refinance, exploring all the refinancing reasons Read more »