So we’ve discussed conventional and FHA mortgages, but an important type of FHA mortgage is the FHA 203k mortgage. The FHA 203k mortgage was created to help people buy houses which need repairs. Prior to the 203k loans, lenders were becoming increasingly strict when it came to lending on a house which needed work. But with the […]

In my last post, I discussed what a conventional loan is. But for many customers who do not qualify for a conventional mortgage, or who do not want to put as much money down on a house, going with an FHA mortgage might make more sense. An FHA loan is a government backed loan with […]

One of the first questions I am asked by my customers is: “what type of mortgage is best for me?” And to answer that question, I will usually ask them a series of questions to get a better understanding of their needs. After we go through this exercise, I will lay out several options, and […]

The most important first step in buying a house is determining what you can afford and what type of mortgage makes the most sense for you. So, it seemed a good idea to explain what is involved in qualifying for a mortgage and what some of the basic terms mean. For starters, it is important […]

I started this blog last January to be a place where people could come for market updates, local mortgage related news, and tips to help them through the home buying and mortgage process. I recently took a brief break from the blog, but am back and ready to help. I hope to continue helping local […]

Have you often thought about giving back to the community or a favorite charity but found yourself unable to due to monetary constraints? Well this year Marc Edelstein has decided to help you save money AND give back this year with his new Pay It Forward Promise. Not only can he save you money on […]

When you finance your home through Marc Edelstein a $50 donation will be given to a charity of your choice. This is a promise to Pay It Forward. Have questions? Call 248.313.8870     

There was little market moving news for mortgage rates this week. Little apparent progress was seen regarding the US fiscal cliff or the debt troubles in Europe. Since it’s extremely difficult to estimate the impact of Hurricane Sandy, investors did not give much weight to the US economic data released this week. As a result, […]

Two major factors were positive for mortgage rates this week. President Obama won the election, and concerns about Europe increased. As a result, mortgage rates ended the week lower. The conventional wisdom was that an Obama victory would be positive for bonds and negative for stocks, and this was in fact the reaction in financial […]

Mortgage markets handled the issues caused by Hurricane Sandy without any major disruptions. Stronger than expected economic data also had little impact, and mortgage rates ended the week with little change. Friday’s Employment report showed that the economy added roughly twice as many jobs as expected (including revisions). Against a consensus forecast of 125K, the […]