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Mortgage Preapproval Archives - That Mortgage Banker Blog

Category: Mortgage Preapproval

And We’re Back……….

September 28, 2017 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Preapproval, Mortgage Real Estate Market Review, Mortgage Refinancing, Mortgage Tips, Oakland County Mortgage Banker, Oakland County Real Estate, Uncategorized, Wayne County Mortgage Banker 0 Comments

So it’s been a while, but now “we are back from a commercial break”, as my good friend Ken Kellner says over a megaphone in his tiki bar every time someone new walks in. Why is this relevant, you may be asking yourself? Well, during my “commercial break” I honed my writing skills, educated myself on the virtues […]

New 3% Down Conventional Mortgage Programs

December 10, 2014 Marc Edelstein First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Preapproval, Mortgage Tips, Oakland County Mortgage Banker, Oakland County Real Estate, Wayne County Mortgage Banker 0 Comments

Fannie Mae and Freddie Mac have recently announced that they will begin backing conventional mortgages with as little as 3% down. This puts conventional mortgages into a new arena which they have not been in for almost 5 years, namely, the low down payment space. Until the announcement on Monday, the lowest Fannie and Freddie […]

How to Get a Mortgage Closed in Less Than 30 Days

December 3, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Mortgage Tips, Uncategorized, Wayne County Mortgage Banker 0 Comments

As the year comes to an end and we enter December, the crunch begins to meet year-end closing deadlines. There are a number of reasons why people want to close by the end of the year, but most of them revolve around taxes. And I find that every year during this first week of December, […]

Can I buy a House if I Had a Foreclosure?

November 18, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

With everything that has happened over the last eight or nine years, an unfortunately common question is whether or not you can buy a house if you had a foreclosure in the not-too-distant past. There is a common misconception that any foreclosures mean you can’t buy a new house for seven years. And while it […]

Documents to Collect for a Mortgage

October 29, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Mortgage Refinancing, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

If you are in the process of buying a house or are thinking of buying a house, there are some common documents you will need for your mortgage. By collecting them early and having them upfront, you will save time in the process and help your mortgage officer properly prequalify you. And many lenders will […]

Who Needs a Mortgage Preapproval?

October 24, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Michigan Real Estate Tips, Mortgage Preapproval, Mortgage Refinancing, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

Mortgage preapproval letters have become a standard practice in the home buying process. Most sellers would like something of substance from a lender stating that you actually have the means to buy their house before making it unavailable to other buyers. Why take their house off the market and go into contract with you, when […]

Are Multifamily Properties Good Investments?

October 10, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

Clients will often ask me my opinion on thing relating to the mortgage industry and homeownership in general. These questions will, usually, lead to a conversation around the worthiness of property as an investment. And while I am pretty straightforward in my belief that owning properties is seldom a bad thing, there is a small […]

Buying a Condo in Michigan

October 8, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Mortgage Refinancing, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

When clients come to me expressing an interest in buying a condo here in Michigan, I usually run down a few important points. First, I discuss the various types of condos available. Determining what type of condo you want will help you to find the right community. Next, we discuss what it means for a […]

Should I Buy a House or Build a House?

October 1, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Michigan Real Estate Tips, Mortgage Preapproval, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

With all of the new construction here in Michigan and all around the nation, the question that keeps coming up is: should I buy a house or build one? And while the answer is, of course, dependent upon your individual situation, I can give you some general ideas of the pros and cons of each. […]

Buying a House with Bad Credit

September 17, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

There are many ways to get a mortgage. Some benefit borrowers with large down payments, some benefit those with less to put down; some benefit borrowers who plan to be in the home for less than 7 years, some benefit borrowers who plan to be there for 30 years; some benefit borrowers with good credit, […]